Global Cancer Vaccines Market - Forecasts from 2022 to 2027
The global cancer vaccine market is expected to grow at a compound annual growth rate of 13.08% over the forecast period to reach a market size of US$13.068 billion in 2027, from US$5.527 billion in 2020. Cancer vaccines are used to provide treatment or protection from cancer, which classifies them into prevention and treatment cancer vaccines. They are a type of immunotherapy that destroys cancer cells, stops the growth of tumors, and also helps in preventing any such cases in the body in the future.
The increased cases of cancer globally due to unhealthy living practises is one of the prime causes behind the growth of the cancer vaccine market. Also, the increasing research on inherited cancer and a definitive result in the field are expected to hold a large market for the growth of cancer vaccines. Cancer vaccines have been approved for Human Papilloma Virus (HPV) and Hepatitis B (HBV) by the FDA, which can provide significant growth to the market in the coming years.
Cancer vaccines are known for causing severe after-symptoms in the body, which may result in a constraint in the growth of the cancer vaccine market. Also, the increasing research for natural, plant-based, Ayurveda therapy for the treatment of cancer is expected to create some hurdles for the growth of the market in the future. The loss of immunity with age in the elderly population can also serve as a threat to the market's growth due to increased chances of low immune response after the vaccination. Besides that, the high price associated with cancer vaccines can also hamper their market growth.
The change in lifestyle habits, followed by the increasing consumption of unhealthy products like tobacco, cigarettes, and exposure to radiation and viruses, has been increasing the global number of cancer patients worldwide. According to the WHO, cancer is the leading cause of death worldwide and accounted for nearly 10 million deaths in 2020, which was higher than the 2018 data of 9.6 million deaths. Of these, lung cancer caused around 1.8 million deaths, cancer in the colon and rectum was responsible for 935,000 deaths, liver cancer caused 830,000 deaths, stomach cancer caused around 769,000 deaths, and breast cancer caused 685,000 deaths. The increasing rate of cancer mortality has put a major focus on the development of cancer vaccines.
Certain types of cancer seem to run in families, which can be due to the same exposure that increases cancer risk, like smoking and family running obesity, But, in some cases, like inherited cancer, an abnormal gene is passed along from one generation to another that can lead to cancer. According to the American Cancer Society, around 5%-10% of all cancers result directly from mutations. Increasing research and a definitive result in this field are expected to hold growth prospects for the development of cancer vaccines in the upcoming years.
Increasingly Elderly Population: One of the major restraints on the cancer vaccine market is the growing elderly population, which is accompanied by low immunity in people. This is expected to serve as a constraint for the market's growth as a weak immune system hampers the immune response of the body and thus reduces the chances of an effective response by the cancer vaccines in the body. UN data, suggests that by 2050, around 1 in 6 people in the world will be over the age of 65, from 1 in 11 in 2019.
Cancer Treatment Vaccines can cause various side effects, which depend on various factors like the type of cancer, how advanced it is the type of vaccine treatment, the dosage, etc. The National Cancer Institute has laid down a list of side effects like fatigue, headache, trouble breathing, weakness, chills, fever, low and high blood pressure, and certain allergic reactions as well. Also, Sipuleucel-T can trigger strokes in human bodies. Fear of such side effects, along with their severity, may hamper the growth of the cancer vaccine market.
This is expected to pave the way for Ayurveda and natural therapies in cancer treatment, which could pose a threat to the growth of the cancer vaccine market. Although there is no strict evidence or approval that Ayurveda as a system of medicine can treat cancer, researchers have found that yoga, meditation, and Ayurveda approaches are helpful as complementary therapies in cancer treatment. Besides that, the National Center for Biotechnology Institution that comes under the U.S. National Library of Medicine has laid down a list of certain plants like Flacourtia romantchi, Moringa oleifera, Ficus bengalensis, Semecarpus Anacardium, etc. that have scientific evidence of anticancer properties.
The COVID-19 Pandemic's Impact on the Cancer Vaccine Market: With the onset of the coronavirus, the prime motive of governments across the globe shifted towards controlling the spread of the COVID virus. This severely hampered the growth of the cancer vaccine, market as the healthcare units, pharmaceutical companies, and their research and development work shifted towards the development of COVIDvaccine and this created a major restraint for the growth of cancer vaccine development.
Dendritic Cells (DC) Cancer Vaccines
Recombinant Cancer Vaccines
Antigen/Adjuvant Cancer Vaccines
Whole-Cell Cancer Vaccines
Viral VectoR&DNA Cancer Vaccines
Preventive Cancer Vaccines
Therapeutic Cancer Vaccines
Middle East and Africa