AI Assisted Medicine is fastest growing segment fueling the growth of Cancer Vaccines Market


Cancer vaccines help boost the body's natural defenses to recognize and fight cancer cells. They activate and aid the immune system to prevent or slow the growth of cancers like cervical cancer, prostate cancer etc. With the increasing prevalence of different types of cancers, cancer vaccines are gaining prominence as an effective preventive measure.

The global Cancer Vaccines Market is estimated to be valued at US$ 1.9 Bn or billion in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights

Market key trends:

One of the major trends driving the growth of the cancer vaccines market is the increasing focus on personalized cancer vaccines. Conventional cancer vaccines are designed to target common mutations found in many cancer patients. However, with advanced technologies like whole genome sequencing, it has now become possible to design vaccines targeted towards the specific mutations found in an individual patient's tumor. Such personalized cancer vaccines have higher efficacy and are emerging as a promising approach in cancer immunotherapy.

Segment Analysis

Content: The global cancer vaccines market is segmented into preventive cancer vaccines and therapeutic cancer vaccines. The preventive cancer vaccines segment currently dominates the market due to increasing awareness about HPV vaccines to prevent cervical cancer. Preventive HPV vaccines inhibit infection by HPV types 16 and 18 that are responsible for 70% of cervical cancer cases worldwide.

Key Takeaways

Market size: The global cancer vaccines market is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing awareness about cancer prevention through vaccines and rising government initiatives for immunization programs.

Regional analysis: North America currently dominates the cancer vaccines market due to high adoption of HPV vaccines in the US and Canada. Asia Pacific is expected to be the fastest growing region owing to growing healthcare expenditure and improving standard of living in developing Asian countries.

Key players: Key players operating in the cancer vaccines market are Astrazeneca Plc. (Medimmune, LLC.), Glaxosmithkline Plc., Merck & Co., Inc., Sanofi Pasteur, Aduro BioTech Inc., Sanpower Group, Astellas Pharma Inc., CSL Limited, Pfizer Inc., and Serum Institute of India Pvt. Ltd. GSK's bivalent HPV vaccine, Cervarix, leads the HPV vaccines segment.

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