PUBLISHER: Grand View Research | PRODUCT CODE: 1772201
PUBLISHER: Grand View Research | PRODUCT CODE: 1772201
U.S. Keytruda Market Size, Share & Trends Analysis Report By Application, By Payer, By Distribution Channel, And Segment Forecasts, 2025 - 2033
U.S. Keytruda Market Size & Trends:
The U.S. keytruda market size was estimated at USD 17.87 billion in 2024 and is projected to decline at a CAGR of -3.12% from 2025 to 2033. The market faces challenges from the impending patent expiration in 2028, introducing biosimilar competition. Although the decline is expected, market activity remains supported by continued use in established indications and ongoing clinical evaluation in new tumor types.
The U.S. Keytruda industry, a cornerstone of oncology due to its efficacy in treating multiple cancers, is undergoing a transition. Keytruda, developed by Merck & Co., targets PD-1 to enhance immune responses against tumors. Its approvals for lung cancer, melanoma, and urothelial carcinoma have supported market dominance. However, a projected decline during the forecast period reflects growing challenges, particularly from biosimilar competition following its expected patent expiration in 2028. While the incidence of cancer continues to rise-estimated at 2 million new cases in the U.S. in 2024-pricing pressures are expected to limit market growth.
Keytruda's use in both monotherapy and combination regimens continues to be a key factor supporting its market position. Expanding indications in the neoadjuvant and adjuvant settings, such as for triple-negative breast cancer, broadens the eligible patient population. Clinical trials, including KEYNOTE-689, have shown improved survival outcomes, boosting adoption. However, treatment costs that often exceed thousands of dollars per cycle create access barriers. To address this, Merck has developed a subcutaneous formulation, with regulatory submissions expected in 2025, aimed at increasing treatment convenience and preserving market share.
Additionally, emerging innovations are shaping Keytruda's clinical use. Biomarker-driven approaches enhance its effectiveness in PD-L1-expressing tumors, and research into new combinations, such as with antibody-drug conjugates and checkpoint inhibitors, could broaden its reach. Despite this development pipeline, the market faces challenges from regulatory hurdles, pricing issues, and biosimilar litigation. Merck is exploring new applications, including colorectal cancer, to counter these risks. While the U.S. remains the top market in North America due to its advanced healthcare infrastructure, future growth will be influenced by competitive and economic pressures.
U.S. Keytruda Market Report Segmentation
This report forecasts revenue growth in the U.S. and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the U.S. Keytruda market report based on application, payer, and distribution channel:
- Application Outlook (Revenue, USD Million, 2021 - 2033)
- Lung Cancer
- Breast Cancer
- Melanoma
- Hodgkin Lymphoma
- Head and Neck Cancer
- Gastric Cancer
- Urothelial Cancer
- Others
- Payer Outlook (Revenue, USD Million, 2021 - 2033)
- Commercial/Private
- Public
- Distribution Channel Outlook (Revenue, USD Million, 2021 - 2033)
- Hospital Pharmacy
- Speciality
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Application
- 1.2.2. Payer
- 1.2.3. Distribution Channel
- 1.3. Estimates and Forecast Timeline
- 1.4. Research Methodology
- 1.5. Information Procurement
- 1.5.1. Purchased Database
- 1.5.2. GVR's Internal Database
- 1.5.3. Secondary Sources
- 1.5.4. Primary Research
- 1.6. Information Analysis
- 1.6.1. Data Analysis Models
- 1.7. Market Formulation & Data Visualization
- 1.8. Model Details
- 1.8.1. Commodity Flow Analysis
- 1.9. List of Secondary Sources
- 1.10. Objectives
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. U.S. Keytruda Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.3. Business Environment Analysis
- 3.3.1. Industry Analysis - Porter's Five Forces Analysis
- 3.3.1.1. Supplier Power
- 3.3.1.2. Buyer Power
- 3.3.1.3. Substitution Threat
