Neoantigen Cancer Vaccine Market: Current Analysis and Forecast (2022-2028)
Neoantigens are tumor-specific antigens that are developed from mutated proteins only found in cancer cells. Neoantigen cancer vaccines are novel vaccines that utilize neoantigens to boost the immune system against tumor cells. Owing to this high specificity towards cancer cells, these vaccines have gained considerable momentum in the global market. Pharmaceutical companies is tremendously investing in research activities for the development of neoantigen cancer vaccines. For instance, in October 2020, Vaccibody signed an agreement with Genentech for the development and commercialization of DNA-based individualized neoantigen cancer vaccines.
The Neoantigen Cancer Vaccine Market is expected to grow at a steady rate of around 25% owing to a surge in the prevalence of cancer. According to GLOBOCAN, in 2020, there were about 19.3 million new cancer cases and approximately 10 million deaths. Thus, the surge in the incidences of cancer is expected to foster the adoption of neoantigen cancer vaccines. Moreover, the rising initiatives of the government and various non-profit organizations in spreading awareness regarding the prevention of cancer are expected to fuel the growth of the market. For instance, the World Health Organization’s Global Action Plan for Prevention and Control of Non-Communicable Diseases aims at decreasing premature death due to cancer, cardiovascular diseases, chronic respiratory diseases, and diabetes by around 25% by the year 2025.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook