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(MoneyNewsWire.Net, March 23, 2018 ) Vaccines embody antigenic elements that strengthen an individual’s immune system by developing adaptive immunity to prevent morbidity from infections. Cancer vaccine is a kind of immunotherapy that boost the body’s natural defenses by stimulating the body immune system to acknowledge and cure cancerous cells. Moreover, cancer vaccines are expected to decrease the prevalence and incidence rate of cancer.
The global Cancer Vaccines Market is estimated to have a value of USD 2.84 billion in 2016. With a CAGR of 17.11%, the market size is expected to grow rapidly to cross USD 6.28 billion by 2022. The market growth is principally driven by and proportional to the rising incidences of cancers.
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Drivers and Restraints:
The cervical cancer section accounted for the largest market revenue and is anticipated to keep up its dominant position throughout the forecast period, because of the rise in number of individuals affected by human papilloma virus infections, which causes about 70% of cervical cancers globally. The recombinant cancer vaccines segment dominated the worldwide market and is predicted to keep up its dominance throughout the forecast period. This is attributed to wide variety of approved cancer vaccines developed by using recombinant technology.
However, longer timelines needed for producing one vaccine restrain the advancements of new vaccines; thereby, hampering the market growth. Additionally, high financial inputs for the development of cancer vaccines decrease their adoption within the market; thereby, damaging the development of the market.
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Regional Overview:
As of now, North America with its increasing incidences of cancer deaths and growing initiatives to increase awareness regarding cancers by governments has led to is biggest share of the global market. Owing to the rising healthcare expenditures, the Asia-Pacific market is anticipated to register the fastest growth during the forecast period.
The major market contributors for the global Cancer Vaccines Market are Aduro Biotech, Advantagene, Advaxis, Agenus, Altor BioScience, Argos Therapeutics, AVAX Technologies, Bavarian Nordic, Biothera, Celldex Therapeutics, CureVac, Galena Biopharma, Genexine, GlobeImmune, Gradalis, Heat Biologics, Immatics, ImmunoCellular Therapeutics, Inovio Pharmaceuticals, ISA Pharmaceuticals, Juvaris Biotherapeutics, NewLink Genetics, Northwest Biotherapeutics, NovaRx, OncoThyreon, Oncovir, Oxford BioMedica, Prsima BioMed, Sotio, Transgene, Ubivac, Vaccinogen and Vaxon Biotech.
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