“Surge in prevalence of human papillomavirus (HPV) infections and increase in administration of prophylactic cancer vaccines drive the global cancer vaccines market. In addition, rise in investments and government funding in the development of cancer vaccines supplement the growth. The preventive (prophylactic) vaccine segment accounted for more than half of the total revenue in 2017 and will maintain its dominance by 2023.”
The Global Cancer Vaccines Market was valued at $4.81 billion in 2017 and is estimated to register $12.81 billion by 2023, growing at a CAGR of 17.7% from 2017 to 2023, according to the report published by Allied Market Research. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
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Increasing administration of prophylactic cancer vaccines coupled with launch and approval of new cancer vaccines drive the global cancer vaccines market. However, high cost for development of cancer vaccines due to frequent need for upgradation in manufacturing technology and longer timelines required for manufacturing a vaccine restrict the market growth. On the contrary, increasing transition from prophylactic to therapeutic cancer vaccines and high growth prospects in the emerging markets would present opportunities in the cancer vaccines market.
Preventive (prophylactic) vaccine segment to maintain its dominance by 2023
The preventive (prophylactic) vaccine segment accounted for more than half of the total revenue in 2017 and will maintain its dominance by 2023. However, the therapeutic vaccine segment is expected to register the highest CAGR of 20.2% from 2017 to 2023.
Major market players
The key market players explored in the research include AstraZeneca Plc. (Medimmune, LLC.), Merck & Co., Inc., CSL Limited, Serum Institute of India Pvt. Ltd., GlaxoSmithKline Plc., Astellas Pharma Inc., Pfizer Inc., Sanofi Pasteur, Sanpower Group, and Aduro BioTech Inc.
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North America to maintain lead position by 2023
The market across the North America region accounted for two-fifths of the market in terms of revenue in 2017. However, the market across the Asia-Pacific region is expected to grow at the highest CAGR of 19.6% during the forecast period. The report also explores the other regions including Europe and LAMEA.
Recombinant segment to lead throughout the forecast period
The recombinant segment accounted for nearly one-third of the total revenue in 2017 and will maintain its dominance by 2023. However, the dendritic cells segment is projected to register the highest CAGR of 18.6% from 2017 to 2023.
Cervical cancer segment to maintain its dominance by 2023
The cervical cancer segment accounted for more than three-fifths of the market in terms of revenue in 2017. However, other indications segment is expected to grow at the highest CAGR of 18.8% during the forecast period.
Adults segment to maintain its dominance by 2023
The adults segment accounted for more than three-fifths of the market in terms of revenue in 2017. However, the pediatrics segment is expected to grow at the highest CAGR of 19.3% during the forecast period.
Scope of the Report:
|Market size available for years||2017 – 2023|
|Base year considered||2018|
|Forecast period||2018 – 2023|
|Forecast units||Value (USD)|
|Segments covered||By Procedure, Product, By End-User|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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