The size of the Asia-Pacific Cancer Vaccines Market is predicted to value USD 0.74 billion in 2022 and is estimated to reach USD 1.72 billion by the end of 2027, growing at a CAGR of 18.24% between 2022 to 2027.
The rising number of cancer patients and the growing awareness of the benefits of vaccines are majorly driving the APAC cancer vaccines market. The increasing occurrence of different types of cancer and technological advancements in the healthcare field is expected to drive market growth. Market players in the region are introducing advanced vaccines to increase the product demand is most likely to uplift the market growth. The other factors, such as increasing research and development activities and a growing number of start-ups and biotech companies across the region, are projected to propel the market growth. Growing Incidences of human papillomavirus infections, implementation of prophylactic cancer vaccines, rising government support and heavy investments in developing cancer vaccines, the launch of new cancer vaccines, and continuous developments in cancer vaccines are all expected to drive up demand for cancer vaccines over the forecast period. However, Increased usage of tobacco products and alcohol consumption, along with an unhealthy diet and lack of physical activity, are the main cancer risk factors prevalent in APAC. According to a post by WHO, Cancer is a leading cause of death and is expected to rise by about 70% over the next two decades. Prostrate, cervical, lung, and breast cancers are common forms with fewer diagnostic and therapeutic techniques commercialized for the treatment. The rise in awareness among the people about cancer therapy and the growing geriatric population in emerging countries such as China and India will most likely augment the APAC regional market growth.
In addition, increasing investment and funding by the government and private organizations to develop new vaccines accelerate the market growth. However, increasing healthcare expenditure and healthcare infrastructure, adoption of preventive and therapeutic vaccines are the factors majorly contributing to the market growth.
However, advances in manufacturing technology and the time-consuming procedure of developing a single cancer vaccine are projected to stifle market growth during the forecast period.
This research report on the APAC cancer vaccines market has been segmented and sub-segmented into the following categories:
By Cancer Type:
By Vaccine Type:
By End User:
The Asia Pacific cancer vaccines market is expected to account for a substantial share of the global cancer vaccine market during the forecast period. The market growth is attributed to the high growing prevalence of cancer and contagious diseases and government initiatives for creating awareness about cancer treatment. Moreover, investments by the government and non-government organizations for the new vaccine development are boosting the market growth. As a result, the countries such as India, China, and Japan are majorly witnessing significant market revenue during the forecast period. However, in APAC regional market growth, China dominated the cancer vaccines market growth over the forecast period, technological advancements in medical sectors, and increasing medical tourism for creating awareness about cancer therapies are upsurging the market growth in the country. On the other hand, the Indian cancer vaccines market is anticipated to contribute to the APAC regional market growth. The increasing number of hospitals treating cancer patients, support from the government for conducting the research and development activities, and improving the healthcare infrastructure are likely driving the market growth.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the APAC cancer vaccines market profiled in this report are Dendreon, GlaxoSmithKline, and Merck. In addition, companies with their products in the pipeline are Aduro Biotech, Advantage, Advaxis, Agenus, Altor BioScience, Argos Therapeutics, AVAX Technologies, Bavarian Nordic, Biothera, Celldex Therapeutics, CureVac, Galena Biopharma, Genexine, GlobeImmune, Gradalis, Heat Biologics, Immatics, ImmunoCellular Therapeutics, Inovio Pharmaceuticals, ISA Pharmaceuticals, Juvaris Biotherapeutics, NewLink Genetics, Northwest Biotherapeutics, NovaRx, OncoThyreon, Oncovir, Oxford BioMedica, Prima BioMed, Sotio, Transgene, Ubivac, Vaccinogen, and Vaxon Biotech.
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