PUBLISHER: The Business Research Company | PRODUCT CODE: 1427742
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427742
The cervical cancer vaccine is designed to prevent cervical cancer by targeting high-risk types of human papillomavirus (HPV), the primary cause of most cervical cancer cases. These vaccines stimulate the body's immune response, generating antibodies to recognize and neutralize the HPV virus.
The main cervical cancer vaccines include Cervarix, Gardasil, and Gardasil 9. Cervarix is specifically formulated to protect against certain HPV strains associated with cervical cancer. These vaccines are distributed through various channels, such as hospital pharmacies, retail pharmacies, and online pharmacies, reaching diverse end-users such as hospitals, biotechnology companies, academic and research organizations, among others.
The cervical cancer vaccine market research report is one of a series of new reports from The Business Research Company that provides cervical cancer vaccine market statistics, including the cervical cancer vaccine industry global market size, regional shares, competitors with a cervical cancer vaccine market share, detailed cervical cancer vaccine market segments, market trends, and opportunities, and any further data you may need to thrive in the cervical cancer vaccine industry. This cervical cancer vaccine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The cervical cancer vaccine market size has grown strongly in recent years. It will grow from $82.74 billion in 2023 to $88.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to awareness campaigns, educational initiatives, government-led vaccination programs, the rising incidence of cervical cancer, recommendations from healthcare providers, and global efforts to prioritize women's health.
The cervical cancer vaccine market size is expected to see strong growth in the next few years. It will grow to $117.01 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to the expansion of vaccination coverage, integration into routine immunization programs, advancements in HPV testing and screening, global advocacy for HPV vaccination, and a rising focus on adolescent vaccination. Major trends in the forecast period include the incorporation of new adjuvants, integration of digital health platforms, innovative vaccine development, public-private partnerships, and educational campaigns and advocacy.
The growth trajectory of the cervical cancer vaccine market is anticipated to surge, propelled by the escalating prevalence of cervical cancer cases. Cervical cancer, affecting the lower part of the uterus known as the cervix, is witnessing an increase in reported cases, primarily attributed to factors such as inadequate Human papillomavirus (HPV) vaccination, poor hygiene practices, and limited awareness and knowledge concerning cervical cancer. Notably, cervical cancer vaccines play a pivotal role in preventing this disease by targeting high-risk types of human papillomavirus (HPV). For example, in January 2023, the American Cancer Society reported 13,960 cases of cervical cancer in the United States alone. Consequently, the rising incidence of cervical cancer cases serves as a driving force behind the growth of the cervical cancer vaccine market.
The upsurge in healthcare spending is significantly contributing to the expansion of the cervical cancer vaccine market. Healthcare spending, representing the total financial resources allocated to the healthcare sector within a specific region or country, plays a crucial role in supporting cervical cancer vaccination efforts. The investment in cervical cancer vaccines aims to prevent the onset of cervical cancer, aiming to reduce the economic burden associated with treatment costs. Additionally, this strategic allocation of resources seeks to enhance overall public health outcomes and foster long-term cost-effectiveness by curbing the necessity for extensive medical interventions. For instance, as reported by the American Medical Association in March 2023, health spending in the United States witnessed a 2.7% increase in 2021, totaling $4.3 trillion, with an average of $12,914 per capita. Hence, the escalation in healthcare spending emerges as a driving force propelling the growth of the cervical cancer vaccine market.
Product innovation stands out as a significant and growing trend within the cervical cancer vaccine market, with prominent market players directing their efforts towards the development of pioneering products to reinforce their market positions. An example of this trend occurred in May 2022 when GlaxoSmithKline, a UK-based pharmaceutical company, obtained approval from China's National Medical Products Administration (NMPA) for a two-dose schedule of its vaccine, Cervarix. This vaccine, intended for girls aged nine to fourteen, has been authorized to prevent cervical cancer. This approval marks a significant milestone as Cervarix becomes the first imported HPV vaccine to utilize a two-dose regimen for this specific age group in mainland China.
Major companies engaged in cervical cancer vaccines are strategically focusing on collaboration and partnerships to deliver reliable services to their clientele. These strategic partnerships involve structured alliances between multiple commercial enterprises, typically established through various business agreements or contracts. For instance, in June 2023, Nykode Therapeutics ASA, a Norway-based provider specializing in next-generation vaccines, expanded its collaboration with Roche Holding AG, a Switzerland-based healthcare company, to advance VB10.16, an off-the-shelf therapeutic cancer vaccine. The collaborative effort aims to evaluate VB10.16 in combination with Roche's atezolizumab (Tecentriq), an anti-PD-L1 immunotherapy, in patients diagnosed with advanced cervical cancer. This partnership holds promise in developing a novel and effective treatment option for a type of cancer that has limited treatment alternatives and typically poor prognoses.
In November 2021, the United Nations Population Fund (UNFPA), a United Nations agency, and Roche Diagnostics entered into a partnership agreement with the aim of advancing efforts to eliminate cervical cancer in Eastern Europe and Central Asia. This partnership underscores their shared commitment to addressing the high burden of cervical cancer in the region and improving access to essential screening services. The goal is to ensure that women in Eastern Europe and Central Asia have increased access to HPV testing and early detection, leading to timely treatment and improved outcomes. Roche Diagnostics, based in Switzerland, is involved in the discovery, development, and manufacturing of in vitro tests for various diseases.
Major companies operating in the cervical cancer vaccine market report are Pfizer Inc., Johnson & Johnson, Merck & Co Inc., Novartis AG, Sanofi Pasteur, Bristol-Myers Squibb Company, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Moderna Inc., BioNTech SE, CSL Limited, Daiichi Sankyo Company Limited, Sinovac Biotech Ltd., Bharat Biotech International Limited, Serum Institute of India (SII), Walvax Biotechnology Co Limited, Bavarian Nordic A/S, CureVac N.V, Profectus Biosciences Inc., Genexine Inc., Inovio Pharmaceuticals Inc., Aston Scientific Inc., Ultimovacs ASA, Nykode Therapeutics AS, Heat Biologics Inc., Northwest Biotherapeutics Inc., VBI Vaccines Inc., OncBioMune Pharmaceuticals Inc., Advaxis Inc., Immunovaccine Inc.
North America was the largest region in the cervical cancer vaccine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cervical cancer vaccine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cervical cancer vaccine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The cervical cancer vaccine market consists of sales of a gardiquimod, V503, silgard, and Human papillomavirus vaccines. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cervical Cancer Vaccine Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cervical cancer vaccine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cervical cancer vaccine ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cervical cancer vaccine market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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