Global Cancer Vaccines Market To Have Growth Rate Of More Than 15% Through 2023
The global cancer vaccines market is expected to decline from $5.21 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%.
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.
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The global cancer vaccines market is further segmented based on type and geography.
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. Among these regions, the North American cancer vaccines market accounts for the largest share in the global cancer vaccines market.
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Trends In The 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.
Cancer Vaccines Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides cancer vaccines market overviews, analyzes and forecasts cancer vaccines market size and growth for the global cancer vaccines market, cancer vaccines market share, cancer vaccines market players, cancer vaccines market size, cancer vaccines market segments and geographies, cancer vaccines market trends, cancer vaccines market drivers and cancer vaccines market restraints, 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.