IMARC Group’s report titled “Cancer Vaccines Market Report by Type, (Preventive Cancer Vaccines, Therapeutic Cancer Vaccines), Technology (Dendritic Cells Cancer Vaccines, Recombinant Cancer Vaccines, Antigen/Adjuvant Cancer Vaccines, Viral Vector and DNA Cancer Vaccines, Whole-cell Cancer Vaccines), Indication (Cervical Cancer, Prostate Cancer, and Others), End User (Pediatrics, Adults), and Region 2024-2032”. offers a comprehensive analysis of the industry, which comprises insights on the global cancer vaccines market share. The global market size reached US$ 6.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.7 Billion by 2032, exhibiting a growth rate (CAGR) of 10.2% during 2024-2032.
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Factors Affecting the Growth of the Cancer Vaccines Industry:
- Advancements in Immunotherapy and Biotechnology:
The rapid advancements in immunotherapy and biotechnology are impelling the growth of the market. Immunotherapy is revolutionizing cancer treatment by harnessing the immune system of the body to target and destroy cancer cells. Innovations, such as checkpoint inhibitors and personalized cancer vaccines, are enhancing the efficacy and specificity of cancer treatments. Biotechnology advancements enable the development of vaccines tailored to individual genetic profiles and tumor antigens, increasing their effectiveness. Moreover, breakthroughs in recombinant deoxyribonucleic acid (DNA) technology and peptide-based vaccines are facilitating the production of highly specific and potent vaccines.
- Increasing Cancer Incidence and Awareness
The rising incidence of cancer globally is propelling the market growth. The growing burden of cancer underscores the urgent need for effective preventive and therapeutic strategies. Public awareness campaigns and educational initiatives are increasing knowledge about the potential of cancer vaccines to prevent certain types of cancers, such as cervical cancer caused by the human papillomavirus (HPV) and liver cancer linked to hepatitis B virus (HBV). Enhanced awareness is leading to greater acceptance and demand for these vaccines. Additionally, governments and healthcare organizations are promoting vaccination programs and integrating them into national immunization schedules.
- Government Initiatives and Funding
Many governments and international health organizations are recognizing the importance of cancer prevention and are investing in vaccination programs and research. Funding from governmental and non-governmental organizations supports large-scale clinical trials, regulatory approvals, and the integration of cancer vaccines into public health strategies. Policies that promote vaccine coverage and reimbursement are also facilitating market expansion. Furthermore, collaborations between public institutions, private companies, and academia are fostering innovation and reducing the time to market for new vaccines. These supportive policies and financial investments are essential in overcoming the high costs associated with vaccine development and distribution.
Leading Companies Operating in the Global Cancer Vaccines Industry:
- Anixa Biosciences Inc.
- Dendreon Pharmaceuticals LLC
- Dynavax Technologies Corporation
- GSK plc
- Merck & Co. Inc.
- Moderna Inc.
- OSE Immunotherapeutics
- Providence Therapeutics
- Sanofi S.A.
- UbiVac Inc.
- Vaccitech PLC
Cancer Vaccines Market Report Segmentation:
By Type:
- Preventive Cancer Vaccines
- Therapeutic Cancer Vaccines
Preventive cancer vaccine represents the largest segment as it significantly reduces the incidence of cancers associated with specific viruses.
By Technology:
- Dendritic Cells Cancer Vaccines
- Recombinant Cancer Vaccines
- Antigen/Adjuvant Cancer Vaccines
- Viral Vector and DNA Cancer Vaccines
- Whole-cell Cancer Vaccines
Recombinant cancer vaccines hold the biggest market share due to their high degree of specificity, targeting precise antigens associated with cancer cells.
By Indication:
- Cervical Cancer
- Prostate Cancer
- Others
Based on the indication, the market has been divided into cervical cancer, prostate cancer, and others.
By End User:
- Pediatrics
- Adults
On the basis of the end user, the market has been bifurcated into pediatrics and adults.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America’s dominance in the cancer vaccines market is attributed to the increasing occurrence of cancer among the masses.
Global Cancer Vaccines Market Trends:
Rising healthcare expenditure globally is bolstering the market growth. Governments and private healthcare providers are increasing their investment in the healthcare sector to improve infrastructure, enhance research capabilities, and ensure better patient outcomes. This increased spending is facilitating the development and distribution of advanced cancer vaccines. Higher healthcare budgets allow for more substantial funding of research and development (R&D) activities, leading to innovative treatments and the rapid progression of clinical trials. Additionally, improved healthcare infrastructure enables better storage, distribution, and administration of vaccines. Insurance companies and healthcare programs are also more likely to cover the costs of new vaccines, making them accessible to a broader population. This financial support is crucial in reducing the economic burden on patients and encouraging widespread vaccine uptake.
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