Anti-CD47 Drugs Market By Drug Type (Monoclonal Antibodies, Bispecific Antibodies, Fusion Proteins, Small Molecules); By Application (Hematologic Malignancies, Solid Tumors); By End User (Academic Cancer Centers, Oncology Hospitals, Specialty Clinics); By Geography, Segment Revenue Estimation, Forecast, 2024–2030

Introduction And Strategic Context

The Global Anti- CD47 Drugs Market is expected to witness a strong compound annual growth rate (CAGR) of 38.5%, with an estimated market value of USD 0.56 billion in 2024 and projected to reach nearly USD 4.1 billion by 2030 , according to Strategic Market Research.

 

Anti-CD47 therapies are part of an emerging class of immune checkpoint inhibitors that target the CD47-SIRPα axis, often referred to as the “don’t eat me” signal in cancer biology. Tumors exploit this axis to evade macrophage-mediated phagocytosis. By blocking CD47, these therapies effectively unmask cancer cells to the innate immune system—positioning themselves as a next-gen complement to PD-1 and CTLA-4 inhibitors.

 

Between 2024 and 2030, the strategic momentum in this space is shifting fast—from early-stage clinical activity to late-phase pipelines, licensing deals, and combination trial designs. What makes this space especially volatile and high-stakes is its dual nature: scientifically complex, but commercially explosive. The science is still maturing, but investor interest is already peaking.

 

Several conditions are fueling this growth. First, unmet need remains high in relapsed or refractory hematologic cancers like acute myeloid leukemia (AML), myelodysplastic syndromes (MDS), and non-Hodgkin lymphoma. Anti-CD47 drugs are emerging as a salvage option, particularly for patients ineligible for stem cell transplants. Second, preclinical data is expanding into solid tumors —ovarian, breast, bladder, and lung—with some Phase II trials now exploring combo therapies with chemo or other checkpoint inhibitors.

 

Regulatory bodies are also paying attention. The U.S. FDA has granted multiple fast track and orphan designations to anti-CD47 agents in recent years. That said, toxicity concerns—particularly anemia —are still slowing some approvals and sparking dose-optimization studies.

 

Key stakeholders in this market include biopharma innovators, oncology research institutions, immuno-oncology venture funds, and regulatory agencies. Notably, early movers like Gilead Sciences and ALX Oncology are shaping investor confidence, while smaller biotech players are taking a risk-on approach with novel antibody formats or bispecific constructs.

 

To be honest, anti-CD47 therapies still carry clinical baggage from early trials that saw dose-limiting cytopenias . But the field is learning. Newer molecules are refining targeting precision, and developers are stratifying patients more thoughtfully.

 

This market isn't just about cancer—it’s about rewriting how innate immunity is leveraged in oncology. And between the race for first approvals and the competition to anchor CD47 into broader immunotherapy regimens, the next five years will be pivotal.

 

Market Segmentation And Forecast Scope

The anti-CD47 drugs market is still early in its commercialization curve, but the segmentation is already taking shape around molecule type, therapeutic application, end-user profile, and regional demand dynamics. This structure reflects both the scientific challenges in targeting CD47 and the commercial pathways companies are beginning to pursue.

By Drug Type

• Monoclonal Antibodies: The most clinically advanced and widely tested segment. These drugs block CD47 to enhance macrophage-driven phagocytosis and are being explored across hematologic and solid tumor indications. Most current Phase II and III trials use monoclonals, including Gilead’s magrolimab.

• Bispecific Antibodies: A fast-rising segment that targets CD47 and a tumor-specific antigen (e.g., CD19 or HER2) to improve selectivity and reduce anemia. These molecules aim to balance potency with safety and are gaining traction in solid tumors.

• Fusion Proteins: Engineered to combine SIRPα domains with modified structures that avoid red blood cell binding. These are designed for reduced hematologic toxicity and longer half-life, making them attractive for outpatient administration.

