Global Cancer Vaccine Market Size, Share & Trends Analysis Report by Type (Preventive Vaccines and Therapeutic Vaccines), By Technology (Dendritic Cell Vaccines, Conjugate Vaccines, Inactive Vaccines, Live Attenuated Vaccines, Recombinant Vector Vaccines, and Others), By End-User (Hospitals and Clinics, Research Institutes, Pharmaceuticals & Biotechnology Companies, and Others) Forecast Period 2022-2028
The global cancer vaccine market is growing at a significant CAGR of 13.8% during the forecast period (2022-2028). The major factors that are augmenting the growth of the cancer vaccine market are the high mortality rate across the globe with the increase in the population of cancer patients and resistance to conventional treatment techniques. For instance, according to the International Agency for Research on Cancer, World Health Organization, in the US in 2020, the total mortalities due to the cancers cases was 322,028 in males and 290,362 was in females, which is expected to reach 489,580 by 2040 in male and 414,073 in female.
Treatments include chemotherapy and radiation therapy that can further lead to side effects such as fatigue, skin infection, and hair loss. To overcome this, market players are involved in launching cancer vaccines and the rising government policies and initiatives are the major factors that are fueling the market growth in the forecast period. For Instance, the Cervarix vaccine launched by GlaxoSmithKline plc had an increment of 178 % in 2020 when compared to the previous year. In 2019, the revenue generated through Ceravix by the company was $50 million which raised to $139 million in 2020. However, one of the major restraints is that the growth is likely to decline from 2022 as the patent expiry date in Europe for the vaccine is 2022 and in the US it is 2028.
However, certain factors are affecting the growth of the market. Strict regulatory policies by FDA and government authorities, high cost to maintain proper vaccine temperature, and restricting and delaying the launch of new vaccines are some of the challenges which cancer vaccine market is expected to face in the forecast period.
Impact of COVID-19 Pandemic on Global Cancer Vaccine Market
The global cancer vaccine market was negatively affected by the COVID-19 pandemic since December 2019. COVID-19 has affected around 210 countries across the globe. The COVID-19 pandemic in the major economies has disrupted the manufacturing and supply of cancer vaccines across the globe. As the number of COVID-19 cases increased, healthcare systems around the globe turned their priority to containing the disease, delaying the prevention, diagnosis, and treatment of other chronic disorders such as cancer. As a result, the cancer vaccine market is now predicted to face a negative impact. The market will witness “W” shape recovery in near future owing to the restart of key industries in major economies. Conversely, an increase in the research for the alternatives of various therapies to reduce the burden of cancer cases is estimated to provide lucrative growth opportunities to the market players.
The market is segmented based on type, technology, and end-user. By type, the market is segmented into preventive vaccines and therapeutic vaccines. The preventive vaccine segment holds a significant market share in 2020. The preventive vaccine market growth is driven by the rising number of cancer patients across the globe. The preventive vaccine providers include Pfizer, CureVac AG, GlaxoSmithKline plc, and Janssen Global Services, LLC among others. Further, significant researches on new testing vaccines are expected to contribute to the market growth. Based on the technology segment, the market is segmented into dendritic vaccines, conjugate vaccines, inactivated vaccines, live attenuated vaccines, recombinant vector vaccines, and others. Further, based on the end-user segment, the market is segmented into hospitals and clinics, research institutes, pharmaceuticals and biotechnology companies, and others.
Global Cancer Vaccine Market Share by Type, 2020 (%)
Global Cancer Vaccine Market Share by Type
Preventive Vaccines Segment to Hold a Lucrative Share in the Global Cancer Vaccine Market
Amongst the type segment of the global cancer vaccines market, the preventive vaccine segment is projected to grow at a substantial rate over the forecast period. Vaccines that are intended to prevent cancer in healthy persons are known as preventive or prophylactic vaccines. These vaccines function by protecting against infectious pathogens that can cause or contribute to cancer. The US FDA has approved the two cancer prevention vaccines such as human papillomavirus vaccination (HPV) and the hepatitis B vaccine. Besides this, according to the National Cancer Institute, Gardasil, Gardasil 9, and Cervarix are the three vaccinations approved by the US FDA to prevent HPV infection. Gardasil and Gardasil 9 have been approved for use in the prevention of HPV-related cervical, vaginal, and anal cancer in women. Cervarix was approved for the prevention of cervical cancer in women caused by HPV.
The global cancer vaccine market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is classified into North America (the US and Canada), Europe (UK, France, Germany, Spain, Italy, and the Rest of Europe), Asia Pacific (India, China, Japan, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East and Africa, and Latin America). North America is estimated to be the leading region in the global cancer vaccine market. The presence of most of the major companies and developed healthcare infrastructure are the factors driving the growth of the market in this region. The US accounts for the major share in this region. For instance, according to the WHO in 2020, the US had 2.28 million cancer patients.
