SOURCE: MarketResearch.com

MarketResearch.com

November 01, 2011 09:15 ET

Cancer Vaccines Market to Grow 13% Annually Through 2018

ROCKVILLE, MD--(Marketwire - Nov 1, 2011) - MarketResearch.com has announced the addition of the new report "Cancer Vaccines - Pipeline Assessment and Market Forecasts to 2018" to their collection of Vaccines market reports. For more information, visit http://www.marketresearch.com/GlobalData-v3648/Cancer-Vaccines-Pipeline-Assessment-Forecasts-6620178/

The report estimates that the global cancer vaccines market was worth $3,483.0m in 2010, after increasing at a compound annual growth rate (CAGR) of 63.7% during 2006-2010.

During 2010-2018, the market is expected to record a CAGR of 12.7%, to reach $9,077.9m by 2018. This high growth is attributed to the increasing patient population of cancer. Cancer is the most common cause of death globally. The high growth rate is due to expected introduction of promising vaccines during the forecast period.

The cancer vaccines market is divided into the prophylactic cancer vaccines market and the therapeutic cancer vaccines market. The prophylactic cancer vaccines market experienced high growth in the historic period due to the launch of Gardasil (human papillomavirus quadrivalent (types 6, 11, 16, and 18) vaccine, recombinant) and Cervarix (human papillomavirus bivalent (types 16 and 18) vaccine, recombinant). Gardasil was approved in the US and Europe in 2006 and in Japan in 2011.

Similarly, Cervarix was launched in Europe in 2008 and in the US and Japan in 2009. The Prophylactic cancer vaccines market is expected to grow in the forecast period to 2018 due to the label extension of Gardasil. In December 2010, the FDA approved a new indication for Gardasil, anal cancer and anal intraepithelial neoplasia grades 1, 2 and 3 in males and females between the age of 9 and 26, which is expected to drive the prophylactic cancer vaccine market.

The expected launch of the first-in-class vaccine, V503 in 2014, is also expected to drive the prophylactic cancer vaccine market during the forecast period. V503 is a multivalent vaccine and is believed to provide greater protection from many strains of HPV (human papillomavirus) than the existing vaccines in the market, which are either tetravalent or bivalent, thereby lowering the risk of cervical cancer.

The prophylactic cancer vaccine market will grow during the forecast period but will not show significant growth because V503 will uptake the market of Gardasil and there will be little change in the market.

For more information, visit http://www.marketresearch.com/GlobalData-v3648/Cancer-Vaccines-Pipeline-Assessment-Forecasts-6620178/

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