Cancer Vaccines Market Size, Competitors & Forecast to 2032

The global cancer vaccines market is projected to surpass USD 20.47 billion in 2032 from USD 10.61 billion in 2024, with a significant CAGR of 8.6%. The market is witnessing robust growth, fueled by rising cancer prevalence and advancements in immunotherapy technologies like mRNA platforms. Preventive vaccines such as Gardasil (HPV) and therapeutic candidates like neoantigen vaccines are driving innovation in the market. Strong R&D investments, especially in North America and Europe, combined with increasing demand for personalized therapies, are further accelerating adoption.

The preventive cancer vaccines segment accounted for the highest share in 2023.

On the basis of type, the cancer vaccines market is further segmented into preventive and therapeutic vaccines (Neoantigen cancer vaccines and other cancer vaccines). The preventive cancer vaccines segment is anticipated to lead the cancer vaccines market, driven by increasing awareness of disease prevention, government immunization programs, and technological advancements in vaccine development. Emerging technologies, such as mRNA platforms, are further likely to enhance vaccine efficacy and accessibility is likely to boost the segmental growth.

By route of administration, intramuscular segment accounted for the largest share in the cancer vaccines market.

The route of administration segment of the cancer vaccines market is segmented into intravenous, intramuscular, and other route of administration. Intramuscular (IM) route of administration is expected to lead the cancer vaccines market owing to the established practice, high efficacy of the administration of the vaccine, and creation of an effective immune response.

IM administration guarantees a high efficiency of vaccine absorption and compatibility with any kind of formulation, therefore it is the most appropriate for preventive and treatment cancer vaccines. Its ease of use in clinical and outpatient settings, along with minimal training requirements for healthcare providers, enhances accessibility and scalability for mass immunization programs. All of these parameters therefore position the IM route as the dominant and feasible option in the cancer vaccine field.

North America: the largest share of the cancer vaccines market

By region, the market is segment into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America dominated the cancer vaccines market in 2023 and is estimated to continue dominance during the forecast period. Advanced healthcare infrastructure, high levels of investment in biotechnology, and strong presence of leading pharmaceutical companies driving innovation in the field. are some of the prominent factors accelerating market growth.

In-depth interviews have been conducted with chief executive officers (CEOs), Directors, and other executives from various key organizations operating in the cancer vaccines market.

The primary interviews conducted for this report can be categorized as follows:

By Respondent: Supply Side - 65% and Demand Side 35%
By Designation: Managers - 45%, CXO & Directors - 30%, and Executives - 25%
By Region: North America - 40%, Europe - 25%, Asia-Pacific - 25%, Latin America - 5% and Middle East & Africa - 5%

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 are some of the major players operating in the cancer vaccines market.

Research Coverage:

This research report categorizes the cancer vacciness market type (preventive and therapeutic [neoantigen cancer vaccines & other cancer vaccines]), technology (cell-based vaccines, recombinant, others), route of administration (intramuscular, intravenous, other routes of administration), indication (cervical cancer, prostrate cancer, other indications), end user (hospitals, others) and region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa).

The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the cancer vacciness market. A detailed analysis of the key industry players has been done to provide insights into their business overview, products, solutions, key strategies, collaborations, partnerships, and agreements. New launches, collaborations and acquisitions, and recent developments associated with the cancer vaccines market.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the cancer vaccines and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

Analysis of key drivers (Increasing Awareness and Preventive Healthcare Measures, Rising Cancer Incidence Globally, Increased investments into R&D of Neoantigen cancer vaccines and Technological Advancements in Immunotherapy), restraints (Lengthy Clinical Trial Processes and Vaccine Hesitancy & Limited Adoption and High Development and Manufacturing Costs), opportunities (Collaborations & Strategic Partnerships and Incorporation of Artificial Intelligence (AI) & Big Data) and Challenges (Personalized Medicine & Heterogeneity of Cancer Types and Competition from Alternative Therapies) influencing the growth of the market.
Product Development/Innovation: Detailed insights on upcoming technologies in cancer vaccines manufacturing, research and development activities, and new product launches in the cancer vaccines market.
Market Development: Comprehensive information about lucrative markets - the report analyses the market across varied regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the cancer vaccines market
Competitive Assessment: 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 in the market.

1 Introduction

1.1 Study Objectives
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered & Regional Segmentation
1.3.2 Inclusions & Exclusions
1.3.3 Years Considered
1.3.4 Currency Considered
1.4 Stakeholders

2 Research Methodology

2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.2 Market Estimation Methodology
2.2.1 Market Estimation
2.2.2 Insights from Primary Experts
2.2.3 Top-Down Approach
2.3 Market Growth Rate Projection
2.4 Data Triangulation
2.5 Research Assumptions
2.6 Research Limitations
2.7 Risk Analysis

3 Executive Summary

4 Premium Insights

4.1 Cancer Vaccines Market Overview
4.2 North America: Cancer Vaccines Market, by Technology and Country (2023)
4.3 Cancer Vaccines Market Share, by Type, 2024 vs. 2032
4.4 Cancer Vaccines Market: Geographic Growth Opportunities

5 Market Overview

5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Investments in Neoantigen Cancer Vaccine R&D
5.2.1.2 Technological Advancements in Immunotherapy
5.2.1.3 Increasing Awareness and Preventive Healthcare Measures
5.2.1.4 Rising Cancer Incidence Globally
5.2.2 Restraints
5.2.2.1 High Development and Manufacturing Costs
5.2.2.2 Lengthy Clinical Trial Processes & Vaccine Hesitancy and Limited Adoption
5.2.3 Opportunities
5.2.3.1 Collaborations and Strategic Partnerships
5.2.3.2 Incorporation of AI and Big Data
5.2.4 Challenges
5.2.4.1 Personalized Medicine and Heterogeneity of Cancer Types
5.2.4.2 Competition from Alternative Therapies
5.3 Trends/Disruptions Impacting Customers’ Business
5.4 Value Chain Analysis
5.5 Ecosystem Analysis
5.5.1 Raw Material Providers
5.5.2 Product Providers
5.5.3 End-users
5.5.4 Regulatory Landscape
5.6 Technology Analysis
5.6.1 Key Technologies
5.6.1.1 Mrna-based Vaccines
5.6.1.2 Dendritic Cell Vaccines
5.6.1.3 Recombinant Vector-based Vaccines
5.6.2 Complementary Technologies
5.6.2.1 Artificial Intelligence (AI) and Machine Learning (ML)
5.6.2.2 Adjuvants for Immuno-Stimulation
5.6.3 Adjacent Technologies
5.6.3.1 Car T-Cell Therapy
5.6.3.2 Crispr-based Gene Editing
5.7 Patent Analysis
5.7.1 Methodology
5.7.2 Number of Patents Filed
5.7.3 Innovations and Patent Applications
5.8 Pricing Analysis
5.8.1 Average Selling Price Trend of Key Players, 2021-2023
5.8.2 Average Selling Price, by Region, 2023
5.9 Key Conferences & Events, 2024-2O25
5.10 Regulatory Landscape
5.10.1 Regulatory Bodies, Government Agencies, and Other Organizations
5.10.2 Regulatory Framework
5.10.2.1 North America
5.10.2.2 Europe
5.10.2.3 Asia-Pacific
5.11 Investment & Funding Scenario
5.12 Porter's Five Forces Analysis
5.12.1 Intensity of Competitive Rivalry
5.12.2 Bargaining Power of Suppliers
5.12.3 Bargaining Power of Buyers
5.12.4 Threat of Substitutes
5.12.5 Threat of New Entrants
5.13 Key Stakeholders & Buying Criteria
5.13.1 Key Stakeholders
5.13.2 Key Buying Criteria
5.14 Trade Analysis
5.14.1 Import Data for HS Code 300241
5.14.2 Export Data for HS Code 300241
5.15 Impact of AI/Gen AI on Cancer Vaccines Market
5.16 Pipeline Analysis

6 Cancer Vaccines Market, by Type

6.1 Introduction
6.2 Preventive Vaccines
6.2.1 National Immunization Programs & Biotechnology Innovations to Drive Market Growth
6.3 Therapeutic Vaccines
6.3.1 Neoantigen Cancer Vaccines
6.3.1.1 Personalized Nature of Neoantigen Cancer Vaccines to Propel Market Growth
6.3.2 Other Therapeutic Vaccines

7 Cancer Vaccines Market, by Technology

7.1 Introduction
7.2 Cell-based Vaccines
7.2.1 Advancements in Manufacturing Processes to Drive Market Growth
7.3 Recombinant Vaccines
7.3.1 Global Vaccination Initiatives to Propel Market
7.4 Other Vaccine Technologies

8 Cancer Vaccines Market, by Route of Administration

8.1 Introduction
8.2 Intramuscular Route
8.2.1 Technological Advancements in Vaccine Delivery to Support Market Growth
8.3 Other Routes of Administration

