Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Cancer Vaccines Market size was valued at USD 10.45 billion in 2024 and is set to exceed USD 43.53 billion by 2037, expanding at over 11.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of cancer vaccines is evaluated at USD 11.48 billion.
Cancer Vaccines Sector: Growth Drivers and Challenges
Growth Drivers
- Rising Cases of Cancer to Increase the Demand for Cancer Vaccines: The World Health Organization reported that cancer is the second leading cause of death globally, with around 9.6 million deaths in 2018. Around 1 in 6 deaths are as a result of cancer and about 70% of deaths from cancer take place in middle and low income countries. Moreover, it states that infections which cause cancer, such as hepatitis virus and human papilloma virus (HPV), are responsible for around 25% of cancer cases in low and middle income regions. The growing cases of cancer around the world, especially those resulting from cancer causing infections, are predicted to significantly raise the demand for cancer vaccines in the market.
- Side Effects of Alternate Cancer Treatment Methods to Boost the Market Growth: Existing treatments for cancer such as chemotherapy and radiotherapy are linked with certain severe side effects, including hair loss, weight loss and others. In order to avoid these, the demand for alternate treatment methods such as cancer vaccines, which are safer and highly effective, is anticipated to increase over the forecast period.
Challenges
- High Cost of Cancer Vaccines to Hamper the Market Growth: As a result of continuous developments and entrance of improved vaccines in the market regularly, the cost of cancer vaccines is high. The increase in manufacturing expenses is high as well, which is predicted to restrict the entry of small drug manufacturers in the market. On account of high costs, people are less likely to opt for cancer vaccines as a prevention method, which is estimated to hamper the market growth in coming years.
Cancer Vaccines Market: Key Insights
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
11.6% |
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Base Year Market Size (2023) |
USD 9.36 billion |
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Forecast Year Market Size (2036) |
USD 38.99 billion |
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Regional Scope |
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Cancer Vaccines Segmentation
The market is segmented by vaccine, by indication, by technology and by region, out of which, the vaccine segment is segmented into therapeutic cancer vaccines and preventive cancer vaccines. The segment for preventive cancer vaccines is anticipated to hold the largest share in the cancer vaccines market on account of growing demand for these vaccines by people for prevention of cancer. Preventive cancer vaccines reduce the risk of infection by cancer causing organisms and help the body to build up immunity against them by creating antibodies. The therapeutic cancer vaccines segment is predicted to grow at the highest rate over the forecast period as a result of high demand for vaccines for the treatment of cancer. Based on technology, the cancer vaccines market is segmented into recombinant vaccine, dendritic cells vaccine, whole cell vaccine, adjuvant vaccine and viral vector & DNA vaccine. According to the National Cancer Institute, the vaccines for prevention of disease causing HPV that are approved for use in the United States include Cervarix, Gardasil and Gardasil 9. These prevent infection from HPV type 16 and 18, which are estimated to cause around 70% of all cervical cancers.
Our in-depth analysis of the global market includes the following segments
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By Vaccine |
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By Indication |
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By Technology |
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Customize this ReportCancer Vaccines Industry - Regional Synopsis
On the basis of regional analysis, the cancer vaccines market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America industry is estimated to dominate majority revenue share by 2037, as a result of highly developed healthcare infrastructure as well as presence of leading key players in the region. The market in Europe is anticipated to hold the second largest share on account of highly advanced technology being used in the region. On the other hand, the market in Asia Pacific is projected to grow at the highest rate over the forecast period as a result of rising cases of cancer in the region and growing presence of leading pharmaceutical and biotechnology companies in the region, especially in China, India and Japan.
Companies Dominating the Cancer Vaccines Landscape
- AstraZeneca
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Bristol-Myers Squibb Company
- GlaxoSmithKline plc.
- Sanofi
- Merck & Co Inc,
- Astellas Pharma Inc.
- VBI Vaccines Inc.
- Moderna, Inc.
- Advaxis Immunotherapies
- Galena Biopharma
In the News
Author Credits: Radhika Pawar
- Report ID: 2402
- Published Date: Dec 23, 2024
- Report Format: PDF, PPT
