NEW YORK, United States, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Cancer Vaccine Market By Type (Preventive Cancer Vaccines, And Therapeutic Cancer Vaccines), By Technology (Recombinant Cancer Vaccines, Whole-Cell Cancer Vaccines, And Viral Vector & DNA Cancer Vaccines), By Indication (Bladder Cancer, Prostate Cancer, Cervical Cancer, Melanoma, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the global cancer vaccine market size was valued at about USD 7.5 billion in 2022. The market is expected to grow at a CAGR of 11.6% and is anticipated to reach over USD 18.03 billion by 2030.”
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Cancer Vaccine Market Overview:
A cancer vaccine is an immunotherapy intended to prevent or treat cancer by stimulating the immune system to recognize and target cancer cells. Demand for cancer vaccines is being driven by the rising global incidence of cancer and advances in cancer immunotherapy. On the other hand, the complexity of cancer and individual variation in response to vaccines, as well as high development and manufacturing costs, are significant market restraints for cancer vaccines. It is noted that researchers are investigating the creation of personalized cancer vaccines that target specific mutations or proteins that are unique to a person's cancer cells. These vaccines are intended to stimulate the immune system of a patient to recognize and target their specific cancer cells.
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- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
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- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Historic and Forecast Growth, Porter's 5 Forces Analysis
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Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 7.5 Billion |
| Market Forecast in 2030 | USD 18.03 Billion |
| Growth Rate | CAGR of 11.6% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Merck & Co. Inc., Amgen Inc., Moderna Inc., GSK plc, Dendreon Pharmaceuticals LLC, Dynavax Technologies, Ferring B.V., Sanofi, AstraZeneca, and others. |
| Segments Covered | By Type, By Technology, By Indication, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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Key Insights from Primary Research
- The major factors propelling the global market for Cancer Vaccine include the advancement in technologies coupled with rising investment by key players
- Based on the type, the Preventive Cancer Vaccines segment is expected to account significant share of the market during the forecast period.
- Based on the Indication, the Cervical Cancer segment is expected to hold a significant market share over the forecast period.
- Based on region, North America is expected to dominate the market during the forecast period.
Cancer Vaccine Market: Growth Drivers
- Rising government support and funding likely to drive market expansion
Government initiatives, policies, and funding geared towards the research and development of cancer vaccines drive the expansion of the global market for cancer vaccines. Government funding supports cancer vaccine research and development financially. This enables scientists and researchers to conduct studies, clinical trials, and investigate novel approaches to the development of cancer vaccines. The availability of funding encourages more researchers to enter the field, resulting in greater innovation and progress in cancer vaccine technologies.
In evaluating and approving cancer vaccines, government agencies such as the Food and Drug Administration (FDA) in the United States and regulatory authorities in other nations play a crucial role. Their support ensures that vaccines are safe and effective, instilling market confidence and facilitating the commercialization of cancer vaccines.
Cancer Vaccine Market: Restraints
- Challenges in clinical development and commercialization to restrict market growth
The cancer vaccine industry faces difficulties in clinical development and commercialization due to factors such as the complexity of cancer, the variability of patient responses, and the high costs and protracted timelines associated with clinical trials. Multiple subtypes, genetic mutations, and diverse therapeutic responses characterize cancer as a heterogeneous disease. Developing effective cancer vaccines that target particular cancer types and stimulate robust immune responses can be difficult. The complexity of cancer biology can delay the development and regulatory approval of cancer vaccines, thereby limiting their availability on the market. These factors can limit the availability and accessibility of approved cancer vaccines, inhibiting market growth.
Browse the full “Cancer Vaccine Market By Type (Preventive Cancer Vaccines, And Therapeutic Cancer Vaccines), By Technology (Recombinant Cancer Vaccines, Whole-Cell Cancer Vaccines, And Viral Vector & DNA Cancer Vaccines), By Indication (Bladder Cancer, Prostate Cancer, Cervical Cancer, Melanoma, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/cancer-vaccine-market
Cancer Vaccine Market: Segmentation
The global Cancer Vaccine market is segmented based on type, technology, indication, and region
Cancer vaccines can be classified into two main categories based on type: preventive (prophylactic) vaccines and therapeutic vaccines. They are used as a treatment option for individuals who have already been diagnosed with cancer.
