Cancer Vaccines Market Size Envisioned at USD 30.16 Billion by 2033

Cancer Vaccines Market Size, Trends and Share Report (2024 - 2033)

The cancer vaccines market was valued at US$ 10.21 billion in 2023 and is predicted to reach US$ 30.16 billion by the end of 2033, representing an impressive CAGR of 11.44% from 2024 to 2033. The increasing prevalence of cancer, research and development and continuous efforts taken by governments and key stakeholders drive the market's growth.

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Key Takeaways:

• North America has held the largest revenue share of 38.40% in 2023.
• Asia Pacific is expected to witness the fastest growth during the forecast period of 2024-2033.
• By type, the preventive segment has held a major revenue share of 55% in 2023.
• By type, the therapeutics segment is expected to grow at the fastest rate during the forecast period.
• By indication, the cervical cancer segment has contributed more than 31% in 2023.
• By distribution channel, the hospitals segment dominated the market in 2023 and will continue to dominate during the forecast period.

Market Overview/Industry at a Glance

The cancer vaccines market deals with research & development, testing, manufacturing and distribution of cancer vaccines in the healthcare sector. Cancer vaccines are none other than immunotherapies used as a treatment procedure to boost the immune system of cancer patients for fighting against cancer. There are two types of cancer vaccines: therapeutic and preventive. Currently, HPV vaccines and hepatitis B vaccines are two preventive vaccines approved, while prostate cancer vaccines, bladder cancer vaccines, and melanoma vaccines are some of the therapeutic vaccines that are approved by the Food and Drug Administration.

One of the major reasons for the growth of the market is the increased number of cancer patients due to different factors like lifestyle choices, environmental pollution, genetics, aging, substance abuse, chemical exposure, exposure to sun/UV radiation, and so on. Apart from this, major key players and researchers are continuously making efforts to improve the existing vaccines and develop new vaccines for preventive majors in which the governments are equally participating by providing funds, facilities, and proper infrastructure.

Top Companies in the Cancer Vaccines Market

• Generex Biotechnology Corporation
• Immunocellular Therapeutics, Ltd
• Vaccinogen, Inc.
• GlaxoSmithKline plc (GSK)
• Advaxis Inc.
• Dynavax Technologies Corporation
• Merck & Co., Inc.
• SANPOWER GROUP CO. LTD. (DENDEREON CORPORATION)
• UbiVac
• Amgen Inc.

GlaxoSmithKline plc (GSK) Pipeline

Merck & Co. Inc. Pipeline 

Increased Cases of Cancer Patients Drive the Market Growth

In recent years, the number of cancer patients has grown tremendously. Not only the number but also the types of cancers have increased. Certain factors like genetics, exposure to UV radiation, and occupational hazards have been the major contributors to an increased number of cancer patients. However, factors such as increased rates of obesity, processed food consumption, pollution, unhealthy lifestyles, substance abuse, and lack of knowledge & awareness are all contributing to the increased number of cancer patients.

• According to Cancer Research UK, there are more than 200 types of cancers sub-divided into five categories: carcinoma, sarcoma, leukemia, lymphoma& myeloma, and brain & spinal cord cancers.
• According to the World Health Organization, cancer is the second leading cause of death worldwide, with 10 million deaths and 20 million new cases. It is estimated that the number will rise by 60% in the next two decades, and by 20240, the number of cancer patients will rise up to 30 million.

Tumor Heterogeneity Can Hinder Cancer Vaccines Market

Tumor heterogeneity is a crucial factor that can negatively impact the growth of the cancer vaccines market. Tumor heterogeneity says that the same or different tumors can show different variations in terms of morphology and genetics in the case of different patients. Due to this, it becomes difficult to produce antigens for vaccines, as one antigen may work differently in different patients. This reduces the efficiency of the vaccines, and more sophisticated tools will be needed to meet the individual needs of patients. It can also lead to treatment failure and reoccurrence of cancer.

Future of Cancer Vaccines Market: Personalized Vaccines

A complete treatment strategy that includes radiation, chemotherapy and surgery is beginning to take into account personalized cancer vaccinations. These vaccinations are also being explored in conjunction with other immunotherapy techniques, such as checkpoint inhibitors, in an effort to maximize the immune response's overall efficacy. The results for individuals with different forms of cancer may be improved by more effective treatment procedures that result from this integrated approach.

For instance,

• In May 2024, a new mRNA vaccine was tested by scientists, which triggers an immune response against a deadly brain tumor. The vaccine was developed by extracting RNA from a patient suffering from glioblastoma. This breakthrough will act as a blueprint for the development of more personalized next-generation cancer vaccines.
• In March 2024, Transgene, NEC Corporation, and BostonGene Corporation announced the expansion of their collaboration for the randomized Phase I/II trial of TG4050 - an individualized therapeutic vaccine for patients with head and neck cancers. BostonGene will provide high-throughput sequencing services and perform tumor molecular profiling and microenvironment analysis, helping to enable a fast turnaround of next-generation sequencing (NGS) data and comprehensive profiling of patient immune contexture.

Technological and Genomic Sequencing Advancements

The development of cancer vaccines is heavily reliant on machine learning and artificial intelligence (AI). With the aid of these technologies, it is possible to forecast which tumor antigens would most likely trigger a successful immune response and evaluate enormous volumes of genetic data. In order to guarantee that every patient receives the most effective vaccination based on their particular tumor profile, AI algorithms may also aid in enhancing vaccine design and tailoring treatment strategies. Significant progress in genome sequencing technology is necessary for the creation of cancer vaccines. Researchers can detect precise alterations in a tumor's DNA that can be targeted by vaccination with speed and accuracy thanks to high-throughput sequencing. This has the dual benefits of improving vaccine accuracy and hastening the vaccine development process. A wider range of tailored cancer vaccine applications is made possible by the increasing speed, affordability, and accessibility of genome sequencing.

Report Highlights

Type Insights

Based on type insights, the preventive segment dominated the cancer vaccines market in 2023. The majority of vaccines are developed to prevent disease occurrence. It is done by developing inactivated vaccines, live-attenuated vaccines, mRNA vaccines, viral vector vaccines, and so on. Preventive vaccines are highly recommended as they are useful in boosting the immune system even before the development of actual disease. Providing preventive vaccines can reduce the number of cancer cases. It not only improves overall health outcomes but plays a crucial role in reducing the financial burden of the healthcare industry. The use of preventive vaccines can be increased by creative awareness among individuals via campaigns and government initiatives, especially in underdeveloped countries and rural areas.

For instance,

• In December 2023, the Family Planning Association of India (FPAI) launched the nationwide HPV vaccination campaign called “Race to Erase Cervical Cancer.” Through this program, the Indian government will educate individuals about cervical cancer and provide a vaccine developed by the Serum Institute of India.

On the other hand, the therapeutics segment is expected to grow with the fastest CAGR during the forecast period. Therapeutic vaccines are given after the occurrence of cancer, and they are given for treatment rather than prevention. The major cause of the increasing demand for therapeutic vaccines is the increasing number of cancer patients. Various factors contribute to the growing number. The geriatric population is also a major contributor to the increased number of cancer patients, as the risk of developing cancer is high in old age. Another factor for growth is the development of personalized vaccines, which can be developed based on the genetic material and other lifestyle factors of individuals. Developing such personalized vaccines provides better results by increasing immune response.

• In May 2024, with the FDA's clearance of its mRNA therapeutic cancer vaccine, WGc-043, WestGene, a China-based biotech firm focused on mRNA technology, announced a significant milestone. This historic accomplishment is the first-ever approval of an mRNA therapeutic cancer vaccine linked to the Epstein-Barr (EB) virus worldwide. Patients with advanced EB virus-related tumors now have new hope thanks to the U.S. FDA's clearance of WGc-043, a significant advancement in cancer treatment.

Some of the FDA Approved Cancer Vaccines

Indication Insights

Based on indication type, the cervical cancer segment dominated the cancer vaccines market in 2023. Cervical cancer is among the top causes of death. The cases of cervical cancer are majorly seen in low and middle-income countries. These countries have people who lack awareness about cervical cancer vaccines, and many people do not have access to vaccines, screening and treatment procedures due to economic and social determinants of health.

• According to the World Health Organization, cervical cancer is the 4th most common cancer in women across the globe, and in 2022, 660,000 new cases were registered. 350,000 deaths were registered in 2022, which occurred due to cervical cancer. There are 6 HPV vaccines available globally.

