Issue: Exclusive Online Content, Posted Date: 1/13/2015
Global Cancer Vaccine Market to Reach $4.3 Billion in 2019
announced in its new report, Cancer
Vaccines: Technologies and Global Markets, the global market for
cancer vaccines is expected to grow to $4.3 billion by 2019, with a 5-year
compound annual growth rate (CAGR) of 1.3%. Technological advancements, new
product launches, and unmet treatment needs are predicted to drive consistent
growth in this market for the foreseeable future.
Widely recognized as one of the most
profitable areas of drug development, cancer vaccines are attracting increasing
attention as funding for other areas of therapeutic research and development
dry up. Moreover, cancer vaccines, which are given to a healthy person to
protect against cancer-causing viruses, are seen as feasible options for
treating a number of cancers that presently do not have effective treatments.
The market for cancer vaccines is broadly
categorized into therapeutic cancer vaccines and prophylactic cancer vaccines.
Therapeutic vaccines are intended to treat existing cancer while prophylactic
or preventive vaccines are used to impede cancer from developing in healthy
The United States market, far and away the
largest regional segment, is anticipated to reach $2 billion in 2019,
registering a steady CAGR of 1.9%. Meanwhile, Europe, which was valued at just
$1 billion in 2013, is expected to grow to more than $1.2 billion and register
a healthy 3.5% CAGR. Advancement in both regions is connected to improving
access to healthcare and a developing R&D funding environment.
However, the emerging markets, which
comprises India, China, and Japan, is expected to decline from more than $1.3
billion in 2013 to $1 billion by the end of 2019 and register a dismal CAGR of
-2%. Suspension of the recommendation for the use of Human Papilloma Virus
(HPV) vaccines in Japan is the major factor restricting sales in this region.
“Approval of Provenge, a prostate cancer
vaccine developed by Dendreon Corporation in April 2010, has provided a boost
to cancer vaccine research," said BCC Research pharmaceutical analyst
Shalini Shahani Dewan. "Though the market is witnessing moderate growth,
there is huge prospect in the field of cancer vaccine research due to highly
unmet needs in therapeutics. Increasingly, companies are seeing opportunities
to address the dearth of treatment options in this market. As result, many new
players are poised to enter in the field of cancer prevention and
Technologies and Global Markets provides an overview of
the global cancer vaccine market and related technologies. It includes analyses
of global market trends, with data from 2013, estimates for 2014, and
projections of CAGRs through 2019.
BCC Research publishes market research
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Cancer Vaccines: Technologies and Global
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