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Cancer Vaccines Market: Key Drivers, Trends, Growth, Outlook 2024-2033

Overview and Scope

Cancer vaccines refer to cancer-treatment vaccinations and medications that aid the body in illness prevention and cancer treatment. They have the power to teach the immune system to recognize and eliminate dangerous microbes and cells.

Sizing and Forecast

The cancer vaccines market size has grown rapidly in recent years. It will grow from $7.22 billion in 2023 to $8.25 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to rising incidence of cancer, increasing awareness of cancer vaccines, expanding range of approved cancer vaccines, growing evidence of the efficacy of cancer vaccines, government support for research and development.

The cancer vaccines market size is expected to see rapidly grown in the next few years. It will grow to $13.89 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to combination therapies with cancer vaccines, increased investment from pharmaceutical companies, emerging biomarkers, personalized vaccines, expanding vaccination programs. Major trends in the forecast period include advancements in immunology, adjuvant therapies, diversification of indications, patient access, collaborative research, neoantigen-based vaccines, therapeutic cancer vaccines.

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Segmentaton & Regional Insights

The cancer vaccines market covered in this report is segmented –

1) By Type: Preventive Cancer Vaccines, Therapeutic Cancer Vaccines

2) By Technology: Dendritic Cells (DC) Cancer Vaccines, Recombinant Cancer Vaccines, Antigen/Adjuvant Cancer Vaccines, Whole Cell Cancer Vaccines, Viral Vector & DNA Cancer Vaccines

3) By Cancer Type: Prostate, Cervical, Colorectal, Throat, Other Cancer Types

4) By End-User: Cancer Treatment Centers, Research Institutes

North America was the largest region in the cancer vaccines market in 2023. The regions covered in the cancer vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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Major Driver Impacting Market Growth

The rise in the number of cancer cases across the globe is likely to contribute to the growth of the cancer vaccines market during the forecast period. For instance, in January 2022, according to the American Cancer Society, there will likely be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US, or roughly 1,670 fatalities every day. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all new cancer cases. Therefore, the rise in cancer incidence rates globally is anticipated to boost demand for the cancer vaccine market over the coming years.

Key Industry Players

Major companies operating in the cancer vaccines market include GlaxoSmithKline plc, Merck & Co. Inc., Aduro Biotech Inc., AstraZeneca PLC, Dendreon Corporation, Astellas Pharma Inc., Sanofi SA, Sanpower Group, CSL Limited, Pfizer Inc., Serum Institute of India Pvt. Ltd., Advantagene Inc., Advaxis Inc., Agenus Inc., Altor BioScience Corporation, Argos Therapeutics Inc., Oncothyreon Inc., Oncovir Inc., Oxford BioMedica plc., Prima BioMed Ltd., Sotio LLC, Transgene SA, Ubivac LLC, Vaccinogen and Vaxon Biotech, Bavarian Nordic A/S, Bharat Biotech International Limited, Bristol-Myers Squibb Company, Dynavax Technologies Corporation, Emergent BioSolutions Inc., Galena Biopharma Inc., Moderna Inc., Biothera Pharmaceuticals Inc., Celldex Therapeutics Inc., Genexine Inc., Gritstone Oncology Inc., Heat Biologics Inc., ISA Pharmaceuticals B.V., Northwest Biotherapeutics Inc., OncBioMune Pharmaceuticals Inc., TapImmune Inc., Vaxil Bio Ltd., VBI Vaccines Inc., Ziopharm Oncology Inc.

The cancer vaccines market report table of contents includes: