Cancer Vaccine Market – By Type, (Preventive, Therapeutic), Technology, (Recombinant, Whole-cell, Viral Vector & DNA, Antigen/Adjuvant), Application (Prostate, Cervical, Lung, Colorectal, Melanoma), End-use – Global Forecast 2024 – 2032

Cancer Vaccine Market – By Type, (Preventive, Therapeutic), Technology, (Recombinant, Whole-cell, Viral Vector & DNA, Antigen/Adjuvant), Application (Prostate, Cervical, Lung, Colorectal, Melanoma), End-use – Global Forecast 2024 – 2032

Cancer Vaccine Market Size

Cancer Vaccine Market size was valued at around USD 9.1 billion in 2023 and is estimated to grow at 11.2% CAGR from 2024 to 2032. Cancer vaccines are immunotherapies designed to stimulate the immune system to recognize and attack cancer cells, either by preventing cancer (prophylactic) or treating existing cancers (therapeutic). Preventive vaccines, such as those for HPV and Hepatitis B, aim to prevent cancers caused by these viruses, while therapeutic vaccines, such as sipuleucel-T for prostate cancer, target cancer-specific antigens to elicit an immune response.

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The rising prevalence of cancer is a significant driving factors for the market. For instance, according to the World Health Organization (WHO), in 2022, there were an estimated 20 million new cancer cases and 9.7 million deaths worldwide. This underscores the critical need for innovative treatments and preventive measures, highlighting the pivotal role of cancer vaccines in potentially reducing cancer incidence and mortality.

Furthermore, advancements in biotechnology and immunotherapy, growing demand for personalized medicine, and rising geriatric population, are the promoting factors advancing the growth of the market.
 

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Cancer Vaccine Market Trends

Advancements in biotechnology and immunotherapy are pivotal in the development and effectiveness of cancer vaccines. These innovations have enabled the design of vaccines that can precisely target cancer cells, enhancing the body's immune response against tumors. Biotechnology has facilitated the creation of recombinant DNA vaccines, oncolytic virus vaccines, and personalized neoantigen vaccines, which are tailored to the unique genetic makeup of an individual's cancer.

• Combining cancer vaccines with checkpoint inhibitors, such as PD-1/PD-L1 and CTLA-4 inhibitors, enhances the immune response against cancer cells. Additionally, the incorporation of immune-stimulating agents (adjuvants) boosts the effectiveness of cancer vaccines, creating a more robust immune attack on tumors.
• Personalized cancer vaccines such as neoantigen vaccines, utilize unique tumor-specific antigens derived from an individual patient's tumors to create highly personalized vaccines. The use of mRNA technology to encode neoantigens has been particularly impactful, stimulating the immune system to target and destroy cancer cells effectively.
• Further, advancements in targeted delivery systems have improved the efficacy of cancer vaccines while minimizing side effects. These systems ensure that vaccine components are delivered precisely where they are needed, enhancing the immune response and reducing collateral damage to healthy tissues, thereby contributing to market growth.
   

Cancer Vaccine Market Analysis

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Based on type, the market is segmented into preventive vaccine and therapeutic vaccine. The preventive vaccine segment of the market is forecasted to reach USD 15.5 billion by 2032.

• Cancer vaccines designed to prevent specific types of cancer can be administered before any signs or symptoms appear. By targeting known cancer-causing viruses, vaccines can prevent infections that lead to cancer development, providing early intervention at the cellular level.
• Preventing cancer through vaccination reduces the need for costly treatments such as surgery, chemotherapy, and radiation therapy. This not only lowers healthcare expenditures but also alleviates the economic burden on individuals and healthcare systems.
• Additionally, preventive cancer vaccines are generally well-tolerated and have a favorable safety profile. They undergo rigorous testing in clinical trials to ensure their safety and efficacy before approval for public use, providing confidence in their use as preventive measures. Thus, escalating the growth of the market

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Based on technology, the cancer vaccine market is bifurcated into recombinant cancer vaccine, whole-cell cancer vaccine, viral vector & DNA cancer vaccine, antigen/adjuvant cancer vaccine, and other technologies. The recombinant cancer vaccine segment accounted for USD 3.3 billion in 2023.

