Cancer Vaccine market projected to reach $24,008.1 Million by 2027

The Cancer Vaccine market was valued at $6,680.8 Million in 2019, and is projected to reach $24,008.1 Million by 2027 growing at a CAGR of 17.45% from 2020 to 2027. Recombinant segment is expected to be the highest contributor to this market, with $2,233.1 Million in 2019, and is anticipated to reach $7,275.4 Million by 2027, registering a CAGR of 16.01%. Dendritic cells segment is anticipated to reach $7,710.6 Million by 2027 with the highest CAGR of 18.28%. Recombinant and Dendritic cells segments collectively expected to account for about 63.8% share of the Cancer Vaccine market in 2019, with the former constituting around 33.4% share. Dendritic cells and Antigen/Adjuvant Vaccines segments are expected to witness significant growth rates at a CAGR of 18.28% and 18.13% respectively, during the forecast period. Presently, share of these two segments is estimated to be around 46.8% in the overall Cancer Vaccine market in 2019, and is anticipated to reach 49.4% by 2027.

Market definition
Cancer vaccines either treats existing cancer or prevents the development of cancer in the body of the host. Currently, there are two types of cancer vaccines, namely prevention vaccines and treatment vaccines. However, some vaccines are also prepared from the samples of the patient and a specific to that patient. Such a vaccine is referred to as autologous vaccines.
Market trends
The cancer vaccine market is recording an exponential growth, accounting to the increasing count of cancer patients across the globe. This growing count has resulted in the invention of a personalized cancer vaccine, to be the latest trendsetter for this market. Also, the application of mRNA for the development of autologous vaccines coupled with the growing advancements in DNA sequencing technology for the development of cancer vaccine will also propel the market growth during the forecast period. Increasing investments for the development of cancer vaccines, advancements in technology along with the growing count of strategic alliances are another market trending factor responsible for increasing the demand for cancer vaccines globally.
Market drivers
The rising incidence of Human Papilloma Virus or HPV infections related to cancer, the developing healthcare infrastructure and the increasing administration of prophylactic cancer vaccines are responsible for driving the market growth. Also, the development and approval of new cancer vaccines coupled with the increasing investments and government funding to support the ongoing cancer vaccine-related researchers are also boosting the growth of this market. Growing awareness about this disease, the robust clinical pipeline under development and the improvement in genome sequencing techniques will also fuel the market growth during the forecast period. Moreover, the increasing demand for such vaccines from the developing regions will also result in a market growth opportunity. However, the need for high capital investment for the development and commercial of cancer vaccines hamper the growth of this market.
Market scope
The cancer vaccines market is segmented on the basis of technology, indication, type, end use, and geography. By technology the market is segmented into dendritic cells (DC) cancer vaccines, recombinant cancer vaccines, antigen/adjuvant cancer vaccines, whole cell cancer vaccines, and viral vector & DNA cancer vaccines. The indication segment includes cervical cancer, prostate cancer, and others. Type segment is divided into preventive cancer vaccines and therapeutic cancer vaccines. On the basis of end use segment the market is segmented into Pediatrics and Adults. Geographic breakdown and deep analysis of each of the aforementioned segments is included for North America, Europe, Asia-Pacific, and LAMEA.
Competitive landscape
Increasing cancer patients across the globe are responsible for fuelling the growth of this market; resulting in increasing the need for the development and invention of economical and effective cancer vaccines. The need for cancer vaccine also creates growth opportunities for the prominent players of the market with the adoption of numerous business alliances. The established players then focus on mergers, partners, collaborations with various academic or research institutes and small scale biotech firm to increase its market share globally. Such strategies also result in the branding of their products. As a result, Vedantra collaborated with Neon for the development of Cancer vaccines. Companies also focus on new product development to enhance their product portfolio; thereby resulting in increasing its market value.
KEY MARKET SEGMENTS:
o Global Cancer Vaccines Market - By Technology
o Dendritic Cells (DC) Cancer Vaccines
o Recombinant Cancer Vaccines
o Antigen/Adjuvant Cancer Vaccines
o Whole Cell Cancer Vaccines
o Viral Vector & DNA Cancer Vaccines
o Global Cancer Vaccines Market - By Indication
o Cervical Cancer
o Prostate Cancer
o Others
o Global Cancer Vaccines Market - By Type
o Preventive Cancer Vaccines
o Therapeutic Cancer Vaccines
o Global Cancer Vaccines Market - By End Use
o Pediatrics
o Adults
o Global Cancer Vaccines Market - By Geography
o North America
? US
? Canada
o Europe
? Germany
? France
? UK
? Rest of Europe
o Asia-Pacific
? Japan
? China
? India
? Rest of APAC
o LAMEA
? Latin America
? Middle East
? Africa
Companies listed
o Aduro Biotech Inc.
o Astellas Pharma Inc.
o Astrazeneca Plc.
o CSL Limited.
o Glaxosmithkline Plc
o Merck & Co., Inc.
o Pfizer Inc.
o Sanofi S.A
o Sanpower Group Co. Ltd.
o Serum Institute of India Pvt. Ltd.

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This release was published on openPR.