Global Cervical Cancer Vaccine Market is expected to grow at a CAGR of 12.10% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Cervical Cancer Vaccine Market By Product Type (Gardasil, Gardasil 9, And Cervarix), Applications, Distribution Channel (Hospitals, Clinics, Government Entities), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, And Forecast 2020 To 2027.
The global cervical cancer vaccine market is expected to grow from USD 2.90 billion in 2019 to USD 7.18 billion by 2027, at a CAGR of 12.10% during the forecast period 2020-2027. North America is the most dominating market. The factors behind such growth in the region are reimbursement policies, a large number of cases of cervical cancer, availability and accessibility to the medical infrastructure, growing awareness with the help of government and NGO campaigns, and presence of key market players. Asia-Pacific is anticipated to grow at a significant growth rate. This is due to the rising prevalence of cervical cancer, government policies supporting immunization which is increasing the demand for the product, growing awareness, and initiatives taken by the WHO to develop affordable vaccines in low and middle-income countries. Europe is also expected to witness substantial growth due to similar reasons and the increasing disposable income.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Some of the key players in the cervical cancer vaccine market are Astellas Pharma Inc., Aduro BioTech Inc., Dendreon, GlaxoSmithKline, Merck & Co. Inc., AstraZeneca PLC, Bristol-Myers Squibb, Welland Medical Ltd, OSE Immunotherapeutics, and Sanofi.
By the type, the market can be segmented into the bivalent, quadrivalent, and 9-valent. Gardasil, Gardasil 9, and Cervarix are the only vaccines approved by the FDA (US) and commercially available in the market. By the distribution channel, the market is divided into hospitals, clinics, government entities. By the end-user, the market is segmented into paediatrics and adults.
Cervical cancer is a common type of cancer in women, in the lower part of the uterus. The incidence of cancer is increasing every year, globally. Cancer damage the immune system of the human body by producing self-antigen. The cancer vaccines play a vital role to keep the immune system healthy, as they are the biological response modifiers. These vaccines produce antibodies which target the infectious disease. The primary reason for this cancer is infection caused by human papillomavirus (HPV). It can be sexually transmitted. But the Gardasil, Gardasil 9, and Cervarix are the vaccines approved by the FDA (US) and commercially available in the market which is driving this market.
In September 2019, GlaxoSmithKline and Xiamen Innovax Biotech, a china-based company, entered into a partnership for the development and commercialization of next-generation HPV vaccines.
In April 2019, Inovio Pharmaceutical’s DNA-based immunotherapy VGX-300 was selected as the Best Therapeutic Vaccine at the World Vaccine Congress. VGX-300 later went under investigation for treatment of HPV-16 and HPV-18 infections.
About the report:
The global cervical cancer vaccine market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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