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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 company’s manufacturing cancer vaccines by the sales of these products.
Global Cancer Vaccines Market Size And Drivers:
The global cancer vaccines market is expected to grow from $4.90 billion in 2020 to $5.55 billion in 2021 at a compound annual growth rate (CAGR) of 13.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The cancer vaccines market is expected to reach $9.18 billion in 2025 at a CAGR of 13%. 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.
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Trends In The Global Cancer Vaccines Market
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, 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.
Global Cancer Vaccines Market Segments:
The global cancer vaccine market is further segmented –
By Type: Preventive Cancer Vaccines, Therapeutic Cancer Vaccines
By Technology: Dendritic Cells (DC) Cancer Vaccines, Recombinant Cancer Vaccines, Antigen/Adjuvant Cancer Vaccines, Whole Cell Cancer Vaccines, Viral Vector & DNA Cancer Vaccines
By Cancer Type: Prostate, Cervical, Colorectal, Throat, Others
By End-User: Cancer Treatment Centers, Research Institutes
By Geography: The global cancer vaccines market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Cancer Vaccines Market At:
https://www.thebusinessresearchcompany.com/report/cancer-vaccines-global-market-report-2020-30-covid-19-growth-and-change
Cancer Vaccines Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides cancer vaccines market overviews, analyzes and forecasts market size and growth for the global cancer vaccines market, cancer vaccines market share, cancer vaccines market players, cancer vaccines market segments and geographies, cancer vaccines market’s leading competitors’ revenues, profiles and market shares. The cancer vaccines market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
