Dublin, June 30, 2021 (GLOBE NEWSWIRE) -- The "Cancer Vaccines Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
The global cancer vaccines market is expected to decline from $5.21 billion in 2019 to $4.89 billion in 2020 at a compound annual growth rate (CAGR) of -6.16%.
Cancer Vaccines Global Market Global Market Report 2020-30: COVID-19 Growth and Change provides the strategists, marketers and senior management with the critical information they need to assess the global cancer vaccines global market market.
Major players in the cancer vaccines market are, GlaxoSmithKline, Merck, Aduro Biotech, Astrazeneca Plc, Dendreon, Astellas Pharma Inc, Sanofi Pasteur, Sanpower Group, and CSL Limited.
The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively.
The market is then expected to recover and reach $7.61 billion in 2023 at a CAGR of 15.85%.
The cancer vaccines market consists of sales of vaccines used for the treatment of cancers and related services by entities (organizations, sole traders and partnerships) that produce vaccines for cancer treatment. Cancer treatment vaccines, also called therapeutic vaccines are a type of immunotherapy, which stops tumor growth, destroys cancer cells and prevents the reoccurrence of cancers. The market consists of revenue generated by the companies manufacturing cancer vaccines by the sales of these products.
North America was the largest region in the cancer vaccines market in 2019. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
In May 2020, Merck, a US-based pharmaceutical company, acquired Themis Bioscience for an undisclosed amount. The acquisition is expected to complement Merck's capabilities in the development, manufacturing, and distribution of vaccines. Themis Bioscience is a pharmaceutical company that manufactures vaccines and immune-modulatory therapies developed using the measles virus vector platform based on a vector originally.
The cancer vaccines market covered in this report is segmented by type into preventive cancer vaccines; therapeutic cancer vaccines. It is also segmented by technology into dendritic cells (DC) cancer vaccines; recombinant cancer vaccines; antigen/adjuvant cancer vaccines; whole cell cancer vaccines; viral vector & DNA cancer vaccines, by cancer type into prostate; cervical; colorectal; throat; others and by end-user into cancer treatment centers; research institutes.
Alternative treatment methods and natural remedies are increasingly becoming popular globally and this is expected to have a negative impact on the revenues of cancer vaccines manufacturing companies. Treatments in the fields of homeopathy, Ayurveda, yoga, acupuncture, sujok therapy are gaining popularity and slowly replacing some traditional hospital practices. For instance, Ayurvedic medicine, an ancient Indian system of medicine uses a range of techniques and treatments for cancer.
Also, the global homeopathic product market is projected to reach $18.6 billion by the end of 2027. This trend is expected to continue during the forecast period and limit the demand for cancer vaccines.
Companies in the cancer vaccines market are increasingly investing in preventive or prophylactic vaccines for cancer prevention. Prophylactic vaccines are designed to build immunity in a patient. A prophylactic or preventative vaccine involves introducing antigens into a person's body. According to the World Health Organization, in 2018, cervical cancer was reported as the second-most common cancer in women with an estimation of 84% new cases worldwide. So far, there are 3 HPV vaccines currently present for the prophylaxis of cancers.
Two among these will protect against both HPV 16 and HPV 18, which causes 70% of cervical cancer and the third vaccine prevents 3 more oncogenic HPV types, which further causes 20% of cervical cancers. These three vaccines include Gardasil and Gardasil9 by Merck and Cervarix by GSK. In April 2019, Bayer, through its investment arm Leaps by Bayer, has invested in a US-based biotechnology firm Khloris Biosciences, which is focused on developing prophylactic anti-cancer vaccines.
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. According to the American Cancer Society, there were 1,7 million new cases and 0.6 million cancer deaths in 2019 in the USA.
The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all the new cancer cases. Therefore, the rise in cancer incidence rate globally is anticipated to boost the demand for the cancer vaccines market over the coming years.
Key Topics Covered:
1. Executive Summary
2. Cancer Vaccines Market Characteristics
3. Cancer Vaccines Market Size and Growth
3.1. Global Cancer Vaccines Historic Market, 2015 - 2019, $ Billion
3.2. Global Cancer Vaccines Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
4. Cancer Vaccines Market Segmentation
4.1. Global Cancer Vaccines Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Preventive Cancer Vaccines
Therapeutic Cancer Vaccines
4.2. Global Cancer Vaccines Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Dendritic Cells (DC) Cancer Vaccines
Recombinant Cancer Vaccines
Antigen/Adjuvant Cancer Vaccines
Whole Cell Cancer Vaccines
Viral Vector & DNA Cancer Vaccines
4.3. Global Cancer Vaccines Market, Segmentation By Cancer Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.4. Global Cancer Vaccines Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Cancer Treatment Centers
5. Cancer Vaccines Market Regional and Country Analysis
5.1. Global Cancer Vaccines Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Cancer Vaccines Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Astellas Pharma Inc
Serum Institute of India Pvt. Ltd
Vaccinogen and Vaxon Biotech
Dynavax Technologies Corporation
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