- 3.3.1.4. Threat of New Entrants
- 3.3.1.5. Competitive Rivalry
- 3.3.2. PESTLE Analysis
- 3.3.3. Pipeline Analysis
- 3.3.4. Patent Expiry Analysis
- 3.3.5. Pricing Analysis
- 3.3.1. Industry Analysis - Porter's Five Forces Analysis
Chapter 4. U.S. Keytruda Market: Application Business Analysis
- 4.1. Application Market Share, 2024 & 2033
- 4.2. Application Segment Dashboard
- 4.3. Market Size & Forecasts and Trend Analysis, by Application, 2021 to 2033 (USD Million)
- 4.4. Lung Cancer
- 4.4.1. Lung Cancer Market, 2021 - 2033 (USD Million)
- 4.5. Breast Cancer
- 4.5.1. Breast Cancer Market, 2021 - 2033 (USD Million)
- 4.6. Melanoma
- 4.6.1. Melanoma Market, 2021 - 2033 (USD Million)
- 4.7. Hodgkin Lymphoma
- 4.7.1. Hodgkin Lymphoma Market, 2021 - 2033 (USD Million)
- 4.8. Head and Neck Cancer
- 4.8.1. Head and Neck Cancer Market, 2021 - 2033 (USD Million)
- 4.9. Gastric Cancer
- 4.9.1. Gastric Cancer Market, 2021 - 2033 (USD Million)
- 4.10. Urothelial Cancer
- 4.10.1. Urothelial Cancer Market, 2021 - 2033 (USD Million)
- 4.11. Other
- 4.11.1. Other Market, 2021 - 2033 (USD Million)
Chapter 5. U.S. Keytruda Market: Payer Business Analysis
- 5.1. Payer Market Share, 2024 & 2033
- 5.2. Payer Segment Dashboard
- 5.3. Market Size & Forecasts and Trend Analysis, by Payer, 2021 to 2033 (USD Million)
- 5.4. Commercial/Private
- 5.4.1. Commercial/Private Market, 2021 - 2033 (USD Million)
- 5.5. Public
- 5.5.1. Public Market, 2021 - 2033 (USD Million)
Chapter 6. U.S. Keytruda Market: Distribution Channel Business Analysis
- 6.1. Distribution Channel Market Share, 2024 & 2033
- 6.2. Distribution Channel Segment Dashboard
- 6.3. Market Size & Forecasts and Trend Analysis, by Distribution Channel, 2021 to 2033 (USD Million)
- 6.4. Hospital Pharmacy
- 6.4.1. Hospital Pharmacy Market, 2021 - 2033 (USD Million)
- 6.5. Specialty Pharmacy
- 6.5.1. Specialty Pharmacy Market, 2021 - 2033 (USD Million)
Chapter 7. U.S. Keytruda Market: Competitive Landscape
- 7.1. Participant Overview
- 7.2. Company Market Position Analysis
- 7.3. Company Categorization
- 7.4. Strategy Mapping
- 7.5. Company Profiles/Listing
- 7.5.1. Merck & Co., Inc.
- 7.5.1.1. Overview
- 7.5.1.2. Financial Performance
- 7.5.1.3. Product Benchmarking
- 7.5.1.4. Strategic Initiatives
- 7.5.1. Merck & Co., Inc.
List of Tables
- Table 1. List of secondary sources
- Table 2. List of abbreviations
- Table 3. U.S. Keytruda market, by application, 2021 - 2033 (USD Million)
- Table 4. U.S. Keytruda market, by payer, 2021 - 2033 (USD Million)
- Table 5. U.S. Keytruda market, by distribution channel, 2021 - 2033 (USD Million)
List of Figures
- Fig. 1 Keytruda market segmentation
- Fig. 2 Market research process
- Fig. 3 Data triangulation techniques
- Fig. 4 Primary research pattern
- Fig. 5 Market research approaches
- Fig. 6 Value-chain-based sizing & forecasting
- Fig. 7 Market formulation & validation
- Fig. 8 Market snapshot
- Fig. 9 Therapeutic approach and application outlook (USD Million)
- Fig. 10 Competitive landscape
- Fig. 11 Keytruda market dynamics
- Fig. 12 Keytruda market: Porter's five forces analysis
- Fig. 13 Keytruda market: PESTLE analysis
- Fig. 14 Application market, 2021 - 2033 (USD Million)
- Fig. 15 Lung Cancer market, 2021 - 2033 (USD Million)
- Fig. 16 Breast Cancer market, 2021 - 2033 (USD Million)
- Fig. 17 Melanoma market, 2021 - 2033 (USD Million)
- Fig. 18 Hodgkin Lymphoma market, 2021 - 2033 (USD Million)
- Fig. 19 Head and Neck Cancer market, 2021 - 2033 (USD Million)
- Fig. 20 Gastric Cancer market, 2021 - 2033 (USD Million)
- Fig. 21 Urothelial Cancer market, 2021 - 2033 (USD Million)
- Fig. 22 Other market, 2021 - 2033 (USD Million)
- Fig. 23 Payer market, 2021 - 2033 (USD Million)
- Fig. 24 Commercial/Private market, 2021 - 2033 (USD Million)
- Fig. 25 Public market, 2021 - 2033 (USD Million)
- Fig. 26 Distribution Channel market, 2021 - 2033 (USD Million)
- Fig. 27 Hospital Pharmacy market, 2021 - 2033 (USD Million)
- Fig. 28 Specialty Pharmacy market, 2021 - 2033 (USD Million)
- Fig. 29 Company market position analysis
- Fig. 30 Strategic framework
