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Cancer Vaccines Market Size, Share & COVID-19 Impact Analysis, By Type (Preventive and Therapeutic), By Indication (Cervical Cancer, Prostate Cancer, Bladder Cancer, and Lung Cancer), By Distribution Channel (Hospitals, Government Suppliers, and Others), and Regional Forecasts, 2022-2029

Last Updated: May 06, 2024 | Format: PDF | Report ID: FBI106958



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The global cancer vaccines market size was valued at USD 6.43 billion in 2021 and is projected to grow from USD 7.32 billion in 2022 to USD 19.12 billion by 2029, at a CAGR of 14.7% during the forecast period (2022-2029). North America accounted for a market value of USD 2.45 billion in 2021.

The global COVID-19 pandemic has been unprecedented and staggering, with cancer vaccines experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a slower growth of 7.7% in 2020 as compared to 2019. In 2022, a mRNA vaccine, which is jointly developed by Moderna and Merck, showed positive phase 2 clinical trial results in reducing the risk of melanoma cancer recurrence. Although there are not many approved products at present even with the therapeutic cancer vaccines being researched for over a decade, the large number of pipeline products in the cancer vaccines space is expected to drive the market in the forecast period. For example, BioNTech’s FixVac and iNeST platforms have multiple candidates in Phase 1 and Phase 2.

Cancer is a significant global public health concern, and with the increasing incidence of cancer globally, cancer prevention is one of the most critical public health challenges of the 21st century.

  • According to statistics published by the World Cancer Research Fund (WCRF), there were about 18.1 million cancer cases worldwide in 2020, of which 9.3 million were males and 8.8 million females.

Environmental risk factors, such as pollution, along with biological factors such as alcohol consumption, unhealthy diet, tobacco use, smoking, and others, are responsible for the rising incidence of cancer. The World Health Organization (WHO), in February 2022, stated that cancer-causing infections, such as Human Papillomavirus (HPV) and hepatitis, are responsible for approximately 30.0% of cancer cases in low and middle-income countries.

Such high cancer prevalence can be prevented by avoiding risk factors and implementing prevention strategies such as early screening tests and prophylactic or therapeutic immunization among cancer patients. According to an article published by the National Center for Biotechnology Information (NCBI) in 2021, the cancer mortality rate decreased by 31.0% from 1991 through 2018 in the U.S., owing to early detection & treatment of cancer and the adoption of a healthy lifestyle among individuals.

Thus, rising screening tests and a significant patient pool suffering from cancer are leading to higher demand for preventive and therapeutic therapies amongst the population. Similarly, increasing clinical studies by leading players and extensive product approvals on cancer treatment owing to high demand will further benefit the market.

  • According to Merck & Co., Inc. statistics, more than 28.0 million doses of the HPV vaccine Gardasil were sold in the U.S. between 2014 and 2017.

  • According to data published by a lancet study from January 2006 to June 2019 in the U.K., in comparison with unvaccinated women, cervical cancer rates were 87.0% lower in women who had been administered with the HPV vaccine at the age of 12-13 years as part of the U.K. HPV vaccination program.

Therefore, rising cancer incidence and the high demand for vaccines to prevent or treat cancer globally will drive the growth of the cancer vaccines market .

Key Takeaways:

  • North America holds the largest market share, contributing USD 2.45 billion in 2021.

  • North America dominated the market with a share of 38.10% in 2021.

  • By type, preventive vaccines segment accounted for the largest share of the market in 2021.


The impact of the COVID-19 pandemic resulted in slower growth in 2020. Vaccination programs across schools, health facilities, and community outreach interventions were hampered due to the impact of COVID-19-enforced restrictive measures by several countries, which resulted in school closures and disruptions to routine immunization services. Similarly, many countries enforced community lockdowns which postponed their vaccination programs and hampered regular cancer testing among the population.

  • For instance, according to the ‘HPV Supply and Demand Report’ published by UNICEF, in October 2020, there was a decline of 20.0% in HPV vaccine coverage rates in most countries across the globe.

However, the strategic expansion of key players with government initiatives for mass immunization among women and high awareness amongst the population for complete immunization against cancer in developed countries compensated for the decline in vaccination coverage during the COVID-19 pandemic.

  • For instance, as per the cancer trends progress report published by National Cancer Institute (NCI) in 2020, 54.5% of adolescents aged 13-15 years received 2 or 3 doses of the Human Papillomavirus (HPV) vaccine in the U.S. The same report reported a considerable slow growth of 4.0% from 2019-2020 compared to 15.0% from 2018-2019 in HPV vaccination coverage across the U.S.

Additionally, key industry players' increased emphasis on clinical trials for developing new vaccines and rising product approvals across emerging countries further propelled the market during the COVID-19 pandemic. Moreover, the increasing unmet demand of the target population for HPV vaccination across emerging countries further drove the need for immunization, which reimbursed the decline of preventive vaccination coverage from 2019-2020.

  • For instance, in May 2020, Cecolin, a domestically manufactured HPV vaccine against cervical cancer, was approved by the National Medical Products Administration (NMPA) in China. Similarly, according to Beijing Wantai annual report estimates in 2020, Cecolin sales registered a revenue of USD 11.0 million in China.

  • According to data published by China National Institute for Food and Drug Control in December 2021, the HPV vaccine exports to China only reached slightly over 30.0 million doses by 2020, where a large percentage of the target population was unvaccinated. Moreover, it also stated that the number of HPV vaccines sold in the Chinese market from 2019 to 2020 grew steadily by 48.1% in 2020 compared to 46.2% in 2019.

Therefore, although the cancer immunization rate among the population experienced a decline amidst the impact of the COVID-19 pandemic, increased awareness and high demand for cancer vaccination among individuals exemplified slow growth on the market.


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Rising Investments in Preventive or Prophylactic Vaccines for Cancer Prevention

The inherent challenges associated with developing vaccines for cancer amongst prominent pharmaceutical & biotech players are high. The traditional approach is unreasonable in terms of costs, innovation, and productivity for commercializing these specialized oncology products. Thus, investments in R&D by the major industry players and the number of new vaccines achieving market approval are increasing. However, to achieve the long-term efficiency of cancer immunotherapies, new approaches for R&D investments and advancement in technological innovations by industry players are necessary.

Hence, research institutes and global players are now investing in vaccine manufacturing centers across the globe, thereby boosting vaccine production. This, coupled with rising global product approvals and their extensive presence, will further propel growth of the market.

  • In 2018, the U.K. Research and Innovation (UKRI), a non-departmental public body sponsored by Department for Business, Energy and Industrial Strategy (BEIS), announced USD 78.6 million for the U.K.'s first dedicated Vaccine Manufacturing Innovation Centre (VMIC) to accelerate the growth of the U.K. vaccine industry. VMIC innovates technologies, such as personalized vaccines, and addresses a structural gap in the U.K.'s late-stage vaccine development. Similarly, an additional USD 181.9 million investment was announced by UKRI in May 2020, bringing its total investment in VMIC to USD 233.3 million.

Moreover, market players are raising funds from investors and stakeholders to successfully develop a portfolio of vaccine products and anticipate growth of the market.

  • For instance, in December 2021, PDC line Pharma, a clinical-stage biotech company, completed its series B2 round of financing, raising a total of USD 20.3 million with Belgian and Korean investors for cancer vaccines research.

Therefore, rising investments from research institutes and industry players and a boost in vaccine production are anticipated to be critical factors for the global cancer vaccines market growth.

Recombinant cancer vaccines are anticipated to dominate the market due to an increasing need for advanced and efficient cancer vaccines, coupled with the continuous progress in technology. Recombinant vaccines involve the utilization of yeast or bacteria to produce large quantities of a specific viral or bacterial protein. Subsequently, the patient's immune system generates antibodies against the protein of the disease agent, thereby safeguarding the patient from the actual disease.


Rising Strategic Collaborations among Key Market Players to Propel Market Growth

The market is characterized by a significant focus of industry players such as Merck & Co., Inc., GSK plc, and others on introducing innovative vaccines. However, limited product approvals and an imbalance of therapeutic indications in the current vaccine pipeline threaten a significant gap in the market.

In addition, small & mid-size biotech companies and academic institutions focused on innovation in cancer immunization are struggling for capital and investments for vaccine production. Hence, the adoption of new business models that are open for collaboration and can help these players reach global markets and contribute new advanced products to the market.

Therefore, several mid-size immunotherapy players engaged in the R&D of prophylactic and therapeutic vaccines are now collaborating with major industry companies to conduct clinical trials to evaluate the safety and efficacy of vaccines. Such alliances among the market players further augment the prospect of technologically advanced products, thereby propelling the market share.

