Cancer Vaccines Market Analysis, Opportunities And Growth Forecast To 2028
Cancer vaccines makes patient immune system attack cancer cell and helps to prevent cancer. For instance, some strains of the human papilloma virus (HPV) are linked with anal, throat and some other cancer, vaccines against HPV can help to protect against these cancers. Cancer vaccines can lower the risk of getting liver cancer for patient who have chronic infection with the hepatitis B virus. Research organization are studying various types of cancer vaccines which includes antigen vaccines, whole cell vaccines, DNA vaccines etc.
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Factors driving demand for global cancer vaccines market includes increasing incidence of cancer globally. According to World Health Organization (WHO) data, 2017, nearly 1 in 6 deaths occurs due to cancer globally and it is second leading cause of death in world. In addition, continuous innovation by manufacturer for development of new vaccines are factors expected to drive the growth of global cancer vaccines market over the forecast period. However, cost of development of innovative vaccines can limit the growth of cancer vaccine market.
Treatment method segment includes preventive cancer vaccines and therapeutic cancer vaccines. The therapeutic cancer vaccines are expected to witness rapid growth over the forecast period owing to the innovations and increasing number of clinical trials.
Regional segmentation includes North America, Europe, Latin America, Asia Pacific and Middle East and Africa. North America contributes the major market share as compared to other regions owing to the well-developed healthcare infrastructure and presence of key players in the region. Furthermore, revenue from the market in the Asia Pacific is expected to continue to grow significantly over the forecast period. This is attribute due to the increasing incidence of cancer in the region.
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Some prominent players in the global cancer vaccines market are Astrazeneca plc., Glaxosmithkline Plc., Merck & Co., Inc., Aduro BioTech Inc., Prima BioMed, Pfizer Inc., Serum Institute of India Pvt. Ltd., Sanofi SA, Gritstone Oncology, Inc., and PaxVax Corporation.
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