Market Size of North America Cancer Vaccines Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 12.20 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Cancer Vaccines Market Analysis
The North America Cancer Vaccines Market is expected to grow with a CAGR of 12.2% in the forecast period. The key factors propelling the growth of the market are the increasing number of cancer cases, rising investments and government funding in the development of cancer vaccines, and technological developments in cancer vaccines.
The incidence of cancer is increasing every year and it has been the major factor for the growth of the cancer vaccines market. According to the American Cancer Society, cancer is the leading cause of death in Canada and the second-leading cause, in the United States. Around 1.9 million new cancer cases and 693,000 cancer deaths were recorded in Northern America in 2018. The number is estimated to increase in the coming years due to the changing lifestyle of the people found in the region. Therefore with the increasing prevalence of cancer, the market is expected to grow.
North America Cancer Vaccines Industry Segmentation
As per the scope of the report, cancer vaccines are defined as the vaccines developed to prevent or treat existing cancers, by strengthening the body's natural immune response system against cancer. These cancer vaccines belong to a class of substances, known as biological response modifiers. These modifiers work by stimulating or restoring the immune system's ability to fight against diseases.
| By Technology | |
| Recombinant Cancer Vaccines | |
| Whole-cell Cancer Vaccines | |
| Viral Vector and DNA Cancer Vaccines | |
| Other Technologies |
| By Treatment Method | |
| Preventive Vaccine | |
| Therapeutic Vaccine |
| By Application | |
| Prostate Cancer | |
| Cervical Cancer | |
| Other Applications |
| Geography | |||||
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North America Cancer Vaccines Market Size Summary
The North America Cancer Vaccines Market is poised for significant expansion, driven by a combination of increasing cancer incidence, heightened investments, and advancements in vaccine technology. The rising number of cancer cases, which is a leading cause of mortality in Canada and a major cause in the United States, underscores the urgent need for effective cancer prevention strategies. This demand is further amplified by lifestyle changes in the region, contributing to the market's robust growth trajectory. Preventive vaccines, designed to avert cancer in healthy individuals by targeting infectious agents, are gaining traction. These vaccines, akin to traditional ones for diseases like polio and measles, stimulate antibody production to thwart infections that may lead to cancer development, such as those caused by HPV.
The competitive landscape of the North America Cancer Vaccines Market is characterized by the presence of several major players, including Bristol-Myers Squibb, Amgen Inc, GlaxoSmithKline, Merck & Co. Inc., OSE Immunotherapeutics, and Sanofi. These companies hold significant market shares, reflecting their pivotal roles in shaping the industry's dynamics. The market's growth is further supported by the increasing demand for preventive vaccines, driven by the rising incidence of cancer across North America. As the market evolves, these key players are likely to continue influencing its direction through strategic initiatives and innovations in vaccine development.
North America Cancer Vaccines Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Number of Cancer Cases
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1.2.2 Rising Investments and Government Funding in the Development of Cancer Vaccines
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1.2.3 Technological Developments in Cancer Vaccines
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1.3 Market Restraints
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1.3.1 Stringent Regulatory Guidelines and Longer Timelines Required for Manufacturing Process
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1.3.2 Presence of Alternative Therapies
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Technology
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2.1.1 Recombinant Cancer Vaccines
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2.1.2 Whole-cell Cancer Vaccines
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2.1.3 Viral Vector and DNA Cancer Vaccines
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2.1.4 Other Technologies
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2.2 By Treatment Method
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2.2.1 Preventive Vaccine
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2.2.2 Therapeutic Vaccine
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2.3 By Application
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2.3.1 Prostate Cancer
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2.3.2 Cervical Cancer
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2.3.3 Other Applications
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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North America Cancer Vaccines Market Size FAQs
What is the current North America Cancer Vaccines Market size?
The North America Cancer Vaccines Market is projected to register a CAGR of 12.20% during the forecast period (2024-2029)
Who are the key players in North America Cancer Vaccines Market?
Astellas Pharma Inc., Merck & Co. Inc., GlaxoSmithKline, Bristol-Myers Squibb and Amgen Inc. are the major companies operating in the North America Cancer Vaccines Market.
