The size of the Latin American Cancer Vaccines Market was worth USD 0.55 billion in 2022 and estimated to reach USD 1.24 billion by the end of 2027, hiking at a CAGR of 17.52% between 2022 to 2027.
Cancer vaccines are biological response modifiers. The fact that these biological response modifiers work by activating the body's immune system to combat cancer is a crucial element driving the growth of the Latin American cancer vaccines market. In addition, an increase in the number of cancer patients, a rise in the geriatric population, a rise in patient awareness of cancer therapy, an increase in the use of cancer vaccines in combination with other therapies, and an increase in the prevalence of human papillomavirus (HPV) infections are driving the cancer vaccines market forward in Latin American region.
The expansion of the cancer vaccines market is fuelled by manufacturers' increased investments and government funding to develop cancer vaccines. Furthermore, rising cigarette smoking and unhealthy dietary habits are key risk factors for increasing cancer cases, accelerating the market for cancer vaccines in this region.
Other factors contributing to the expansion of the Latin American cancer vaccines market include technological advancements in cancer vaccines, the launch of innovative cancer vaccines, an increase in health care services and expenditures, and an increase in the acceptance rates of preventative and therapeutic vaccines.
The high expense of creating cancer vaccines and the longer time it takes to make a single vaccination are expected to limit the growth of the Latin American cancer vaccines market. In addition, the market's expansion is hampered by strict regulatory rules and the presence of alternative therapists. During the projection period, the cost of gene therapy treatment, undesired immune reactions, and the risk associated with the treatment are projected to stifle market expansion. On the other hand, an increasing global geriatric population, favorable reimbursement policies, technological improvements, and untapped market prospects given by emerging economies are likely to produce profitable opportunities for market players.
This research report on the Latin American cancer vaccines market has been segmented and sub-segmented into the following categories.
By Cancer Type:
By Vaccine Type:
By End User:
By Country:
Geographically, Latin America had a moderate share of the global cancer vaccines market in 2020. Mexico, Brazil, and Argentina have more excellent healthcare infrastructure than most of the region's developed countries. According to the National Cancer Institute (NCI), national cancer spending exceeds USD 156 billion by 2020. However, there are a limited number of vaccines on the market because the cancer vaccine market is still in its infancy. The market is being driven by factors such as rising cancer incidence, a lack of effective treatments, and the need to lessen the region burden of cancer. In 2012, the World Health Organization reported 14.2 million cancer cases and 8.2 million cancer deaths. The most common cancers were lung, colorectal, prostate, cervical, and breast cancers. As a result, vaccines to prevent and treat cancer are in high demand.
The Brazilian market is forecasted to play a leading role in the Latin American market during the forecast period due to the growing geriatric population, well-established healthcare infrastructure and specialized medical practitioners, advanced technological developments, presence of major manufacturers, and high adoption of cancer gene therapy treatment.
During the forecast period, the Mexican market is also expected to expand at a healthy CAGR. In addition, consumer awareness of cancer gene therapy is growing due to increased government activities and advances in healthcare infrastructure.
KEY MARKET PLAYERS:
Dendreon, GlaxoSmithKline, and Merck are companies that dominate the Latin American cancer vaccines market. In addition, companies with their products in the pipeline are Aduro Biotech, Advantagene, 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, Vaxon Biotech.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology Data
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Treatment type
5.1.1 Prophylactic
5.1.2 Therapeutic
5.1.3 Y-o-Y Growth Analysis, By Cancer Type
5.1.4 Market Attractiveness Analysis, By Cancer type
5.1.5 Market Share Analysis, By Cancer Type
5.2 Cancer Type
5.2.1 Introduction
5.2.2 Prostate Cancer
5.2.3 Cervical Cancer
5.2.4 Colorectal Cancer
5.2.5 Throat Cancer
5.2.6 Others
5.2.7 Y-o-Y Growth Analysis, By Cancer Type
5.2.8 Market Attractiveness Analysis, By Cancer type
5.2.9 Market Share Analysis, By Cancer Type
5.3 Vaccine Type
5.3.1 Introduction
5.3.2 Tumour cell Vaccines
5.3.3 Protein or Peptide Vaccines
5.3.4 Genetic Vaccines
5.3.4.1 DNA Vaccines
5.3.4.2 RNA Vaccines
5.3.5 Dendritic cell Vaccines
5.3.6 other Vaccines
5.3.7 Y-o-Y Growth Analysis, By Vaccine Type
5.3.8 Market Attractiveness Analysis, By Vaccine Type
5.3.9 Market Share Analysis, By Vaccine Type
5.4 End Users
5.4.1 Introduction
5.4.2 Cancer Treatment Centers
5.4.3 Research Institutes
5.4.4 Y-o-Y Growth Analysis, By End User
5.4.5 Market Attractiveness Analysis, By End User
5.4.6 Market Share Analysis, By End User
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Treatment Type
6.1.3.3 By Cancer Type
6.1.3.4 By Vaccine Type
6.1.3.5 By End User
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Treatment Type
6.1.4.3 By Cancer Type
6.1.4.4 By Vaccine Type
6.1.4.5 By End User
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Treatment Type
6.1.5.3 By Cancer Type
6.1.5.4 By Vaccine Type
6.1.5.5 By End User
6.2 Brazil
6.3 Mexico
6.4 Rest of Latin America
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Merck & co
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Dendreon
8.3 Glaxosmithkline
8.4 AstraZeneca plc
8.5 Aduro BioTech
8.6 MedImmune
8.7 Sanofi
8.8 Galena Biopharma
8.9 Ubivac
8.10 Oxford Biomedica
8.11 Immunofrontier Inc
8.12 Oncovir Inc
8.13 Immune Cell Therapy (ICT)
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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