Cancer Vaccine Market Size Worth USD 21.39 Billion in 2032 | Emergen Research

Increasing prevalence of cancer among individuals and rising investments in development of vaccine are key factors driving cancer vaccine market revenue growth

Vancouver, Jan. 02, 2024 (GLOBE NEWSWIRE) -- The global cancer vaccine market demonstrated a robust USD 7.31 Billion in 2022, with expectations of a substantial CAGR of 10.9% throughout the forecast period. This growth is primarily attributed to the increasing prevalence of cancer and substantial investments in vaccine development. Cancer vaccines, as biological response modifiers, stimulate the body's immune system to combat cancer. The market is witnessing a surge in personalized cancer vaccines, designed to target specific mutations or proteins unique to an individual's cancer cells, leading to heightened effectiveness compared to traditional vaccines.

A notable development in this space occurred on July 12, 2022, when Amazon initiated a cancer vaccine clinical trial in partnership with Fred Hutchinson, focusing on developing personalized vaccines for breast cancer and melanoma.

According to the World Health Organization (WHO), cancer claimed around 10 million lives in 2020, making it the leading global cause of death. The American Cancer Society reported 1.9 million new cancer cases and 609,360 cancer-related deaths in 2022. Increasing awareness, coupled with government and private funding, is expected to further propel market growth.

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Technological advancements are playing a pivotal role, with Moderna's mRNA vaccine showcasing a 44% reduction in the risk of disease recurrence or death in melanoma patients. These advancements offer promising alternatives to conventional cancer treatments like chemotherapy and radiation therapy.

However, concerns regarding side effects and the high cost of cancer vaccines pose challenges to market growth. The National Cancer Institute emphasizes the potential side effects associated with cancer therapies, while cost remains a significant factor hindering market expansion.

Type Insights: Preventive Cancer Vaccines Dominate Market Share

In 2022, preventive cancer vaccines held the largest revenue share, driven by the rising demand for lung, cervical, and breast cancer prevention. Two FDA-approved preventive vaccines, Human papillomavirus (HPV) and Hepatitis B (HepB), are crucial in protecting against viruses that can lead to cancer.

The therapeutic cancer vaccine segment is poised for rapid growth, fueled by increasing cancer prevalence, advancements in vaccine technology, and growing awareness of vaccine benefits. Therapeutic vaccines aid individuals already diagnosed with cancer in their fight against the disease.

Indication Insights: Cervical Cancer Takes Center Stage

Cervical cancer is anticipated to secure a substantial revenue share, given its rising incidence globally. It is the fourth most common cancer leading to death worldwide. Strategic product launches, such as Serum Institute India's announcement of the first HPV CERVAVAC vaccine, further drive growth.

The lung cancer segment is expected to experience moderate growth, with therapeutic cancer vaccines serving as a viable option for treatment, especially when the cancer spreads to critical areas.

End-Use Insights: Hospitals Lead Revenue Share

Hospitals are projected to dominate the end-use segment, capturing the largest revenue share during the forecast period. The increasing number of patient admissions and the utilization of specialized vaccine storage facilities contribute to this dominance.

Regional Insights: North America Leads, Asia Pacific Shows Fastest Growth

North America held the largest revenue share in 2022, driven by a high prevalence of cancer in countries like the U.S. and Canada. Strategic initiatives and collaborations, exemplified by Moderna and Merck's partnership on the Investigational Personalized mRNA Cancer Vaccine, contribute significantly.

Asia Pacific is poised for the fastest revenue growth, owing to the prevalence of cervical and prostate cancer diseases. Initiatives like the launch of India's first cervical cancer vaccine contribute to this growth.

Europe is expected to account for a considerable revenue share due to increasing awareness and strategic initiatives by companies. BioNTech's phase 2 clinical trial of Autogene cevumeran, a personalized cancer vaccine targeting neoantigens, highlights positive developments in the region.

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Scope of Research

Report DetailsOutcome
Market Size in 2022USD7.31 Billion
CAGR (2023–2032)10.9%
Revenue Forecast To 2032USD 21.39  Billion
Base Year For Estimation2022
Historical Data2019–2021
Forecast Period2023–2032
Quantitative UnitsRevenue in USD Billion and CAGR in % from 2023 to 2032
Report CoverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments CoveredType, Indication, technology, end-use, and region
Regional ScopeNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country ScopeU.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Russia, Rest of Europe, China, India, Japan, South Korea, ASEAN Countries, Oceania, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies ProfiledAstraZeneca, F. Hoffmann-La Roche Ltd, GSK, Sanofi, Moderna Inc., Bristol-Myers Squibb Company, Barinthus Biotherapeutics, Dendreon Pharmaceuticals LLC., Elicio Therapeutics, and BioNTech SE
Customization Scope10 hours of free customization and expert consultation

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Major Companies and Competitive Landscape

The global cancer vaccine market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective cancer vaccine solutions in the market. Some major players included in the global cancer vaccine market report are:

  • AstraZeneca
  • F. Hoffmann-La Roche Ltd.
  • GSK
  • Sanofi
  • Moderna, Inc.
  • Bristol-Myers Squibb Company
  • Barinthus Biotherapeutics
  • Dendreon Pharmaceuticals LLC
  • Elicio Therapeutics
  • BioNTech SE

Strategic Development

  • On 11 September 2023, Moderna collaborate with Immatics to develop new cancer vaccine, which will be used mRNA technology to target cancer cells. This was done by using Immatics' data on tumor and normal tissue to identify new targets for cancer vaccines. Moderna's mRNA technology used to develop vaccines that target these targets. This collaboration is a positive development for the cancer vaccine market and for patients with cancer. It has the potential to lead to the development of new and more effective cancer vaccines.
  • On 5 January 2023, BioNTech announced its partnership with the UK government to provide personalized mRNA cancer immunotherapies. The partnership will provide BioNTech with access to the UK's healthcare system, which make it easier to bring its personalized mRNA cancer immunotherapies to market in the UK. This give patient with cancer in the UK access to new and potentially more effective treatment options. The vaccine is more likely to be effective than traditional cancer therapies, such as chemotherapy and radiation therapy, which are not personalized.

Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global cancer vaccine market on the basis of type, Indication, technology, end-use, and region:

  • Type Outlook (Revenue, USD Billion; 2019-2032)
    • Preventive Cancer Vaccine
    • Therapeutic Cancer Vaccine
    • Others
  • Indication Outlook (Revenue, USD Billion; 2019-2032)
    • Lung Cancer
    • Cervical Cancer
    • Prostate Cancer
    • Bladder Cancer
    • Others
  • Technology Outlook (Revenue, USD Billion; 2019-2032)
    • Recombinant Cancer Vaccines
    • Whole-cell Cancer Vaccines
    • Viral Vector and DNA Cancer Vaccines
    • Other Technologies
  • End-use Outlook (Revenue, USD Billion; 2019-2032)
    • Hospitals
    • Research Institute
    • Others
  • Regional Outlook (Revenue, USD Billion; 2019–2032)
    • North America
      1. U.S.
      2. Canada
    • Europe
      1. Germany
      2. France
      3. UK
      4. Italy
      5. Spain
      6. Benelux
      7. Russia
      8. Rest of Europe
    • Asia Pacific
      1. China
      2. Japan
      3. South Korea
      4. India
      5. ASEAN Countries
      6. Oceania
      7. Rest of APAC
    • Latin America
      1. Brazil
      2. Mexico
      3. Rest of LATAM
    • Middle East & Africa
      1. GCC Countries
      2. Israel
      3. Turkey
      4. South Africa
      5. Rest of Middle East & Africa

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