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US cancer vaccine market to increase at a CAGR of 5.3%

Industry Sector

Healthcare and Medical

Published

20 September 2012

Author

Mike King

Type of News

Market

The US cancer vaccine market has been forecast to increase at a compound annual growth rate (CAGR) of 5.3% over the next six years, increasing from a 2010 value of US$12.8 billion, to be worth US$17.4 billion by 2018.

The US cancer vaccine market is a growing market with great opportunities for entry. Approximately 1.5 million Americans are being diagnosed with cancer annually, and the annual overall cost of the disease is estimated to be $230 billion.

Cancer vaccines are highly researched today owing to growing cancer incidences and an urgent need to control and prevent the massively penetrating disease. Of this industry, the US represents a 49% share of the global cancer vaccines market.

The prophylactic vaccines currently available to the market include Merck's Gardasil, GSK's Cervarix, and several other Hepatitis B vaccines, while the only therapeutic vaccine in the market is Dendreon's Provenge.

Therapeutic vaccines currently account for approximately a 15% share of the US cancer vaccine market but this is expected to increase drastically post 2016 with such high focus on developing therapeutics for other cancer types.

Merck and GSK are expected to continue to be undefeated market leaders in the prophylactic cancer segment as the launch of a new cancer vaccine is unlikely in the next three years.

For more information on the US cancer vaccine market, see the latest research: US Cancer Vaccine Market Report

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