Research Nester released a report titled “Cancer Vaccines Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global cancer vaccines market in terms of market segmentation by vaccine, by indication, by technology and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Cancer vaccines are used for the treatment of cancer caused as a result of infections. Viruses such as the human papillomavirus (HPV) and hepatitis B virus (HBV) have been associated with several kinds of cancers in the body. The market for cancer vaccines is projected to attain a CAGR of around 17.5% over the forecast period, i.e., 2020-2028. The market is segmented by vaccine, by indication, by technology and by region, out of which, the vaccine segment is segmented into therapeutic cancer vaccines and preventive cancer vaccines. The segment for preventive cancer vaccines is anticipated to hold the leading share in the cancer vaccines market on account of growing demand for these vaccines by people for prevention of cancer. Preventive cancer vaccines reduce the risk of infection by cancer causing organisms and help the body to build up immunity against them by creating antibodies.
On the basis of regional analysis, the cancer vaccines market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Cancer vaccines market in North America is anticipated to hold the leading share in the market as a result of highly developed healthcare infrastructure as well as presence of leading key players in the market in the region, especially in the United States. The market in Asia Pacific is projected to grow at the highest rate over the forecast period as a result of rising cases of cancer in the region.
Increasing Cases of Cancer to Drive the Demand for Effective Vaccines
The World Health Organization reported that cancer is the second leading cause of death globally, with around 9.6 million deaths in 2018. Around 1 in 6 deaths are as a result of cancer and about 70% of deaths from cancer take place in middle and low income countries.
As a result of rising cancer cases caused by viral infection, the demand for vaccines for cancer treatment is significantly rising and is estimated to drive the market growth over the forecast period. However, the high cost of cancer vaccines on account of continuous developments and entrance of improved vaccines in the market on a regular basis is predicted to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global cancer vaccines market which includes company profiling of AstraZeneca (LON: AZN), Bristol-Myers Squibb Company (NYSE: BMY), GlaxoSmithKline plc. (LON: GSK), Sanofi (EPA: SAN), Merck & Co Inc (NYSE: MRK), Astellas Pharma Inc. (TYO: 4503), VBI Vaccines Inc. (NASDAQ: VBIV), Moderna, Inc. (NASDAQ: MRNA), Advaxis Immunotherapies and Galena Biopharma. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global cancer vaccines market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.