Global Cancer Vaccine Market Growth, by Region 2022-2028
Global Cancer Vaccine Market Growth, by Region
Asia-Pacific is projected to highest Contributor to the growth of the Global Cancer Vaccine market
Asia-Pacific is anticipated to be the fastest-growing region in the global cancer vaccine market. In the region, China, South Korea, Japan, Singapore, and India are showing rapid progress. The major factors driving the growth of the market in this region are government initiatives and policies and the rise in healthcare expenditure in emerging economies. Moreover, an increase in cancer patients is expected to result in an increase in cancer vaccine market revenue in the forecast period. For instance, as per the WHO in 2020, there are more than 5.0 million new cases of cancer in China and 1.7 million cases in India. Whereas, in Japan, the total number of cancer cases was around 0.8 million in 2020. Contrarily, the mortalities due to cancer in India, China, and Japan are 1.0 million, 3.2 million, and 0.4 million respectively. The rising prevalence of cancer and mortalities due to cancer is increasing the demand for cancer vaccines during the forecast period.
Market Players Outlook
Key players of the cancer vaccine market are Bristol-Myers Squibb, Merck & Co. Inc., GlaxoSmithKline plc, Eli Lilly and Company, Pfizer Inc., Dendreon Pharmaceuticals LLC, and Janssen Global Services, LLC. To survive in the market these players adopt different marketing strategies such as a merger, acquisitions, product launch, and geographical expansion so on. For instance: In January 2019, GlaxoSmithKline plc acquired TESARO Inc. to strengthens GSK’s pharmaceutical business and to accelerate the building of GSK’s pipeline in the field of oncology. The cash agreement was done for $5.1 billion.
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global cancer vaccine market based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying who-stands-where in the market.
Table of Contents
- Current Industry Analysis and Growth Potential Outlook
- Impact of COVID-19 on the Global Cancer Vaccine Industry
- Recovery Scenario of Global Cancer Vaccine Industry
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
3.1.1. Bristol-Myers Squibb
220.127.116.11. Financial Analysis
18.104.22.168. SWOT Analysis
22.214.171.124. Recent Developments
3.1.2. Eli Lilly and Co.
126.96.36.199. Financial Analysis
188.8.131.52. SWOT Analysis
184.108.40.206. Recent Developments
3.1.3. GlaxoSmithKline plc
220.127.116.11. Financial Analysis
18.104.22.168. SWOT Analysis
22.214.171.124. Recent Developments
3.1.4. Merck & Co. Inc.
126.96.36.199. Financial Analysis
188.8.131.52. SWOT Analysis
184.108.40.206. Recent Developments
3.1.5. Pfizer Inc.
220.127.116.11. Financial Analysis
18.104.22.168. SWOT Analysis
22.214.171.124. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid on key players
5.1.1. Preventive Vaccines
5.1.2. Therapeutic vaccines
5.2. Global Cancer Vaccine Market by Technology
5.2.1. Dendritic Cell Vaccines
5.2.2. Conjugate Vaccines
5.2.3. Inactivated Vaccines
5.2.4. Live Attenuated Vaccines
5.2.5. Recombinant Vector Vaccines
5.3. Global Cancer Vaccine Market by End-User
5.3.1. Hospitals and Clinics
5.3.2. Research Institutes
5.3.3. Pharmaceuticals & Biotechnology Companies
6.1.1. United States
6.2.6. Rest of Europe
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7.2. Advaxis Inc.
7.3. Amgen Inc.
7.4. Astellas Pharma Inc.
7.5. AstraZeneca PLC
7.6. Dendreon Pharmaceuticals LLC
7.7. Dynavax Technologies Corp.
7.8. F. Hoffmann-La Roche AG
7.9. Generex Biotechnology Corp.
7.10. Immunocellular Therapeutics, Ltd.
7.11. Moderna, Inc.
7.12. OSE Immunotherapeutics SA
7.13. Sanofi SA
7.14. Vaccinogen, Inc.
7.15. Welland Medical Ltd.
A selection of companies mentioned in this report includes:
- AduroBioTech, Inc.
- Advaxis Inc.
- Amgen Inc.
- Astellas Pharma Inc.
- AstraZeneca PLC
- Dendreon Pharmaceuticals LLC
- Dynavax Technologies Corp.
- F. Hoffmann-La Roche AG
- Generex Biotechnology Corp.
- Immunocellular Therapeutics, Ltd.
- Moderna, Inc.
- OSE Immunotherapeutics SA
- Sanofi SA
- Vaccinogen, Inc.
- Welland Medical Ltd.