  • In June 2020, UbiVac, Inc. announced a clinical trial collaboration with Bristol Myers Squibb to evaluate the safety, tolerability, and preliminary efficacy of UbiVac's investigational product, DPV-001, in combination with Immunotherapy for Advanced Triple Negative Breast Cancer.

Moreover, market players with similar technology are working in alliances to boost production & commercialize vaccines. These collaborations will further enhance vaccine efficacy & production, boosting the market growth.

  • In October 2020, Vaccibody AS, a clinical-stage biopharmaceutical company, announced its worldwide license and collaboration agreement with Genentech, Inc., a member of the Roche Group, for the development and commercialization of DNA-based individualized neoantigen vaccines (DNA cancer vaccines) for the treatment of cancers.

Thus, numerous collaborations among the industry players augment new product production and commercialization, further driving the growth of market.


Advances in Personalized Medicine to Limit the Adoption of Cancer Vaccines

Cancer is a complex and heterogeneous condition and is one of the leading causes of death across the globe. Preventive cancer vaccines treat cancer by strengthening the body's natural defenses against cancer while therapeutic vaccines act against the cancer cells and not against the cause of cancer. Moreover, these vaccines are a type of immunotherapy with limited product approvals across the globe, covering limited cancer types. 

Some cancer types (colon, breast, and non-Hodgkin's lymphoma) contain even more specific classifications based on their molecular subtypes. Additionally, the expression of markers within the same tumor varies depending on the location or stage of cancer. Thus, more precise treatment approaches, other than cancer vaccines, are necessary for such cancer types to obtain a better prognosis.

Personalized or precision medicine in oncology is an emerging prevention and treatment approach. It potentially modifies therapy toward the tumor's oncogenic drivers and modulates its environment. Moreover, advances in precision medicine have led to new and FDA-approved treatments for specific characteristics of individuals, such as a person's genetic makeup or the genetic profile of an individual's tumor.

  • For instance, according to the “PERSONALIZED MEDICINE AT FDA: The Scope & Significance of Progress in 2021' Report, the FDA approved or cleared 12 personalized medicines and seven diagnostics in 2019. Moreover, personalized medicines have now accounted for more than a third of new drug approvals for the last few years by FDA.

  • In March 2021, the Food and Drug Administration (FDA) approved idecabtagene vicleucel by Bristol Myers Squibb to treat adult patients with relapsed or refractory multiple myeloma.

Treatment modalities most often used in precision medicine, such as targeted drug therapy, or immunotherapy, are opted for as per cancer type and severity. Similarly, extensive clinical trials in personalized medicine are being conducted across the globe to boost efficient cancer immunotherapy for patients. Recent advances in precision medicine of customized therapy for the specific gene and protein changes in cancer promise efficient treatment amongst cancer patients.

Thus, such demand for advanced therapies with better care for patients may limit the adoption of these vaccines across the globe.


By Type Analysis

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Preventive Segment to Dominate Owing to Rising Initiatives of Mass Immunization by Government Agencies Across the Globe

By type, the global market is segmented into preventive and therapeutic.

Among types, the preventive segment accounted for the larger market share in 2021. The dominance is attributed to rising strategic initiatives of prophylactic immunization by government agencies amidst rising cancer prevalence across the globe. Similarly, mass immunization led to high awareness among individuals regarding these vaccines, increasing the demand for preventive vaccines. Furthermore, several research institutions and industry players are focusing on conducting study trials and approval for prophylactic vaccines owing to increasing demand. Thus, such initiatives, coupled with extensive product approvals, will further boost the segment.

  • For instance, in December 2021, Cleveland Clinic partnered with Anixa Biosciences, Inc. to open a phase 1 trial examining a vaccine to prevent the development of triple-negative breast cancer.

On the other hand, the therapeutic segment is expected to reach a comparatively higher CAGR during the forecast period. The growth of the therapeutic segment is attributed to high cancer prevalence worldwide and rising research initiatives by leading players to curb the rising cancer incidence by introducing new products in the market.

  • In June 2022, Treos Bio Limited, a biotechnology company, announced the first patient dosed in a phase 2 trial of polypepi1018 in combination with pd-l1-inhibitor manufactured by F. Hoffmann-La Roche AG for the treatment of metastatic colorectal cancer.

