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Cancer Vaccines Market Size, Share & Industry Analysis, By Type (Preventive and Therapeutic), By Technology (Molecular-based, Vector-based, and Cell-based), By Indication (Cervical Cancer, Bladder Cancer, Prostate Cancer, Lung Cancer, and Others), By Distribution Channel (Hospitals, Government & Organization Supply, and Others), and Regional Forecast, 2024-2032

Last Updated: November 25, 2024 | Format: PDF | Report ID: FBI106958

 

KEY MARKET INSIGHTS

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The global cancer vaccines market size was valued at USD 10.12 billion in 2023. The market is projected to grow from USD 12.14 billion in 2024 to USD 42.58 billion by 2032, exhibiting a CAGR of 17.0% during the forecast period. North American dominated the cancer vaccines market with a market share of 36.17% in 2023.


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



  • For instance, according to the Cancer Facts & Figures Report published in January 2023 by the American Cancer Society (ACS), an estimated 1.96 new cancer cases in the U.S. would lead to 0.61 million cancer deaths in 2023. The new cancer cases in 2023 indicate an increase of 2.2% compared to 2022.

  • Similarly, according to the American Cancer Society, in the U.S., an estimated 13,820 new cases can be recorded of cervical cancer, with 4,360 deaths amongst women in 2024. Furthermore, as per their statistics, cervical cancer is one of the most common causes of cancer death among American women.


Increasing cancer prevalence among the patient population is further resulting in the growing focus on research and development activities to launch novel vaccines in the market. This, along with a growing focus on strategic acquisitions and mergers among major players to expand their presence, is likely to contribute to the global cancer vaccines market share.



  • In March 2023, BioNTech SE collaborated with OncoC4, Inc., a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel biologicals for cancer treatment among patients.


Thus, growing research and development activities for innovative therapeutic and preventive cancer vaccines and increasing pipeline candidates, among others, are some of the major factors supporting the growth of the market globally.


The impact of the COVID-19 pandemic resulted in slower growthin 2020. However, despite a decline in the cancer immunization rate among the population amidst the pandemic, increased awareness and high demand for cancer vaccination among individuals contributed to slower growth on the market.


Cancer Vaccines Market Trends


Rising Investments in R&D Activities and in Preventive or Prophylactic Vaccines for Cancer Prevention


The challenges inherent in 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, leading to a rise in the number of new vaccines achieving market approval. 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.


Furthermore, the increasing prevalence of cancer among patients, along with early prevention of cancer using these vaccines, is driving the focus of key players toward the manufacturing of novel vaccines in the market.



  • According to the 2023 article published by the Cancer Center, it was reported that the University of Arizona Cancer Center partnered with investigators from 14 university cancer centers and clinics with an aim to conduct a study testing a combination of vaccines for cancer prevention in Lynch Syndrome across the U.S.

  • In April 2021, Sanofi announced a USD 476.2 million investment over five years to establish a unique vaccine production center in Singapore, aiming to enhance operations through cutting-edge manufacturing and digital technologies. In partnership with the Singapore Economic Development Board (EDB), the new site will mainly supply the Asian region and complement existing manufacturing capacities in North America and Europe.


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



  • 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 vaccine research.


Along with the increasing investments, the number of clinical trials for preventive vaccines has also increased in recent years. For instance, in February 2023, the National Cancer Institute published that the researchers have initiated the clinical trial of preventive vaccines for cancers associated with Lynch Syndrome.


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.


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Cancer Vaccines Market Growth Factors


Increasing Incidence of Cancer Among Patients to Support Market Growth


Cancer has emerged as a global public health concern, and with the growing incidence of cancer among patients poses a critical challenges globally.  



  • According to statistics published by the International Agency for Research on Cancer (IARC) in 2022, it was reported that there were approximately 20 million cancer cases, with lung and breast cancer being the most common among the patient population globally.

  • Additionally, according to the same source, it was reported that these cancer cases are projected to increase to 35 million by 2050.


Additionally, certain environmental risk factors, including air pollution and biological risk factors, namely unhealthy diet, alcohol consumption, tobacco use, and smoking, among others, also lead to cancer and other communicable diseases. According to data from the Centers for Disease Control & Prevention (CDC) in 2023, it was reported that almost one-quarter of all cancer in the U.S. deaths are due to lung cancer, with 80% to 90% are linked to cigarette smoking.



