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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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.
| Company | GlaxoSmithKline plc (GSK) |
| Headquarters | London, UK, Europe |
| Pipeline | 2023 was a great year for the company, and it is planning to do 12 major launches from 2025, which will include vaccines and specialty medicines related to oncology, HIV, infectious diseases, and respiratory diseases. |
| Company | Merck & Co. Inc. |
| Headquarters | New Jersy, United States, North America |
| Pipeline | Merck and Moderna were working on (MSD)mRNA-4157 vaccine for patients with resected high-risk (Stage IIB-IV) melanoma. After the Approval of the FDA in February 2023, the company entered clinical trial phase III of the vaccine, which included 1089 patients, and the study will be concluded by 2029. |
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.
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