The size of the North America Cancer Vaccines Market was worth USD 1.73 billion in 2022 and is estimated to reach USD 3.80 billion by the end of 2027, with a growing potential of 17.03%. North America dominated the market by holding the highest shares and revenue for cancer vaccines. It is due to an increase in the number of cancer cases, rising key players and investors for vaccines, increased technology and developments, increased research, and development activities. The number of deaths and deceased ratio due to cancers are recorded more in Canada and the United States. It brings scope for new vaccine production and more research activities. Government initiatives regarding creating awareness in people for early detection of disease and treating time are a market growth factor in North America.
Vaccines, which are also known as vaccinations, help the body to fight against the disease. Vaccines make the immune system strong that it can recognize and destroy harmful substances.
The primary factor which significantly boosting the growth of the cancer vaccines market in North America is the increasing prevalence of the geriatric population and rising population with chronic diseases. The growing popularity of effective alternative solutions in place of therapies among the people contributes to the growth of the North America Cancer Vaccines market. Increasing demand for novel and effective vaccines due to the continually growing incidence of cancer is catalyzing the growth of the North American market. Also, high costs associated with therapies and the increasing focus of healthcare organizations for research and development of better alternatives for cancer treatment are boosting the North America Cancer Vaccines market.
Stringent regulations pose a significant problem, limiting the growth of the North America Cancer Vaccines business. Manufacturers are hesitant to develop new vaccines due to time taking approval procedures and stringent policies of the FDA, which are opposing the market's growth and are likely to pose a challenge for the key players during the forecast period.
The presence of prominent drug developing companies is expected to create lucrative opportunities for stakeholders in the Cancer Vaccines market in North America during the outlook period. Increasing demand for novel and useful cancer treatment alternatives among people leads to intensive research and development operations in the region. It is anticipated to offer several growth opportunities or the stakeholders in the North America cancer vaccines business. Steadily increasing geriatric population and rising incidence of chronic diseases due to biological and social factors offer lucrative growth opportunities for the key players in the cancer vaccines market in North America.
This research report on the North America Cancer Vaccines Market has been segmented & sub-segmented into the following categories:
By Cancer Type:
By Vaccine Type:
By End User:
Regionally, North America secures first place in medical care and infrastructure. Also, research and development activities are performed throughout the year. It is achieved due to awareness of a healthy lifestyle and early detection of diseases and their treatment. The public participation in vaccine trials as healthy volunteers is more growth driving factor in this market. The increase in the number of cancer cases, rising key players, and investors for vaccines' production increase market size. Technology and developments also increase cancer vaccines market growth. The prevalence of cancer cases is kept on growing so far in North America, and hence it needs more vaccine trails and new vaccines for a different type of vaccine. According to the American cancer society of cancer causes more deaths in Canada, followed by the United States. Around 1.9 million cases and 693,000 deaths were recorded in recent times.
Companies playing a promising role in the North American cancer vaccines market are Dendreon, GlaxoSmithKline, and Merck. Other companies whose products are in the pipeline stage 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, and Vaxon Biotech
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