Pune, India, Nov. 21, 2022 (GLOBE NEWSWIRE) -- The global cancer vaccines market size was valued at USD 6.43 billion in 2021. The market is expected to grow from USD 7.32 billion in 2022 to USD 19.12 billion by 2029, exhibiting a CAGR of 14.7% during the forecast period. The market is expected to exhibit a CAGR of 14.7% during the forecast period. Increasing cancer cases and strong investments in prophylactic and preventive vaccines may propel market progress. Fortune Business Insights™ provides this information in its report titled “Cancer Vaccines Market, 2022-2029.”
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Cancer Vaccines Market Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 14.7% |
| 2029 Value Projection | USD 19.12 Billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 6.43 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 136 |
COVID-19 Impact:
Manufacturing Restraints Hindered Industry Growth During the Pandemic
This industry was negatively affected during the COVID-19 pandemic, attributable to manufacturing restrictions. The sudden spike in COVID-19 infections provoked governments to impose strict restrictions on manufacturing, thereby affecting cancer vaccines’ production. Further, travel and transport restrictions hindered the availability of raw materials required to produce vaccines. However, the adoption of part-time shifts, reduced capacities, and industrial automation allowed companies to balance their costs during the pandemic.
Segments
Preventive Segment to Dominate Backed by Increasing Initiatives of Mass Immunization by Government Agencies
By type, the market is segmented into preventive and therapeutic. The preventive segment is expected to dominate due to rising initiatives of mass immunization by government agencies.
Cervical Cancer Segment to Lead Attributable to Increasing Number of Cervical Cancer Cases in Women
As per indication, the market is segregated into cervical cancer, bladder cancer, prostate cancer, and lung cancer. The cervical cancer segment is expected to dominate due to the rising number of cervical cases among women.
Hospitals Segment to Lead Due to Rising Outpatient Visits and Easy Availability of Vaccines in Hospitals
Based on distributional channel, the market is classified into hospitals, government suppliers, and others. The hospitals segment is expected to lead due to rising outpatient visits and easy availability of vaccines in hospitals.
Regionally, the market is grouped into North America, Europe, Asia Pacific, and the Rest of the World.
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Drivers and Restraints
Rising Collaborations Among Major Players to Foster Market Progress
Cancer vaccines cure several cancers and are likely to gain significant demand due to the increasing prevalence of cancer cases. Increasing collaborations among key players may substantially boost vaccine adoption during the forecast period. For example, UbiVac, Inc. declared a collaboration alongside Bristol Myers Squibb in June 2020 to evaluate preliminary efficacy, tolerability, and safety among patients. Furthermore, increasing pollution, sedentary lifestyles, and alcohol consumption may enhance cancer vaccine demand. Moreover, the rising prevalence of cervical cancer cases among women may drive the cancer vaccines market growth.
However, personalized medicine advances will likely limit the industry’s growth.
Regional Insights
Presence of Technologically Developed Healthcare Infrastructure to Foster Market Growth in North America
The market in North America stood at USD 2.45 billion in 2021 and is expected to gain a huge portion of the global cancer vaccines market share in the coming years. The presence of several technologically developed healthcare facilities is likely to facilitate industry growth. Furthermore, rising cancer cases globally are expected to enhance the product demand.
In Europe, rising cancer vaccines’ research and development investments are expected to foster the industry’s progress. Furthermore, rapidly increasing cancer disorders are expected to enhance the adoption of cancer vaccines.
In Asia Pacific, increasing government activities to prevent cancer disorders is expected to enhance the demand for the product. Moreover, the increasing adoption of cancer therapeutics is expected to enhance the region's cancer vaccine industry’s progress.
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Competitive Landscape
Key Players Announce Novel Products to Boost their Brand Image
The prominent companies operating in the market announce new products to boost their brand image. For example, Dendreon Pharmaceuticals LLC. announced its manufacturing and CMC alliance to transform iSPC cellular technology in November 2021. This strategy may enable the company to improve its brand image and increase sales. Further, companies deploy research and development, mergers, partnerships, acquisitions, and innovations to boost their market position.
Key Industry Development
- November 2021: Dendreon Pharmaceuticals LLC. entered into a partnership with Grant Hill to launch its novel initiative to empower individuals to make effective decisions to tackle prostate cancer.
List of Key Players Profiled in the Report
- Merck & Co., Inc. (U.S.)
- GSK plc (U.K.)
- Dendreon Pharmaceuticals LLC. (U.S.)
- Walvax Biotechnology Co., Ltd. (China)
- Biomed Lublin S.A. (Poland)
- Serum Institute of India Pvt. Ltd. (India)
- Center of Molecular Immunology (Cuba)
- Organon Teknika Corp., LLC (U.S.)
- Xiamen Innovax Biotech Co., Ltd. (China)
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Table Of Contents :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Prevalence of Cancer, Key Countries/ Region, 2021
- Overview of Regulatory Scenario by Key Countries
- Pipeline Analysis, Key Players
- Key Industry Developments, Mergers, Acquisitions, Product Launches, etc.
- Impact of COVID-19 on Global Cancer Vaccines Market
- Global Cancer Vaccines Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Type
- Preventive
- Therapeutic
- Market Analysis, Insights and Forecast – By Type
-
- Market Analysis, Insights and Forecast – By Indication
-
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospitals
- Government Suppliers
- Others
-
- Cervical Cancer
- Prostate Cancer
- Bladder Cancer
- Lung Cancer
- Market Analysis, Insights and Forecast – By Distribution Channel
-
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- Market Analysis, Insights and Forecast – By Region
- North America Cancer Vaccines Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Type
- Preventive
- Therapeutic
- Market Analysis, Insights and Forecast – By Type
-
- Market Analysis, Insights and Forecast – By Indication
-
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospitals
- Government Suppliers
- Others
-
- Cervical Cancer
- Prostate Cancer
- Bladder Cancer
- Lung Cancer
- Market Analysis, Insights and Forecast – By Distribution Channel
-
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Market Analysis, Insights and Forecast – By Country
- Europe Cancer Vaccines Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Type
- Preventive
- Therapeutic
- Market Analysis, Insights and Forecast – By Type
-
- Market Analysis, Insights and Forecast – By Indication
-
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospitals
- Government Suppliers
- Others
-
- Cervical Cancer
- Prostate Cancer
- Bladder Cancer
- Lung Cancer
- Market Analysis, Insights and Forecast – By Distribution Channel
-
- Market Analysis, Insights and Forecast – By Country/Sub-region
- France
- Italy
- Spain
- UK
- Germany
- Rest of Europe
- Market Analysis, Insights and Forecast – By Country/Sub-region
- Asia Pacific Cancer Vaccines Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Type
- Preventive
- Therapeutic
- Market Analysis, Insights and Forecast – By Type
-
- Market Analysis, Insights and Forecast – By Indication
-
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospitals
- Government Suppliers
- Others
-
- Cervical Cancer
- Prostate Cancer
- Bladder Cancer
- Lung Cancer
- Market Analysis, Insights and Forecast – By Distribution Channel
-
- Market Analysis, Insights and Forecast – By Country/Sub-region
- India
- China
- Australia
- Japan
- Southeast Asia
- Rest of Asia Pacific
- Market Analysis, Insights and Forecast – By Country/Sub-region
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