Dublin, Oct. 11, 2024 (GLOBE NEWSWIRE) -- The "Global Cancer Vaccines Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global cancer vaccine market is expected to grow at a compound annual growth rate of 11.43% over the forecast period, reaching US$17.517 billion in 2029 from US$10.196 billion in 2024
The increased cases of cancer globally due to unhealthy living practices is one of the prime causes behind the cancer vaccine market's growth. The increasing research on inherited cancer and a definitive result in the field is expected to hold a large market for the growth of cancer vaccines. Cancer vaccines have been approved for Human papillomavirus (HPV) and Hepatitis B (HBV) by the FDA, which can provide significant growth to the market in the coming years.
Cancer vaccines are known for causing severe after-symptoms in the body, which may constrain the cancer vaccine market's growth. The increasing research for natural, plant-based Ayurveda therapy for cancer treatment is expected to create some hurdles for future market growth. The loss of immunity with age in the elderly population can also threaten the market's growth due to increased chances of low immune response after the vaccination. Besides that, the high price associated with cancer vaccines can also hamper their market growth.
Increasing cases of cancer worldwide have propelled the market growth.
The change in lifestyle habits, followed by the increasing consumption of unhealthy products like tobacco and cigarettes and exposure to radiation and viruses, has been increasing the number of cancer patients worldwide. According to the World Health Organization, in 2022, nearly 20 million new cancer cases were reported, with an estimated number of deaths reaching up to 9.7 million.
Hence, the same sources further stated that lung cancer was the major cause of cancer deaths and accounted for 12.4% of new cases, followed by breast cancer at 11.6% and colorectal cancer at 9.6%. By 2050, the number of new cancer cases is estimated to reach 55 million, thereby witnessing a 77% increase over 2022's figure. The increasing rate of cancer mortality has put a major focus on the development of cancer vaccines.
Growing history of family cancer syndromes:
Certain types of cancer seem to run in families, which can be due to the same exposure that increases cancer risk like smoking and family running obesity. However, in some cases, like inherited cancer, an abnormal gene is passed along from one generation to another, which can lead to cancer. According to the American Cancer Society, around 5%-10% of all cancers result directly from mutations. Increasing research and a definitive result in this field are expected to hold growth prospects for developing cancer vaccines in the upcoming years.
North America is expected to grow significantly.
Regional-wise, the global cancer vaccine market is divided into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. North America is expected to account for a considerable market share owing to the ongoing investment in cancer research and efforts to bolster the treatment process.
Major economies, namely the USA, are at the forefront of medical innovations and are witnessing significant growth in cancer prevalence. According to the American Cancer Society, in 2023, the expected number of new cancer prevalence in the USA reached 19.5 million, with the number of deaths reaching up to 6.09 million.
Increasing elderly population with low immunity will hamper the market growth.
One of the major restraints on the cancer vaccine market is the growing elderly population, which is accompanied by low-immunity in people. This is expected to serve as a constraint for the market's growth as a weak immune system hampers the immune response of the body and thus reduces the chances of an effective response by the cancer vaccines in the body. UN data suggests that by 2050, around 1 in 6 people in the world will be over the age of 65.
The side effects associated with cancer vaccines can restrain the market expansion.
Cancer Treatment Vaccines can cause various side effects, which depend on various factors like the type of cancer, how advanced it is, the type of vaccine treatment, the dosage, etc. The National Cancer Institute has listed side effects like fatigue, headache, trouble breathing, weakness, chills, fever, low and high blood pressure, and certain allergic reactions. Sipuleucel-T can trigger strokes in human bodies. Fear of such side effects and their severity may hamper the cancer vaccine market's growth.
The availability of other treatment options can negatively impact the market growth.
The availability of Ayurveda and natural therapies in cancer treatment could threaten the cancer vaccine market growth. Although there is no strict evidence or approval that Ayurveda as a system of medicine can treat cancer, researchers have found that yoga, meditation, and Ayurveda approaches are helpful as complementary therapies in cancer treatment.
Besides that, the National Center for Biotechnology Institution, which is part of the U.S. National Library of Medicine, has compiled a list of certain plants, such as Flacourtia romantic, Moringa oleifera, Ficus bengalensis, Semecarpus Anacardium, etc., that have scientific evidence of anticancer properties.
Global Cancer Vaccine Key Market Development:
- In May 2024,NHS England announced the first patient trial with a personalized vaccine for treating bowel cancer, which formed part of its "Cancer Vaccine Launch Pad". This aimed to enable cancer patients willing to participate in clinical trials to be fast-tracked to the nearest participating hospital.
- In July 2023,the UK government formed an agreement with BioNtech SE, which involved providing nearly 10,000 cancer patients with the latest therapies and clinical trials being developed by the biotech firms, including vaccine trials by 2030. The agreement would ensure that patients can benefit from more improved treatment options.
- In December 2022,Moderna Inc. and Merck announced phase 2 of their "mRNA-4157/V940," a personalized mRNA cancer vaccine that would be tested along with Merck's "KEYTRUDA" to analyze the treatment of patients suffering from stage III/IV melanoma.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 135 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $10.19 Billion |
| Forecasted Market Value (USD) by 2029 | $17.51 Billion |
| Compound Annual Growth Rate | 11.4% |
| Regions Covered | Global |
Competitive Landscape
- Major Players and Strategy Analysis
- Market Share Analysis
- Mergers, Acquisitions, Agreements, and Collaborations
- Competitive Dashboard
Leading Companies in the $17.5 Billion Cancer Vaccines Market Include
- AstraZeneca plc
- GlaxoSmithKline plc.
- Merck & Co., Inc.
- Pfizer Inc.
- Moderna Inc.
- OSE Therapeutics
- Nouscom
- OncBioMune Pharmaceuticals Inc.
- Sanofi S.A.
- Bristol-Myers Squibb
Scope of the Report
By Technology
- Dendritic Cells (DC) Cancer Vaccines
- Recombinant Cancer Vaccines
- Antigen/Adjuvant Cancer Vaccines
- Whole-Cell Cancer Vaccines
- Viral Vector & DNA Cancer Vaccines
- Others
By Type
- Preventive Cancer Vaccines
- Therapeutic Cancer Vaccines
By Application
- Cervical Cancer
- Prostate Cancer
- Others
By End-Use
- Pediatric
- Adults
By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Others
- Middle East and Africa
- UAE
- South Africa
- Israel
- Saudi Arabia
- Others
- Asia Pacific
- China
- Japan
- India
- Australia
- Taiwan
- South Korea
- Others
For more information about this report visit https://www.researchandmarkets.com/r/wp19er
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