The size of the Middle East and Africa Cancer Vaccines Market was worth USD 0.35 billion in 2023 and estimated to reach USD 0.78 billion by the end of 2028, rising at a CAGR of 17.194% between 2023 to 2028.
The incidence of cancer in the Middle East and Africa is rising every year, which has boosted the demand for cancer vaccines in research and development. Cancer cells produce self-antigen, which is harmful to the immune system. Because cancer vaccines are considered biological response modifiers, they play an essential role in immune system maintenance.
Through the development of antibodies, these cancer vaccines target infectious pathogens that may cause cancer. Compared to other alternative treatment medications, cancer vaccinations are thus regarded as a new therapy and are not widely used. But, on the other hand, cancer vaccinations have shown considerable promise in terms of both prevention and treatment.
In addition, because of the high number of cancer cases and the adverse side effects of present treatments, healthcare experts are exploring alternatives. As a result, the market for cancer vaccines is likely to grow substantially over the forecast period in MEA. According to the International Agency for Research on Cancer (IARC), one out of every five individuals will be diagnosed with cancer at some point in their lives, with one out of every eight men and one out of every eleven women dying from it by December 2020. Global cancer prevalence is expected to rise to 19.3 million cases and 10 million deaths in 2020, according to the International Agency for Research on Cancer, up from around 18 million cases in 2018.
In terms of both prevention and treatment, cancer vaccines have shown a lot of promise. Moreover, as the number of cancer cases increases, the demand for new cancer vaccines for treatment and prevention increases.
However, stringent regulatory issues, longer manufacturing timetables, and the availability of alternative therapies are a few key roadblocks to the market's expansion in the Middle East and Africa. In addition, the Middle East and Africa cancer vaccine market saw a substantial setback in terms of growth due to the abrupt emergence of COVID-19. As the number of COVID-19 cases increased, healthcare systems worldwide turned their priority to containing the disease, delaying the prevention, diagnosis, and treatment of other chronic disorders such as cancer. As a result, the cancer vaccine industry is now predicted to suffer a negative impact.
This research report on the MEA cancer vaccines market has been segmented and sub-segmented into the following categories:
By Cancer Type:
By Vaccine Type:
By End User:
Geographically, the cancer vaccines market in MEA is predicted to grow at a steady rate during the forecast period. The market for cancer vaccines in the MEA region is primarily driven by an increase in the number of cancer patients, a rise in the geriatric population, an increase in patient awareness of cancer therapy, an increase in the use of cancer vaccines in combination with other therapies, an increase in the prevalence of human papillomavirus (HPV) infections, and an increase in manufacturer and government funding for cancer vaccine development. As a result, several big businesses compete in the Middle East and Africa Cancer Vaccines Market. Agreements, collaborative models, business expansion, and product development are just a few of the employed methods.
The rising prevalence of cervical cancer in the region is the primary driver of market expansion. According to Globocan 2018, cervical cancer accounts for 11.3 percent of all malignancies, with 119,284 cases reported in Africa in 2018. With such a large patient pool and an abroad market, many multinational companies consider investing in the region.
Furthermore, high-quality, long-term projects, such as AMPATH Oncology's work in Eldoret, Hospice Africa Uganda's work, and collaborations between Crumlin Children's Hospital (Dublin, Ireland) and the Muhimbili University of Health and Allied Sciences (Dar-es-Salaam) Tanzania, contribute to cancer control, boosting the cancer vaccine market.
KEY MARKET PLAYERS:
Companies playing an influential role in the Middle East and Africa cancer vaccines market are Dendreon, GlaxoSmithKline, and Merck. 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.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]