By Indication Analysis

Cervical Cancer Segment to Dominate Owing to Rising Number of Cervical Cancer Cases Amongst Women

Based on indication, the market is segmented into cervical cancer, bladder cancer, prostate cancer, and lung cancer.

By indication, the cervical cancer segment accounted for the highest market share in 2021. The highest share was attributable to rising cases and increased mortality in women suffering from cervical cancer worldwide.

  • For instance, according to the World Health Organization (WHO), cervical cancer is the 4th most commonly occurring cancer in women, and there were more than 604,000 new cases of cervical cancer in 2020.

Moreover, increasing risk factors, such as smoking, HPV infections, and prolonged use of oral contraceptives in women, in developed countries contribute to the increased number of cervical cancer cases. Similarly, low uptake of HPV immunization in emerging countries due to a lack of awareness of cancer infections and inaccurate information about the safety and advantages of the HPV vaccines in women leads to increasing cervical cancer cases, further driving the segment share.

On the other hand, the bladder cancer segment is projected to register a comparatively higher CAGR owing to its high prevalence in conjunction with its vulnerability to multiple recurrences among patients worldwide. Similarly, the rise of significant risk factors for bladder cancer, including tobacco smoking, industrial exposure to carcinogens such as aromatic amines and carbon black dust, and long-term drinking of arsenic-contaminated or chlorinated water, leads to an increased number of cases, further augmenting the segment share in 2021.

By Distribution Channel Analysis

Hospitals Segment to Lead Backed by Increasing Outpatient Visits and Easy Availability of Vaccines in Hospitals

Based on distribution channel, the cancer vaccines market is segmented into hospitals, government suppliers, and others. The hospitals segment held a dominant share in 2021. The dominance was attributed to increasing cancer prevalence and high outpatient visits by individuals in hospitals for primary screening and consultations regarding cancer. Moreover, the high availability and supply of products such as vaccines in hospital settings and patients' increased preference for vaccine uptake in nearby and well-equipped healthcare centers propelled the segment share.

  • For instance, according to the American Hospital Association’s “2020 Hospital Statistics Report’, in 2018, 879.6 million people visited outpatient departments of hospitals for primary diagnosis and consultations in the U.S.

The government supplies segment is expected to grow at a considerable CAGR during the forecast period. The growth is attributed to rising strategic initiatives by government bodies to supply vaccines owing to high cancer prevalence and increasing partnerships with industry players to procure preventive vaccines for mass immunization amongst the population.

  • For instance, according to the Gavi Vaccine Alliance data, in 2020, Gavi announced five manufacturers [Merck & Co., Inc., GlaxoSmithKline plc, Xiamen Innovax Biotech Co. Ltd., Serum Institute of India Pvt. Ltd., and Walvax Biotechnology Co., Ltd. (Walvax)] commitment to increase production and prioritizing HPV vaccine supply to Gavi-eligible countries with the potential to vaccinate up to 84.0 million girls over the next five years.


North America Cancer Vaccines Market Size, 2021 (USD billion)

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North America dominated the Cancer Vaccines Market with a share of 38.10% and was valued at USD 2.45 billion in 2021. North America held the maximum market share due to the High cancer rates and top-notch medical care.

  • As per the Centers for Disease Control and Prevention (CDC) statistics in 2019, 752,735 new cancer cases and 599,589 deaths by cancer were reported in the U.S.

Moreover, the presence of significant market players in the U.S., with extensive new prophylactic vaccine launches and rising strategies by government agencies for preventive immunization across North America, further boost the market during 2022-2029.

  • According to the National Immunization Surveys (NIS), in 2020, 56.4% of adolescent females of age group 13-15 years received three doses of the Human Papillomavirus (HPV) vaccines in the U.S.

Europe is anticipated to expand at a moderate CAGR during the forecast timeframe. This is attributable to the high burden of cancer cases across Europe and rising expenditure on research and development as an initiative to curb cancer prevalence by launching clinical trials in Europe.

  • For instance, in September 2021, OSE Immunotherapeutics announced the optimistic final results of its Phase 3 trial of neoepitope-based cancer vaccine Tedopi, called Atalante 1, in HLA-A2 positive patients with advanced non-small cell lung cancer (NSCLC) and presented the trial results at the European Society for Medical Oncology (ESMO) Virtual Congress meet.

