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The cancer vaccines market size has grown rapidly in recent years. It will grow from $7.22 billion in 2023 to $8.25 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. Let’s delve into the factors fueling this growth and what the forecast holds for the future.

Rising Cancer Cases Drive Demand For Cancer Vaccines

• The rise in cancer cases across the globe contributes to market growth.
• Globally, lung, prostate, bowel, and female breast cancer account for 43% of all new cancer cases.
• The anticipated increase in cancer incidence rates globally boosts the demand for cancer vaccines.
• Major companies operating in the market include GlaxoSmithKline PLC, Merck & Co. Inc., and AstraZeneca PLC.

Quadrivalent Vaccines Gain Traction In The Cancer Vaccines Market

• Major companies focus on introducing quadrivalent vaccines to maximize revenue.
• Serum Institute of India launched CERVAVAC, the first made-in-India cervical cancer vaccine, targeting HPV types responsible for at least 70% of cervical cancers.
• Quadrivalent vaccines are designed to protect against four different strains or types of a specific virus or bacteria.

Read More On The Cancer Vaccines Market Report 2024 – https://www.thebusinessresearchcompany.com/report/cancer-vaccine-global-market-report

NEC OncoImmunity Strengthens Cancer Therapy Portfolio

• In March 2022, NEC OncoImmunity acquired neoantigen vaccine development assets from Vaximm AG, enhancing its AI-optimized personalized cancer therapies.
• Vaximm AG manufactures vaccines and T-cell immunotherapies for cancer patients.

Segmentation Insights
The cancer vaccines market is segmented by type, technology, cancer type, and end-user:

1. By Type: Preventive Cancer Vaccines, Therapeutic Cancer Vaccines
2. By Technology: Dendritic Cells (DC) Cancer Vaccines, Recombinant Cancer Vaccines, Antigen/Adjuvant Cancer Vaccines, Whole Cell Cancer Vaccines, Viral Vector & DNA Cancer Vaccines
3. By Cancer Type: Prostate, Cervical, Colorectal, Throat, Other Cancer Types
4. By End-User: Cancer Treatment Centers, Research Institutes

North America Leads the Way

• North America dominated the cancer vaccines market in 2023.

Forecasting the Future
The cancer vaccines market is expected to witness significant growth in the next few years. It will reach $13.89 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. Here’s what drives this forecasted growth:

• Combination therapies with cancer vaccines.
• Increased investment from pharmaceutical companies.
• Emerging biomarkers and personalized vaccines.
• Expanding vaccination programs.

Emerging Trends
The forecast period also brings forth several trends:

• Advancements in immunology and adjuvant therapies.
• Diversification of indications and enhanced patient access.
• Collaborative research initiatives and neoantigen-based vaccines.
• Therapeutic cancer vaccines pave the way for a promising future.

Final Thoughts
The landscape of cancer vaccines is evolving rapidly, driven by advancements in technology, rising cancer cases, and strategic collaborations among key players. As the market continues to expand, innovations in preventive and therapeutic vaccines hold the promise of revolutionizing cancer treatment and prevention globally. The forecasted growth underscores the urgency and importance of continued research and investment in this critical area of healthcare. As we navigate through the complexities of cancer treatment, the development and adoption of vaccines stand as beacons of hope in our collective fight against this formidable disease.

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