• Small Molecules: Still in early R&D stages, these aim to disrupt the CD47–SIRPα interaction via oral or localized delivery mechanisms. While nascent, they offer potential for better tumor penetration and cost-effective scaling.

In 2024, monoclonal antibodies are expected to hold over 70% of the market, but bispecific and fusion protein formats are projected to grow rapidly due to safety optimization and compatibility with combination regimens.

 

By Application

• Hematologic Malignancies (AML, MDS, Lymphoma): The primary clinical focus and commercial beachhead for most CD47 drugs. CD47 expression is high in these cancers, and combination with azacitidine or rituximab is showing promising efficacy.

• Solid Tumors (Breast, Lung, Ovarian, Bladder): A high-potential but more complex application area. Safety risks from CD47’s expression on healthy cells have slowed progress, but combo trials with checkpoint inhibitors and chemotherapy are unlocking new potential.

In 2024, over 60% of addressable market demand is concentrated in hematologic cancers, but solid tumor applications are expected to drive the next wave of growth—particularly via combination therapy protocols.

 

By End User

• Academic Cancer Centers: These institutions are leading early adoption due to clinical trial participation, advanced monitoring capabilities, and access to companion diagnostics. They’ll remain core CD47 users through 2026.

• Oncology Hospitals: Specialized centers focused on hematologic and metastatic cancer care. They are well-positioned to expand CD47 use once safety and reimbursement standards are clarified.

• Specialty Clinics: Smaller clinics and regional oncology groups will follow once agents receive broader label indications and real-world data supports outpatient administration. Likely to adopt CD47 drugs as second- or third-line therapies.

Early uptake will be concentrated in large academic centers and oncology hospitals, with clinic-based expansion expected after 2026 as safety data and payer support stabilize.

 

By Region

• North America: Leading in both clinical trial activity and early regulatory support. The U.S. dominates with multiple fast-track designations and large oncology trial networks. Canada is seeing early involvement in academic-led combination studies.

• Europe: More cautious but engaged. Germany, France, and the UK are hosting trials, but EMA’s slower pace and complex HTA frameworks may delay commercial rollout until late-phase results are clearer.

• Asia Pacific: A surprising growth engine, especially China, which has multiple CD47 programs underway backed by domestic biotechs and government policy support. South Korea is emerging as a secondary player.

• Latin America, Middle East & Africa (LAMEA): Limited trial infrastructure and low market readiness today, but potential for biosimilar entry or regional licensing in post-2030 scenarios. Brazil and Saudi Arabia are potential trial hosts.

North America and China will lead early commercialization, while Europe and broader Asia-Pacific will follow. LAMEA may see delayed but strategic entry via partnerships or biosimilars.

 

While segmentation today is shaped by clinical maturity, the market is already anticipating a shift toward precision immunotherapy platforms that embed CD47 into modular treatment paths—similar to how PD-L1 moved from monotherapy to backbone therapy over a decade.

 

Market Trends And Innovation Landscape

Innovation in the anti-CD47 drugs market is moving faster than most checkpoint categories did in their early years. What began as a niche “don’t-eat-me” signal blocker is now evolving into a modular immune-oncology platform—anchored by next-gen molecule formats, combination science, and an increasingly precise approach to toxicity mitigation.

The Shift Beyond Monoclonal Antibodies

The earliest wave of anti-CD47 therapies focused on monoclonal antibodies, but safety concerns—especially anemia from red blood cell binding—forced developers to pivot. Now, bispecific antibodies are gaining traction. These agents tether CD47 blockade to tumor-specific markers like CD19 or mesothelin, aiming to localize phagocytic activation within the tumor microenvironment and reduce collateral toxicity.

Several biotech firms are developing bispecific CD47 constructs that integrate with common antigens in hematologic or epithelial cancers. Early preclinical results show improved tumor selectivity and fewer hematologic side effects—a key advantage in outpatient settings.

Fusion proteins are also trending. These engineered molecules blend SIRPα variants with antibody domains or immune co-stimulatory factors to modulate response intensity. Some fusion formats completely avoid CD47 binding on red blood cells by using low-affinity or engineered receptor variants, offering a safer profile.

As one industry scientist put it: “The key isn’t just blocking CD47—it’s doing it where it matters, and only where it matters.”

 

CD47 in Combination Therapies

Monotherapy trials for anti-CD47 agents have hit a ceiling. The next growth phase hinges on combination regimens. Several trials are now pairing CD47 drugs with:

• Azacitidine (in MDS and AML)

• PD-1/PD-L1 inhibitors (in solid tumors)

• Rituximab (in non-Hodgkin lymphoma)

• Chemotherapy agents (in breast, lung, and bladder cancers)

These combinations are already producing stronger response rates and longer durability—particularly in hematologic cancers where frontline therapies have limited efficacy in older or relapsed patients.

What’s more, combination success could position anti-CD47 therapies not as standalone blockbusters, but as critical components of multi-drug regimens, similar to how PD-L1 inhibitors evolved.

 

New Engineering Strategies and Delivery Platforms

A quiet but powerful trend is the use of AI-enabled antibody design to reduce off-target CD47 binding and optimize Fc region functionality. Developers are leveraging machine learning to:

• Predict immune receptor engagement

• Model off-target binding risks

• Simulate tumor microenvironment penetration

There’s also early interest in nanoparticle-based delivery for CD47 blockade. These systems aim to encapsulate anti-CD47 agents in lipid or polymer-based carriers, directing them to tumor tissues via passive or active targeting. While still preclinical, the promise lies in limiting systemic exposure—a key hurdle for long-term use.

 

Regional R&D Acceleration in Asia

China and South Korea are driving region-specific innovation, with CD47 agents developed by domestic firms like I-Mab, Akeso, and Innovent Biologics. Many of these players are focusing on:

• Novel CD47 formats with better safety margins

• Early combination protocols using regionally approved immunotherapies

• Local trials optimized for NMPA fast-track approval pathways

China’s regulatory agility, coupled with government incentives for biologics, has turned the country into a CD47 innovation hotspot, with several first-in-human trials already launched.

 

Licensing, Collaborations, and Portfolio Plays

As CD47 assets move deeper into clinical phases, deal activity is heating up:

• Gilead’s acquisition of Forty Seven gave it a pipeline lead with magrolimab.

• ALX Oncology and Merck are co-developing combo regimens in solid tumors.

• Pfizer’s acquisition of Trillium added two distinct CD47 candidates to its portfolio.

• I-Mab and AbbVie restructured their partnership to give I-Mab control in Asia—signaling how global-local dynamics are shaping commercialization plans.

Smaller biotech firms with proprietary scaffolds or differentiated safety data are still in play for licensing or acquisition, especially those that offer better patient stratification tools or delivery technologies.

 

Companion Diagnostics and Patient Stratification

One of the most overlooked but important trends is the rise of CD47 expression testing. Unlike PD-L1, CD47 is widely expressed on healthy and tumor cells, making it tricky to define ideal responders. Some cancer centers are developing molecular panels that include CD47 levels, macrophage signatures, or tumor phagocytic index to predict treatment benefit.

As CD47 drugs inch closer to commercialization, companion diagnostics will become a commercial necessity—not just a scientific add-on. Hospitals and payers will demand stratification to manage risk and cost.

 

In Summary

The anti-CD47 landscape is defined by rapid iteration—on molecule formats, combination strategies, and delivery tactics. This isn’t a one-drug market. It’s a platform race.

The companies that win won’t just have the best drug—they’ll have the best safety-to-response ratio, the most strategic combinations, and the infrastructure to support precision use at scale.

 

Competitive Intelligence And Benchmarking

The anti-CD47 drugs market is still in its formative years, but the competitive race is already aggressive—and strategic moves today could lock in market share for the next decade. A small set of clinical leaders has emerged, while a broader wave of preclinical and early-stage developers are clustering around differentiated formats and niche indications. What’s interesting here isn’t just who’s in the lead, but how they’re trying to own different parts of the CD47 value chain.

Gilead Sciences

Gilead Sciences is arguably the most advanced player following its acquisition of Forty Seven Inc. for $4.9 billion in 2020. The company's lead compound, magrolimab , is in late-stage trials for MDS and AML, with multiple combination studies underway. Gilead’s strategy has been to pair magrolimab with azacitidine —a move that’s given them a clear lead in the hematologic space. They’ve focused on both regulatory momentum and trial scale, with multi-country Phase III programs running in parallel.

 

ALX Oncology

ALX Oncology is another front-runner. Its lead asset, evorpacept , is based on an engineered SIRPα fusion protein designed to reduce anemia risk by avoiding red blood cell binding. ALX is positioning itself as a safety-first innovator and has secured collaborations with Merck and Zymeworks to test CD47 in combo with HER2 and PD-1 inhibitors in solid tumors . The company’s platform approach could make it attractive for future partnerships or acquisition.

 

I-Mab Biopharma

I-Mab Biopharma , based in China, is focusing on regional CD47 leadership. Its candidate lemzoparlimab has been licensed to AbbVie for global development but remains under I-Mab’s control in Asia. This East-West dual strategy gives them flexibility and exposure while preserving long-term upside. The company has focused on toxicity mitigation through selective binding and is testing combinations with rituximab and other immunotherapies.

 

Trillium Therapeutics

Trillium Therapeutics , acquired by Pfizer, had a slower start but brought two distinct CD47-focused candidates to the table—both designed to improve tolerability. Pfizer is still early in its integration, but it now controls one of the most scientifically differentiated pipelines in this space. Their scale and regulatory muscle could compress timelines once development accelerates.

 

Shattuck Labs

Shattuck Labs is exploring novel bispecific fusion proteins that simultaneously target CD47 and tumor antigens, an approach still in preclinical and early Phase I stages. While less advanced, their modular platform is drawing attention from oncology investors watching for the next leap in precision checkpoint design.

 

In terms of strategic benchmarks, the market is showing a clear divide:

• Gilead and ALX dominate the late-stage hematologic pipeline.

• I-Mab and Pfizer hold strong IP positions with focus on safety and expansion into solid tumors .

• Smaller firms are betting on next-gen delivery formats and bispecific innovation.

What’s also emerging is a pattern of regional asymmetry. U.S. and Chinese firms are leading the way, but European players have been slower to commit, possibly due to concerns around toxicity and payer readiness.

 

To be honest, this market isn't just about who's first—it’s about who can prove safety, scale manufacturing, and align with evolving immunotherapy standards. Being early helps, but being combinable is what ensures staying power.

 

Regional Landscape And Adoption Outlook

Adoption of anti-CD47 therapies isn’t happening uniformly across regions—it’s tied closely to clinical trial infrastructure, regulatory momentum, payer systems, and oncology specialization levels. North America is leading, but other regions are moving fast to catch up, each carving a distinct pathway based on resources and strategy.

North America

North America is the primary driver of both innovation and early adoption. The U.S., in particular, has become the testing ground for late-phase CD47 clinical trials, backed by a deep ecosystem of academic cancer centers and FDA incentives like fast track and orphan drug designations. Institutions such as MD Anderson, Dana-Farber, and Memorial Sloan Kettering are actively enrolling patients across hematologic and solid tumor trials. Regulatory openness has been balanced by caution—especially around managing anemia risk, which remains a core concern for the FDA. Canada, while smaller, is seeing early academic involvement, particularly in combination trials tied to U.S. pharma sponsors.

