On a global scale, cancer is the
second greatest cause of morbidity and mortality. Gene mutation is the most
common cause of cancer, however inherited genes are also a factor. It is
separated into carcinomas, lymphomas, leukemias, brain tumours, and sarcomas
based on the type of cell it begins to form cancerous with. According to the
World Health Organization (WHO), cancer is responsible for approximately one in
every six fatalities worldwide, with 70 percent of cancer deaths occurring in
low- and middle-income nations. Furthermore, 70 percent of new cases are
predicted to be diagnosed globally over the next two decades. The introduction
of cancer vaccinations has the potential to dramatically reduce these figures
and provide a cancer-free future for the entire world's population.
Increasing prevalence and incidence of
different cancers is expected to favor growth of the cancer vaccines market
According to the World Health
Organization, around 8.8 million people died from cancer in 2015. Furthermore,
tobacco-related cancers were responsible for 22% of deaths, with lung cancer
accounting for 1.69 million deaths and liver cancer accounting for 788,000.
Colorectal cancer, stomach cancer, and breast cancer are predicted to kill
774,000, 754,000, and 571,000 people globally, respectively. The rising
prevalence of cancer is a major factor fueling the market for cancer
vaccinations.
Cancer is the second most prevalent
cause of mortality in the United States, accounting for approximately one out
of every four fatalities, according to the American Cancer Society.
Development of new vaccines for treatment of
different cancers is expected to fuel growth of the cancer vaccines market over
the forecast period
Manufacturers of cancer
vaccines market concentrating their efforts on producing novel
vaccinations to treat a variety of tumours. They are projected to obtain a
competitive advantage in the market and expand their market share as a result
of this. For example, NEC Corporation and VAXIMM AG collaborated on the
development of novel neoantigen cancer vaccines in November 2019.
In July 2019, Boehringer Ingelheim
International GmbH announced the acquisition of AMAL Therapeutics SA, a firm
that uses its KISIMA technology to develop cancer immunotherapy and vaccines.
The acquisition is intended to improve Boehringer's cancer vaccine portfolio
and platform.
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