A vaccine is a biological preparation that strengthens the immune system and provides acquired immunity against a specific pathogen. According to the World Health Organization (WHO), cancer vaccines are popularly for treating various types of cancer such as, breast cancer, lung cancer, cervical cancer, and others. The key factors that driving the market growth include rise in prevalence of human papilloma virus (HPV) infections leading to cancers, increase in administration of prophylactic cancer vaccines, surge in investments in the development of cancer vaccines by manufacturers & governmental funding, and launch & approval of novel cancer vaccines in the market. The global cancer vaccines market was valued at $4,073 million in 2016, and is expected to reach at $12,814 million by 2023, registering a CAGR of 17.7% from 2017 to 2023.
The global cancer vaccines market is segmented based on technology, indication, type end use, and region. Based on technology, it is categorized into dendritic cells (DC) cancer vaccines, recombinant cancer vaccines, antigen/adjuvant cancer vaccines, whole cell cancer vaccines, and viral vector & DNA cancer vaccines. Based on indication, it is bifurcated into cervical cancer, prostate cancer, and others. On the basis of end use, it is classified into pediatric vaccines and adult vaccines. Based on type, the market is divided into therapeutic cancer vaccines and preventive cancer vaccines.
Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest market share in 2016, and is expected to maintain its dominance throughout the forecast period. This is attributed to the increase in prevalence of cervical cancers, rise in government focus on immunization programs, emergence of new vaccines, and growth in technological advancements in vaccine administration. However, Asia-Pacific is expected to witness maximum growth potential, due to the improvement in healthcare facilities, high disposable income, and rapid development of economic conditions.
KEY MARKET SEGMENTS
BY END USE
KEY PLAYERS PROFILED
The other players in the value chain include (profiles not included in the report)
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