Distribution Channel Insights

The hospitals segment dominated the cancer vaccines market in 2023 and will continue to dominate during the forecast period. Hospitals are the most common place where vaccines are provided and diagnosis of cancer is conducted. People visit hospitals to gain knowledge, prevention, screening, treatment and further monitoring of cancer. Hospitals have a lot of facilities, which can help in conducting multiple treatments under the guidance of specialized healthcare professionals. Better safety, sanitation, expertise and minimum risk are involved in hospital-based vaccination and treatment.

Regional Insights/ Growth of the Market in Different Regions

North America dominated the cancer vaccines market in 2023. It is an advanced region when it comes to research and development and technological advancements. These two factors, along with government support, play a crucial role in the dominance. Apart from this, the U.S. and Canada are major contributors to the growth. The U.S. is not only known for clinical research and better technology, but it also has the highest number of cancer patients. According to the National Cancer Institute, nearly 50% of all deaths are due to cancer. The institute also predicted that around 2.0 million new cases of cancer will be observed in the U.S. The U.S. government is also focused on developing new vaccines and funding research projects.

For instance,

• In September 2023, $25 million in federal funding was awarded to a collaborative group of scientists from Yale, the University of Georgia, and Emory University to create an mRNA cancer vaccine. Using mRNA, the scientists hope to coordinate immune system reactions to offer tailored protection against foreign invaders.

Asia Pacific is expected to grow at the fastest rate during the forecast period. According to the estimation of the WHO, Asia is the largest continent with the highest number of cancer patients, and by 2045, the number of cancer patients is estimated to grow by 64.5%. Countries like China, India, Japan, and South Korea majorly contribute to the growth of the cancer vaccines market in the Asia Pacific region. Continuously, new clinical trials are launched to develop and trial new vaccines.

In India, one of the most common causes of death among women is cervical cancer, and the Government of India has taken various initiatives to tackle this issue. The Union Budget 2024–25 encourages frontline healthcare workers to receive insurance and promotes cervical cancer vaccination. February 1, 2024, saw the release of the interim Union Budget 2024–2025, which included a sum of Rs 87,656.90 crore for the Department of Health and Family Welfare.

• The Serum Institute of India is happy to announce the first-ever made-in-India qHPV vaccine, called "CERVAVAC," in New Delhi on January 24, 2023, in honor of National Girl Child Day and Cervical Cancer Awareness Month. The result of a collaboration between the Bill and Melinda Gates Foundation, the Department of Biotechnology (DBT), the Biotechnology Industry Research Assistance Council (BIRAC), and the Serum Institute of India (SII) is the first domestically produced quadrivalent human papillomavirus vaccine (qHPV), known as "CERVAVAC."

Recent Developments

• In February 2024, Vladimir Putin, the president of Russia, declared that Russian researchers are almost finished creating cancer vaccinations, which might completely change how cancer is treated across the world. At a seminar on future technologies in Moscow, he presented this achievement and expressed hope for its successful use in personalized therapy.
• In January 2024, Doctors from Surrey, Hampshire, and Australia are teaming up to research a "groundbreaking" vaccination to treat early bowel cancer. In two years, the jab might be permitted for use, according to Dr. Tony Dhillon, head investigator of the experiment and consultant oncologist at the Royal Surrey NHS Foundation Trust. The Queen Elizabeth Hospital in Adelaide, Royal Surrey, and the University of Southampton's Cancer Research UK Southampton clinical trials center will collaborate to conduct the experiment.
• In October 2023, Nigeria incorporated the human papillomavirus (HPV) vaccine into its regular immunization program with the goal of immunizing 7.7 million girls in the continent, making it the biggest HPV vaccination round ever.

Segments Covered in the Report

By Type

• Preventive Cancer Vaccines
• Therapeutic Cancer Vaccines
• Others

By Indication

• Cervical Cancer
• Prostate Cancer
• Other Indications

By Technology

• Recombinant Cancer Vaccines
• Viral Vector and DNA Cancer Vaccines
• Whole-cell Cancer Vaccines
• Others

By Distribution Channel

• Hospitals
• Government Suppliers

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa