Allied Market Research recently published a report, titled, “Cancer Vaccines Market by Technology (Dendritic Cells (DC) Cancer Vaccines, Recombinant Cancer Vaccines, Antigen/Adjuvant Cancer Vaccines, and Viral Vector & DNA Cancer Vaccines), Type (Preventive Cancer Vaccines and Therapeutic Cancer Vaccines), Indication (Cervical Cancer, Prostate Cancer, and Others), and End User (Pediatrics and Adults).” According to the analyst of AMR, the global cancer vaccines market was valued at $ 4.18 billion in 2019, and is projected to reach $ 7.30 billion by 2027, registering a CAGR of 12.6% from 2020 to 2027.
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Cancer Vaccines Market Overview:
The cancer vaccines market is expected to experience a significant growth during the forecast period, owing to rise in demand for novel cancer vaccine products, increase in prevalence of HPV infections, surge in public awareness toward cancer diseases, and rise in investments by government & private organizations for production of new cancer vaccines. Moreover, rise in adoption rates of preventive and therapeutic vaccines, technological advancements in cancer vaccines, increase in number of cancer cases, and launch of novel cancer vaccines further boost the cancer vaccines market growth. However, high cost for developing cancer vaccines and longer time span required for manufacturing a single vaccine are anticipated to restrict the market growth.
Cancer Vaccines Market Segmentation:
On the basis of technology, the cancer vaccines market is categorized into dendritic cells (DC) cancer vaccines, recombinant cancer vaccines, antigen/adjuvant cancer vaccines, and viral vector & DNA cancer vaccines. The recombinant cancer vaccines segment dominated the global market in 2019, and is expected to maintain its dominance throughout the forecast period. This is attributed to large number of approved cancer vaccines developed using recombinant technology such as Cervarix, and Gardasil.
On the basis of indication, the cancer vaccines market is classified into cervical cancer, prostate cancer, and others. The cervical cancer segment accounted for maximum market revenue in 2019, and is anticipated to maintain its dominant position during the forecast period, owing to increase in number of people suffering from human papilloma virus (HPV) infections. In addition, high prevalence of cervical cancer drives the market growth. However, prostate cancer is expected to grow at the highest CAGR of 14.10% from 2020 to 2027, owing to the rise in demand for Provenge (prostate cancer vaccine) along with increase in number of prostate cancer vaccines in the pipeline.
North America accounted for the largest share of the global cancer vaccines market in 2019, and is expected to remain dominant throughout the forecast period. This was attributed to higher adoption of cancer vaccines, higher number of R&D activities to develop cancer vaccines, large number of target population with higher health awareness, availability of trained medical professionals, and supportive reimbursement policies in the healthcare system. Asia-Pacific is expected to experience the highest growth rate during the forecast period, majorly owing to growth in prevalence of cancer with increase in demand for new cancer vaccines.
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Cancer Vaccines Market: By Region Outlook
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Important Questions Being Answered by the Cancer Vaccines Market Report:
What is the Cancer Vaccines market size and growth?
What are the prominent and latest trends impacting the market?
Which is the largest regional market for Cancer Vaccines?
The major companies profiled in the cancer vaccines market report are Advaxis Inc., Amgen Inc., Dynavax Technologies Corporation, Generex Biotechnology Corporation, GlaxoSmithKline plc (GSK), Immunocellular Therapeutics, Ltd, Merck & Co., Inc., Sanpower Group Co. Ltd. (Dendereon Corporation), UbiVac, and Vaccinogen, Inc., Gritstone Oncology, PaxVax Corporation., Bavarian Nordic, Bharat Biotech., VBI Vaccines Inc., Novavax, Inc., Dynavax Technologies Corporation, Immunomic Therapeutics, Inc., Gamma Vaccines Pty Limited, Sinovac Biotech Ltd., Galena Biopharma, Emergent Biosolutions, Prokarium, and ImmunoBiology Ltd.
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