Cancer vaccines help the immune system develop immunity against specific cancer cells. They prevent occurrence of cancer or slow the growth of tumors by triggering an immune response against tumor antigens. Cancer vaccines offer various advantages such as targeted treatment, reduced side effects, and ability to treat early-stage cancer and prevent disease recurrence. They are also available in combination with other conventional therapies to enhance the treatment effects.
Cancer vaccines help the immune system develop immunity against specific cancer cells. They prevent occurrence of cancer or slow the growth of tumors by triggering an immune response against tumor antigens. Cancer vaccines offer various advantages such as targeted treatment, reduced side effects, and ability to treat early-stage cancer and prevent disease recurrence.
The global Cancer Vaccines Market is estimated to be valued at US$ 1.9 Bn or billion in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights
Market key trends: One of the key trends in the cancer vaccines market is the rising focus on the development of therapeutic cancer vaccines. Therapeutic cancer vaccines are being explored to help the immune system fight existing cancer cells in patients who already have cancer. Researchers are developing vaccines tailored to an individual patient’s own cancer mutations to generate an immune response against tumor cells. Several immunotherapy companies are conducting clinical trials on therapeutic cancer vaccines for different types of cancers with promising results.
SWOT Analysis
Strength: Cancer vaccines leverage the body’s natural defenses to fight cancer. They help train the immune system to recognize and attack cancer cells which can complement other treatment options.
Weakness: Vaccine development is complex and time-consuming process which requires extensive research and testing. The specific mechanisms by which different cancers develops also poses challenges.
Opportunity: Increase in cancer incidence worldwide along with growing awareness about cancer prevention and treatment offers scope for vaccines. Strong pipeline of candidates in clinical trials can address needs of various cancer types.
Threats: High development costs and regulatory requirements make commercialization difficult. Further research is needed to understand immune responses better and address heterogeneity within tumor types.
Key Takeaways
The global cancer vaccines market is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing research into personalized vaccines targeting specific tumor mutations.
Market size: The cancer vaccines market size for 2023 is estimated at US$ 1.9 Bn and is anticipated to reach over US$ 3 Bn by 2030 driven by demand for preventive options.
Regional analysis: North America currently dominates the market owing to supportive reimbursement policies and presence of key industry players. Asia Pacific is expected to witness fastest growth during the forecast period supported by rising healthcare expenditure, large cancer patient pool and improving access to therapies in the region.
Key players: Key players operating in the cancer vaccines market include Astrazeneca Plc. (Medimmune, LLC.), Glaxosmithkline Plc., Merck & Co., Inc., Sanofi Pasteur, Aduro BioTech Inc., Sanpower Group, Astellas Pharma Inc., CSL Limited, Pfizer Inc., and Serum Institute of India Pvt. Ltd. Companies are focused on developing advanced immunotherapies through acquired capabilities in immunotherapy and oncology.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
