Dublin, Jan. 14, 2025 (GLOBE NEWSWIRE) — The “Cancer Vaccines Market by Type, Technology, Indication, ROA, End User – Global Forecast to 2032” report has been added to ResearchAndMarkets.com’s offering.
The global cancer vaccines market is projected to surpass USD 20.47 billion in 2032 from USD 10.61 billion in 2024, with a significant CAGR of 8.6%.
The market is witnessing robust growth, fueled by rising cancer prevalence and advancements in immunotherapy technologies like mRNA platforms. Preventive vaccines such as Gardasil (HPV) and therapeutic candidates like neoantigen vaccines are driving innovation in the market. Strong R&D investments, especially in North America and Europe, combined with increasing demand for personalized therapies, are further accelerating adoption.
The preventive cancer vaccines segment accounted for the highest share in 2023
On the basis of type, the cancer vaccines market is further segmented into preventive and therapeutic vaccines (Neoantigen cancer vaccines and other cancer vaccines). The preventive cancer vaccines segment is anticipated to lead the cancer vaccines market, driven by increasing awareness of disease prevention, government immunization programs, and technological advancements in vaccine development. Emerging technologies, such as mRNA platforms, are further likely to enhance vaccine efficacy and accessibility is likely to boost the segmental growth.
By route of administration, intramuscular segment accounted for the largest share in the cancer vaccines market
The route of administration segment of the cancer vaccines market is segmented into intravenous, intramuscular, and other route of administration. Intramuscular (IM) route of administration is expected to lead the cancer vaccines market owing to the established practice, high efficacy of the administration of the vaccine, and creation of an effective immune response.
IM administration guarantees a high efficiency of vaccine absorption and compatibility with any kind of formulation, therefore it is the most appropriate for preventive and treatment cancer vaccines. Its ease of use in clinical and outpatient settings, along with minimal training requirements for healthcare providers, enhances accessibility and scalability for mass immunization programs. All of these parameters therefore position the IM route as the dominant and feasible option in the cancer vaccine field.
North America: the largest share of the cancer vaccines market
By region, the market is segment into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America dominated the cancer vaccines market in 2023 and is estimated to continue dominance during the forecast period. Advanced healthcare infrastructure, high levels of investment in biotechnology, and strong presence of leading pharmaceutical companies driving innovation in the field. are some of the prominent factors accelerating market growth.
Merck & Co., Inc. (US), GSK plc (UK), Dendreon Pharmaceuticals LLC (US), JW CreaGene (Korea), Serum Institute of India Pvt. Ltd. (India), Verity Pharmaceuticals, Inc. (Canada), Wantai BioPharm (China), Vaccinogen (US) and Shanghai Zerun Biotechnology Co., Ltd. (China) among others are some of the major players operating in the cancer vaccines market.
Research Coverage:
This research report categorizes the cancer vaccines market type (preventive and therapeutic [neoantigen cancer vaccines & other cancer vaccines]), technology (cell-based vaccines, recombinant, others), route of administration (intramuscular, intravenous, other routes of administration), indication (cervical cancer, prostrate cancer, other indications), end user (hospitals, others) and region.
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the cancer vaccines market. A detailed analysis of the key industry players has been done to provide insights into their business overview, products, solutions, key strategies, collaborations, partnerships, and agreements. New launches, collaborations and acquisitions, and recent developments associated with the cancer vaccines market.
The report provides insights on the following:
- Analysis of key drivers (Increasing Awareness and Preventive Healthcare Measures, Rising Cancer Incidence Globally, Increased investments into R&D of Neoantigen cancer vaccines and Technological Advancements in Immunotherapy), restraints (Lengthy Clinical Trial Processes and Vaccine Hesitancy & Limited Adoption and High Development and Manufacturing Costs), opportunities (Collaborations & Strategic Partnerships and Incorporation of Artificial Intelligence (AI) & Big Data) and Challenges (Personalized Medicine & Heterogeneity of Cancer Types and Competition from Alternative Therapies) influencing the growth of the market.
- Product Development/Innovation: Detailed insights on upcoming technologies in cancer vaccines manufacturing, research and development activities, and new product launches in the cancer vaccines market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the cancer vaccines market
- Competitive Assessment: Merck & Co., Inc. (US), GSK plc (UK), Dendreon Pharmaceuticals LLC (US), JW CreaGene (Korea), Serum Institute of India Pvt. Ltd. (India), Verity Pharmaceuticals, Inc. (Canada), Wantai BioPharm (China), Vaccinogen (US) and Shanghai Zerun Biotechnology Co., Ltd. (China) among others in the market.
- Key Attributes:
Report Attribute Details No. of Pages 263 Forecast Period 2024 – 2032 Estimated Market Value (USD) in 2024 $10.61 Billion Forecasted Market Value (USD) by 2032 $20.47 Billion Compound Annual Growth Rate 8.6% Regions Covered Global Key Topics Covered:
Premium Insights
- Cancer Vaccines Market Overview
- North America: Cancer Vaccines Market, by Technology and Country (2023)
- Cancer Vaccines Market Share, by Type, 2024 vs. 2032
- Cancer Vaccines Market: Geographic Growth Opportunities
Market Dynamics
Drivers
- Increased Investments in Neoantigen Cancer Vaccine R&D
- Technological Advancements in Immunotherapy
- Increasing Awareness and Preventive Healthcare Measures
- Rising Cancer Incidence Globally
Restraints
- High Development and Manufacturing Costs
- Lengthy Clinical Trial Processes & Vaccine Hesitancy and Limited Adoption
Opportunities
- Collaborations and Strategic Partnerships
- Incorporation of AI and Big Data
Challenges
- Personalized Medicine and Heterogeneity of Cancer Types
- Competition from Alternative Therapies
Cancer Vaccines Market, by Type
- Preventive Vaccines
- National Immunization Programs & Biotechnology Innovations to Drive Market Growth
- Therapeutic Vaccines
- Neoantigen Cancer Vaccines – Personalized Nature of Neoantigen Cancer Vaccines to Propel Market Growth
Cancer Vaccines Market, by Technology
- Cell-based Vaccines
- Advancements in Manufacturing Processes to Drive Market Growth
- Recombinant Vaccines
- Global Vaccination Initiatives to Propel Market
Cancer Vaccines Market, by Route of Administration
- Intramuscular Route
- Technological Advancements in Vaccine Delivery to Support Market Growth
- Other Routes of Administration
Cancer Vaccines Market, by Indication
- Cervical & Related Cancers
- Rising Cervical Cancer Prevalence to Support Market Growth
- Other Indications
Cancer Vaccines Market, by End-user
- Hospitals
- Rising Cancer Prevalence to Support Market Growth
- Specialty Clinics & Centers
- Increasing Awareness and Access to Propel Market
Company Profiles
Key Players
- Merck & Co.
- GSK
- Dendreon Pharmaceuticals LLC. (Sanpower Group)
- JW Creagene (Jw Shinyak)
- Serum Institute of India Pvt. Ltd.
- Verity Pharmaceuticals, Inc.
- Wantai Biopharm
- Shanghai Zerun Biotech Co. Ltd. (Walvax Biotechnology Co. Ltd.)
- Vaccinogen
Other Players (Companies with Products Under Clinical Studies)
- Biontech
- Gritstone Bio
- Ose-Immuno
- Obi Pharma
- Shanghai Bovax Biotechnology Co. Ltd.
- Moderna Inc.
- Beijing Sinocell Biotechnology Group Co. Ltd.
- Greenwich Lifesciences, Inc.
- Aston Sci. Inc.
- Transgene
- Sellas Life Sciences Group
For more information about this report visit https://www.researchandmarkets.com/r/o608of
