# Market for cancer vaccines would increase by 10.7% CAGR by 2030
According to New Strategy Consulting, the global **[Cancer Vaccine Market](https://www.nextmsc.com/report/cancer-vaccines-market)** was valued at USD 5.75 billion in 2022, and is expected to reach USD 13.4 billion by 2030, with a CAGR of 10.7% from 2023 to 2030 driven by rise in initiatives by government and international organizations to combat cancer.

Growth in advancements in the field of medical sciences that include the use of liquid biopsy that help in the early diagnosis of cancer in turn boost the market growth. Moreover, the use of artificial intelligence (AI) in diagnosing various cancer and also in developing drugs and vaccines has led to a rapid increase in the demand for cancer vaccines.

However, high cost of cancer vaccines acts as a restrain for growth of the cancer vaccine market. However, use of nano sensors in diagnosing cancers, such as oral fluid nano sensor test (OFNASET), which is a point-of-care sensor that helps in detecting multiplexed analytes for oral cancer in saliva through combination of mRNA and protein electrochemical detection, is expected to create numerous opportunities for the market growth during the forecast period.

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By technology, the market is classified into dendritic cells, recombinant vaccines, antigen/adjuvant vaccines, whole cell vaccines, and viral & DNA vaccines. On the basis of type, the market is bifurcated preventive vaccines and therapeutic vaccines.

Dendritic cells (DC) are used in clinical trials as cellular mediators for therapeutic vaccination to diagnose patients with cancer. DC vaccination is used in treatment of hematological malignancies, such as acute myeloid leukemia, myelodysplastic syndromes, as well as other nonleukemia malignancies.

These vaccines induce specific immune responses that can selectively eliminate the target cancer cells. The mechanism of DC vaccines is to stimulate and support an immune response aimed exclusively at the elimination of tumor cells in the body.

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The report stated that North America has been the leading consumer of cancer vaccines, owing to presence of FDA approved vaccines such as BCG live and sipuleucel-T in the region. Moreover, growth in cases of lung cancer in the region, owing to high consumption of alcohol and smoking habits lead to rise in demand for cancer vaccines.

According to the American Cancer Society about 1.9 million cancer cases were diagnosed and 608,570 cancer deaths occurred in the United States in 2021.

Europe is expected to witness a steady growth in the coming years, owing to factors such as developed medical infrastructure and rise in health awareness among people. Moreover, presence of local companies that use advanced medical technologies based on artificial intelligence (AI) for manufacturing cancer vaccines boost the market growth. For instance, in January 2021, Transgene, a biotech company, which designs and develops virus-based immune therapeutics against cancer, announced that a patient with head and neck cancer was provided with a dose of TG4050, an innovative individualized immunotherapy prepared by the company. This novel therapeutic vaccine is based on Transgene’s myvac technology platform, which uses cutting-edge AI capabilities to customize treatment for patients.

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Some of the leading key players in the cancer vaccine market include GlaxoSmithKline plc, UbiVac, Inc, Biontech, Dendreon Pharmaceuticals, Inc, Dynavax Technologies Corporation, Merck & Co., Inc, Imugene Limited, Moderna, Inc, Northwest Biotherapeutics, Inc., and Oxford Vacmedix.

**Related Reports:**
**[Cancer/Tumor Profiling Market](https://www.nextmsc.com/report/cancer-tumor-profiling-market)**
**[Cancer Gene Therapy Market](https://www.nextmsc.com/report/cancer-gene-therapy-market)**
[**Cancer Drug Market**](https://www.nextmsc.com/report/cancer-drug-market)

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