Cancer Vaccines Market Size Climb at USD 30.16 Billion by 2033

The cancer vaccines market was valued at US$ 10.21 billion in 2023 and is predicted to reach US$ 30.16 billion by the end of 2033, representing an impressive CAGR of 11.44% from 2024 to 2033. The increasing prevalence of cancer, research and development and continuous efforts taken by governments and key stakeholders drive the market’s growth.

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Key Takeaways:

• North America has held the largest revenue share of 38.40% in 2023.
• Asia Pacific is expected to witness the fastest growth during the forecast period of 2024-2033.
• By type, the preventive segment has held a major revenue share of 55% in 2023.
• By type, the therapeutics segment is expected to grow at the fastest rate during the forecast period.
• By indication, the cervical cancer segment has contributed more than 31% in 2023.
• By distribution channel, the hospitals segment dominated the market in 2023 and will continue to dominate during the forecast period.

Market Overview/Industry at a Glance

The cancer vaccines market deals with research & development, testing, manufacturing and distribution of cancer vaccines in the healthcare sector. Cancer vaccines are none other than immunotherapies used as a treatment procedure to boost the immune system of cancer patients for fighting against cancer. There are two types of cancer vaccines: therapeutic and preventive. Currently, HPV vaccines and hepatitis B vaccines are two preventive vaccines approved, while prostate cancer vaccines, bladder cancer vaccines, and melanoma vaccines are some of the therapeutic vaccines that are approved by the Food and Drug Administration.

One of the major reasons for the growth of the market is the increased number of cancer patients due to different factors like lifestyle choices, environmental pollution, genetics, aging, substance abuse, chemical exposure, exposure to sun/UV radiation, and so on. Apart from this, major key players and researchers are continuously making efforts to improve the existing vaccines and develop new vaccines for preventive majors in which the governments are equally participating by providing funds, facilities, and proper infrastructure.

Top Companies in the Cancer Vaccines Market

• Generex Biotechnology Corporation
• Immunocellular Therapeutics, Ltd
• Vaccinogen, Inc.
• GlaxoSmithKline plc (GSK)
• Advaxis Inc.
• Dynavax Technologies Corporation
• Merck & Co., Inc.
• SANPOWER GROUP CO. LTD. (DENDEREON CORPORATION)
• UbiVac
• Amgen Inc.

GlaxoSmithKline plc (GSK) Pipeline

Merck & Co. Inc. Pipeline

Increased Cases of Cancer Patients Drive the Market Growth

In recent years, the number of cancer patients has grown tremendously. Not only the number but also the types of cancers have increased. Certain factors like genetics, exposure to UV radiation, and occupational hazards have been the major contributors to an increased number of cancer patients. However, factors such as increased rates of obesity, processed food consumption, pollution, unhealthy lifestyles, substance abuse, and lack of knowledge & awareness are all contributing to the increased number of cancer patients.

• According to Cancer Research UK, there are more than 200 types of cancers sub-divided into five categories: carcinoma, sarcoma, leukemia, lymphoma& myeloma, and brain & spinal cord cancers.
• According to the World Health Organization, cancer is the second leading cause of death worldwide, with 10 million deaths and 20 million new cases. It is estimated that the number will rise by 60% in the next two decades, and by 20240, the number of cancer patients will rise up to 30 million.

Segments Covered in the Report

By Type

• Preventive Cancer Vaccines
• Therapeutic Cancer Vaccines
• Others

By Indication

• Cervical Cancer
• Prostate Cancer
• Other Indications

By Technology

• Recombinant Cancer Vaccines
• Viral Vector and DNA Cancer Vaccines
• Whole-cell Cancer Vaccines
• Others

By Distribution Channel

• Hospitals
• Government Suppliers

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Read Also: https://www.healthcarewebwire.com/us-home-infusion-therapy-news/

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