DUBLIN–(BUSINESS WIRE)–The “Cancer Vaccines Market by Technology, Type, Indication and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027” report has been added to ResearchAndMarkets.com’s offering.
The global cancer vaccines market was valued at $4,188 million in 2019, and is projected to reach $7,303 million by 2027, registering a CAGR of 12.6% from 2020 to 2027.
Vaccine is a biological preparation that strengthens the immune system and provides acquired immunity against a specific pathogen. Cancer vaccines are popularly used to treat various types of cancers such as breast cancer, lung cancer, prostate cancer, and cervical cancer. In addition, it offers numerous benefits as it can stop the growth of tumor cells, prevents cancer relapse, and destroys tumor cells that are left behind after treatment. There are two types of vaccines available in market, namely, preventive cancer vaccines and therapeutic cancer vaccines. Preventive cancer vaccines are traditional cancer vaccines used in healthy people to prevent cancer. Therapeutic cancer vaccines are type of immunotherapy vaccines used for metastatic prostate cancer, human papillomavirus (HPV), and hepatitis B virus.
The factors that drive the cancer vaccines market are rise in prevalence of cancer such as breast cancer, prostate cancer, and cervical, lung cancer globally, and surge in investments and governmental funding for the development of cancer vaccines by manufacturers. In addition, increase in cancer vaccines usage combined with other therapies, surge in demand for cancer vaccines, the rise in public awareness toward benefits of cancer vaccines, increase in prevalence of human papilloma virus (HPV) infections, and launch of new cancer vaccines further fuel market growth. However, high cost for developing cancer vaccines and longer time span required for manufacturing a single vaccine are anticipated to restrict market growth. Furthermore, growth in transition from prophylactic to therapeutic cancer vaccines is expected to offer lucrative opportunities in the near future.
The global cancer vaccines market is segmented on the basis of technology, type, indication, end user, and region. By technology, the market is categorized into dendritic cells (DC) cancer vaccines, recombinant cancer vaccines, antigen/adjuvant cancer vaccines, and viral vector & DNA cancer vaccines. (Read more…) By type, it is bifurcated into preventive cancer vaccines and therapeutic cancer vaccines. By indication, it is classified into cervical cancer, prostate cancer, and others. By end user, it is divided into pediatric and adult. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits
- The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers a quantitative analysis from 2019 to 2027, which is expected to enable the stakeholders to capitalize on the prevailing market opportunities.
- A comprehensive analysis of four regions are provided to determine the existing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global market.
Key Players
- Advaxis Inc.
- Amgen Inc.
- Dynavax Technologies Corporation
- Generex Biotechnology Corporation
- GlaxoSmithKline plc (GSK)
- Immunocellular Therapeutics, Ltd
- Merck & Co., Inc.
- Sanpower Group Co. Ltd. (Dendereon Corporation)
- UbiVac
- Vaccinogen, Inc.
Market Dynamics
Drivers
- Rise in Prevalence of Human Papilloma Virus (Hpv) Cancer
- Increase in Administration of Prophylactic Cancer Vaccines
- Rise in Development of New Cancer Vaccines
- Launch and Approval of New Cancer Vaccines in the Market
Restraints
- High Cost and Longer Timelines Required for Development of Cancer Vaccines
Opportunities
- High Growth Prospects in Emerging Markets
For more information about this report visit https://www.researchandmarkets.com/r/5qdhfj
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