A strong pipeline could change the face of the cancer vaccines market and ignite explosive growth, says a new report released by healthcare business analysts GlobalData. The report expects a series of treatments due to hit the market over the next few years to multiply the value of the cancer vaccines industry from $1,646.7 million in 2010 to $7,075.1 million by 2018, representing a Compound Annual Growth Rate (CAGR) of 20 per cent.
In particular, the therapeutics portion of the market is set to expand massively at a CAGR of 78.1 per cent, from $48 million in 2010, to $4848.6 million by the end of 2018.
The other half of the cancer vaccine industry is made up of the prophylactic vaccine sector. This is also expected to grow, but at the less sizeable CAGR of 4.2 per cent, from $1,598.7 million in 2010 to $2,226.6 million by 2018. This section of the market enjoyed a rapid expansion period between 2006 and 2010, when its value shot up to $1,598.7 million.
The prophylactic cancer vaccine sector benefitted greatly during this window thanks to the launch of two products: Gardasil, which was approved across Europe and the US in 2006, and Cervarix, a vaccine that hit European markets in 2006, followed by the US and Japan in 2009. GlobalData expects growth to continue in this sector, though at a less exponential rate, with the label extension of Gardasil and the introduction of a new first-in-class vaccine, V503.
Between 2006 and 2010, the therapeutic market was almost non-existent, with Provenge, a dendritic cell vaccine used in the treatment of advanced prostate cancer, the only available option, and only in the US. The boost in value of this market will come with the introduction of vaccines such as Allovectin -7 and OncoVEX for the treatment of Melanoma, BiovaxId (Idiotype vaccine therapy) for follicular non-Hodgkin lymphoma, and GV1001 for advanced pancreatic cancer.
Both the prophylactic and therapeutic cancer pipelines boast vaccines with better safety and tolerability profiles, and, as vaccines can potentially be used in combination with chemotherapy, radiation or surgery, these candidates are considered to be very promising.
EP News Bureau – Mumbai