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The Cancer Vaccines Market is expected to grow at a CAGR of 14% from 2020-2030, according to a new research report by Next Move Strategy Consulting
A vaccine is a biological preparation that is introduced in human body in order to acquire immunity against diseases. Cancer is a chronic disorder that leads to uncontrolled cell growth & conquer other tissues in the body. Cancer vaccine is specially designed to increase immunity in human body against cancer by creating antibodies against them. These antibodies then recognize the cancer cells and suppress its growth.
According to the report, the high prevalence rate of cancer and growth in human papilloma virus (HPV) infections are the major factors driving the market growth. Also, surge in research & development activities owing to the growth in market investments led to the launch of new vaccines. Furthermore, rising awareness among people along with surge in vaccination as well as growth in government initiatives to promote vaccination are also expected to gain traction. Moreover, development in healthcare facilities supported by the government funding & high investments for the development of new cancer vaccines is also expected to amplify the market growth. Other factors such as huge product pipeline and rising demand for cancer vaccines can change the market trends.
However, high cost of cancer vaccines owing to the high R&D cost and stringent regulatory process for approval is likely to inhibit the market growth. Moreover, rising demand for therapeutic vaccines and increasing approval of new vaccines are expected to provide numerous opportunities to the market players in the coming few years.
On the basis of technology, the cancer vaccines market share is segmented into subunit vaccines, conjugate vaccines, inactivated vaccines, live attenuated vaccines, and recombinant vector vaccines. Recombinant vectors vaccine holds the major market share in the cancer vaccine market and is expected to dominate the market throughout the forecast period.
On the basis of treatment method, the cancer vaccines market is categorised into preventive vaccine and therapeutic vaccine. Preventive vaccine holds the major market share and is expected to dominate the market growth.
On the basis of indication, the cancer vaccine market is fragmented into prostate cancer, liver cancer, cervical cancer, skin cancer, and others. Prostate cancer is expected to develop significantly over the period of time and is likely to dominate the market among all other indication types.
On the basis of end user, the market is bifurcated into adult vaccines and paediatric vaccine. The adult vaccines segment is likely to develop at a significant growth rate owing to high prevalence rate in adults.
North America dominates the cancer vaccine market in terms of market share & size over the forecast period owing to the presence of developed healthcare facilities & infrastructure and rising number of cancer patients. In addition, surge in research & development activities along with increasing approvals for new cancer vaccines are expected to contribute market growth. Europe accounts for the second leading position in the cancer vaccines market in terms of market size. Asia Pacific is expected to be the fastest developing region in the cancer vaccines market, majorly driven by the high government funding for the development of new vaccines. Moreover, rising prevalence of cancer and growth in HPV infections are also expected to promote the market growth.
According to the report, some the key players in the cancer vaccines market are CSL Limited, Pfizer Inc., Bristol-Myers Squibb, Astrazeneca Plc., Sanofi Pasteur, AduroBioTech Inc., Sanpower Group, Glaxosmithkline Plc., Merck & Co., Inc., AstellasPharma Inc.
Browse key industry insights from the report, “Cancer Vaccines Market Size By Technology (Subunit Vaccines, Conjugate Vaccines, Inactivated Vaccines, Live Attenuated Vaccines, and Recombinant Vector Vaccines) By Treatment Method (Preventive Vaccine and Therapeutic Vaccine), By Indication (Prostate Cancer, Liver Cancer, Cervical Cancer, Skin Cancer, and Others), By End User (Adult Vaccines and Paediatric Vaccine)Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020–2030” in detail along with the table of contents:
Key Insights from the Cancer Vaccines Market Report:
• Asia Pacific is the fastest growing region in the Cancer Vaccines market owing to the rising prevalence of cancer, growth in HPV infections and high government funding for the development of new vaccine.
• The prostate cancer segments dominates the market in terms of indication and is expected to grow at a significant CAGR to maintain the lead till 2030.
• Some of the major players in the market are CSL Limited, Pfizer Inc., Bristol-Myers Squibb, Astrazeneca Plc., Sanofi Pasteur, Aduro BioTech Inc., Sanpower Group, Glaxosmithkline Plc., Merck & Co., Inc., Astellas Pharma Inc.
The report Cancer Vaccines market – segmented by technology, treatment method, indication, end user and geography
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