Increasing prevalence of cancer among individuals and rising investments in development of vaccine are key factors driving market revenue growth.

VANCOUVER, BRITISH COLUMBIA, CANADA, June 28, 2024 /EINPresswire.com/ -- The global cancer vaccine market size was USD 7.31 Billion in 2022 and is expected to register a rapid revenue CAGR of 10.9% during the forecast period.  The global cancer vaccine market is witnessing significant growth, driven by rising cancer prevalence and substantial investments in vaccine development. Cancer vaccines, designed to stimulate the body's immune response against cancer cells, are emerging as pivotal tools in cancer treatment.

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Market Dynamics

Cancer vaccines are categorized into preventive and therapeutic types, leveraging technologies such as peptide, dendritic cell, and RNA vaccines. The market is propelled by advancements in personalized cancer vaccines, targeting specific mutations or proteins unique to individual cancer cells. This approach enhances efficacy compared to traditional treatments like chemotherapy and radiation.

According to the World Health Organization (WHO), cancer accounted for approximately 10 million deaths globally in 2020, underscoring the urgent need for effective treatments. The American Cancer Society reported 1.9 million new cases and 609,360 deaths from cancer in 2022. Increasing awareness, coupled with governmental and private funding, supports ongoing research and development efforts in cancer vaccines.

Technological Advancements

Recent advancements in mRNA vaccine technology, such as those announced by Moderna, demonstrate promising efficacy in reducing disease recurrence or death in melanoma patients. These technological strides underscore the potential of next-generation vaccines to mitigate side effects associated with conventional therapies.

Market Challenges

Despite promising advancements, challenges like potential side effects and high costs associated with cancer vaccines pose significant barriers to market expansion. Radiation therapy, while effective, can lead to various side effects, highlighting the need for safer treatment options.

Segment Insights

Cancer Vaccine Types: The market is segmented into preventive and therapeutic vaccines, with preventive vaccines dominating due to their efficacy in combating cancers like lung, cervical, and breast cancers.

Indications: Cervical cancer holds a substantial revenue share, driven by increasing incidence rates globally. Innovative launches, such as India's indigenous HPV vaccine, Cervavac, highlight significant strides in preventive care.

End-Use: Hospitals lead in revenue contribution, equipped with specialized facilities for vaccine storage and administration. This segment benefits from growing patient admissions and specialized handling requirements.

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 Cancer Vaccine Top Companies and Competitive Landscape

The global cancer vaccine market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective cancer vaccine solutions in the market.

Some major players included in the global cancer vaccine market report are:

AstraZeneca

Hoffmann-La Roche Ltd.

GSK

Sanofi

Moderna, Inc.

Bristol-Myers Squibb Company

Barinthus Biotherapeutics

Dendreon Pharmaceuticals LLC

Elicio Therapeutics

BioNTech SE

Cancer Vaccine Latest Industry Updates

On 11 September 2023, Moderna collaborate with Immatics to develop new cancer vaccine, which will be used mRNA technology to target cancer cells. This was done by using Immatics' data on tumor and normal tissue to identify new targets for cancer vaccines. Moderna's mRNA technology used to develop vaccines that target these targets. This collaboration is a positive development for the cancer vaccine market and for patients with cancer. It has the potential to lead to the development of new and more effective cancer vaccines.

On 5 January 2023, BioNTech announced its partnership with the UK government to provide personalized mRNA cancer immunotherapies. The partnership will provide BioNTech with access to the UK's healthcare system, which make it easier to bring its personalized mRNA cancer immunotherapies to market in the UK. This give patient with cancer in the UK access to new and potentially more effective treatment options. The vaccine is more likely to be effective than traditional cancer therapies, such as chemotherapy and radiation therapy, which are not personalized.

Cancer Vaccine Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global cancer vaccine market on the basis of type, Indication, technology, end-use, and region:

Type Outlook (Revenue, USD Billion; 2019-2032)

Preventive Cancer Vaccine

Therapeutic Cancer Vaccine

Others

Indication Outlook (Revenue, USD Billion; 2019-2032)

Lung Cancer

Cervical Cancer

Prostate Cancer

Bladder Cancer

Others

Technology Outlook (Revenue, USD Billion; 2019-2032)

Recombinant Cancer Vaccines

Whole-cell Cancer Vaccines

Viral Vector and DNA Cancer Vaccines

Other Technologies

End-use Outlook (Revenue, USD Billion; 2019-2032)

Hospitals

Research Institute

Others

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Europe

Germany

France

UK

Italy

Spain

Benelux

Russia

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

ASEAN Countries

Oceania

Rest of APAC

Latin America

Brazil

Mexico

Rest of LATAM

Middle East & Africa

GCC Countries

Israel

Turkey

South Africa

Rest of Middle East & Africa

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