  • Moreover, in February 2022, the World Health Organization (WHO) stated that cancer-causing infections such as hepatitis and human papillomavirus (HPV), among others, are responsible for approximately 30% of cancer in low and middle-income countries.


However, the increasing strategic initiatives by the government to promote mass immunization are resulting in the adoption of vaccines and further reducing the cancer mortality rate among patients.


Furthermore, about 30-50% of cancers can be prevented by avoiding risk factors and implementing evidence-based prevention strategies such as early screening tests and clinically approved immunization in cancer-developing patients. Therefore, increasing clinical studies among manufacturers on cancer prevention with an aim to launch advanced novel preventive and prophylactic vaccines is likely to support the adoption of these vaccines in the market.


The rising incidence of cancer and high demand for vaccines for the prevention or treatment of cancer across the globe will drive market growth.


RESTRAINING FACTORS


Advances in Personalized Medicine to Limit the Adoption of Preventive and Therapeutic Vaccines


Cancer has become one of the leading threats affecting several million populations globally. Additionally, cancer vaccines, including therapeutic and preventive vaccines, are a type of immunotherapy with limited product approvals, covering only a few cancer types among patients. Preventive vaccines strengthen the body’s immune system in order to treat cancer, while therapeutic vaccines aim to eradicate cancer cells.


However, few cancer types, including breast, colon, and others, contain specific classifications on the basis of their molecular subtypes among patients. Moreover, the expression of certain markers within the same tumor varies for every individual based on the location or stage of cancer. Therefore, the demand for personalized cancer vaccines is increasing for such cancer types to obtain a better prognosis among patients.


Personalized medicine targets specific genes, often with fewer side effects than other types of treatment among patients. Furthermore, personalized medicine does not affect health cells and focuses on targeting cancer cells only among the patient.



  • For instance, in October 2020, according to an article published by UC San Diego Health, it was reported that the three-year survival rate among patients who received personalized cancer therapy was 55% compared to 25% in patients who received therapy that was unmatched or had low degrees of matching.


Moreover, the growing benefits of precision medicine, including the use of specific treatment modalities such as targeted drug therapy or immunotherapy depending on the cancer type and severity among patients, is further resulting in the growing number of clinical trials for these vaccines. Along with this, increasing preference toward personalized vaccines owing to advancements in precision medicine, including customized therapy for specific protein and gene changes among patients, is likely to hamper the adoption of these vaccines in the market.


Cancer Vaccines Market Segmentation Analysis


By Type Analysis


Preventive Segment Dominated Owing to Rising Adoption of Vaccines Across the Globe


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


The preventive segment accounted for the largest market share in 2023. The dominance of the segment is due to growing initiatives about the prevention of cancer among manufacturers, government bodies, and various healthcare organizations, resulting in growing demand for preventive vaccines in the market. This, along with a rising focus of key players toward research and development activities to launch novel vaccines is likely to support the growth of the segment in the market globally.



  • For instance, in October 2023, Nouscom, a clinical-stage immuno-oncology company, collaborated with the National Cancer Institute with an aim to evaluate positive Phase 1b trial results for the NOUS-209 cancer vaccine at the Society for Immunotherapy of Cancer annual meeting.


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 globally 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.


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By Technology Analysis


Molecular-based Segment Dominated the Market Owing to Expansion of Pipeline Candidates


Based on technology, the market is segmented into molecular-based, vector-based, and cell-based.


The molecular-based segment accounted for the highest market share in 2023. The highest share was attributable to growing technological advancements in these molecular-based vaccines, such as recombinant vaccines and others, resulting in growing demand for these vaccines among the patient population, thereby supporting the segmental growth in the market. This, along with the growing number of pipeline candidates for molecular-based vaccines, is also likely to contribute to the growth of the segment during the forecast period.



  • For instance, in December 2023, Merck & Co., Inc., in collaboration with Moderna, Inc., announced the beginning of the cancer vaccine and KEYTRUDA combo trial in non-small cell lung cancer (NSCLC). With the success of this trial, patients will have the best chance for better outcomes to help fight this disease at earlier stages.


