The global cancer vaccines market is expected to witness a CAGR of 16. 7% during the forecast period. Certain factors that are driving the market’s growth include the increasing number of cancer cases, rising investments and government funding in the development of cancer vaccines, and technological developments in cancer vaccines.
New York, April 09, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cancer Vaccines Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05881436/?utm_source=GNW
The incidence of cancer is increasing every year and it has been the major factor for the growth of the cancer vaccines market. Cancer damages the immune system, as cancer cells produce self-antigen. The cancer vaccines play a vital role in the maintenance of the immune system, as they are considered to be biological response modifiers. These cancer vaccines target the infectious agents that may cause cancer, through the production of the antibodies. Cancer vaccines are considered to be a new therapy and are not popular, as compared to the other alternative therapeutic drugs. However, cancer vaccines have shown great potential in both preventive and therapeutic ways. Moreover, the healthcare physicians are looking for alternate therapies, due to the huge burden of cancer cases and the side effects of the present therapies. Hence, the market for cancer vaccines is expected to grow at a high rate, during the forecast period.
However, in the expanding market for medical therapies, there are stringent regulatory policies in place, to ensure the safety of those therapies. The FDA review process takes twice as much as time as the European regulatory commissions’ review bodies. Hence, citizens in the countries where the review process is shorter benefit more than the citizens in countries with longer review processes and stringent regulations. The presence of stringent regulations is hindering the growth of this market.
Key Market Trends
Preventive Vaccines are Expected to a Hold Significant Market Share in the Treatment Method Segment
Preventive vaccines or prophylactic vaccines are the vaccines intended to prevent cancer in healthy people. These vaccines work by preventing infectious agents that cause or contribute to the development of cancer. These vaccines are similar to traditional vaccines that help prevent infectious diseases, such as polio and measles, by protecting the body against infections. Most of the preventive vaccines stimulate the production of antibodies, which bind to specific targeted microbes and block their ability to cause infection.
North America Dominates the Market and is also Expected to do so during the Forecast Period
This is due to the high prevalence of cancer, along with developed healthcare infrastructure in the region. According to the National Cancer Institute, preventive vaccines were approved to treat cancers, by the use of vaccines, namely Human papillomavirus (HPV) vaccines and the Hepatitis B virus (HBV). However, there are many other vaccines that are approved by the FDA, for the prevention of cancer. In April 2010, the first cancer treatment vaccine, called sipuleucel-T (Provenge), was approved by the FDA. This vaccine was approved to be used on men with metastatic prostate cancer. It was designed to stimulate an immune response to prostatic acid phosphatase (PAP), which is an antigen found in most prostate cancer cells. Moreover, in October 2015, the first oncolytic virus therapy, called talimogene laherparepvec (T-VEC, or Imlygic), was also approved by the FDA. This vaccine is used for the treatment of metastatic melanoma, which cannot be surgically removed.
The global cancer vaccines market is highly competitive and consists of a few major players. Companies, like Aduro BioTech Inc., Astellas Pharma Inc., AstraZeneca PLC, Bristol-Myers Squibb, Dendreon, GlaxoSmithKline, Merck & Co. Inc., OSE Immunotherapeutics, Sanofi, and Welland Medical Ltd, among others, hold substantial shares in the cancer vaccines market.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05881436/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Intl: +1 339-368-6001