PUBLISHER: Grand View Research | PRODUCT CODE: 1908621
PUBLISHER: Grand View Research | PRODUCT CODE: 1908621
The global Keytruda market size was estimated at USD 31.38 billion in 2025 and is projected to reach USD 24.95 billion by 2033, declining at a CAGR of -3.80% from 2026 to 2033. The market outlook for Keytruda (pembrolizumab) is expected to soften after its patent expiry due to rising biosimilar competition and pricing pressures.
Despite the impending challenges, Keytruda continues to strengthen its global presence, including in South America and the Gulf Cooperation Council (GCC), supported by its broad adoption across numerous cancer indications. In both regions, the increasing prevalence of cancer, growing investment in oncology infrastructure, and wider access to advanced immunotherapies are driving uptake. As a leading immune checkpoint inhibitor, Keytruda has demonstrated strong efficacy in non-small cell lung cancer, melanoma, head and neck cancers, and several other malignancies, leading to a consistent expansion of regulatory approvals worldwide. Its market resilience is further supported by a growing volume of clinical trials, particularly those evaluating combination therapies, as well as sustained global investment in immuno-oncology research.
Keytruda's expansion across international markets, including developing regions such as South America, where healthcare modernization is accelerating, and the GCC, where governments are prioritizing premium cancer care, has been driven largely by its increasing number of approved indications. These approvals, covering conditions such as non-small cell lung cancer, melanoma, head and neck squamous cell carcinoma, and urothelial carcinoma, have substantially broadened its eligible patient base. Its demonstrated effectiveness in monotherapy and combination regimens supports use in first-line, advanced, and adjuvant settings across diverse healthcare environments. Continued clinical research exploring new uses in colorectal cancer, triple-negative breast cancer, and hepatocellular carcinoma provides further growth potential. The drug's incorporation into biomarker-driven strategies, including PD-L1 expression and tumor mutational burden, enhances targeted patient selection and solidifies its position within precision oncology across mature and emerging markets.
Combination therapy remains a pivotal driver of Keytruda's industry performance, especially in regions such as South America and the GCC, where oncologists are increasingly adopting modern, multimodal treatment approaches. Its synergy with chemotherapy, targeted agents, and other immunotherapies has shown strong clinical results in aggressive and late-stage cancers. Strategic partnerships aimed at advancing combination trials continue to reinforce Keytruda's competitive advantage. As more of these regimens gain regulatory approval and real-world acceptance, they extend the drug's lifecycle and help mitigate the impact of future biosimilar competition. This focus on combination approaches ensures Keytruda remains clinically relevant and commercially resilient across diverse global markets.
Keytruda's rising use in earlier treatment lines is another major catalyst, with similar trends emerging across South America and the GCC, where healthcare systems are increasingly adopting immunotherapy for early-stage disease management. Originally reserved for metastatic settings, Keytruda now carries approvals for first-line, neoadjuvant, and adjuvant use, helping reduce recurrence risk and improve survival outcomes. Approvals for early-stage non-small cell lung cancer, triple-negative breast cancer, and melanoma have significantly expanded its patient population across both developed and developing markets. As oncologists worldwide shift toward the earlier integration of immunotherapy, demand for Keytruda continues to grow, strengthening its market position ahead of the anticipated competitive pressures following patent expiry.
Global Keytruda Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels 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 global Keytruda market report based on application, payer, distribution channel, and region: