Cervical Cancer Vaccines Market Revenue to Worth Over US$ 6 Billion by 2026, Owing to Increasing Prevalence of Cervical Cancer
Impact Analysis of Covid-19
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According to The Global Cervical Cancer Vaccines Market Report, by Product Type (Cervarix, Gardasil, and Gardasil 9), By Distribution Channel (Hospitals, Clinics, and Government Entities), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), published by Coherent Market Insights, the global cervical cancer vaccines market was valued at US$ 2,595.5 million in 2018, and is projected to exhibit a CAGR of 12.1% over the forecast period (2019 – 2026).
Cervical cancer can be prevented via widespread immunization with the human papilloma virus (HPV) vaccine, which prevents infection from high-risk HPV strains and also offers protection against the low-risk ones, which cause genital warts. For instance, according to the Centers for Disease Control and Prevention (CDC), HPV vaccines can be administered to girls failing in the age group of 11 or 12 years. Moreover, all teens and adolescents falling between the ages of 9 and 14 should receive two doses of HPV vaccination within a gap of six months.
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Increasing prevalence of cervical cancer is expected to propel growth of the global cervical cancer vaccines market over the forecast period. For instance, according to the World Health Organization, in 2018, cervical cancer was the fourth most frequent cancer in women with an estimated 570,000 new cases representing 6.6% of all female cancers. Moreover, development of low cost vaccines is also expected to aid in growth of the market. For instance, ISA Pharmaceuticals B.V. is focused on manufacturing cervical cancer vaccine, ISA104 ( HPV16) and ISA104 ( HPV16) vaccines is under phase II trial of clinical development.
Initiatives to boost HPV vaccination are expected to propel growth of the global cervical cancer vaccines market. For instance, in 2013, 1.5 million girls were vaccinated with Gavi (The vaccines Alliance) support. Moreover, in 2017, Gavi helped 30 countries to conduct HPV vaccine demonstration programs.
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Among product type, the Gardasil 9 segment is expected to account for a major revenue share in the global cervical cancer vaccines market in 2026. According to The Advisory Committee on Immunization Practices (ACIP) 2016, Gardasil 9 is the only HPV vaccine available in the U.S. and is recommended for vaccinating girls and boys between 11 and 12 years of age, before they become sexually active. Moreover, ACIP recommends an immunization schedule of two doses before the age of 14 and three doses after the age 14.
- The global cervical cancer vaccines market is expected to witness a CAGR of 12.1% during the forecast period (2019–2026)
- Increasing prevalence of cervical cancer is expected to propel growth of the global cervical cancer vaccines market over the forecast period
- Major players operating in the global cervical cancer vaccines market include, GlaxoSmithKline PLC and Merck & Co. Inc.
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