Cancer Vaccine Market Size, Share Report, Analysis, Trends, Growth, 2030

Cancer Vaccine Industry Prospective:

The global Cancer Vaccine market size was worth around USD 7.5 billion in 2022 and is predicted to grow to around USD 18.03 billion by 2030 with a compound annual growth rate (CAGR) of roughly 11.6% between 2022 and 2030.    

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Cancer Vaccine Market: Overview

A cancer vaccine is a type of immunotherapy designed to prevent or treat cancer by stimulating the body's immune system to recognize and target cancer cells. The growing global prevalence of cancer and advancements in cancer immunotherapy are driving the demand for cancer vaccines. On the other hand, the complexity of cancer and individual variability in response to vaccines, along with high development and manufacturing costs, act as key restraints in the cancer vaccine market. It is noted that researchers are exploring the development of personalized cancer vaccines that target specific mutations or proteins unique to an individual's cancer cells. These vaccines are designed to stimulate a patient's immune system to recognize and attack their specific cancer cells.

Key Insights

• As per the analysis shared by our research analyst, the global Cancer Vaccine market is estimated to grow annually at a CAGR of around 11.6% over the forecast period (2023-2030).
• In terms of revenue, the global Cancer Vaccine market size was valued at around USD 7.5 billion in 2022 and is projected to reach USD 18.03 billion, by 2030.
• The major factors propelling the global market for Cancer Vaccine include the advancement in technologies coupled with rising investment by key players
• Based on the type, the Preventive Cancer Vaccines segment is expected to account significant share of the market during the forecast period.
• Based on the Indication, the Cervical Cancer segment is expected to hold a significant market share over the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

Cancer Vaccine Market: Growth Drivers

Rising government support and funding likely to drive market expansion

Government initiatives, policies, and funding directed towards research and development of cancer vaccines are driving the growth of the global cancer vaccine market. Government funding provides financial support for cancer vaccine research and development. This enables scientists and researchers to conduct studies, clinical trials, and explore innovative approaches to cancer vaccine development. The availability of funding encourages more researchers to enter the field, leading to increased innovation and advancements in cancer vaccine technologies.

Government agencies such as the Food and Drug Administration (FDA) in the United States and regulatory bodies in other countries play a key role in evaluating and approving cancer vaccines. Their support ensures that vaccines meet safety and efficacy standards, instilling confidence in the market and facilitating the commercialization of cancer vaccines.

Cancer Vaccine Market: Restraints

Challenges in clinical development and commercialization to restrict market growth

The cancer vaccine industry faces challenges in clinical development and commercialization due to factors such as the complex nature of cancer, variability in patient responses, and the high costs and lengthy timelines associated with clinical trials. Cancer is a heterogeneous disease with multiple subtypes, genetic mutations, and varied responses to treatment. Designing effective cancer vaccines that target specific types of cancer and induce robust immune responses can be challenging. The complexity of cancer biology can delay the development and regulatory approval of cancer vaccines, limiting their availability in the market. These factors can limit the availability and accessibility of approved cancer vaccines, hindering market growth.

Cancer Vaccine Market: Opportunities

Rising global cancer burden to offer growth opportunities for the global market

The increasing prevalence of cancer worldwide is a significant market opportunity for cancer vaccines. As cancer rates continue to rise, there is a growing need for effective prevention and treatment options, driving the demand for cancer vaccines industry. In addition, the field of cancer immunotherapy, including cancer vaccines, has witnessed remarkable advancements in recent years. The development of novel vaccine technologies, personalized vaccines, and combination therapies with immune checkpoint inhibitors has expanded the potential for effective cancer treatment and improved patient outcomes.

Cancer Vaccine Market: Segmentation

The global Cancer Vaccine market is segmented based on type, technology, indication, and region

Cancer vaccines can be classified into two main categories based on type: preventive (prophylactic) vaccines and therapeutic vaccines. Preventive vaccines are used to prevent certain types of cancer caused by specific infectious agents, such as viruses. Whereas, therapeutic vaccines are designed to stimulate the immune system to recognize and attack existing cancer cells. They are used as a treatment option for individuals who have already been diagnosed with cancer.

Depending upon Technology, the global cancer vaccine industry is categorized into recombinant cancer vaccines, whole-cell cancer vaccines, and viral vector & DNA cancer vaccines. Of these, the recombinant cancer vaccines accounted for the highest revenue share. This category is designed using recombinant DNA technology. They involve the insertion of genes that code for specific tumor antigens into a vector, such as a virus or a bacterial plasmid.

In terms of indication, the overall market is divided into cervical cancer, prostate cancer, bladder cancer, melanoma, and others. The bladder cancer segment has captured a notable revenue share. Whereas the prostate cancer segment is projected to grow with the fastest growth rate over the study period.

Recent Developments:

• Moderna, Inc. partnered with Merck & Co., Inc. in December 2022. This collaboration announced positive Phase 2b KEYNOTE-942/mRNA-4157-P201 trial results for mRNA-4157/V940, a personalized mRNA vaccine.
• The United States Food and Drug Administration accepted Anixa Biosciences' Investigational New Drug (IND) application for their breast cancer vaccine in December 2020. This research was funded by the United States Department of Defense.

Cancer Vaccine Market: Report Scope

Cancer Vaccine Market: Regional Analysis

North America is expected to dominate the market during the forecast period

The global Cancer Vaccine market share is dominated by North America. North America, particularly the United States, has a well-developed healthcare infrastructure and research capabilities. This facilitates the discovery, development, and commercialization of innovative cancer vaccines, leading to higher revenue growth in the region.

Asia Pacific region is projected to grow at a promising growth rate during the study period. The Asia Pacific region is experiencing a significant increase in cancer incidence and prevalence due to various factors such as population growth, aging demographics, and changing lifestyles. This rising cancer burden creates a significant market opportunity for cancer vaccines.

Cancer Vaccine Market: Competitive Analysis

The global Cancer Vaccine market is dominated by players like:

• Merck & Co. Inc.
• Amgen Inc.
• Moderna Inc.
• GSK plc
• Dendreon Pharmaceuticals LLC
• Dynavax Technologies
• Ferring B.V.
• Sanofi
• AstraZeneca

Merck is a leading pharmaceutical company that has developed and marketed the HPV vaccines Gardasil and Gardasil 9 for the prevention of cervical, anal, and other HPV-related cancers.

The global Cancer Vaccine market is segmented as follows:

By Type

• Preventive Cancer Vaccines
• Therapeutic Cancer Vaccines

By Technology

• Recombinant Cancer Vaccines
• Whole-cell Cancer Vaccines
• Viral Vector and DNA Cancer Vaccines

By Indication

• Bladder Cancer
  • BCG (Bacillus Calmette-Guérin)
• Prostate Cancer
  • Provenge (Sipuleucel-T)
• Cervical Cancer
  • Gardasil
  • Cervarix
• Melanoma
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa