The global cancer vaccines drug pipeline market size is projected to register a significant CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the increasing incidence of cancer across the globe and growing awareness regarding the benefits of vaccines. Moreover, the rising usage of alcohol consumption and tobacco products coupled with absence of physical activity & high consumption of unhealthy diet are major causes for cancer.
Cancer vaccines helps to prevent from further spread of the cancerous cells by strengthening the immune response system of patients. These vaccines are widely adopted for the treatment or preventive measures. Cancer vaccines are not very popular as compared to other therapeutic drugs as they are newly adopted in various therapies. However, the development of cancer vaccines is increasing due to an increase in the number of cancer cases and rising government attention towards healthcare activities. The commercialization of cancer vaccine drug pipeline products goes through four main stages: discovery, pre-clinical, clinical trials, and marketing. Some of the common types of cancer with less therapeutics & diagnostics include cervical cancer, breast cancer, lung cancer, and prostate cancer. As per the reports by the World Health Organization (WHO), the leading cause of death around the world is cancer. Another report published in December 2020 by WHO stated that during the lifetime one in five people gets affected by cancer and one in eight men and one in 11 women die due to cancer. It also stated that the global number of cancer cases increased to 19.3 million along with 10 million deaths caused by the disease.
The COVID-19 pandemic had harsh impact on majority of the industries and it had a negative impact on the cancer vaccine drug pipeline market. With the increase in the spread of COVID-19, the healthcare system across the world shifted its focus to stop the virus spread and prevent it from causing any further damage. This particular shift of the entire healthcare system also causes a delay in the diagnosis, treatment, and the prevention of chronic conditions such as cancer. However, the market is anticipated to get back on track and recover its growth rate in the coming years owing to snapping back clinical trials and research & development activities related to cancer vaccines.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing rate of survival of cancer patients by using a combination of pharmacotherapeutics and vaccines is expected to fuel the market growth during the forecast period.
- Growing patient assistance programs by several industry vendors that provide branded medications at reduced or free of cost is anticipated to propel the market growth in the coming years.
- Cancer vaccines are thermo-sensitive due to which their cold chain management is complex and sensitive. This is a major challenge that can restrain the market expansion in the coming years.
- Availability of alternative therapies for the treatment of cancer coupled with the long time required for the manufacturing process of vaccines are major restraining factors that can hinder the market growth.
- Technological advancements for the development of cancer vaccines coupled with increasing investments made by various governments in different regions are projected to create key opportunities for market expansion.
Scope of the Report
The report on the global cancer vaccines drug pipeline market includes an assessment of the market, trends, and segments. Overview and dynamics have also been included in the report.
Cancer Vaccines Drug Pipeline Market – Global Industry Analysis, Growth, Share, Size, Trends, And Forecast
Products (Prophylactic Vaccines and Therapeutic Vaccines)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Merck & Co. Ltd.; F. Hoffmann-La Roche Ltd.; Bristol-Myers Squibb Co.; Arbor Pharmaceuticals LLC; and Eisai Co. Ltd.
Market Segment Insights
Prophylactic vaccines segment is expected to expand at a high growth rate
On the basis of products, the global cancer vaccines drug pipeline market is bifurcated into prophylactic vaccines and therapeutic vaccines. The prophylactic vaccines segment is expected to expand at a high growth rate during the forecast period as it prevents the development of cancer in the initial stages of a patient. However, the therapeutic vaccines segment is anticipated to exhibit significant growth in the coming years owing to the long viability of drugs along with the rise in the number of cancer patients.
Asia Pacific is estimated to witness a high growth rate
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a large share of the market in 2019 and is projected to register a substantial CAGR during the forecast period owing to the presence of a well-established healthcare system and wide adoption of advanced techniques for the development of vaccines drug in the region. However, the market of Asia Pacific is estimated to expand at a high growth rate during the projected period attributed to growing awareness among consumers about several vaccine drugs available and rising spending on healthcare expenses among a large number of the regional population.
The global cancer vaccines drug pipeline market has been segmented on the basis of
- Prophylactic Vaccines
- Therapeutic Vaccines
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Merck & Co. Ltd.
- F. Hoffmann-La Roche Ltd.
- Bristol-Myers Squibb Co.
- Arbor Pharmaceuticals LLC
- Eisai Co. Ltd.
Key players competing in the global cancer vaccines drug pipeline market are Merck & Co. Ltd.; F. Hoffmann-La Roche Ltd.; Bristol-Myers Squibb Co.; Arbor Pharmaceuticals LLC; and Eisai Co. Ltd. Many of these players have adopted business strategies such as development of new drugs, launch of new products, and advancement of technologies to ensure competitive edge in the market. Moreover, these players widely engage in partnerships, mergers, and production capacity expansion in order to increase their consumer base and expand their market position globally.