At 9.8%, Cancer Vaccines Market is Expected to Reach USD 12.64 Billion in 2027, Says Brandessence Market Research
28 Jun 2022
Vaccine
LONDON, June 28, 2022 /PRNewswire/ -- Cancer Vaccines MarketCancer Vaccines Market was worth of USD 4.93 Billion in 2020 and it is expected to reach USD 12.64 Billion by the end of 2027 with a CAGR of 9.8% during the Forecast Period. Increasing number of cancer patient, rising geriatric population and investment by the key players and government initiative towards the development of cancer vaccine are anticipated to drive the growth of global cancer vaccine market.
Cancer Vaccines Market Size, Share & Trends Analysis Report By Type (Therapeutic Cancer Vaccine, Preventive Cancer Vaccine, Others) By Application (Prostate Cancer, Cervical Cancer, Others) By Technology (Whole-Cell Cancer Vaccine, DNA Cancer Vaccine, Recombinant Cancer Vaccine, Others) Based On Region, And Segment Forecasts, 2022 – 2028
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Cancer Vaccines Market: Market Scope
The global cancer vaccines market is seen growing in stature in the past few years and is expected to continue this trend further in the coming years. The cancer vaccines are the medicines which are considered as being the biological response modifiers. These biological response modifiers work by the stimulation of the body's immune systems for fighting against cancer. The preventive cancer vaccines and the therapeutic cancer vaccines are a couple of cancer vaccines which are used in a healthy person to prevent cancer. The Therapeutic cancer vaccines are used in the patients for strengthening their immune response to fight against this deadly disease. The cancer vaccine may be administered in an IV form in children and adults.
Cancer Vaccines Market: Key Drivers
The cancer patients are increasing all over the world and so is the geriatric population. There is surge in the patient awareness towards the therapies which are available for cancer, increase in the usage of vaccines in combination with other therapies. The increased prevalence of the HPV infections and increased funding from governments and investments along with funding in the development of the cancer vaccines by the manufacturers are some of the major factors which drive the growth of the global cancer vaccines market.
Further, the technological developments in the cancer vaccines, launch of the novel cancer vaccines and the rising health care service and expenditure in addition to the rise in the rate of adoption in the therapeutic and preventive vaccines and a few other factors help in the growth of this market. Furthermore, the increase in consumption of tobacco and the consumption of an unhealthy diet is going to be a major factor which contributes in the global cancer vaccines market growth. The one factor which does cause a loss in the penetration of the market is the higher cost for the development of cancer vaccines and the long time span it takes for manufacturing of one vaccine is among the major reasons behind the growth of this market.
Among the most common kinds of cancer all over the world are the prostate, lung, bowel and breast cancer. These are cancers which cause the leading amount of disruptions all over the world and it is then the rise in the incidences of cancer all over the world which is going to boost the demand for the vaccines all over the world in the global cancer vaccines market.
There are also reports that some nations have been using plant-based treatments as their main sources and the developing nations are using the plant-based treatments for cancer. As per WHO, the homeopathic market is another market which will go on to gain great ground in future and it is going to gain a certain level of traction in the coming years. the trend will limit the growth of the global cancer vaccines market.
Cancer Vaccines Market: Competitive Analysis:
The major players in the global cancer vaccines market are companies like Generex Biotechnology Corporation, Dynavax Technologies Corporation, Merck & Co., Inc., Sanpower Group Co. Ltd. (Dendereon Corporation) Immunocellular Therapeutics, Ltd, Vaccinogen, Inc and UbiVac. This is a market which is going to grow at a steady rate in the coming years and market players have to make their vaccines accessible to people all over the world which will help them get a greater share in the market.
Sanpower Group Co.ltd
Etherna, Gradalis Inc.
Sotio AS
Others
Cancer Vaccines Market: Segmentation Analysis
The segmentation of the global cancer vaccines market has been done on the basis of technology. In this type of segment, the recombinant cancer vaccines segment has been growing the quickest and has been contributing the greatest amount of revenue. The reason for this growth is the increased adoption of the recombinant technology, rising utilization of the vaccine, surging number of approved vaccines which are developed using the technology and that is a key factor in boosting the growth of the market.
The market has also been segmented on the basis of indication, the biggest shareholding here is for the cervical cancer segment. This is because the cervical cancer is among the most prevailing cancers. This is going to increase further as the people who are suffering from the cervical cancer are increasing with every passing day. The awareness that is being spread is another reason why this market is growing at a breakneck pace.
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By Type
Therapeutic Cancer Vaccine
Preventive Cancer Vaccine
Others
By Application
Others
By Technology
Whole-cell Cancer Vaccine
DNA Cancer Vaccine
Recombinant Cancer Vaccine
Others
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Cancer Vaccines Market: Key Trends
Cervical cancer growth has also seen a certain amount of growth in the last few years and it is the second most common type of cancer in women. Therefore, the number of cases can be limited significantly with the use of vaccine and that is going to drive the growth of this market in a significant manner.
The coronavirus pandemic has been working in the negative for this vaccine as the matter became international concern and it restricted the movement and trade of vaccines along with the manufacturing units which were greatly restricted. The healthcare workers too were engaged in the COVIDCOVID pandemic work and that created short supply leading to a downfall in the global cancer vaccines market.
Cancer Vaccines Market: Regional Analysis
The Asia-Pacific region is going to offer a great opportunity for major players in this market due to the rising adoption of the cancer vaccines and increasing number of the cancer patients in the emerging economies. The development in the research and development sector, rising healthcare reforms and the technological advancements in the cancer vaccines is going to boost this market growth. Further, the rise in demand for the vaccines and funding from governments in this region will continuously grow the global cancer vaccines market.
On Special Requirement Cancer Vaccines Market Report is also available for below region:
North America
U.S, Canada
Europe
Germany, France,U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe
Asia-Pacific
South_Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Latin America
Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
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