Cancer vaccines are a viable option for treating many types of cancers which in the present day do not have effective treatments. Therapeutic cancer vaccines and Prophylactic cancer vaccines are the two broad segments into which the cancer vaccines market is categorized. Therapeutic or Treatment vaccines are targeted at treating an existing cancer by strengthening the body’s natural defences against the cancer and the Prophylactic or Preventive vaccines are used to prevent cancer from developing in healthy people. With the approval of the expensive prostate cancer vaccine, Provenge by Dendreon, the field of cancer vaccines has received an unprecedented boost. Consequently, many companies are expected to enter this emerging and highly profitable field of preventing, treating, and potentially curing cancer.
With the increasing focus of pharmaceutical companies in the cancer vaccine segment, the prophylactic vaccines segment grew substantially and currently is the largest source of revenue, with the therapeutic vaccines segment still remaining untapped. It is most likely that the regulatory authorities would in the near future quicken its approval process specifically for therapeutic vaccines. This coupled with a significant amount of investment for the research and development of these vaccines by the pharmaceutical companies would certainly push the overall cancer vaccines market onto a rapid growth trajectory.
The current market size of cancer vaccines category is many fold smaller than other cancer therapeutics categories. Due to nascent stages of industry-life cycle and late introduction in market has decreased their overall share. To tap this cancer market category, many global companies are actively investing in cancer vaccine development. The market penetration is expected to increase with the competition among various pharmaceutical companies to get a larger portion of this market category.
The capital investments in many sections are required for the development and introduction of new cancer vaccines in market. The present market has handful of cancer vaccines for preventive and therapeutic categories. The limited options to choose from these products have significantly limited the pharmaceutical companies’ profit margins. On the other hand, many companies are developing cancer vaccine for both of these categories. The introduction of new products will also alleviate the financial burden from the patients.
The cancer vaccine pipeline is expected to increase at tremendous rates in coming years. As large numbers of cancer vaccines are entering in various phases of clinical trials, due to which cancer market will soon observe a boost. However, the novelty of cancer vaccines makes it difficult for the standardization of clinical trials, because the criterias required to quantify its effectiveness are not completely discovered, this cause loss of valuable time. Moreover, the present day methods are standardized for conventional cancer therapeutic methods like chemotherapy, radiotherapy and surgery, which are not applicable for cancer vaccines due to their different mode of actions. In near future, researchers will find the solution for this problem and it will decrease the winding time.
“Global Cancer Vaccine Market & Pipeline Analysis” Report Highlights: