Asia-Pacific Cancer Vaccines Market Size

Asia-Pacific Cancer Vaccines Market Analysis

The Asia-Pacific Cancer Vaccines Market size is estimated at USD 2.34 billion in 2024, and is expected to reach USD 4.06 billion by 2029, growing at a CAGR of 11.55% during the forecast period (2024-2029).

The COVID-19 pandemic impacted the growth of the Asia-Pacific cancer vaccines market. For instance, an article published by the National Cancer Institute in January 2022 reported that stunning results were obtained on developing mRNA COVID-19 vaccines that led the researchers to the development of mRNA-based cancer treatment vaccines. The article also reported that dozens of clinical trials were testing mRNA treatment vaccines in people with various types of cancer, including pancreatic cancer, colorectal cancer, and melanoma. Thus, COVID-19 had a significant impact on the growth of the studied market. In the current scenario, it is anticipated that due to advancements in technology and the commencement of various clinical trials, the studied market is expected to witness significant growth over the forecast period.

The factors that are driving the growth of the studied market are the growing burden of cancer, emphasis on early diagnosis of cancer, and technological developments in cancer vaccines. An article published by the journal BMC Cancer in May 2022 reported that the cancer burden has shown a steady increase in India, with an estimated 0.8 million new cancer cases every year. By 2040, nearly 2 million new cancer cases are expected in India. Similarly, another article published by the National Centre for Biotechnology Information (NCBI) in April 2022 reported that, in total, 274,488 new cancer cases were expected to occur in Korea in 2022. Thus, such instances provide insights into an increased demand for cancer vaccines in the country, thereby contributing to the studied market’s growth.

The emphasis on early cancer diagnosis in the region is expected to contribute to the studied market. For instance, an article published by Cancer Biology and Medicine in April 2022 reported that the Chinese government had initiated early screening for breast cancer mainly relies on imaging techniques, most importantly mammography, ultrasound (US), and magnetic resonance imaging (MRI) in many hospitals in the year 2021 for the financially weaker section of the society. The early detection of cancer may lead to early cancer treatment, which may increase the demand for cancer vaccines in the country.

Furthermore, the new vaccine launch may lead to better cancer treatment, thereby contributing to the studied market. For instance, in August 2022, A recent study found that China’s first self-developed HPV vaccine, Cecolin, can offer female adults full immunity against the human papillomavirus (HPV). A group of Chinese researchers analyzed data from 66-month follow-up visits as part of the bivalent vaccine’s Phase 3 clinical trial. The efficacy of this vaccine against high-grade genital lesions, typical symptoms of cervical cancer, reached 100 percent. Thus, such studies are driving the studied market growth.

Thus, the growing burden of cancer, emphasis on early diagnosis of cancer, and technological developments in cancer vaccines may drive the growth of the studied market. However, the presence of alternative therapies may slow down the studied market growth.