PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1623615
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1623615
The global cancer vaccines market is projected to surpass USD 20.47 billion in 2032 from USD 10.61 billion in 2024, with a significant CAGR of 8.6%. The market is witnessing robust growth, fueled by rising cancer prevalence and advancements in immunotherapy technologies like mRNA platforms. Preventive vaccines such as Gardasil (HPV) and therapeutic candidates like neoantigen vaccines are driving innovation in the market. Strong R&D investments, especially in North America and Europe, combined with increasing demand for personalized therapies, are further accelerating adoption.
Scope of the Report | |
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Years Considered for the Study | 2022-2032 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Units Considered | Value (USD) |
Segments | By Type, Technology, Route of Administration, Indication and End User |
Regions covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
"The preventive cancer vaccines segment accounted for the highest share in 2023."
On the basis of type, the cancer vaccines market is further segmented into preventive and therapeutic vaccines (Neoantigen cancer vaccines and other cancer vaccines). The preventive cancer vaccines segment is anticipated to lead the cancer vaccines market, driven by increasing awareness of disease prevention, government immunization programs, and technological advancements in vaccine development. Emerging technologies, such as mRNA platforms, are further likely to enhance vaccine efficacy and accessibility is likely to boost the segmental growth.
"By route of administration, intramuscular segment accounted for the largest share in the cancer vaccines market."
The route of administration segment of the cancer vaccines market is segmented into intravenous, intramuscular, and other route of administration. Intramuscular (IM) route of administration is expected to lead the cancer vaccines market owing to the established practice, high efficacy of the administration of the vaccine, and creation of an effective immune response. IM administration guarantees a high efficiency of vaccine absorption and compatibility with any kind of formulation, therefore it is the most appropriate for preventive and treatment cancer vaccines. Its ease of use in clinical and outpatient settings, along with minimal training requirements for healthcare providers, enhances accessibility and scalability for mass immunization programs. All of these parameters therefore position the IM route as the dominant and feasible option in the cancer vaccine field.
"North America: the largest share of the cancer vaccines market"
By region, the market is segment into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America dominated the cancer vaccines market in 2023 and is estimated to continue dominance during the forecast period. Advanced healthcare infrastructure, high levels of investment in biotechnology, and strong presence of leading pharmaceutical companies driving innovation in the field. are some of the prominent factors accelerating market growth.
In-depth interviews have been conducted with chief executive officers (CEOs), Directors, and other executives from various key organizations operating in the cancer vaccines market.
Merck & Co., Inc. (US), GSK plc (UK), Dendreon Pharmaceuticals LLC (US), JW CreaGene (Korea), Serum Institute of India Pvt. Ltd. (India), Verity Pharmaceuticals, Inc. (Canada), Wantai BioPharm (China), Vaccinogen (US) and Shanghai Zerun Biotechnology Co., Ltd. (China) among others are some of the major players operating in the cancer vaccines market.
This research report categorizes the cancer vacciness market type (preventive and therapeutic [neoantigen cancer vaccines & other cancer vaccines]), technology (cell-based vaccines, recombinant, others), route of administration (intramuscular, intravenous, other routes of administration), indication (cervical cancer, prostrate cancer, other indications), end user (hospitals, others) and region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the cancer vacciness market. A detailed analysis of the key industry players has been done to provide insights into their business overview, products, solutions, key strategies, collaborations, partnerships, and agreements. New launches, collaborations and acquisitions, and recent developments associated with the cancer vaccines market.
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the cancer vaccines and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.