The Asia Pacific region is expected to register the highest CAGR during the forecast period. The rising government initiatives to provide vaccines through national immunization programs in emerging countries and the rising number of significant players focusing on introducing cancer therapeutics products lead to high demand for cancer vaccines across the Asia Pacific region. Thus, rising national immunization programs and extensive clinical trials to introduce therapeutic vaccines further contribute to this region's growth during the forecast period.

The rest of the world is projected to expand at a slower rate due to the rise of cancer risk factors such as smoking and tobacco use leading to high cancer prevalence across the countries. Similarly, developing new R&D centers by leading industry players to produce new vaccines will further boost the market in the rest of the world.


Significant Investments for Increased Vaccine Production to Propel Market Progress

The global market is primarily dominated by a handful of key manufacturers such as Merck & Co., Inc., GSK plc, and Dendreon Pharmaceuticals LLC., among others. The focus of top market players is significant investments in production capacity for prophylactic & therapeutic vaccines, with an urgency to increase supply to meet the growing global demand owing to high prevalence.

  • For instance, in October 2018, Merck & Co., Inc. declared its capital expenditure plans to increase manufacturing capacity in areas including oncology and vaccines through 2022. The company also announced to invest USD 12.0 billion over five years on global capital projects, where USD 8.0 billion will be spent in the U.S.

Similarly, other prominent players in the market, including GSK plc, Walvax Biotechnology Co., Ltd., and Biomed Lublin S.A. are continuously engaged in the production of these vaccines and focusing on enhancing their distribution channels across the global market through strategic partnerships and R&D investments to establish their footprints in emerging nations. Such initiatives are projected to propel the number of emerging players, and are expected to register growth for the global market share by 2029.



  • October 2022 - Anxia Biosciences initiated the Phase Ib clinical trial for its preventive breast cancer vaccine, with funding secured through a grant from the United States Department of Defense.

  • September 2022 - the Union Minister of State for Science and Technology unveiled India's domestically produced vaccine, "CERVAVAC," designed to safeguard against cervical cancer.

  • November 2021 - Dendreon Pharmaceuticals LLC., a manufacturer of dendritic cell (D.C.) cancer vaccine, and Shoreline Biosciences announced CMC and manufacturing alliance to advance the future of iPSC cellular therapy.

  • December 2020 - Merck & Co., Inc. declared to build a new manufacturing facility to increase its production of TICE Bacillus Calmette–Guérin, tripling its current manufacturing capacity.


An Infographic Representation of Cancer Vaccines Market

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The cancer vaccines market report provides detailed market analysis and focuses on crucial aspects such as leading players, product types, and major product indications. Additionally, it offers insights into market trends, key industry developments such as mergers, partnerships, & acquisitions, and the impact of COVID-19 on the market. In addition to the factors mentioned above, the report includes the factors that have contributed to the market's growth in recent years with a regional analysis of different segments.

Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period



Value (USD billion)


By Type, Indication, Distribution Channel, and Region

By Type

  • Preventive

  • Therapeutic

By Indication




  • Cervical Cancer

  • Bladder Cancer

  • Prostate Cancer

  • Lung Cancer

By Distribution Channel

  • Hospitals

  • Government Suppliers

  • Others

By Region

  • North America (By Type, By Indication, By Distribution Channel, By Country)

    • U.S.

    • Canada

  • Europe (By Type, By Indication, By Distribution Channel, By Country/Sub-Region)

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Scandinavia

    • Rest of Europe

  • Asia Pacific (By Type, By Indication, By Distribution Channel, By Country/Sub-Region)

    • China

    • Japan

    • India

    • Australia

    • Southeast Asia

    • Rest of Asia Pacific

  • Rest of the World (By Type, By Indication, By Distribution Channel)

Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 6.43 billion in 2021 and is projected to reach USD 19.12 billion by 2029.

Registering a CAGR of 14.7%, the market will exhibit steady growth in the forecast period (2022-2029).

The preventive segment is expected to lead this market during the forecast period.

The rising prevalence of cancer cases and increasing clinical trials for new cancer vaccines across the globe are the key factors driving the market growth.

Merck & Co., Inc., GSK plc, and Dendreon Pharmaceuticals LLC are the major players in the global market.

High demand for mass immunization and product approvals around the globe is expected to drive the adoption of these products.

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