OR WAIT 15 SECS
November 17, 2016
The cancer vaccines market is set to almost triple from $2.5 billion in 2015 to $7.5 billion by 2022, according to business intelligence provider GBI Research.
The company’s latest report 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.
GBI analyst Adam Bradbury 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.”
Generic penetration is currently non-existent in the cancer vaccines market, further aiding market growth. Indeed, therapeutic vaccines are a relatively new form of cancer treatment, with the first FDA approval granted to Provenge in 2010. Prophylactic vaccines have not yet faced patent expiry, meaning the threat of generics/biosimilars restricting revenue growth in this market during the forecast period is low.
Only one cancer vaccine achieved blockbuster revenue status in 2015, namely Merck’s Gardasil, a prophylactic vaccine that inoculates against human papillomavirus. GBI Research expects that two therapeutic vaccines, Novartis’ tisagenlecleucel-T and Kite Pharma’s KTE-C19, will also generate blockbuster revenues by 2022.