Industry Overview of Cancer Vaccines Market
Cancer refers to a malignant tumor caused by the unstoppable growth of abnormal cells in the body. It can be treated through the use of numerous medications and vaccines. Among these, vaccinations are broadly classified into preventive and therapeutic. Preventive cancer vaccines are deployed to eliminate the tumor generated by oncovirus and protect from human papillomavirus (HPV), whereas therapeutic vaccinations aid in stimulating the individual adaptive immune systems by using tumor antigens. Presently, these vaccines are commercially available in varying types, such as antigen, dendritic cells, and anti-idiotype.
How Big Is the Cancer Vaccines Market?
The global cancer vaccines market size reached US$ 6.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.1 Billion by 2028, exhibiting a growth rate (CAGR) of 11.61% during 2023-2028.
Global Industry Trends and Drivers:
The growing prevalence of the tumor, on account of the increasing consumption of tobacco-based products and evolving lifestyles of the masses, is primarily augmenting the cancer vaccines market. Furthermore, the launch of favorable initiatives undertaken by the government bodies of several countries for introducing novel cancer vaccinations and various investments in the field of recombinant viral immunization are positively influencing the global market. Another significant factor contributing to growth is the increasing use of United States Food and Drug Administration (US FDA) approved boosters, such as the human papillomavirus vaccine (HPV) and hepatitis B vaccine (HBV), to lower the risk of specific cancers, like liver tumors. Moreover, the inflating technological advancements that focus on the development of efficient and specific cancer treatments are also bolstering the market growth. Besides this, the expanding healthcare infrastructure, the growing geriatric population, who are susceptible to numerous chronic ailments, including cancer, and the increasing consumer awareness regarding the symptoms and the available therapy options are expected to drive the cancer vaccines market in the coming years.
What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Breakup by Type:
- Preventive Cancer Vaccines
- Therapeutic Cancer Vaccines
Breakup by Technology:
- Dendritic Cells Cancer Vaccines
- Recombinant Cancer Vaccines
- Antigen/Adjuvant Cancer Vaccines
- Viral Vector and DNA Cancer Vaccines
- Whole-cell Cancer Vaccines
Breakup by Indication:
- Cervical Cancer
- Prostate Cancer
Breakup by End User:
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
Anixa Biosciences Inc., Dendreon Pharmaceuticals LLC, Dynavax Technologies Corporation, GSK plc, Merck & Co. Inc., Moderna Inc., OSE Immunotherapeutics, Providence Therapeutics, Sanofi S.A., UbiVac Inc. and Vaccitech plc.