The global cancer vaccines market is estimated to reach USD 8.5 billion by the year 2025.
Cancer vaccines are either used for the prevention or treatment of cancers. The cancer treatment vaccines are generally made up of cancer cells, parts of cells, or pure antigens. In a few cases, patient’s own cells can be removed and exposed to the above-mentioned substances for creating vaccine in the lab.
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Gardasil/Gardasil 9 by Merck Sharp & Dohme, Cervarix by GlaxoSmithKline, Provenge by Dendreon Pharmaceuticals LLC and Imlygic by Amgen Inc. are amongst the leading vaccines in the global cancer vaccines market.
Factors such as increasing prevalence of cancer, growing awareness related to technologically advanced cancer therapies and investment by pharmaceutical companies to develop better cancer vaccines are the factors driving the market growth. According to the statistics of 2020 published by the American Cancer Society, there are ~13,130 new cases of cancer within the US. Other factors that positively affect the market growth are growing geriatric population and huge unmet needs of therapeutic options due to increasing number of deaths by cancer.
However, high cost & longer time span for development & manufacturing of cancer vaccines, presence of alternative therapeutic options, and stringent government regulations is expected to negatively impact the market growth during the forecast period.
Regional Analysis:
By region, the global cancer vaccines market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
The North America lead the global market in 2019, as prevalence of cancer is highest within the US. According to the National Cancer Institute, there were approximately 153,259 people within the US in 2017 who suffered from soft tissue sarcoma. This is accompanied by high mortality rate. This factor is anticipated to increase the demand of related therapeutics, such as cancer vaccines, hence driving the market growth. Moreover, developed infrastructure and increasing per capita healthcare infrastructure further accelerates the market growth.
The cancer vaccines market in Europe held the second largest market share in 2019 owing to a well-developed infrastructure and presence of prominent market players such as GlaxoSmithKline, IO Biotech, ViciniVax, ImmuneTune, Treos Bio Limited, CureVac AG, DCPrime, and Vaximm AG, among others.
Asia-Pacific is estimated to be the fastest growing region for the global cancer vaccines market. Japan is identified to be a major market within the region. The region is held a major share in 2019 due to a huge patient pool, favorable reimbursement policies, and high per capita income. According to a data published by the World Cancer Research Fund International, the age-standardized rate of cancer in Japan was 248 per 100,000 population in 2018.
The LAMEA region is experiencing steady growth owing to the rising investment by companies in regions such as Middle East and Latin America.
Competitive Landscape:
Key market players covered in the report include Amgen (US), Merck & Co., Inc. (US), GlaxoSmithKline (GSK) (UK), Dendreon Pharmaceuticals (Sanpower Group) (US), GeoVax,Inc. (US), Moderna, Inc. (US), Flow Pharma, Inc. (US), Polynoma LLC (US), IO Biotech (Denmark), OncoPep, Inc. (US), Medigen, Inc. (US), ViciniVax (Netherlands), ImmuneTune (Netherlands), Treos Bio Limited (UK), EpiThany (US), CureVac AG (Germany), DCprime (Netherlands), Vaximm AG (Switzerland), AdaptVac (New Zealand), MimiVax LLC (US), Agenus, Inc. (US), AlphaVax, Inc. (US), Genexine (South Korea), GlobeImmune, Inc. (US), Ubivac, Inc. (US), Vaccinogen, Inc. (US), Genocea Biosciences, Inc. (US), Northwest Biotherapeutics, Inc. (US), OncBioMune Pharmaceuticals, Inc. (US), and others. These companies are involved in product approvals, mergers, partnerships, and other activities, in order to gain major market share in the market.
For instance, in September 2019, GlaxoSmithKline signed a partnership agreement with INNOVAX, a subsidiary of China’s YangShengTang Group, and Xiamen University to develop a next-generation cervical cancer vaccine. With this, the company expects to garner a significant market share in cervical cancer vaccine market.
Report Scope:
- Detailed Insights of the Introduction to Cancer Vaccines and Mechanism of Cancer Vaccines
- Market Size of the Global Cancer Vaccines Market with Five Years Forecast
- Market Size of the 4 Leading Cancer Vaccines with Five Years Forecast
- Provides Comprehensive Insights on the Funding of the Cancer Vaccines Research
- Investigates the Key Growth Drivers and Restraints of the Global Cancer Vaccines Market
- Provides Key Trends with Respect to Collaboration Deals, Merger & Acquisitions, Partnership Deals, and Licensing Agreement
- Detailed Insights of the Regulatory Framework Including the Approval Process and an Overview of the Regulatory Authorities in the United States, EU, and Japan
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