Market Research Report
Cancer Vaccines Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||391386|
|Published||Content info||114 Pages
Delivery time: 2-3 business days
|Cancer Vaccines Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: August 1, 2020||Content info: 114 Pages||
Certain factors that are driving the Cancer Vaccines market's growth include the increasing number of cancer cases, rising investments and government funding in the development of cancer vaccines, and technological developments in cancer vaccines.
The incidence of cancer is increasing every year and it has been the major factor for the growth of the cancer vaccines market. Cancer damages the immune system, as cancer cells produce self-antigen. The cancer vaccines play a vital role in the maintenance of the immune system, as they are considered to be biological response modifiers. These cancer vaccines target the infectious agents that may cause cancer, through the production of the antibodies. Cancer vaccines are considered to be a new therapy and are not popular, as compared to the other alternative therapeutic drugs. However, cancer vaccines have shown great potential in both preventive and therapeutic ways.
Moreover, healthcare physicians are looking for alternate therapies, due to the huge burden of cancer cases and the side effects of the present therapies. Hence, the market for cancer vaccines is expected to grow at a high rate, during the forecast period.
However, in the expanding market for medical therapies, there are stringent regulatory policies in place, to ensure the safety of those therapies. The presence of stringent regulations is hindering the growth of this market.
Preventive Vaccines are Expected to a Hold Significant Market Share in the Treatment Method
Preventive vaccines or prophylactic vaccines are the vaccines intended to prevent cancer in healthy people. These vaccines work by preventing infectious agents that cause or contribute to the development of cancer.
There are two types of cancer prevention vaccines approved by the US Food and Drug Administration (FDA), which include the human papillomavirus vaccine (HPV) and hepatitis B vaccine. According to the National Cancer Institute, the three vaccines approved by the US Food and Drug Administration to prevent human papillomaviruses (HPV) infection are Gardasil, Gardasil 9, and Cervarix. While Gardasil and Gardasil 9 were approved for use among women for the prevention of HPV-caused cervical, vaginal, and anal cancers, Cervarix was approved for the prevention of cervical cancer among women, which is caused by HPV. Hepatitis B vaccine prevents hepatitis B virus (HBV) infection, as prolonged infection with HBV can lead to liver cancer. Moreover, the demand for these vaccines and research in other forms of cancer is expected to increase due to rising incidence of cancer globally.
North America Dominates the Market and is also Expected to do so during the Forecast Period
North America is expected to grow due to the high prevalence of cancer, along with developed healthcare infrastructure in the region. According to the National Cancer Institute, preventive vaccines were approved to treat cancers, by the use of vaccines, namely Human papillomavirus (HPV) vaccines and the Hepatitis B virus (HBV). However, there are many other vaccines that are approved by the FDA, for the prevention of cancer.
In April 2010, the first cancer treatment vaccine, called sipuleucel-T (Provenge), was approved by the FDA. This vaccine was approved to be used on men with metastatic prostate cancer. It was designed to stimulate an immune response to prostatic acid phosphatase (PAP), which is an antigen found in most prostate cancer cells. Moreover, in October 2015, the first oncolytic virus therapy, called talimogene laherparepvec (T-VEC, or Imlygic), was also approved by the FDA. This vaccine is used for the treatment of metastatic melanoma, which cannot be surgically removed.
The global cancer vaccines market is highly consolidated and consists of a few major players. Companies, like Aduro BioTech Inc., Astellas Pharma Inc., AstraZeneca PLC, Bristol-Myers Squibb, Dendreon, GlaxoSmithKline, Merck & Co. Inc., OSE Immunotherapeutics, Sanofi, and Welland Medical Ltd, among others, hold substantial shares in the cancer vaccines market.