Middle East & Africa Cancer Vaccines Market was valued at US$ 252.46 million in 2019 and is projected to reach US$ 779.60 million by 2027; it is expected to grow at a CAGR of 15.5% during the forecast period.
Increasing the incidence of cancer, the emergence of market players involved in the market for cancer vaccines and robust research and development activities are likely to be key factors driving the growth of this market in the Middle East & Africa region. However, frequent advances in manufacturing technology and the longer time required to produce a single vaccine are expected to hinder the growth of the market during the forecast period.
The Middle East & Africa Cancer Vaccines Industry is split into the Germany, France, UK, Spain, and Italy. Germany had the largest market share in the Middle East & Africa Cancer Vaccine market in 2019. Increasing the need to diagnose and cure cancer, growing competition between market players, high R&D spending and government grants to research institutions to develop new therapies are some of the key factors driving market development.
With an increasingly rapid rise in cancer prevalence, the government initiative and the introduction of the various vaccines will fuel the segment growth in the forecast era.
Based on technology, the Cancer Vaccines market is segmented into indendritic cells cancer vaccines, recombinant cancer vaccines, antigen cancer vaccines, whole cell cancer vaccines, viral vector cancer vaccines. The in recombinant cancer vaccinessegment held the largest share of the market in 2019. Moreover,recombinant cancer vaccinesis estimated grow at the highest CAGR in the market during the forecast period.
Based on type, the market is segmented into preventive cancer vaccines, therapeutic cancer vaccine. Based on indication the market is bifurcated into cervical cancer, prostate cancer, and other indications.On the basis of end use the market is segmented into pediatrics, adults.
The World Health Organization (WHO), Food and Drug Administration (FDA), Centers for Disease Control and Prevention (CDC), and Pfizer Inc., Sanofialong with company websites, are a few of the major primary and secondary sources referred for preparing this report.