On the other hand, the vector-based segment is also expected to grow during the forecast period. The growth is owing to the growing focus of key players toward launching advanced vector-based vaccines, resulting in the rising adoption of these vaccines among patients, further supporting the segmental growth in the market.



  • In January 2023, Ferring B.V. announced the fully availability of ADSTILADRIN (nadofaragene firadenovec-vncg) across the U.S. for healthcare professionals to prescribe. It is intended for adult patients with high-risk bacillus calmette-guérin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) with carcinoma in situ (CIS) with or without papillary tumors. With significant manufacturing investments, the company achieved a full product supply ahead of schedule.


By Indication Analysis


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


By indication, the market is segmented into cervical cancer, bladder cancer, prostate cancer, lung cancer, and others.


The cervical cancer segment dominated the market in 2023. The dominance is due to the growing prevalence of cervical cancer along with rising awareness regarding the condition, resulting in a growing diagnosis rate among women. The growing diagnosis rate is further supporting the rising demand for preventive and therapeutic vaccines for the treatment of cervical cancer globally.



  • 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 660,000 new cases recorded in 2022.


Additionally factors, including HPV infections, increased rate of smoking, and prolonged use of oral contraceptives in women in developed countries, is also contributing to the growing number of cervical cancer among patients. Similarly, growing strategic initiatives from governments and companies, aim to raise awareness about the safety and benefits of HPC vaccines, especially in emerging countries, is also likely to support the growth of the segment in the market.


On the other hand, prostate cancer segment is also expected to grow during the forecast period, driven by rising focus of key players’ toward launching novel cancer vaccines for the treatment of prostate cancer and the growing number of pipeline candidates.


Additionally, other segments, including lung cancer and skin cancer, are also expected to grow during the forecast period. The growth is due to research initiatives of clinical trials by leading market players to launch cancer vaccines for skin cancer and liver cancer. This results in the growing adoption of immunotherapeutic approaches toward cancer treatment in the market.


By Distribution Channel Analysis


Hospitals Segment Dominated Owing to Increasing Outpatient Visits and Easy Availability of Vaccines in Hospitals


Based on distribution channel, the market is segmented into hospitals, government & organization supply, and others.


The hospitals segment held a dominant share in 2023. 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' preference for vaccine uptake in nearby and well-equipped healthcare centers, further 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 & organization supply 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 data published by the United Nations International Children’s Emergency Fund (UNICEF) in 2023, it was reported that they procured 150 million doses of BCG cancer vaccine with the aim of distributing these vaccines among the patient population globally.


REGIONAL INSIGHTS


Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.


North America Cancer Vaccines Market Size, 2023 (USD Billion)

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The North America market was valued at USD 3.66 billion in 2023 and is projected to expand at a substantial CAGR during the forecast period. The growth is attributed to the high prevalence of cancer cases and the presence of technologically developed healthcare infrastructure for cancer treatment across North America.



  • According to 2023 data published by the National Cancer Institute (NCI), it was estimated that approximately 2.0 million are projected to be diagnosed with cancer in the U.S. Moreover, the presence of significant vaccine manufacturers in the U.S., with extensive new product launches, is further boosting the market during 2024-2032.


Moreover, increasing awareness about novel vaccines, along with the presence of significant market players in the U.S., with extensive new prophylactic vaccine launches, fuels the market.  Rising strategies by government agencies for preventive immunization across North America, further boost the market during 2024-2032.



  • 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 increasing prevalence of cancer 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.  These results were presented at the European Society for Medical Oncology (ESMO) Virtual Congress, focusing on HLA-A2 positive patients with advanced non-small cell lung cancer (NSCLC).


On the other hand, Asia Pacific is also expected to grow during the forecast period. The growth is due to a rising focus on government and non-governmental organizations to raise awareness about the safety of these cancer vaccines by organizing various immunization programs among patients. This, along with the growing focus of key players on the clinical trials for these cancer vaccines, is further likely to support the growing adoption of these vaccines among patients, thus supporting the growth of the market in the region.


Latin America and the Middle East & Africa are also growing 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 demand for the vaccine market in these regions.


List of Key Companies in Cancer Vaccines Market


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., GlaxoSmithKline plc, and Dendreon Pharmaceuticals LLC., among others. The dominance of these companies is owing to the rising focus of these players on launching clinical trials for cancer vaccine products. This, along with a growing focus on acquisitions and collaborations among the major players to strengthen its global presence, is also supporting the increasing share of these companies in the market.