• Recombinant cancer vaccines can be designed to target specific antigens present on cancer cells. By using recombinant DNA technology, scientists can engineer vaccines to express tumor-associated antigens (TAAs) or neoantigens that are unique to cancer cells. This specificity helps in triggering a targeted immune response against cancer cells while minimizing damage to healthy tissues.
• Additionally, recombinant cancer vaccines stimulate the immune system to recognize and attack cancer cells more effectively. They can enhance both cellular immunity (T cells) and humoral immunity (antibodies), creating a robust and coordinated immune response against cancer.
• Additionally, recombinant technology allows for the development of vaccines targeting various types of cancers and specific subtypes within each cancer type. This versatility enables personalized medicine approaches, vaccines can be tailored to individual patients based on their genetic profile and tumor characteristics. Thus, propelling the growth of the market.

Based on application, the cancer vaccine market is segmented into prostate cancer, cervical cancer, colorectal cancer, lung cancer, melanoma, and other applications. The cervical cancer segment of the market is forecasted to reach USD 6.2 billion by 2032.

• Cervical cancer vaccines, such as gardasil and cervarix, have proven highly effective in preventing infections with the high-risk HPV types that cause the majority of cervical cancers.
• The vaccines not only prevent cervical cancer but also reduce the incidence of pre-cancerous cervical lesions (cervical intraepithelial neoplasia or CIN). This early intervention helps prevent the progression from HPV infection to cancer, decreasing the need for invasive treatments and procedures
• Additionally, cervical cancer vaccines have undergone rigorous testing and have been shown to have a favorable safety profile. The vaccines are generally well-tolerated, with the most common side effects being mild and temporary, such as pain at the injection site, mild fever, and headache. Thus, driving the growth of the market.

Based on end-use, the cancer vaccine market is divided into hospitals, cancer treatment centers, academic and research institutes, and other end-users. The hospitals segment accounted for USD 3.5 billion in 2023.

• Cancer vaccines enable hospitals to provide early intervention against cancers with known viral etiologies. For example, HPV vaccines can prevent cervical cancer and other HPV-related cancers, and hepatitis B vaccines can reduce the risk of liver cancer. Early vaccination can prevent the onset of these cancers, leading to better health outcomes.
• Hospitals are well-equipped to conduct clinical trials, providing a controlled environment to test the efficacy and safety of new cancer vaccines. They have robust systems for data collection and patient monitoring capabilities, which are essential for evaluating vaccine outcomes and conducting research.
• Further, hospitals can offer personalized cancer vaccine treatments based on individual patient profiles, leveraging their diagnostic and genomic capabilities. They provide comprehensive support services, including counseling, nutrition, and rehabilitation, that are crucial for patients undergoing cancer vaccination. This contributes in fueling the revenue growth in hospitals segment.

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The growth of the cancer vaccine market in the U.S. projected to reach USD 8.5 billion by 2032.

• The U.S. has a strong regulatory framework with agencies such as the Food and Drug Administration (FDA) ensuring that cancer vaccines meet high standards for safety and efficacy. The rigorous approval process builds public trust in new vaccines and accelerates their adoption once approved.
   
• The increasing prevalence of cancer in U.S. is driving substantial growth in the market. For instance, according to the Centers for Disease Control and Prevention (CDC) in 2020, there were 1,603,844 new cases of cancer reported, with 602,347 individuals losing their lives to this disease, in U.S.

The cancer vaccine market in UK is expected to experience significant and promising growth from 2024 to 2032.

• The UK has a vibrant biotech and pharmaceutical sector, with many companies specializing in oncology and vaccine development. This sector's expertise and resources support the advancement and commercialization of innovative cancer vaccines.
   
