Cancer Vaccines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Cancer Vaccines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The cancer vaccines market had a revenue of USD 6,784.25 million in 2021 and is expected to reach USD 13,215.31 million by 2027 with a CAGR of 11.54% during the forecast period (2022 - 2027).

The outbreak of the COVID-19 pandemic had an adverse effect on the global economy and healthcare system. Pharmaceuticals, medical gadgets, and biotechnological items have all been affected by the worldwide lockdown. Research and development, on the other hand, have taken center stage. Many countries have stopped their asymptomatic cancer screening programs due to the need to divert medical personnel and resources to the pandemic response. In March 2020, the governments of Wales and Scotland stopped funding breast, cervical, and bowel cancer screening programs. The Centers for Medicare & Medicaid Services in the United States have encouraged healthcare institutions to delay screenings because they are a low-priority service. Several clinical experiments have been put on hold due to COVID-19, at least during the pandemic's peak, in addition to diagnosis, treatment, and care. In addition to the potential health benefits for those currently enrolled in studies, a phase 3 cancer clinical study typically costs at least USD 20 million. As a result, production of cancer vaccines and other current clinical trials were suspended throughout the pandemic and is predicted that the market will suffer as a result.

On the other hand, according to a JCO Global Oncology Journal article titled "Spotlight on International Quality: COVID-19 and Its Impact on Quality Improvement in Cancer Care" published in October 2021, Dubai Health Authority reviewed and adjusted all center-specific guidelines and policies to each center-specific cohort in order to maintain high quality oncology care throughout the nation. Other quality requirements included preventing interruptions of IV chemotherapy services, increasing the use of granulocyte colony-stimulating factor support, and providing coverage for antibiotics. The expansion of the industry is also being fueled by such government initiatives. Therefore, the market first saw a negative impact in terms of clinical trial activity due to the shift in research focus towards the development of COVID-19 vaccines, but later came to recover.

Certain factors driving the cancer vaccine market growth include the increasing number of cancer cases, rising investments and government funding in developing cancer vaccines, and technological developments in cancer vaccines. As per the International Agency for Research on Cancer (IARC), published in December 2020, globally, 1 in 5 people develop cancer during their lifetime, and 1 in 8 men, and 1 in 11 women die from the disease. The IARC stated that the prevalence of cancer rose to 19.3 million cases and 10 million cancer deaths in 2020. With this growing burden, the prevention of cancer is one of the most significant challenges. Cancer vaccines play a vital role in the maintenance of the immune system, as they are considered to be biological response modifiers. These cancer vaccines target the infectious agents that may cause cancer through the production of antibodies. Moreover, as the number of cancer cases are increasing, the development of new cancer vaccines is also increasing for the treatment and prevention of disease. For instance, in 2019, Sanofi invested EUR 80 million in BioNTech, a German biotech company, to develop the messenger RNA cancer vaccine for the treatment of solid tumors. Simialrly, in March 2021: eTheRNA, a Belgian-based immunotherapy company, received a EUR 6.9 million grant from the European Commission to accelerate the clinical development of mRNA-based vaccines for cervical cancers. Furthermore, in November 2020: Moderna Inc. release interim data from the expansion cohort of its ongoing Phase 1 study of its mRNA personalized cancer vaccine (PCV) mRNA-4157 in combination with Merck’s Keytruda, and results demonstrated that the vaccine candidate is well tolerated at all dose levels and produced responses as measured by tumor shrinkage in HPV (-)Head and Neck Squamous Cell Carcinoma (HNSCC) patients.

The expenditure on pharmaceutical and biological research for research and development of innovative products has been increasing over the past few years. Various studies have been published to provide insight about the studied market. For instance, according to the study “Therapeutic cancer vaccines revamping:technology advancements and pitfalls” published in National Library of Medicine, in December 2021, stated that the record-breaking speed of vaccine development in response to the coronavirus disease-2019 pandemic mainly relied on manufacturing infrastructures and technological platforms already developed for cancer vaccines. Similarly, according to the American Society of Clinical Oncology, ChemoID is a cutting-edge technology that makes it more likely that an oncologist would use the chemotherapy drugs that are most effective for a patient's particular type of cancer. During ChemoID, a doctor takes a little sample of the tumor from the patient. The substance is then employed to mass-produce cancer stem cells and tumor cells. A doctor can test these cells with a variety of chemotherapy drugs to see which ones successfully destroy the most cells. Thus, due to the above-mentioned factors, the market is expected to witness significant growth over the forecast period.

However, the stringent regulatory issues, along with longer timelines in manufacturing vaccines and the availability of alternative therapies such as immunotherapy, act as major hindering factors in the global cancer vaccines market’s growth.

Key Market TrendsRecombinant Cancer Vaccines are Expected to a Hold Significant Market Share in the Cancer Vaccines Market

Recombinant vaccines are made by using yeast or bacteria to mass-produce a single viral or bacterial protein in vast amounts. The patient's immune system then produces antibodies to the disease agent's protein, protecting the patient from natural disease. Over the forecast period, it is anticipated that the increasing research and development studies in the sector would accelerate the studied segment's growth. According to the January 2022 article "Utility of a Recombinant HSV-1 Vaccine Vector for Personalized Cancer Vaccines," intravenously administered therapeutic vaccination with VC2-OVA significantly decreased the colonization of tumor cells in the mice's lungs. Additionally, VC2-OVA increased mouse longevity and triggered a powerful preventive antitumor response, demonstrating beneficial outcomes from the recombinant HSV-1 vaccination vector and propelling the market. Recombinant EGF-CRM197 is a novel combined conjugate therapeutic cancer vaccine that has been shown to be safe and well tolerated in patients with advanced solid tumors, according to a study published in November 2021 titled "A Novel Combined Conjugate Therapeutic Cancer Vaccine, Recombinant EGF-CRM197, in Patients With Advanced Solid Tumors: A Phase I Clinical Study." This finding supports the further clinical development of the vaccine.

According to a study published in January 2021 titled "Development of DNA Vaccine Targeting E6 and E7 Proteins of Human Papillomavirus 16 (HPV16) and HPV18 for Immunotherapy in Combination with Recombinant Vaccinia Boost and PD-1 Antibody," the pBI-11 DNA vaccine may be used with tissue-antigen HPV vaccine (TA-HPV) in a heterologous prime-boost strategy to enhance Therefore, this study suggests that the recombinant DNA vaccine is effective in preventing cervical cancer brought on by the HPV virus, which has contributed to the market's rapid expansion. Similarly, in July 2019, Oxford Vacmedix UK Limited (OVM), a UK-based biopharma company, collaborated and issued Innovate UK grant to CHAIN Biotechnology Ltd and the University of Oxford to develop OVM-100, a recombinant overlapping peptide (ROP) HPV vaccine targeted at cervical cancer.

Therefore, the expansion of the market sector is projected to be aided by the growing research and development efforts demonstrating the effectiveness of recombinant cancer vaccines.

North America is Expected to Dominate the Market Over the Forecast Period

North America is expected to grow due to the high prevalence of cancer and the developed healthcare infrastructure in the region. The United States has a better healthcare infrastructure than most developed countries. According to the National Cancer Institute (NCI), the national spending on cancer care was USD 156 billion in 2020.

According to GLOBOCAN, in 2020, an estimated 1,95,499 new cases of cancer were diagnosed in Mexico, and 90,222 people died from the disease. The rising number of cancer cases is creating opportunities for market players. According to the Canadian Institutes of Health Research, cervical cancer is one of the most preventable and treatable types of cancer with immunization, early identification, and efficient therapy. According to statistics on cervical cancer, the disease tends to strike in midlife and most usually affects women between the ages of 35 and 59. In June 2019, the Canadian Institutes of Health Research stated that the government will contribute USD 10 million over the next five years. The national research on cervical cancer will be aided by this financing.

Product launches, alliances, and mergers and acquisitions will aid the businesses in broadening their product lines and geographic reach, which will support the market's profitable expansion. The United States Food and Drug Administration accepted Anixa Biosciences' Investigational New Drug (IND) application for their breast cancer vaccine in December 2020. (FDA). Although Triple Negative Breast Cancer is the primary target, this technology may also be able to stop other types of breast cancer in the future. The United States Department of Defense is funding this vaccine's preclinical research as well as two clinical trials. Results showed that the vaccine candidate is well tolerated at all dose levels and produced responses as measured by tumor shrinkage in HPV (-)Head and Neck Squamous Cell Carcinoma (HNSCC) patients. In November 2020, Moderna Inc. released interim data from the expansion cohort of its ongoing Phase 1 study of its mRNA personalized cancer vaccine (PCV) mRNA-4157 in combination with Merck's Keytruda. In December 2020, Anixa Biosciences, a San Jose, California-based biotech company with Cleveland Clinic, received United States Food and Drug Administration (USFDA) investigational new drug application for its new breast cancer vaccine technology developed by Cleveland Clinic immunologist Dr. Vincent Tuohy and his research team to start the first human clinical trials. Thus, the abovementioned factors are expected to increase the market growth.

Competitive Landscape

The global cancer vaccines market is consolidated and consists of a few major players. Market players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, mergers, and acquisitions. Companies, like AstraZeneca PLC, Bristol-Myers Squibb, GlaxoSmithKline, Roche, Merck & Co. Inc., OSE Immunotherapeutics, Sanofi, and Moderna, among others, hold substantial shares in the cancer vaccines market.

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