Market Size of MEA Cancer Vaccines Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
MEA Cancer Vaccines Market Analysis
The Middle East and Africa cancer vaccine market is expected to register a CAGR of 9.6% during the forecast period.
- COVID-19 significantly impacted the Middle East and African cancer vaccine market since there occurred a delay in the development and availability of cancer vaccines in the studied region due to the lockdown restrictions. As per the article published in October 2021 in PubMed, to make the best use of the limited resources for cancer management in COVID-19 epidemic settings, oncology centers and institutes across the region created clinical practice guidelines and recommendations.
- Additionally, the pandemic affected African cancer screening and diagnostic programs. Cancer screening programs (including mammograms and pap smears) were discontinued in Morocco due to the early rise in COVID-19 cases. However, as the restrictions are lifted, and the pandemic spread reduced, the cancer vaccine market in the Middle East and Africa is expected to witness significant growth due to the rise in cancer cases and the increase in research development in cancer vaccines.
- Factors such as the high prevalence of cancer cases, the increase in cancer vaccine development, and the rise in demand for cancer vaccines across the region are expected to drive market growth. According to IARC estimations, the number of new cancer cases in Africa is estimated to be 1.5 million by 2030. This number is likely to rise to 2.1 million by 2040.
- Furthermore, strategic activities like partnerships, acquisitions, and mergers by key players are expected to increase product availability, which is likely to drive market growth over the forecast period. For instance, in February 2022, Pfizer renewed its partnerships with United Arab Emirates-based cancer patient societies Friends of Cancer Patients (FOCP) and Emirates Oncology Society to mark World Cancer Day. The pharmaceutical company has reinforced its commitment to advance oncology care, encourage early detection, and support cancer treatment in the country.
- Further, in January 2022, South African-born United States billionaire Patrick Soon-Shiong and South African President Cyril Ramaphosa opened a new vaccine manufacturing plant for cancer and COVID-19 vaccine in Cape Town. It aimed to hasten the domestic production of pharmaceuticals and vaccines that will reach patients across the African continent.
- Hence, considering the high prevalence of cancer cases and the increase in strategic activities by the key players, the studied market is expected to witness fair growth over the forecast period. However, adopting alternative therapies in cancer treatment is expected to hinder market growth.