9 Cancer Vaccines Market, by Indication

9.1 Introduction
9.2 Cervical & Related Cancers
9.2.1 Rising Cervical Cancer Prevalence to Support Market Growth
9.3 Other Indications

10 Cancer Vaccines Market, by End-user

10.1 Introduction
10.2 Hospitals
10.2.1 Rising Cancer Prevalence to Support Market Growth
10.3 Specialty Clinics & Centers
10.3.1 Increasing Awareness and Access to Propel Market

11 Cancer Vaccines Market, by Region

11.1 Introduction
11.2 Asia-Pacific
11.2.1 Macroeconomic Outlook for Asia-Pacific
11.2.2 China
11.2.2.1 Government Support & Strategic Initiatives by Key Players to Strengthen Biotechnology Sector in China
11.2.3 Japan
11.2.3.1 Government Initiatives for Vaccines to Boost Market
11.2.4 India
11.2.4.1 Growth of Biotechnology Sector and Development of New Vaccines to Drive Market
11.2.5 South Korea
11.2.5.1 Commitment to Cancer Immunotherapy to Expand Cancer Vaccine Sector
11.2.6 Rest of Asia-Pacific
11.3 North America
11.3.1 Macroeconomic Outlook for North America
11.3.2 US
11.3.2.1 US to Dominate North American Market During Forecast Period
11.3.3 Canada
11.3.3.1 Increasing Government Funding for Vaccine Research to Drive Market Growth in Canada
11.4 Europe
11.4.1 Macroeconomic Outlook for Europe
11.4.2 Germany
11.4.2.1 Increasing Investments by Key Players and Growing Funding from Government Organizations to Drive Market
11.4.3 UK
11.4.3.1 Rising Investments in Vaccine Development to Boost Market Growth
11.4.4 France
11.4.4.1 Support for Biotechnology and Research to Drive Market Growth
11.4.5 Italy
11.4.5.1 Government Initiatives for Vaccine Development to Boost Market Growth
11.4.6 Spain
11.4.6.1 Increasing Investments in Vaccine Development by Government and Private Organizations to Support Market Growth
11.4.7 Rest of Europe
11.5 Latin America
11.5.1 Macroeconomic Outlook for Latin America
11.5.2 Brazil
11.5.2.1 Proactive Healthcare Policies to Support Market Growth
11.5.3 Mexico
11.5.3.1 Government Commitment to Immunization Programs to Fuel Growth
11.5.4 Rest of Latin America
11.6 Middle East
11.6.1 Macroeconomic Outlook for Middle East
11.6.2 GCC Countries
11.6.3 Rest of Middle East
11.7 Africa
11.7.1 Increasing Investments in Cancer Vaccine Immunization Programs to Support Market Growth
11.7.2 Macroeconomic Outlook for Africa

12 Competitive Landscape

12.1 Overview
12.2 Key Player Strategies/Right to Win, 2023
12.2.1 Overview of Strategies Adopted by Players in Cancer Vaccines Market
12.3 Revenue Analysis, 2019-2023
12.4 Market Ranking, 2023 and 2032
12.5 Company Evaluation Matrix: Key Players, 2023
12.5.1 Stars
12.5.2 Emerging Leaders
12.5.3 Pervasive Players
12.5.4 Participants
12.5.5 Company Footprint: Key Players, 2023
12.5.5.1 Company Footprint
12.5.5.2 Region Footprint
12.5.5.3 Type Footprint
12.5.5.4 Technology Footprint
12.5.5.5 Route of Administration Footprint
12.6 Company Evaluation Matrix: Startups/SMEs, 2023
12.6.1 Progressive Companies
12.6.2 Responsive Companies
12.6.3 Dynamic Companies
12.6.4 Starting Blocks
12.6.5 Competitive Benchmarking: Startups/SMEs, 2023
12.7 Company Valuation & Financial Metrics
12.7.1 Financial Metrics
12.7.2 Company Valuation
12.8 Brand/Product Comparison
12.9 Competitive Scenario
12.9.1 Product Launches & Approvals
12.9.2 Deals
12.9.3 Expansions

13 Company Profiles

13.1 Key Players
13.1.1 Merck & Co. Inc.
13.1.1.1 Business Overview
13.1.1.2 Products Offered
13.1.1.3 Recent Developments
13.1.1.3.1 Deals
13.1.1.3.2 Expansions
13.1.1.4 Analyst's View
13.1.1.4.1 Key Strengths
13.1.1.4.2 Strategic Choices
13.1.1.4.3 Weaknesses & Competitive Threats
13.1.2 Gsk PLC.
13.1.2.1 Business Overview
13.1.2.2 Products Offered
13.1.2.3 Recent Developments
13.1.2.3.1 Product Approvals
13.1.2.4 Analyst's View
13.1.2.4.1 Key Strengths
13.1.2.4.2 Strategic Choices
13.1.2.4.3 Weaknesses & Competitive Threats
13.1.3 Dendreon Pharmaceuticals LLC. (Sanpower Group)
13.1.3.1 Business Overview
13.1.3.2 Products Offered
13.1.3.3 Analyst's View
13.1.3.3.1 Key Strengths
13.1.3.3.2 Strategic Choices
13.1.3.3.3 Weaknesses & Competitive Threats
13.1.4 Jw Creagene (Jw Shinyak)
13.1.4.1 Business Overview
13.1.4.2 Products Offered
13.1.5 Serum Institute of India Pvt. Ltd.
13.1.5.1 Business Overview
13.1.5.2 Products Offered
13.1.5.3 Recent Developments
13.1.5.3.1 Product Launches
13.1.5.3.2 Deals
13.1.6 Verity Pharmaceuticals, Inc.
13.1.6.1 Business Overview
13.1.6.2 Products Offered
13.1.6.3 Recent Developments
13.1.6.3.1 Product Approvals
13.1.7 Wantai Biopharm
13.1.7.1 Business Overview
13.1.7.2 Products Offered
13.1.8 Shanghai Zerun Biotech Co. Ltd. (Walvax Biotechnology Co. Ltd.)
13.1.8.1 Business Overview
13.1.8.2 Products Offered
13.1.8.3 Recent Developments
13.1.8.3.1 Product Approvals
13.1.9 Vaccinogen
13.1.9.1 Business Overview
13.1.9.2 Products Offered
13.2 Other Players (Companies with Products Under Clinical Studies)
13.2.1 Biontech
13.2.1.1 Biontech: Products Under Clinical Studies
13.2.2 Gritstone Bio
13.2.2.1 Gritstone Bio: Products Under Clinical Studies
13.2.3 Ose-Immuno
13.2.3.1 Ose-Immuno: Products Under Clinical Studies
13.2.4 Obi Pharma
13.2.4.1 Obi Pharma: Products Under Clinical Studies
13.2.5 Shanghai Bovax Biotechnology Co. Ltd.
13.2.5.1 Shanghai Bovax Biotechnology: Products Under Clinical Studies
13.2.6 Moderna Inc.
13.2.6.1 Moderna: Products Under Clinical Studies
13.2.7 Beijing Sinocell Biotechnology Group Co. Ltd.
13.2.7.1 Beijing Sinocell Biotechnology Group: Products Under Clinical Studies
13.2.8 Greenwich Lifesciences, Inc.
13.2.8.1 Greenwich Lifesciences: Products Under Clinical Studies
13.2.9 Aston Sci. Inc.
13.2.9.1 Aston Sci.: Products Under Clinical Studies
13.2.10 Transgene
13.2.10.1 Transgene: Products Under Clinical Studies
13.2.11 Sellas Life Sciences Group Inc.
13.2.11.1 Sellas Life Sciences Group: Products Under Clinical Studies

14 Appendix

14.1 Discussion Guide
14.2 Knowledgestore: The Subscription Portal
14.3 Customization Options

List of Figures

Figure 1 Cancer Vaccines Market Segmentation
Figure 2 Research Design
Figure 3 Breakdown of Primaries: Cancer Vaccines Market
Figure 4 Cancer Vaccines Market Size Estimation (Supply-Side Analysis), 2023
Figure 5 Market Size Estimation: Company Revenue Analysis-based Estimation (Products), 2023
Figure 6 Illustrative Example of Merck & Co. Inc.: Revenue Share Analysis (2023)
Figure 7 Market Size Validation from Primary Sources
Figure 8 Market Size Estimation Methodology: Top-Down Approach
Figure 9 Cancer Vaccines Market: CAGR Projections
Figure 10 Data Triangulation Methodology
Figure 11 Cancer Vaccines Market, by Type, 2024 vs. 2032 (USD Million)
Figure 12 Cancer Vaccines Market, by Technology, 2024 vs. 2032 (USD Million)
Figure 13 Cancer Vaccines Market, by Route of Administration, 2024 vs. 2032 (USD Million)
Figure 14 Cancer Vaccines Market, by Indication, 2024 vs. 2032 (USD Million)
Figure 15 Cancer Vaccines Market, by End-user, 2024 vs. 2032 (USD Million)
Figure 16 Geographical Snapshot of Cancer Vaccines Market (2024-2032)
Figure 17 Advancements in Cancer Vaccines and Rising Demand for Neoantigen Cancer Vaccines to Drive Market
Figure 18 Recombinant Vaccines Segment Accounted for Largest Market Share in 2023
Figure 19 Preventive Vaccines to Dominate Market During Forecast Period
Figure 20 US to Register Highest CAGR During Forecast Period
Figure 21 Cancer Vaccines Market: Drivers, Restraints, Opportunities, and Challenges
Figure 22 Trends/Disruptions Influencing Customers’ Business
Figure 23 Cancer Vaccines Market: Value Chain Analysis
Figure 24 Cancer Vaccines Market: Ecosystem Analysis
Figure 25 Cancer Vaccines Market: Patent Analysis
Figure 26 Cancer Vaccines Market: Funding Scenario
Figure 27 Cancer Vaccines Market: Porter's Five Forces Analysis
Figure 28 Influence of Key Stakeholders on Buying Process for Top Three End-users
Figure 29 Key Buying Criteria for Top End-users
Figure 30 Cancer Vaccines Market: Impact of AI
Figure 31 Asia-Pacific: Cancer Vaccines Market Snapshot
Figure 32 North America: Cancer Vaccines Market Snapshot
Figure 33 Revenue Analysis of Key Players in Cancer Vaccines Market, 2019-2023
Figure 34 Cancer Vaccines Market: Company Evaluation Matrix (Key Players), 2023
Figure 35 Cancer Vaccines Market: Company Footprint
Figure 36 Cancer Vaccines Market: Company Evaluation Matrix (Startups/SMEs), 2023
Figure 37 EV/Ebitda of Key Vendors
Figure 38 Year-To-Date (Ytd) Price Total Return and 5-Year Stock Beta of Key Vendors
Figure 39 Cancer Vaccines Market: Brand/Product Comparative Analysis
Figure 40 Merck: Company Snapshot (2023)
Figure 41 Gsk: Company Snapshot (2023)

Companies Mentioned

Merck & Co. Inc.
Gsk PLC.
Dendreon Pharmaceuticals LLC. (Sanpower Group)
Jw Creagene (Jw Shinyak)
Serum Institute of India Pvt. Ltd.
Verity Pharmaceuticals, Inc.
Wantai Biopharm
Shanghai Zerun Biotech Co. Ltd. (Walvax Biotechnology Co. Ltd.)
Vaccinogen
Biontech
Gritstone Bio
Ose-Immuno
Obi Pharma
Shanghai Bovax Biotechnology Co. Ltd.
Moderna Inc.
Beijing Sinocell Biotechnology Group Co. Ltd.
Greenwich Lifesciences, Inc.
Aston Sci. Inc.
Transgene
Sellas Life Sciences Group Inc.

Table Information

Report Attribute	Details
No. of Pages	263
Published	December 2024
Forecast Period	2024 - 2032
Estimated Market Value ( USD ) in 2024	$ 10.61 Billion
Forecasted Market Value ( USD ) by 2032	$ 20.47 Billion
Compound Annual Growth Rate	8.6%
Regions Covered	Global
No. of Companies Mentioned	20

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Cancer Vaccines Market by Type, Technology, Indication, ROA, End User - Global Forecast to 2032

The preventive cancer vaccines segment accounted for the highest share in 2023.

By route of administration, intramuscular segment accounted for the largest share in the cancer vaccines market.

North America: the largest share of the cancer vaccines market

The primary interviews conducted for this report can be categorized as follows:

Research Coverage:

Key Benefits of Buying the Report:

The report provides insights on the following pointers:

Table of Contents

Companies Mentioned

Table Information

The preventive cancer vaccines segment accounted for the highest share in 2023.

By route of administration, intramuscular segment accounted for the largest share in the cancer vaccines market.

North America: the largest share of the cancer vaccines market

The primary interviews conducted for this report can be categorized as follows:

Research Coverage:

Key Benefits of Buying the Report:

The report provides insights on the following pointers:

Table of Contents

Companies Mentioned

Table Information

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About the Cancer Vaccines Market