  • For instance, In July 2023, the company and Moderna, Inc., initiated the phase III randomized clinical trial for the evaluation of V940 (mRNA-4157), an investigational personalized mRNA cancer vaccine, in combination with KEYTRUDA patients with resected high-risk melanoma.

  • In March 2024, Merck & Co., Inc., announced its plan to conduct clinical trials of a new investigational multi-valent HPV vaccine intended to provide broader protection against multiple HPV types and single dose regimen for GARDASIL 9 to evaluate the safety and efficacy compared to the approved three-dose regimen.


Similarly, other prominent players in the market, including Walvax Biotechnology Co., Ltd., and Synthaverse S.A., are continuously engaged in the production of these vaccines and are focusing on enhancing their distribution channels globally.  Through strategic partnerships and R&D investments, they aim to establish their footprints in emerging nations. Such initiatives are projected to propel the number of emerging players and are expected to register growth by 2032.


LIST OF KEY COMPANIES PROFILED:



  • Dendreon Pharmaceuticals LLC. (U.S.)

  • Serum Institute of India Pvt. Ltd. (India)

  • Merck & Co., Inc. (U.S.)

  • GlaxoSmithKline plc (U.K.)

  • Walvax Biotechnology Co., Ltd. (China)

  • Synthaverse S.A. (Poland)

  • Center of Molecular Immunology (Cuba)

  • Ferring B.V. (Switzerland)

  • Wantai BioPharm (China)

  • Dynavax Technologies Corporation (U.S.)


KEY INDUSTRY DEVELOPMENTS:



  • March 2024 – BostonGene, NEC, and Transgene expanded their collaboration for the Phase I/II Clinical Trial of Neoantigen Cancer Vaccine TG4050.

  • February 2024 – Moderna announced the initiation of a cancer vaccine trial in the U.K. The first U.K. patients received an experimental mRNA vaccine at Imperial College Healthcare NHS Trust.

  • November 2021 - Dendreon Pharmaceuticals LLC., a manufacturer of dendritic cell (D.C.) cancer vaccine, and Shoreline Biosciences announced CMC and a 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.

  • August 2020 - GlaxoSmithKline Korea faced indicted under Korea’s Monopoly Regulation and Fair Trade laws in relation to government tenders of HPV (Cervarix) and PCV (Synflorix) vaccines in 2018 and 2019.

  • June 2020 - Vaccine manufacturers Xiamen Innovax Biotech Co., Ltd. and Walvax Biotechnology Co., Ltd. committed to provide enough supply to immunize at least 84.0 million girls in Gavi countries, ahead of Global Vaccine Summit 2020.


REPORT COVERAGE


An Infographic Representation of Cancer Vaccines Market

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The global cancer vaccines market report provides a 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 and key industry developments such as mergers, partnerships, & acquisitions. 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.


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Report Scope & Segmentation






















































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate



CAGR of 17.0% from 2024-2032



Unit



Value (USD billion)



Segmentation


 


 


 


 


 



By Type



  • Preventive

  • Therapeutic



By Technology



  • Molecular-based

  • Vector-based

  • Cell-based



By Indication



  • Cervical Cancer

  • Bladder Cancer

  • Prostate Cancer

  • Lung Cancer

  • Others



By Distribution Channel



  • Hospitals

  • Government & Organization Supply

  • Others



By Region



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

    • U.S.

    • Canada



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

    • France

    • Italy

    • Spain

    • U.K.

    • Germany

    • Rest of Europe



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

    • China

    • Japan

    • India

    • Australia

    • Southeast Asia

    • Rest of Asia Pacific



  • Latin America (By Type, By Technology, By Indication, By Distribution Channel, By Country/Sub-region)

    • Brazil

    • Mexico

    • Rest of Latin America



  • Middle East & Africa (By Type, By Technology, By Indication, By Distribution Channel, By Country/Sub-region)

    • GCC

    • South Africa

    • Rest of Middle East & Africa)








Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 10.12 billion in 2023 and is projected to reach USD 42.58 billion by 2032.

Registering a CAGR of 17.0%, the market will exhibit steady growth in the forecast period.

The preventive segment dominated the market in 2023.

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., GlaxoSmithKline 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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