Market Trends of Cancer Vaccines Industry
This section covers the major market trends shaping the Cancer Vaccines Market according to our research experts:
Recombinant Cancer Vaccines are Expected to a Hold Significant Market Share in the Cancer Vaccines Market
Recombinant cancer vaccines are expected to hold a significant share of the Cancer immunotherapy market during the forecast period owing to the rising demand for effective and innovative cancer vaccines and rising technological advancements. Recombinant vaccines are made by using yeast or bacteria to mass-produce a single viral or bacterial protein in vast amounts. The patient's immune system then produces antibodies to the disease agent's protein, protecting the patient from natural disease. Over the forecast period, it is anticipated that the increasing research and development studies in the sector would accelerate the studied segment's growth. According to the Frontiers article, in January 2022, intravenously administered therapeutic HSV-1 vaccination with VC2-OVA significantly decreased the colonization of tumor cells in the mice's lungs. Additionally, VC2-OVA increased mouse longevity and triggered a powerful preventive antitumor response, resulting in beneficial outcomes from the recombinant HSV-1 vaccination vector. Similarly, according to an NCBI study published in November 2021, recombinant EGF-CRM197 is a novel combined conjugate Therapeutic cancer vaccine that is safe and well tolerated in patients with advanced solid tumors. This finding supports the further clinical development of the vaccine.
According to an NCBI study published in January 2021, the pBI-11 DNA vaccine may be used with the tissue-antigen HPV vaccine (TA-HPV) in a heterologous prime-boost strategy to enhance. Therefore, this study suggests that the recombinant DNA vaccine is effective in preventing cervical cancer brought on by the HPV virus, which has contributed to the market's rapid expansion. Therefore, the expansion of the market sector is projected to be aided by the growing research and development efforts demonstrating the effectiveness of recombinant cancer vaccines.
North America is Expected to Dominate the Market Over the Forecast Period
The Cancer vaccines market in North America is expected to grow due to the high prevalence of cancer and the developed healthcare infrastructure in the region. The United States has a better healthcare infrastructure than most developed countries. According to the American Cancer Society report in 2020, the national spending on cancer care was USD 200.7 billion in 2020.
Also, the increasing prevalence of cancer in this region is expected to drive the demand for effective Cancer vaccines, thereby contributing to the growth of the market. For instance, according to the American Cancer Society's report in 2022, over 1.9 million new cancer cases are expected to be diagnosed in the United States in 2022. Additionally, 80% of the people diagnosed with cancer in the United States are 55 years of age or older, and 57% are 65 or older. Thus, due to the high prevalence of cancer and the highly affected geriatric population, the demand for effective therapeutics is also high in the country, which is expected to drive the growth in the studied market in the United States.
Furthermore, product launches, alliances, and mergers and acquisitions are expected to contribute to the growth of the market in North America. For instance, in December 2020, the United States Food and Drug Administration accepted Anixa Biosciences' Investigational New Drug (IND) application for their breast cancer vaccine funded by the United States Department of Defense. Although Triple Negative Breast Cancer is the primary target, this technology may also be able to stop other types of breast cancer in the future. Results showed that the vaccine candidate is well tolerated at all dose levels and produced responses as measured. Thus, the abovementioned factors are expected to increase market growth over the forecast period in this region.
