Market Trends of Therapeutic Vaccine Industry
This section covers the major market trends shaping the Therapeutic Vaccines Market according to our research experts:
Cancer Vaccines Segment is Expected to Witness Growth Over the Forecast Period
Cancer vaccines are a form of immunotherapy that help educate the immune system about what cancer cells "look like" so that it can recognize and eliminate them. Owing to increasing cancer cases, an increase in clinical trials for therapeutic cancer vaccines, and research expenditure by companies and government funding, the cancer vaccines segment is expected to witness significant growth over the forecast period. For instance, as per the research published by the European Journal of Cancer in January 2022, a total of 44 ongoing (i.e., active, not recruiting, recruiting, and not yet recruiting) clinical trials were investigating therapeutic cancer vaccines in breast cancer as of June 23, 2021. Then, overall, 30 (68.2%) clinical trials enrolled patients with triple-negative breast cancer (TNBC), 21 (47.7%) clinical trials were open to patients with HER2-positive breast cancer, and only 15 (34.1%) trials had HR-positive breast cancer as inclusion criteria. Thus, these clinical trials show the engagement of research institutions as well as major pharmaceutical and biopharmaceutical players in the development of cancer therapeutic vaccines. Therefore, it is expected to contribute to the market's growth over the forecast period.
The major companies in the market are prioritizing product development and innovation to bring therapeutic vaccines to the market. For instance, in September 2022, the Central Government of India launched the country's first vaccine against cervical cancer, the quadrivalent human papillomavirus vaccine (qHPV), which has been developed by the Serum Institute of India (SII) and the Department of Biotechnology (DBT). As per the government, "CERVAVAC" is an outcome of a partnership between DBT and the Biotechnology Industry Research Assistance Council (BIRAC), supported by the Serum Institute for indigenous development. In addition to that, in March 2021, the European Commission awarded eTheRNA immunotherapies NV (eTheRNA), a clinical-stage company, a TIGER grant for USD 7.33 million (EUR 6.9 million). The grant was used to speed the development of a unique and potentially therapeutic mRNA cancer vaccine for treating recurrent or metastatic Human Papillomavirus strain 16 positive (HPV16+) cancers such as head and neck cancer, cervical cancer, and anogenital cancer, led by the company. Hence, these increasing mRNA vaccine and therapeutic developments and clinical trials for several cancers are anticipated to grow, thereby driving the segment's growth.
Therefore, owing to the factors mentioned above, the cancer vaccine segment is poised to witness growth over the forecast period.
North America Holds a Significant Share of the Therapeutic Vaccine Market Over the Forecast Period
The North American region is expected to contribute significantly to the market's growth during the study period. Factors such as the growing cancer burden, increasing research and development expenditures, and increasing product launches are predicted to fuel market growth. For instance, according to the American Cancer Society's data for 2022, 1.9 million new cancer cases are projected to be diagnosed in the country in 2022, of which nearly 236,740 are likely to be new lung cancer cases and 287,850 to be new breast cancer cases. The same source also states that 79,000 new cases of kidney cancer and 268,490 new cases of prostate cancer will be diagnosed in the country. This shows a high burden of cancer among the population in the United States. This is expected to boost the demand for the availability of therapeutic vaccines for treatment. This is further expected to drive market growth.
In addition, the government of Canada, through the Immunization Partnership Fund (IPF), reached populations with lower vaccine uptake by enabling informed vaccination choices. In 2020 and 2021, the IPF received USD 45.5 million in additional funding for more than 2.5 years to allow the Public Health Agency of Canada to continue supporting vaccination efforts across Canada. Through these initiatives, the Canadian government is trying to increase vaccine uptake and access to COVID-19 vaccines throughout Canada. Moreover, in May 2021, the government of Canada announced an investment of up to USD 199.16 million in Resilience Biotechnologies Inc. to increase its manufacturing and fill/finish capacity for a few vaccines and therapeutics using novel technology such as mRNA. As a result, healthcare and pharmaceutical expenditures in the countries, as well as rising government activities in the region, are expected to rise in the coming years.Therefore, these regional investments and expenditures are anticipated to drive market growth.
Moreover, strategic activities such as new product development, approvals, collaboration, and acquisition in the region are driving the therapeutic vaccine market's growth. For instance, in May 2021, Sotrovimab, developed by GSK, plc, received emergency use authorization from the Food and Drug Administration (FDA) for the treatment of mild-to-moderate COVID-19 in adults and pediatric patients (12 years of age and older, weighing at least 40 kg) with positive results of direct SARS-CoV-2 viral testing and who are at high risk for progression to severe COVID-19, including hospitalization or death. In addition, in March 2022, Massachusetts General Hospital (MGH), in partnership with NYU Langone Health, started a multi-center phase 2 clinical trial that was launched to investigate a new BCG vaccine treatment for pediatric type 1 diabetes, even in subjects with established disease. Thus, strategic activities by major players are increasing in the region and are anticipated to grow, thus driving the growth of the market studied over the next few years.
Therefore, owing to the aforementioned factors, the North American region is expected to have significant growth over the forecast period.