• The UK’s Medicines and Healthcare products Regulatory Agency (MHRA) is known for its rigorous yet efficient regulatory processes. The agency works closely with researchers and companies to ensure that cancer vaccines meet high safety and efficacy standards while facilitating timely approvals.

Japan cancer vaccine market is anticipated to witness lucrative growth between 2024 – 2032.

• Japan is renowned for its advanced research and technology in biotechnology and medical fields. The country’s investment in cutting-edge research facilities and its focus on innovation drive the development of sophisticated cancer vaccine technologies.
• Japan’s emphasis on quality and safety in healthcare ensures that new cancer vaccines are developed and administered with the highest standards. This focus builds public trust in new treatments and supports their widespread adoption.

The cancer vaccine market in Saudi Arabia is expected to experience significant and promising growth from 2024 to 2032.

• Saudi Arabia is actively collaborating with leading international research institutions and pharmaceutical companies. These partnerships facilitate the transfer of knowledge, technology, and expertise, accelerating the development and deployment of cancer vaccines in the country.

Cancer Vaccine Market Share

The cancer vaccine sector is competitive in nature, with a mix of major global and smaller to medium-sized companies competing for market share. A pivotal aspect of market strategy involves the continual introduction of innovative products leveraging diverse technologies. Notably, prominent industry players command considerable influence in this dynamic landscape, often driving forward advancements through substantial investments in research and development. Stringencies in regulatory requirements for approval of new cancer vaccines and requirement for high initial capital investments creates hurdles for the newer players to enter into the market. Smaller players focus on specific therapies to compete with established players.

Cancer Vaccine Market Companies

Some of the eminent market participants operating in the cancer vaccine industry include

• Ayala Pharmaceuticals
• AstraZeneca PLC
• Amgen Inc.
• Bristol-Myers Squibb Company
• Dynavax Technologies Corporation
• Dendreon Pharmaceuticals LLC
• Ferring Pharmaceuticals
• F. Hoffmann-La Roche Ltd 
• GeneReach Biotechnology Corp.
• GSK plc
• EOM Pharmaceutical Holdings, Inc.
• Merck & Co., Inc.
• Moderna, Inc.
• OSG Immunotherapeutics
• Sanofi

Cancer Vaccine Industry News

• In March 2024, AstraZeneca PLC announced its definitive agreement to acquire Fusion Pharmaceuticals Inc., a clinical-stage biopharmaceutical company. This strategic move aims to integrate Fusion Pharmaceuticals' innovative therapies into AstraZeneca's oncology portfolio, bolstering its ability to deliver groundbreaking treatments that address unmet medical needs in cancer care on a global scale
• In December 2022, Moderna, Inc., and Merck announced that their Phase 2b trial of mRNA-4157/V940, a personalized mRNA cancer vaccine, combined with Merck's KEYTRUDA therapy, showed a significant improvement in recurrence-free survival (RFS) compared to KEYTRUDA alone for stage III/IV melanoma patients’ post-surgery. This successful outcome not only validates Moderna's innovative mRNA vaccine technology but also enhances its competitive edge in the oncology market, potentially paving the way for future advancements and partnerships in cancer treatment.

The cancer vaccine market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments

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Market, By Type

• Preventive vaccine
• Therapeutic vaccine

Market, By Technology

• Recombinant cancer vaccine
• Whole-cell cancer vaccine
• Viral vector & DNA cancer vaccine
• Antigen/adjuvant cancer vaccine
• Other technologies

Market, By Application

• Prostate cancer
• Cervical cancer
• Colorectal cancer
• Lung cancer
• Melanoma
• Other applications

Market, By End-use

• Hospitals
• Cancer treatment centers
• Academic and research institutes
• Other end-users

The above information is provided for the following regions and countries

• North America 
  • U.S.
  • Canada
• Europe 
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America 
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa 
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa