Report : Cancer Vaccines Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Technology (Dendritic Cells Cancer Vaccines, Recombinant Cancer Vaccines, Antigen Cancer Vaccines, Whole Cell Cancer Vaccines and Viral Vector Cancer Vaccines), Type (Preventive Cancer Vaccines and Therapeutic Cancer Vaccines), Indication (Cervical Cancer, Prostate Cancer and Other Indications), End User (Pediatrics and Adults) and Geography
Market for Recombinant Cancer Vaccines to Grow at Fastest CAGR during Forecast Period
According to our new market research study on "Cancer Vaccines Market to 2027 – Global Analysis and Forecast by Technology, Type, Indication, and End User," the market is expected to reach US$ 15,845.59 million by 2027 from US$ 4,568.82 million in 2019; it is estimated to grow at a CAGR of 17.2% from 2020 to 2027. The report highlights trends prevailing in the global cancer vaccines market, and the drivers and restraints pertaining to the market growth.
Based on technology, the cancer vaccines market is segmented into dendritic cells cancer vaccines, recombinant cancer vaccines, antigen cancer vaccines, whole cell cancer vaccines, and viral vector cancer vaccines. In 2019, the recombinant cancer vaccines segment accounted for the largest share of the market, and it is further estimated to register the highest CAGR during the forecast period. Growth of the market for this segment is attributed to the escalating demand for effective vaccines and rising prevalence of cancer. In addition, strategic activities by service providers such as collaborations, mergers, acquisitions, and expansions are further accelerating the growth of the market.
The global cancer vaccines market growth is mainly attributed to factors such as increasing incidence of cancer worldwide, and rising number of initiatives taken by healthcare research organizations and key cancer vaccines companies. However, a limited number of commercially available vaccines for treatment of cancer and higher cost of cancer vaccines hinder the market growth.
CSL Limited, ADURO BIOTECH INC., Astellas Pharma Inc., Merck & Co., Inc., Sanofi, Bristol-Myers Squibb Company, Glaxosmithkline Plc., Dendreon, ASTRAZENECA PLC., and OSE Immunotherapeutics are among the leading companies operating in the cancer vaccines market.
The Report Segments Global Cancer Vaccines Market as Follows: