North America Cancer Vaccines Market Outlook 2031:
The North America cancer vaccines market size was valued at USD 3.03 in 2022 and is projected to reach USD 12.94 Billion by 2031, expanding at a CAGR of 17.5% during the forecast period 2023 - 2031. The growth of the market is attributed to the technological advancements in the healthcare sector.
Vaccines can be utilized in treatment of cancer as it can perceive protein that are available for particular cancer cells. Cancer vaccines provide various advantages as it can stop the development of dangerous cells, prevents cancer relapse and obliterate malignancy cells that are abandoned after cancer treatment.
A wide range of vaccine are used for the treatment of cancer such as antigen vaccines, which boost the immune system instead of using whole tumor cells that can be targeted to specific cancer type. Vector-based antibodies can be utilized to convey more than one cancer antigen at a time.
Constant advancement by manufacturers for improvement of new immunizations is relied upon new vaccines, which is expected to boost the growth of the global cancer vaccines market.
North America Cancer Vaccines Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for vaccines to meet unmet requirements is expected to upsurge the market growth.
- Rising occurrence of cancer such as cervical cancer, prostate cancer, breast cancer, and lung cancer globally is expected to fuel the growth of global cancer vaccines market during the forecast period.
- Rising investments and government funding is estimated to fuel the growth of the market in North America.
- High development cost and longer time incurred in the development of vaccines can hinder the market growth.
- Innovations focusing on development of effective and specific cancer treatment is anticipated to create new opportunities for major players in the cancer vaccines market during the forecast period.
Scope of the North America Cancer Vaccines Market Report
The report on the North America cancer vaccines market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Details |
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Report Title
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North America Cancer Vaccines Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Technology (Recombinant Cancer Vaccines, Whole-cell Cancer Vaccines, Viral Vector, DNA Cancer Vaccines, and Other Technology), Treatment Methods (Preventive Vaccine and Therapeutic Vaccine), Applications (Prostate Cancer, Cervical Cancer, and Other Applications)
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Geographical Scope
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Canada, The US, Mexico, and Rest of North America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Astellas Pharma Inc.; Merck & Co. Inc.; GlaxoSmithKline; Bristol-Myers Squibb; and Amgen Inc.
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North America Cancer Vaccines Market Segment Insights
Recombinant Cancer Vaccines segment is expected to grow at a rapid pace
Based on technology, the market is divided into recombinant cancer vaccines, whole-cell cancer vaccines, viral vector, DNA cancer vaccines, and other technology. The recombinant cancer vaccines segment is expected to grow at a rapid pace during the forecast period.
Rising utilization of recombinant vaccines, increasing adoption of recombinant technology to develop cancer vaccines are the key factors that can boost the growth of the market segment.
Preventive vaccines segment is projected to expand at a healthy CAGR
On the basis of treatment methods, the market is segregated into preventive vaccine and therapeutic vaccine. The preventive vaccine segment is projected to expand at a considerable CAGR during the forecast period.
Preventive vaccines work by preventing infectious agents that cause or contribute to the development of cancer. Two types of disease avoidance antibodies endorsed by the US Food and Drug Administration (FDA) that incorporate the human papillomavirus immunization (HPV) and hepatitis B immunization.
Prostate cancer segment is anticipated to account a major market share
In terms of applications, the market is segmented into prostate cancer, cervical cancer, and other applications. The prostate cancer segment is estimated to account for a major market share owing to increasing case of prostate cancer in women globally.
The US is anticipated to constitute a key market share
In terms of regions, the North America cancer vaccines market is classified as Canada, the US, Mexico, and Rest of North America. The US is expected to constitute a key share of the market during the forecast period.
This is attributed to the presence of dominant players in the market and well developed healthcare infrastructure in the country.
Segments
The North America cancer vaccines market has been segmented on the basis of
Technology
- Recombinant Cancer Vaccines
- Whole-cell Cancer Vaccines
- Viral Vector
- DNA Cancer Vaccines
- Other Technology
Treatment Methods
- Preventive Vaccine
- Therapeutic Vaccine
Applications
- Prostate Cancer
- Cervical Cancer
- Other Applications
Geography
- Canada
- The US
- Mexico
- Rest of North America
Key Players
Competitive Landscape
Key players competing in the North America cancer vaccines market are Astellas Pharma Inc.; Merck & Co. Inc.; GlaxoSmithKline; Bristol-Myers Squibb; and Amgen Inc.
Some of the market players are adopting strategies such as merger, acquisition, partnership, collaboration, and capacity expansion to enhance their market position.
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