Cancer Vaccines Market worth $20.47 billion by 2032
The report "Cancer Vaccines Market by Type (Preventive, Therapeutic [Neoantigen]), Technology (Cell-based Vaccine, Recombinant), Indication (Cervical, Prostate), ROA (Intramuscular, Intravenous), End User (Hospitals, Speciality Clinics) - Global Forecast to 2032", is estimated to expand to a value of USD 20.47 billion by 2032 from USD 10.61 billion in 2024, with a significant CAGR of 8.6%. Some of the prominent factors driving the growth of market are the increase in the awareness and preventive healthcare measures and technological advancements in immunotherapy. Furthermore, rise in the investments into R&D of neoantigen cancer vaccines and an incline in cancer incidence globally are expected to provide lucrative market growth.
Browse 261 market data Tables and 37 Figures spread through 439 Pages and in-depth TOC on "Cancer Vaccines Market by Type (Preventive, Therapeutic [Neoantigen]), Technology (Cell-based Vaccine, Recombinant), Indication (Cervical, Prostate), ROA (Intramuscular, Intravenous), End User (Hospitals, Speciality Clinics) - Global Forecast to 2032"
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The preventive cancer vaccines segment accounted for the dominant share in 2023.
As per type, the market is divided into preventive and therapeutic vaccines (Neoantigen cancer vaccine and other cancer vaccine). The preventive cancer vaccines segment dominated the market in 2023. The dominance of the segment is owing to rising prevalence of cancer, increased public awareness and rise in government immunization programs. Therapeutic vaccines is anticipated to grow at a significant CAGR owing to rise in research and development such as neoantigen vaccines, increase in the number of collaborations and partnerships for innovations and increased funding in oncology R&D is enabling the development of next-generation vaccines.
Cervical cancer indication held the largest market share in 2023.
Based on indication, the global cancer vaccines market is divided into prostate cancer, cervical cancer, and other indications. The cervical cancer segment dominated the market in 2023. The dominance of the segment in cancer vaccines market, primarily due to the success of preventive vaccines like Gardasil and Cervarix, which target HPV—the primary cause of cervical cancer. High global vaccination rates, especially in developed regions like North America and Europe, have driven the segment dominance. Government initiatives, such as mandatory HPV vaccination programs in schools, further bolster uptake.
North America region dominated the cancer vaccines market.
As per region, the cancer vaccines market is further divided into North America, Europe, Asia Pacific, Latin America, Middle East Africa. North America is predicted to hold the biggest market share in the cancer vaccine market. Favourable regulatory frameworks and a focus on the development of personalized medicine drive the growth of the market in the region. Widespread use of HPV vaccines (Gardasil, Cervarix), robust government-funded immunization programs, and advanced clinical infrastructure. The U.S. leads with initiatives like the Vaccines for Children Program (VFC), ensuring high coverage among adolescents, while Canada’s universal HPV vaccination programs bolster adoption.
Prominent players operating in the cancer vaccines market include Merck & Co., Inc. (US), GSK plc (UK), Dendreon Pharmaceuticals LLC (US), JW CreaGene (Korea), Serum Institute of India Pvt. Ltd. (India), Verity Pharmaceuticals, Inc. (Canada), Wantai BioPharm (China), Vaccinogen (US) and Shanghai Zerun Biotechnology Co., Ltd. (China), among others.
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