Cancer Vaccines Market Highlights

• The global cancer vaccines market is projected to reach USD 34.4 billion by 2032, growing at a CAGR of 14.7% from 2024 to 2032
• According to the World Health Organization (WHO), in 2022, an estimated 20 million new cancer cases were reported globally, along with 9.7 million deaths. Approximately 53.5 million people were living within five years of a cancer diagnosis. Around 1 in 5 individuals are expected to develop cancer during their lifetime, with approximately 1 in 9 men and 1 in 12 women succumbing to the disease
• North America accounted for approximately USD 3.66 billion of the cancer vaccines market value in 2023
• The Asia-Pacific cancer vaccines market is expected to grow at a CAGR of over 15.5% from 2024 to 2032
• Preventive cancer vaccines made up 54% of the market share in 2023
• The cervical cancer sub-segment represented 30% of the market share based on indication type in 2023
• Recombinant cancer vaccines technology captured 56% of the market share in 2023
• Increased focus on preventing cancers caused by viruses like HPV and Hepatitis B is the cancer vaccines market trend that fuels the industry demand

Cancer vaccines are a type of immunotherapy designed to either prevent or treat cancer by stimulating the body's immune system. Preventive vaccines target viruses linked to cancer, such as the human papillomavirus (HPV), to reduce cancer risk. Therapeutic cancer vaccines aim to treat existing cancer by enhancing the immune system's ability to identify and destroy cancer cells. These vaccines are often tailored to target specific tumor antigens, offering a personalized approach to cancer treatment.

Solving Kids Cancer Organization states that the vaccine assists the immune system in identifying, targeting, and eliminating the cancer cells causing illness. Additionally, it is used to prevent the spread and recurrence of cancer cells. Currently, the FDA has approved only three cancer treatment vaccines in the U.S. that are BCG, Sipuleucel-T, and Talimogene laherparepvec (T-VEC).

Global Cancer Vaccines Market Dynamics

Market Drivers

• Rising prevalence of cancer globally increases demand for innovative treatment solutions
• Advancements in immunotherapy technologies enhance vaccine efficacy and development
• Growing awareness and adoption of preventive healthcare initiatives boost cancer vaccine uptake

Market Restraints

• High costs associated with research, development, and production limit accessibility
• Regulatory hurdles and lengthy approval processes delay market entry of new vaccines
• Limited efficacy in certain cancer types poses challenges to widespread adoption

Market Opportunities

• Expansion into emerging markets with rising healthcare infrastructure offers growth potential
• Development of combination therapies integrating cancer vaccines with existing treatments
• Increasing focus on personalized medicine fosters innovation in targeted cancer vaccines

Cancer Vaccines Market Report Coverage

Cancer Vaccines Market Insights

The global increase in cancer cases has created a critical need for innovative treatment approaches. For instance, as per National Institute of Health, in 2024, approximately 2,001,140 new cancer cases are expected to be diagnosed in the United States, with 611,720 deaths attributed to the disease. Among men, prostate, lung, and colorectal cancers will account for an estimated 48% of all diagnoses, while breast, lung, and colorectal cancers will comprise 51% of new cancer cases among women. The cancer mortality rate remains higher in men (173.2 per 100,000) compared to women (126.4 per 100,000). This growing disease burden drives investments and adoption of cancer vaccine technologies.

Innovations in immunotherapy, and novel antigen discovery methods, have significantly enhanced the efficacy of cancer vaccines. These advancements enable the development of personalized and targeted therapies, improving patient outcomes. For instance, in May 2022, ImmunityBio, Inc. announced the submission of a Biologics License Application for a new immunotherapy combining an IL-15 super agonist with BCG to treat bladder cancer. Such technological progress is accelerating research and commercialization in the cancer vaccine market.

The research and development process for cancer vaccines is complex and expensive, often requiring significant investment in clinical trials and advanced manufacturing facilities. These costs make vaccines less accessible, especially in low-income regions. Additionally, high prices can limit widespread adoption despite clinical benefits.

Emerging economies with improving healthcare infrastructure present a significant growth opportunity for cancer vaccines. Increasing healthcare awareness, and supportive government initiatives in these regions foster vaccine accessibility. For instance, government initiatives like the Ayushman Bharat scheme and the National Digital Health Mission (NDHM) have greatly improved healthcare accessibility and infrastructure, as highlighted in the Indian healthcare sector report for 2024. Additionally, the Indian government plans to launch a credit incentive program valued at Rs. 50,000 crore (US$ 6.8 billion) to strengthen the nation’s healthcare infrastructure. Expanding into these markets allows companies to tap into a large, underserved population base.

Cancer Vaccines Market Segmentation

The worldwide market for cancer vaccines is split based on vaccine type, indication type, technology type, distribution channel, and geography.

Cancer Vaccines Market By Vaccine Type

• Preventive Cancer Vaccines
• Therapeutic Cancer Vaccines
• Others

According to the cancer vaccines industry analysis, preventive cancer vaccines lead industry due to their ability to reduce the risk of cancer caused by viral infections, such as HPV and hepatitis B. These vaccines, which target specific cancer-causing viruses, are widely used for cancer prevention, particularly in younger populations. Their effectiveness in reducing cancer incidence and the focus on early prevention contribute to their dominance in the market. Additionally, in October 2024, researchers at the University of Oxford in the UK received funding to develop the world’s first ovarian cancer preventive vaccine. This funding highlights the increasing emphasis and investment in pioneering research for preventive cancer vaccines.

Cancer Vaccines Market By Indication Type

• Bladder Cancer
• Prostate Cancer
• Cervical Cancer
• Melanoma
• Other

According to the cancer vaccines industry analysis, cervical cancer dominates the market due to the widespread use of the HPV vaccine, which effectively prevents the majority of cervical cancer cases. The high prevalence of HPV-related cervical cancer and the vaccine’s proven efficacy in reducing incidence contribute to its market leadership. For instance, National Institute of Health states that more than 95% of cervical cancer cases are linked to high-risk HPV, while over 90% of anal cancer, 70% of vaginal and vulvar cancers, 60% of oropharyngeal cancer, and 60% of penile cancer cases are also associated with high-risk HPV. With growing awareness and vaccination campaigns, cervical cancer vaccines continue to play a central role in the cancer vaccines industry.

Cancer Vaccines Market By Technology Type

• Viral Vector and DNA Cancer Vaccines
• Whole-cell Cancer Vaccines
• Recombinant Cancer Vaccines
• Other Technologies

According to the cancer vaccines market forecast, recombinant cancer vaccine technology dominates industry due to its ability to produce vaccines using genetically engineered proteins that mimic tumor antigens. This approach enhances the immune system's recognition and targeting of cancer cells with high precision. As it allows for the development of personalized and effective vaccines, recombinant technology plays a pivotal role in advancing cancer immunotherapy.

Cancer Vaccines Market By Distribution Channel

• Hospitals
• Government Suppliers

According to the cancer vaccines market forecast, hospitals play a key role as the primary distribution channel due to their ability to provide specialized care and administer complex treatments. They offer a controlled environment for vaccine storage and administration, ensuring patient safety and proper monitoring. Additionally, hospitals are often the first point of contact for cancer patients, making them a crucial hub for vaccine delivery. As cancer vaccines become more integrated into treatment regimens, hospitals remain central in driving accessibility and adoption.

Cancer Vaccines Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Cancer Vaccines Market Regional Analysis

For several reasons, North America dominates the cancer vaccines market due to its advanced healthcare infrastructure, high healthcare spending, and strong research and development capabilities. For instance, in October 2022, Anxia Biosciences initiated a Phase Ib clinical trial for its preventive breast cancer vaccine, with funding provided by a grant from the United States Department of Defense. The region’s well-established regulatory frameworks and early adoption of innovative treatments further contribute to its leadership. Additionally, high awareness levels and government-backed cancer prevention programs fuel market growth in North America. For instance, U.S. Embassy and Consulates in India states that the U.S. government, through USAID, has made an unprecedented commitment of at least $1.58 billion to Gavi, the Vaccine Alliance, to support global efforts in expanding vaccine coverage, including HPV vaccines, in low- and middle-income countries, helping protect millions of women and girls from cervical cancer.

Asia-Pacific is experiencing rapid growth in the cancer vaccines market, driven by increasing cancer prevalence and improving healthcare systems. For instance, National Centre for Disease Informatics and Research states that in 2022, India was projected to have 1,461,427 new cancer cases, with a crude incidence rate of 100.4 per 100,000 individuals. Around one in nine people in India is expected to be diagnosed with cancer at some point in their lifetime. Rising awareness of cancer prevention and the growing research and development of vaccines are key growth factors in the region. For instance, in September 2022, the Union Minister of State for Science and Technology unveiled "CERVAVAC," India's indigenously developed vaccine aimed at preventing cervical cancer. With expanding healthcare infrastructure and government support, the Asia-Pacific market is poised for significant expansion in the coming years.

Cancer Vaccines Market Players

Some of the top cancer vaccines companies offered in our report include Sanofi, Moderna, Inc., Dynavax Technologies, AstraZeneca, Ferring B.V., Amgen, Inc., GSK plc, Bristol-Myers Squibb Company, Merck & Co., Inc., and Dendreon Pharmaceuticals LLC.