Cancer vaccines market set to triple by 2022, new report indicates
The cancer vaccines market is set to almost triple from $2.5 billion in 2015 to $7.5 billion by 2022, representing a strong compound annual growth rate of 16.93%.
The latest report from business intelligence provider GBI Research states that therapeutic vaccines, which are a type of immunotherapy, and have a lower toxicity than traditional chemotherapies, will increase the overall survival of poor-performance-status patients, and enable more rounds of treatments to be given, thus driving market growth.
Adam Bradbury, associate analyst for GBI Research, explains: “The cancer vaccines space will see such impressive growth over next decade for a number of reasons. There is a fairly large cancer vaccine pipeline, with over 1,200 products being developed, accounting for almost 17% of the overall oncology pipeline, the largest of any therapy area.”
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