Global Cancer Vaccines Market - Segmented By Technology, Treatment Method, Application, and Geography - Growth, Trends, and Forecast (2022 - 2030)
The global cancer vaccines market is expected to register a CAGR of 16% during the forecast period of 2018–2023. Cancer vaccines are used to strengthen the immune system against different cancers.
Increasing Number of Cancer Cases
Cancer is one of the leading causes of death across the globe, with 8.8 million victims in 2015, and accounting for nearly 1 in 6 deaths. The disease has witnessed significant growth in the last few decades and is expected to grow rapidly during the forecast period. According to the WHO, almost 70% of deaths from cancer occur in the low and middle-income countries, and only 1 in 5 low and middle-income countries have the necessary data to drive cancer policy.
The incidence of cancer is increasing year by year. Cancer vaccines are considered as a new therapy and are not as popular as compared to the other alternative therapeutic drugs. However, cancer vaccines have shown great potential in both preventive and therapeutic ways. Also, with healthcare physicians looking for alternative therapies due to the huge burden of cancer cases and side effects of the present therapies, the market for cancer vaccines is expected to grow significantly during the forecast period.
The other factors, such as the emphasis on early diagnosis of cancer and technological developments in cancer vaccines are the major drivers for the market.
Stringent Regulatory Guidelines
In the expanding market for medical therapies, there are stringent regulatory policies in place to ensure the safety of therapies. These policies are well studied to fit the requirements. However, while rigorous regulatory procedures guarantee the quality of the product entering the market, they delay the entry of a drug or therapy into the market. Pre-market approval is an FDA process of scientific and regulatory review to evaluate the safety and effectiveness of drugs and therapies. There have been procedures by the FDA to heighten the post-market surveillance. Most of the cancer vaccine drugs are in the pipeline as these strict guidelines lengthen the process of the product launch and sometimes failure of the drug molecule, which ultimately increases the R&D expenditure of companies. With this, companies show less interest in the product novelty, which hampers the market. The other factor which is a major restraint for the cancer vaccinesmarket is the presence of alternative therapies.
North America Leads the Market
The North American cancer vaccines market held the largest market share in 2017 due to the large patient pool and wide acceptance of advanced technologies.
Key Developments in the Market
• Jan 2018: Treos Bio Limited entered phase I trials for colon cancer.
• Feb 2018: OSE Immunotherapeutics work on Tadopi, a pancreatic cancer vaccine, has entered phase III trials.
• March 2018: Vedantra collaborated with Neon to develop cancer vaccines
Major Players: ADURO BIOTECH INC., AMGEN, ASTELLAS PHARMA INC., ASTRAZENECA PLC, BRISTOL-MYERS SQUIBB, DENDREON, GLAXOSMITHKLINE, MERCK & CO., INC., OSE IMMUNOTHERAPEUTICS, SANOFI, TREOS BIO LIMITED, among others.
Reasons to Purchase the Report
• Follow the current and future cancer vaccines market in the developed and emerging markets.
• Examining the various perspectives of the market with the help of Porter’s Five Forces Analysis.
• Identify the segment that is expected to dominate the market.
• Identify the regions that are expected to witness the fastest growth during the forecast period.
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3-month analyst support along with the Market Estimate sheet (in Excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Increasing Number of Cancer Cases
Cancer is one of the leading causes of death across the globe, with 8.8 million victims in 2015, and accounting for nearly 1 in 6 deaths. The disease has witnessed significant growth in the last few decades and is expected to grow rapidly during the forecast period. According to the WHO, almost 70% of deaths from cancer occur in the low and middle-income countries, and only 1 in 5 low and middle-income countries have the necessary data to drive cancer policy.
The incidence of cancer is increasing year by year. Cancer vaccines are considered as a new therapy and are not as popular as compared to the other alternative therapeutic drugs. However, cancer vaccines have shown great potential in both preventive and therapeutic ways. Also, with healthcare physicians looking for alternative therapies due to the huge burden of cancer cases and side effects of the present therapies, the market for cancer vaccines is expected to grow significantly during the forecast period.
The other factors, such as the emphasis on early diagnosis of cancer and technological developments in cancer vaccines are the major drivers for the market.
Stringent Regulatory Guidelines
In the expanding market for medical therapies, there are stringent regulatory policies in place to ensure the safety of therapies. These policies are well studied to fit the requirements. However, while rigorous regulatory procedures guarantee the quality of the product entering the market, they delay the entry of a drug or therapy into the market. Pre-market approval is an FDA process of scientific and regulatory review to evaluate the safety and effectiveness of drugs and therapies. There have been procedures by the FDA to heighten the post-market surveillance. Most of the cancer vaccine drugs are in the pipeline as these strict guidelines lengthen the process of the product launch and sometimes failure of the drug molecule, which ultimately increases the R&D expenditure of companies. With this, companies show less interest in the product novelty, which hampers the market. The other factor which is a major restraint for the cancer vaccinesmarket is the presence of alternative therapies.
North America Leads the Market
The North American cancer vaccines market held the largest market share in 2017 due to the large patient pool and wide acceptance of advanced technologies.
Key Developments in the Market
• Jan 2018: Treos Bio Limited entered phase I trials for colon cancer.
• Feb 2018: OSE Immunotherapeutics work on Tadopi, a pancreatic cancer vaccine, has entered phase III trials.
• March 2018: Vedantra collaborated with Neon to develop cancer vaccines
Major Players: ADURO BIOTECH INC., AMGEN, ASTELLAS PHARMA INC., ASTRAZENECA PLC, BRISTOL-MYERS SQUIBB, DENDREON, GLAXOSMITHKLINE, MERCK & CO., INC., OSE IMMUNOTHERAPEUTICS, SANOFI, TREOS BIO LIMITED, among others.
Reasons to Purchase the Report
• Follow the current and future cancer vaccines market in the developed and emerging markets.
• Examining the various perspectives of the market with the help of Porter’s Five Forces Analysis.
• Identify the segment that is expected to dominate the market.
• Identify the regions that are expected to witness the fastest growth during the forecast period.
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3-month analyst support along with the Market Estimate sheet (in Excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Frequently Asked Questions
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