In terms of revenue, the Global Peptide Cancer Vaccine Market is expected to reach USD 10.07 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 11.10% from 2022 to 2028.
Conventional vaccine strategies have been highly effective for several decades in reducing mortality and morbidity because of infectious diseases. Increasing prevalence of cancer and failure of conventional methods for the treatment of the disease effectively has led to increasing demand for Peptide Cancer Vaccines. Rising focus of key market players for Research and Development (R&D) in Peptide Cancer Vaccine is another factor driving the growth of market.
- The personalized peptide vaccine sub-segment is anticipated to dominate the segment for Peptide Cancer Vaccine Market and growing at a substantial Compound Annual Growth Rate (CAGR). This is owing to improved response rates of the personalized peptide vaccine and safety.
- The breast cancer sub-segment held a market significant share in 2021. This is because of Peptide Cancer Vaccines have proven to be less toxic and more target responsive to breast cancer patients.
- North America is the largest regional segment. This surge is attributed to the rising demand of vaccines in developed economies such as U.S. and Canada. This is attributed to presence of a high number of top pharmaceutical and biotech companies in this region such as Pfizer, Inc., Novartis, Merck, GlaxoSmithKline, and Roche. Moreover, increasing prevalence of cancer is also expected to foster the market growth in this region.
Some of key players in Peptide Cancer Vaccine Market include - TapImmune (US), Merck (US), BrightPath Biotherapeutics (Japan), Sellas (US), BioLife Science (US), Boston Biomedical (US), VAXON Biotech (France), Lytix Biopharma (Norway), ISA Pharmaceuticals (Netherlands), Generex Biotechnology (Canada), OncoTherapy Science (Japan), Enzo Life Science (US), Antigen Express (US), Immatics Biotechnologies (US), Immune Design (US), Immunomedics (US), Galena Biopharma (US), Generex Biotechnology Corporation (Canada), and Ultimovacs (Norway)..
The involvement in the manufacturing and use of peptide vaccine are easy to synthesize, cost-effective, flexibility in application and lower risk of antigen-induced expected to surge demand for the Peptide Cancer Vaccine Market in the near future. Therefore, owing to these advantages, manufacturers are focusing on Research and Development (R&D) to develop Peptide Cancer Vaccines. The development of vaccines has shown extraordinary effects on human health system and has resulted in significant decrease in fatality. Increase in prevalence of chronic disorders including cancer has urged the development of novel targeted therapeutics for their management. In recent times, researchers have exploited the use of vaccines to generate anti-tumour response in management of cancer.
For instance, in April 2018, Boston Biomedical, Inc., involved in next generation cancer therapeutics, initiated dosing of the first patient in each of two clinical studies to evaluate the results of its affectability by using DSP-7888, an investigational cancer peptide vaccine.
North America is expected to dominate the Global Peptide Cancer Vaccine Market in 2021 and is likely to continue the same trend during the forecast period. Increase in government initiatives and support in vaccination provided by the World Health Organization (WHO) is likely to generate demand for Peptide Cancer Vaccines in coming years. Increasing Research and Development (R&D) facilities in countries such as the U.S. & Canada are further adding spot light on the development and use of Peptide Cancer Vaccines.
Asia Pacific is expected to emerge as a potential market with high opportunities, low cost of raw material, growing base of companies providing outsourcing services, flourishing biotech industry, and increasing investments in the Research and Development (R&D) sector. The introduction of peptide-based cancer vaccine has prominently affected the cancer therapy market and has helped against all the challenges to become the most dominant market in the industry.
COVID-19 Impact Analysis
COVID-19 pandemic has affected the global economy. It has also affected the Peptide Cancer Vaccine Market to some extent. Vaccination centers were allotted to COVID-19 patients owing to increase in patients. Stringent regulation passed by the government bodies for maintaining social distancing also impacted the demand for Peptide Cancer Vaccines globally.