The global cancer vaccines drug pipeline market is expected to witness significant growth over the forecast period. Rising vaccines usage combined with other therapies is expected to drive market growth over the forecast period. Growing occurrence of different types of cancer and the introduction of new vaccines is anticipated to raise product demand over the next seven years.
Factors such as increasing number of cancer patients coupled with rising awareness towards benefits of vaccines is expected to steer cancer vaccines drug pipeline industry growth over the foreseeable future. Growing global geriatric population along with increasing disposable income in emerging economies are also anticipated to drive industry penetration in the region.
Increased usage of tobacco products and alcohol consumption along with an unhealthy diet and lack of physical activity are the main cancer risk factors prevalent worldwide. According to a post by WHO, Cancer is a leading cause for global deaths and is expected to rise by about 70% over the next two decades. Prostrate, cervical, lung, and breast cancers are common forms with less diagnostic and therapeutic techniques commercialized for the treatment.
Growing survival rate among cancer patients through a combination of vaccines with pharmacotherapeutics is anticipated to raise advanced cancer drugs demand over the next seven years. Dendritic cells are taken from a patient's immune system and then treated with chemicals before being injected back into the patient through vaccines. These cells enhance the immune response against the antibody cells and stimulate the other cells in the immune system to fight the cancerous cells.
Presence of promising late-stage pipeline drugs along with continuous development of potent drugs and increasing R&D spending of key pharmaceutical companies may be attributed to commercializing various medications promoting cancer vaccine drug pipeline market growth. For instance, Merck & Co. Ltd. Employs robust late-stage pipeline technology in order to successfully launch new products into the market to address the major unmet medical needs.
Vendors in the industry have come up with various consumer favorable initiatives such as patient-assistance programs through which the patients are provided with free or reduced-cost branded medications to those who could not afford them. Medication affordability depends on various factors such as economic downturn, increase in drug prices, or a growing market for expensive drugs.
The number of vaccine patients in clinical trials worldwide is expected to double over the next seven years owing to a variety of factors such as annual recurrence, prevalence, pandemic potential, resistant bacterial strains, and epidemic. Growth in vaccine R&D is driven by new technologies, vaccines targeting unmet medical needs, and increased health care spending in the developing world.
The sensitivity and complexity of cold chain management is expected to pose a major challenge to cancer vaccine drug pipeline industry over the next few years. These vaccines are thermo-sensitive and need to be stored safely and distributed within an efficient cold-storage chain. To ensure the quality of the cold-chain all the firms assess the logistics and conditions of cold-chain systems. The companies also undertake training workshops to manage vaccine stock and monitoring storage procedures.
The cost of developing new drugs is enormously high typically costing hundreds of millions and is expected to reach 1 billion dollars over 15 years. Considering the risk and thereby filtering out drugs that do not have growth in the market and may not eventually get approved is essential to the pharmaceutical industry to avoid additional cost to the firms.
The cancer vaccine drug pipeline product commercialization consists of four stages including discovery, pre-clinical, clinical trials, and marketing (or post-approval). Pharmaceutical companies usually have a number of compounds in their pipelines. The drugs follow each and every stage and then are introduced in the market. The pipeline consists of the drugs in the development stage or testing stage and these includes a new variant and application of existing drugs.
Cancer vaccines have been segmented on the basis of product into therapeutic and prophylactic vaccines. The prophylactic market is expected to witness high growth over the forecast period as it prevents cancer from developing in the human body in the initial stages. The therapeutic vaccine industry is anticipated to witness substantial growth over the next seven years owing to rising number of cancer patients and long known viability of these products. The drug value assessment process includes the size of the potential market, market share the drug is expected to gain, the Food and drug administration (FDA) approval risk.
Vaccines contribute a minor share of total revenue in cancer treatment, however, the drug pipeline is anticipated to witness high growth over the forecast period. This is mainly because less number of products are acknowledged in the market after the final testing and also decreased sales from the approved products in economies of Central Africa and Southeast Asia.
Germany, the U.S., and Japan represent the largest markets for cancer vaccine manufacturers. Countries such as India, China, and Thailand are expected to witness the highest growth in the next seven years owing to increasing healthcare spending and consumer awareness.
Major players operating in the global cancer vaccines drug pipeline market include Eisai Co. Ltd, F. Hoffmann-La Roche Ltd, Arbor Pharmaceuticals LLC, Bristol-Myers Squibb Co, and Merck & Co. Ltd. There is a high competition among global players. Companies have been adopting various strategies such as product innovation or licensing technology platforms for vaccine development or alternative routes toward vaccine administration.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for Covid-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon. At the moment, the WHO has not prescribed any of these approaches, neither they have commented if one is better than the other. The report will account for Covid19 as a key market contributor.