 

Europe

Europe is more measured in uptake. While countries like Germany, France, and the UK are participating in multi- center trials, EMA’s approach to novel immunotherapies has been slower, especially where toxicity is a concern. That said, early investigator-led trials in AML and lymphomas are progressing at university hospitals, and organizations like EORTC are beginning to include CD47-based drugs in their immunotherapy trial designs. Reimbursement and HTA frameworks could become a barrier once approvals land, unless data shows clear quality-of-life improvement and cost-benefit versus existing IO standards.

 

Asia Pacific

Asia Pacific is the emerging wildcard. China is not just a participant but a developer. Multiple CD47-targeted drugs are in domestic pipelines, with firms like I-Mab, Akeso , and Innovent Biologics building regional clinical programs backed by government incentives. The Chinese regulatory system has become increasingly fast-moving, with the NMPA pushing reforms that allow local biotechs to bring novel antibodies to trial faster than their Western peers. Japan and South Korea are monitoring CD47 developments but are largely aligned with Western regulatory signals for now. India’s role is minimal today but could expand post-2030 via biosimilars or local trial partnerships.

 

Latin America, Middle East, and Africa (LAMEA)

Latin America, Middle East, and Africa (LAMEA) remains largely excluded from current CD47 development. The lack of trial infrastructure, fewer cancer-specialized hospitals, and limited commercial oncology pipelines make short-term adoption unlikely. However, Brazil and Saudi Arabia have shown some interest in hosting early-phase studies in partnership with global pharma firms. Over time, biosimilar versions or licensing deals could open doors here, especially for hematologic cancers with high unmet needs.

 

Regional adoption will also depend heavily on diagnostic support. CD47 expression testing is still not routine, and companion diagnostics will be critical in stratifying patients. North America and parts of Europe are better equipped to integrate such tools, while Asia’s investment in genomic testing infrastructure may give it an unexpected edge.

What’s clear is this: regulatory strategy, not just science, will determine where CD47 therapies land first—and which regions can afford to scale them after approval.

 

End-User Dynamics And Use Case

End-user adoption of anti-CD47 drugs will unfold in stages, and not all providers are equally prepared to handle the clinical and operational complexity these therapies bring. The earliest uptake will come from tertiary cancer centers and academic institutions, but broader use will depend on supportive infrastructure, staffing, and reimbursement pathways.

Academic Cancer Centers are expected to dominate the initial wave of adoption. These institutions are typically the primary clinical trial sites and already manage advanced hematologic and solid tumor patients with limited treatment options. They have the staff, monitoring capabilities, and regulatory oversight needed to manage therapies with known hematologic toxicity risks—particularly anemia and thrombocytopenia. These centers are also the most likely to run companion diagnostics and apply patient stratification protocols. Many are already building CD47 into broader immunotherapy regimens that include PD-1/PD-L1 inhibitors or chemotherapeutics.

 

Specialized Oncology Hospitals will follow closely. Facilities like standalone hematologic cancer hospitals or dedicated solid tumor treatment centers have more flexibility than general hospitals when it comes to drug procurement, rapid adoption of emerging IO protocols, and patient eligibility screening. As anti-CD47 agents receive approval and pricing pathways stabilize, these hospitals are well-positioned to incorporate them into treatment plans for relapsed AML, MDS, and potentially difficult-to-treat solid tumors .

 

Integrated Healthcare Systems and Hospital Networks —particularly in North America and Western Europe—will be slower to adopt. Despite their size, these systems often wait for clear safety and reimbursement data before allowing formulary inclusion. They’ll likely begin offering anti-CD47 therapies through high-volume oncology hubs within their networks, but only for narrowly defined indications initially.

 

Private Clinics and Regional Cancer Groups may only adopt once the drugs move into second-line treatment pathways or gain broader guideline support. While some may offer infusion services, most lack the infrastructure to manage complex immune-related adverse events or perform detailed patient stratification.

 

Payers and Pharmacy Benefit Managers (PBMs) will play a large role in shaping how quickly end users adopt anti-CD47 drugs. Due to cost and safety concerns, expect heavy use of prior authorization protocols and real-world evidence mandates, especially in the first 2–3 years post-approval.

 

Use Case Scenario

A large cancer center in Boston recently began enrolling high-risk MDS patients into a Phase II trial for a CD47 monoclonal antibody in combination with azacitidine . The trial required weekly patient monitoring for hemoglobin and platelet levels, supported by an on-site hematopathology lab and 24/7 infusion oversight. Over six months, the center reported improved overall response rates versus azacitidine alone, with manageable grade 2 anemia in most patients. Notably, 40% of enrolled patients were over age 65—underscoring the therapy’s relevance for transplant-ineligible populations. The center also built a CD47 testing workflow into its molecular panel, streamlining patient identification for future rollout.

This kind of real-world use case highlights the operational layers needed for success—lab support, scheduling flexibility, and strong clinician engagement.

 

Recent Developments + Opportunities & Restraints

Recent Developments (Last 2 Years)

• Gilead Sciences progressed magrolimab into multiple Phase III trials for MDS and AML , expanding into global sites across the U.S., Europe, and Asia as of 2024.

• ALX Oncology’s evorpacept entered combination trials with Keytruda (pembrolizumab) for gastric and head & neck cancers , with early safety data reported in late 2023.

• I-Mab and AbbVie restructured their co-development deal on lemzoparlimab , with I-Mab retaining Asia rights and scaling clinical expansion in China and South Korea .

• Pfizer advanced its Trillium-acquired CD47 assets into dose-optimization studies focused on reducing anemia , with updated Phase I data expected in early 2025.

• Akeso Biopharma initiated a first-in-human trial of its CD47/PD-L1 bispecific antibody, marking one of the first dual-target strategies to reach the clinic in China.

 

Opportunities

• Combination Therapy Expansion:
  As CD47 blockers show enhanced efficacy with hypomethylating agents and PD-1 inhibitors, more developers are optimizing combo protocols to unlock broader use in solid tumors and elderly hematologic patients .

• Next-Gen Molecule Design:
  New formats like bispecific antibodies and fusion proteins with reduced red blood cell binding are addressing the safety gap—offering a clear edge in long-term adoption, especially in outpatient settings.

• Regional Innovation in Asia:
  Countries like China and South Korea are scaling CD47 programs faster than expected, with domestic firms aiming for first-in-region approvals by 2026–2027. This opens licensing and partnership potential for global players.

 

Restraints

• Toxicity Management Challenges:
  Despite engineering advances, anemia and thrombocytopenia remain significant barriers to widespread adoption, especially in frail or comorbid patients.

• Limited Diagnostic Infrastructure:
  Most hospitals still lack standardized CD47 expression testing , making patient selection difficult outside academic trial sites—slowing commercial uptake in general oncology practice.

 

7.1. Report Coverage Table

Report Attribute	Details
Forecast Period	2024 – 2030
Market Size Value in 2024	USD 0.56 Billion
Revenue Forecast in 2030	USD 4.1 Billion
Overall Growth Rate	CAGR of 38.5% (2024 – 2030)
Base Year for Estimation	2024
Historical Data	2019 – 2023
Unit	USD Million, CAGR (2024 – 2030)
Segmentation	By Drug Type, Application, End User, Geography
By Drug Type	Monoclonal Antibodies, Bispecific Antibodies, Fusion Proteins, Small Molecules
By Application	Hematologic Malignancies (AML, MDS, Lymphoma), Solid Tumors (Breast, Lung, Ovarian, Bladder)
By End User	Academic Cancer Centers, Oncology Hospitals, Specialty Clinics
By Region	North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Country Scope	U.S., Canada, Germany, UK, China, Japan, South Korea, Brazil, Saudi Arabia
Market Drivers	- Rising clinical demand in relapsed/refractory hematologic cancers - Rapid innovation in bispecific and fusion protein engineering - Accelerated trial momentum in Asia-Pacific and North America
Customization Option	Available upon request