Global Cancer Vaccines Market Report and Forecast 2024-2032

Global Cancer Vaccines Market Outlook

The global cancer vaccines market size was valued at USD 8 billion in 2023, driven by the increasing initiatives by pharma giants to develop the most effective cancer vaccine. The market size is anticipated to grow at a CAGR of 11.8% during the forecast period of 2024-2032 to achieve a value of USD 21.8 billion by 2032.

Global Cancer Vaccines Market Overview

The market is propelled by the researchers putting their maximum efforts into discovering innovative combinations and developing effective cancer vaccines for several types of cancers. The cancer vaccines market demand is driven by the increasing prevalence of cancer cases globally. In 2023, around 20 million new cases of cancer were diagnosed and nearly 10 million deaths were reported across the world. The cancer burden is poised to increase by approximately 60% over the next two decades, further straining health systems, people, and communities. The predicted global burden will increase to about 30 million new cancer cases by 2040, with high incidence in low- and middle-income countries.  As a result, industry leaders are coming together to collaborate, perform clinical trials, and develop cancer vaccine candidates.

Rising Adoption of Innovative Alternatives to Offer Precise Treatment

In August 2023, the National Health Service (NHS) England, United Kingdom’s publicly funded healthcare system rolled out an anti-cancer jab that can cut down treatment time for some by three-quarters. Atezolizumab (Tencentriq®), an immunotherapy drug has been approved by the Medicines and Healthcare products Regulatory Agency (MHRA) and takes around 7 minutes to administer intravenously, which is significantly lesser than the conventional time span.

The release of this injection is a piece of good news for both the patients and healthcare providers as it facilitates oncologists to provide faster treatment to patients and deliver it conveniently. This approach will likely contribute to increased awareness among patients and offer notable cancer vaccines market growth in the forecast period. The rapid adaptation of innovation by the NHS indicates the commitment to improve the efficiency of health services.

Strategic Collaborations between Market Players

In October 2023, BioNTech SE revealed that Autogene cevumeran (also known as BNT122, RO7198457), a therapeutic individualized cancer vaccine candidate for pancreatic ductal adenocarcinoma (PDAC) treatment was moved to Phase 2 trials after showing promising results in the Phase 1 clinical trials. In the Phase 2 trial, the efficacy is expected to be evaluated in 260 patients, in combination with anti-PD-L1 immune checkpoint inhibitor atezolizumab and chemotherapy. The combination treatment will be tested against the current standard-of-care chemotherapy (mFOLFIRINOX).

The candidate is being jointly developed by BioNTech and Genentech (a member of the Roche Group) and is based on mRNA-based individualized neoantigen-specific immunotherapy (iNeST) platform. The alliance of prominent companies to devise improved and personalized solutions is a major market trend poised to impact the cancer vaccines market share positively in the forecast period.

Global Cancer Vaccines Market Segmentation

Market Breakup by Technology

• Recombinant Cancer Vaccines

• Whole-Cell Cancer Vaccines

• Viral Vector and DNA Cancer Vaccines

• Other Technologies

Market Breakup by Vaccine Type

• Preventive Vaccine

• Therapeutic Vaccine

Market Breakup by Application

• Prostate Cancer

• Cervical Cancer

• Melanoma

• Bladder Cancer

• Other Applications

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Cancer Vaccines Market Regional Analysis

Geographically, North America is expected to dominate the market during the forecast period. In 2023, the region reported 609,280 cancer related deaths. According to the National Cancer Institute, an estimated 2 million people are expected to be diagnosed with cancer in the United States in 2024. By 2040, the number of people expected to be diagnosed with cancer will increase by 57%, and approximately affect 6.23 million people. As a result, there has been significant emphasis on developing effective solutions for the prevention of cancer associated mortalities.

Europe holds a notable cancer vaccines market share, owing to the presence of prominent academic and research institutions along with an extensive budget to promote research activities. The increasing collaborations between healthcare companies and academic institutions is expected to drive significant market growth in the region. The Asia-Pacific region is witnessing growth, which can be attributed to rising integration of modern technologies into the medical ecosystem. The increasing efforts by the governments of emerging economies to improve the infrastructure is another notable market trend in the region.

Global Cancer Vaccines Market: Competitor Landscape

In February 2023, Moderna, Inc. and Merck announced that the FDA granted a breakthrough therapy designation to mRNA-4157/V940 in combination with pembrolizumab (Keytruda) for the adjuvant treatment of patients with high-risk melanoma following complete resection.  The grant was based on the positive results from the phase 2b KEYNOTE-942 trial (NCT03897881). mRNA-4157/V940 is a novel investigational messenger ribonucleic acid (mRNA)-based personalized cancer vaccine made of a single synthetic mRNA coding for up to 34 neoantigens. It works by instigating a natural immune response and generating specific T cell responses.

The key features of the cancer vaccines market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Merck & Co., Inc.

• GlaxoSmithKline plc.

• Dendreon Pharmaceuticals LLC

• Bristol Myers Squibb Company

• AstraZeneca

• F. Hoffmann-La Roche Ltd.

• Novartis AG

• Sanofi

• Pfizer Inc.

• Gilead Sciences, Inc.

• Inovio Pharmaceuticals

• Bavarian Nordic

• CureVac SE

• Takeda Pharmaceutical Company Limited

• Cascadian Therapeutics 

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report