Global Cancer Vaccines Market Share Is Expected to Grow At A CAGR Value Of Around 14.75% By 2030

06-Feb-2023 | Facts and Factors

According to Facts and Factors, the global cancer vaccines market size was worth around USD 6.45 billion in 2021 and is predicted to grow to around USD 19.27 billion by 2030 with a compound annual growth rate (CAGR) of roughly 14.75% between 2022 and 2030.

Global Cancer Vaccines Market

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A cancer vaccine is used to either prevent or cure a certain type of cancer. Vaccines used to treat already existing cancer are called tumor antigen vaccines or therapeutic cancer vaccines. Many vaccines that are already on the market or in the developed phase are autologous vaccines which means that they are created using samples from a patient and are to be used only for that patient. As studies have shown, certain cancers can develop due to cancerous cells which attack the immune system and tumors can generate if these cells are not destroyed.

Browse the full “Cancer Vaccines Market Size, Share, Growth Analysis Report By Indication (Bladder Cancer, Cervical Cancer, Lung Cancer, Prostate Cancer, and Others), By Type (Therapeutic and Preventive), By Distribution Channel (Government Suppliers, Hospitals, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030" report at https://www.fnfresearch.com/cancer-vaccines-market

However, there are certain types of cancer that can start due to viruses like cervical cancer or liver cancer. These viruses are called oncoviruses. In such cases, cancer vaccines can be used to either prevent cancer or treat it. Some vaccines used or currently being sold in the market are the hepatitis B vaccine and human papillomavirus (HPV) vaccines. Other cancers may be caused due to some kind of bacterial infection. The first cancer case was over 3000 BC old and till 2022 there is not one cure that can guarantee the treatment of the disease and millions of people continue to die every year due to cancer.

The global cancer vaccine market is projected to grow due to increasing research for the development of new cancer vaccines. International government bodies are laying extreme emphasis on developing vaccines for cancer that can be prevented by administering drugs beforehand. The European wing of the World Health Organization (WHO) has insisted its member states amp up their efforts in eradicating cervical cancer from the region and vaccines are expected to play a major role in these movements. The Strategic Advisory Group of Experts on Immunization, WHO announced that a single dose of HPV vaccine is as powerful as 2-dose vaccines and that member states can choose between the two. The agency has asked member nations to reach 90% nationwide vaccination coverage by the end of 2030.

A recent study conducted in 2022 led to the development of a new cancer vaccine that is anticipated to help increase levels of immune antibodies and will target the immune escape mechanism of cancer cells. Nature published a study in which the mechanisms of how the vaccine works are explained in detail. The new vaccine will work a joint and coordinated immune attack of natural killer (NK) cells and T-cells on the cancer cells.

One of the key restrictions for global market growth is the high failure rate the vaccines have generated in the past few years. All of the vaccines have failed to pass trials and the main reason is that the antigens lack the necessary immune systems as they are created using normal human proteins which means that they generate a weak response in the patient to fight the cancer cells. Another reason for trial failure is that the antigens are too similar to cancer protein. The low success rate is why many countries do not emphasize using vaccines.

The growing efforts by government authorities may increase cancer vaccine accessibility may provide growth opportunities while the limitations with cancer vaccines could be a major challenge during the projection period

Global Cancer Vaccines Market

Segmental Overview 

The global cancer vaccines market is segmented based on indication, type, distribution channel, and region

Based on type, the global market is divided into therapeutic and preventive with the latter leading the global market growth in 2021. Most of the cancer vaccines are enrolled in government-run programs and are administered to patients before they develop cancer. This is most prevalent in the case of cervical cancer where young girls are given the vaccines. In the USA, more than 13000 cervical cancer cases are registered every year.

Based on distribution channel, the global market is segmented into government supplies, hospitals, and others with the government supplied leading the global market growth in 2021. Most of the vaccines are made available at government centers which makes them a part of the national healthcare regime. The recommended age for HPV vaccines is 11 to 12 years however it can be given as early as 9 years of age.

 Regional Overview

North America is anticipated to lead the global cancer vaccines market driven by the high number of approvals from the Food and Drugs Department (FDA) for cancer vaccines and most of them are preventive vaccines. The Centers for Disease Control and Prevention (CDC) has recommended that children between the age group of 11 to 12 years should be given a 2-dose HPV vaccine with a gap of 6 to 12 months. The USA has one of the highest rates of human papillomavirus infections and statistics show that nearly 42% of people between 18 to 59 years of age have an HPV infection. 7% are estimated to be infected by oral HPV.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 6.45 Billion

Projected Market Size in 2030

USD 19.27 Billion

CAGR Growth Rate

14.75% CAGR

Base Year

2021

Forecast Years

2022-2030

Key Market Players

Center of Molecular Immunology, Merck & Co. Inc., Xiamen Innovax Biotech Co. Ltd., Biomed Lublin S.A., Walvax Biotechnology Co. Ltd., and Others

Key Segment

By Indication, Type, Distribution Channel, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

Purchase Options

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Competitive Landscape

The global cancer vaccines market is led by players like Center of Molecular Immunology, Merck & Co., Inc., Xiamen Innovax Biotech Co., Ltd., Biomed Lublin S.A., and Walvax Biotechnology Co., Ltd.

Recent Developments:

  • In October 2022, co-founders of BioNTech, a German company partnering with Pfizer announced that they have made a breakthrough in cancer research and treatment vaccinations should be available by 2030
  • In September 2022, the US FDA granted approval to AST-301 (HER2-hICD vaccine), a therapeutic cancer vaccine developed by Aston Sci., for phase 2 clinical trials

The global cancer vaccines market is segmented as follows:

By Indication

  • Bladder Cancer
  • Cervical Cancer
  • Lung Cancer
  • Prostate Cancer
  • Others

By Type

  • Therapeutic
  • Preventive

By Distribution Channel

  • Government Suppliers
  • Hospitals
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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