Cancer Vaccines Market to Exceed USD 19.12 Billion by 2029, with a 14.7% CAGR

The global cancer vaccines market was valued at USD 6.43 billion in 2021 and is expected to grow at a CAGR of 14.7% from USD 7.32 billion in 2022 to USD 19.12 billion by 2029. During the forecast period, the market is expected to grow at a CAGR of 14.7%. Rising cancer cases and significant investments in prophylactic and preventive vaccines may drive market growth. Dendreon Pharmaceuticals LLC. has partnered with Grant Hill to launch a novel initiative to empower individuals to make effective decisions in the fight against prostate cancer.

Merck & Co., Inc. announced plans to build a new manufacturing facility to triple its current capacity for TICE Bacillus Calmette-Guérin production. Merck & Co., Inc. (U.S.), GSK plc (U.K.), and Dendreon Pharmaceuticals LLC (U.S.) are major players in the cancer vaccines market, as are Walvax Biotechnology Co., Ltd. (China), Biomed Lublin S.A. (Poland), Serum Institute of India Pvt. Ltd. (India), Centre of Molecular Immunology (Cuba), Organon Teknika Corp., LLC. Cancer vaccines cure a variety of cancers and are expected to be in high demand due to the rising prevalence of cancer cases. Increased collaboration among key players could significantly increase vaccine adoption during the forecast period. In June 2020, UbiVac, Inc. announced a collaboration with Bristol Myers Squibb to evaluate preliminary efficacy, tolerability, and safety in patients.

However, advances in personalised medicine will most likely limit the industry's growth. The market is divided into four segments based on indication: cervical cancer, bladder cancer, prostate cancer, and lung cancer. Because of the rising number of cervical cancer cases among women, the cervical cancer segment is expected to dominate. The market's leading companies announce new products to boost their brand image. Dendreon Pharmaceuticals LLC., for example, announced a manufacturing and CMC alliance in November 2021 to transform iSPC cellular technology. This strategy could help the company improve its brand image and boost sales. Furthermore, companies use R&D, mergers, partnerships, acquisitions, and innovations to strengthen their market position.