Cancer Vaccines Global Market Report 2020-30: COVID-19 Growth and Change

New York, Dec. 10, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cancer Vaccines Global Market Report 2020-30: COVID-19 Growth and Change" - https://www.reportlinker.com/p05995337/?utm_source=GNW
21 billion in 2019 to $4.89 billion in 2020 at a compound annual growth rate (CAGR) of -6.16%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $7.61 billion in 2023 at a CAGR of 15.85%.

The cancer vaccines market consists of sales of vaccines used for the treatment of cancers and related services by entities (organizations, sole traders and partnerships) that produce vaccines for cancer treatment. Cancer treatment vaccines, also called therapeutic vaccines are a type of immunotherapy, which stops tumor growth, destroys cancer cells and prevents the reoccurrence of cancers. The market consists of revenue generated by the companies manufacturing cancer vaccines by the sales of these products.

North America was the largest region in the cancer vaccines market in 2019. Asia-Pacific is expected to be the fastest-growing region in the forecast period.

In May 2020, Merck, a US-based pharmaceutical company, acquired Themis Bioscience for an undisclosed amount. The acquisition is expected to complement Merck’s capabilities in the development, manufacturing, and distribution of vaccines. Themis Bioscience is a pharmaceutical company that manufactures vaccines and immune-modulatory therapies developed using the measles virus vector platform based on a vector originally.

The cancer vaccines market covered in this report is segmented by type into preventive cancer vaccines; therapeutic cancer vaccines. It is also segmented by technology into dendritic cells (DC) cancer vaccines; recombinant cancer vaccines; antigen/adjuvant cancer vaccines; whole cell cancer vaccines; viral vector & DNA cancer vaccines, by cancer type into prostate; cervical; colorectal; throat; others and by end-user into cancer treatment centers; research institutes.

Alternative treatment methods and natural remedies are increasingly becoming popular globally and this is expected to have a negative impact on the revenues of cancer vaccines manufacturing companies. Treatments in the fields of homeopathy, Ayurveda, yoga, acupuncture, sujok therapy are gaining popularity and slowly replacing some traditional hospital practices. For instance, Ayurvedic medicine, an ancient Indian system of medicine uses a range of techniques and treatments for cancer. According to the World Health Organization (WHO), some nations are still responding to plant-based treatment as their main medicine source and developing nations are using the benefits of natural compounds for therapeutic purposes, which is affecting the cancer vaccine sales. Also, the global homeopathic product market is projected to reach $18.6 billion by the end of 2027. This trend is expected to continue during the forecast period and limit the demand for cancer vaccines.

Companies in the cancer vaccines market are increasingly investing in preventive or prophylactic vaccines for cancer prevention. Prophylactic vaccines are designed to build immunity in a patient. A prophylactic or preventative vaccine involves introducing antigens into a person’s body. According to the World Health Organization, in 2018, cervical cancer was reported as the second-most common cancer in women with an estimation of 84% new cases worldwide. So far, there are 3 HPV vaccines currently present for the prophylaxis of cancers. Two among these will protect against both HPV 16 and HPV 18, which causes 70% of cervical cancer and the third vaccine prevents 3 more oncogenic HPV types, which further causes 20% of cervical cancers. These three vaccines include Gardasil and Gardasil9 by Merck and Cervarix by GSK. In April 2019, Bayer, through its investment arm Leaps by Bayer, has invested in a US-based biotechnology firm Khloris Biosciences, which is focused on developing prophylactic anti-cancer vaccines.

The rise in the number of cancer cases across the globe is likely to contribute to the growth of the cancer vaccines market during the forecast period. According to the American Cancer Society, there were 1,7 million new cases and 0.6 million cancer deaths in 2019 in the USA. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all the new cancer cases. Therefore, the rise in cancer incidence rate globally is anticipated to boost the demand for the cancer vaccines market over the coming years.





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