Rise in carcinogenic infections such as human papillomavirus (HPV), hepatitis B virus, and hepatitis C virus contributes toward growth of the cancer vaccine market.

According to a new research report by Next Move Strategy Consulting, the global Cancer Vaccine Market size was valued at USD 5.75 billion in 2022, and is expected to reach USD 13.4 billion by 2030, with a CAGR of 10.7% during the forecast period.

Cancer vaccines have witnessed a  rapid growth in sales, owing to rise in cases of various types of cancers including breast, lung, and cervical across the globe. This is mainly attributed to rise in consumption of alcohol and smoking. For instance, in February 2022, the World Health Organization declared that almost 2.26 million cases of breast cancer were diagnosed globally in 2020.

On the contrary, longer timeline of the process hinders growth of the cancer vaccine market. However, growth in technological developments such as liquid biopsy and biomarker testing that can detect cancer at an early stage is expected to propel the market growth.

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According to the report, the leading market players that manufacture cancer vaccines include GlaxoSmithKline plc, UbiVac, Inc, Biontech, Dendreon Pharmaceuticals, Inc, Dynavax Technologies Corporation, Merck & Co., Inc, Imugene Limited, Moderna, Inc, Northwest Biotherapeutics, Inc., and Oxford Vacmedix.

Key Insights from the Cancer Vaccine Market Report:

• Information related to key drivers, restraints, and opportunities and their impact on the cancer vaccine market is provided in the report.

• Value chain analysis in the market study provides a clear picture of the roles of stakeholders.

• Share of key players in the global cancer vaccine market, along with their competitive analysis is provide in the report.