Depending upon Technology, the global cancer vaccine industry is categorized into recombinant cancer vaccines, whole-cell cancer vaccines, and viral vector & DNA cancer vaccines. Of these, the recombinant cancer vaccines accounted for the highest revenue share. This category is designed using recombinant DNA technology.
In terms of indication, the overall market is divided into cervical cancer, prostate cancer, bladder cancer, melanoma, and others. The bladder cancer segment has captured a notable revenue share. Whereas the prostate cancer segment is projected to grow with the fastest growth rate over the study period.
Regional Analysis:
- North America is expected to dominate the market during the forecast period
North America dominates the worldwide Cancer Vaccine market share. North America, and the United States in particular, has a well-developed healthcare infrastructure and research capacity. This facilitates the discovery, development, and commercialization of innovative cancer vaccines, resulting in an increase in regional revenue growth.
The Asia-Pacific region is anticipated to expand at a promising rate during the research period. Due to factors such as population growth, ageing demographics, and changing lifestyles, the Asia-Pacific region is experiencing a considerable increase in cancer incidence and prevalence. This escalating cancer burden represents a substantial market opportunity for cancer vaccines.
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Competitive Players:
The report contains qualitative and quantitative research on the global Cancer Vaccine market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global Cancer Vaccine market include;
- Merck & Co. Inc.
- Amgen Inc.
- Moderna Inc.
- GSK plc
- Dendreon Pharmaceuticals LLC
- Dynavax Technologies
- Ferring B.V.
- Sanofi
- AstraZeneca
Recent Industry Developments:
- Moderna, Inc. partnered with Merck & Co., Inc. in December 2022. This collaboration announced positive Phase 2b KEYNOTE-942/mRNA-4157-P201 trial results for mRNA-4157/V940, a personalized mRNA vaccine.
- The United States Food and Drug Administration accepted Anixa Biosciences' Investigational New Drug (IND) application for their breast cancer vaccine in December 2020. This research was funded by the United States Department of Defense.
The global Cancer Vaccine market is segmented as follows:
By Type
- Preventive Cancer Vaccines
- Therapeutic Cancer Vaccines
By Technology
- Recombinant Cancer Vaccines
- Whole-cell Cancer Vaccines
- Viral Vector and DNA Cancer Vaccines
By Indication
- Bladder Cancer
- BCG (Bacillus Calmette-Guérin)
- Prostate Cancer
- Provenge (Sipuleucel-T)
- Cervical Cancer
- Gardasil
- Cervarix
- Melanoma
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Questions Answered in This Report:
What is a cancer vaccine?
A cancer vaccine is a type of immunotherapy designed to prevent or treat cancer by stimulating the body's immune system to recognize and target cancer cells. The growing global prevalence of cancer and advancements in cancer immunotherapy are driving the demand for cancer vaccines.
Which key factors will influence the Cancer Vaccine market growth over 2023-2030?
A cancer vaccine is a type of immunotherapy designed to prevent or treat cancer by stimulating the body's immune system to recognize and target cancer cells. The growing global prevalence of cancer and advancements in cancer immunotherapy are driving the demand for cancer vaccines.
What will be the value of the Cancer Vaccine market during 2023-2030?
According to the report, the global Cancer Vaccine market size was worth around USD 7.5 billion in 2022 and is predicted to grow to around USD 18.03 billion by 2030 with a compound annual growth rate (CAGR) of roughly 11.6% between 2022 and 2030.
Which region will contribute notably towards the Cancer Vaccine market value?
The global Cancer Vaccine market share is dominated by North America. North America, particularly the United States, has well-developed healthcare infrastructure and research capabilities. This facilitates the discovery, development, and commercialization of innovative cancer vaccines, leading to higher revenue growth in the region.
What can be expected from the global cancer vaccine market report?
The report analyzes the global Cancer Vaccine market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Cancer Vaccine market.
Key Offerings:
- Comprehensive analysis of the primary market
- Significant alterations in market dynamics
- The market's segment specifications
- Statistics and revenue market analysis of historical, present, and forecast
- Evaluation of niche developments in the market
- Market share evaluation
- Principal strategies of market leaders
- Emerging markets and regional segments
- In order to strengthen the market position of businesses, testimonials are provided
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