The global cancer vaccines market size was valued at USD 6.43 billion in 2021. The market is expected to grow from USD 7.32 billion in 2022 to USD 19.12 billion by 2029, exhibiting a CAGR of 14.7% during the forecast period. The market is expected to exhibit a CAGR of 14.7% during the forecast period. Increasing cancer cases and strong investments in prophylactic and preventive vaccines may propel market progress. Fortune Business Insights™ provides this information in its report titled “Cancer Vaccines Market, 2022-2029.”
Get Sample PDF Brochure:https://www.fortunebusinessinsights.com/enquiry/sample/cancer-vaccines-market-106958COVID-19 Impact:Manufacturing Restraints Hindered Industry Growth During the Pandemic
This industry was negatively affected during the COVID-19 pandemic, attributable to manufacturing restrictions. The sudden spike in COVID-19 infections provoked governments to impose strict restrictions on manufacturing, thereby affecting cancer vaccines’ production. Further, travel and transport restrictions hindered the availability of raw materials required to produce vaccines. However, the adoption of part-time shifts, reduced capacities, and industrial automation allowed companies to balance their costs during the pandemic.
Hospitals Segment to Lead Due to Rising Outpatient Visits and Easy Availability of Vaccines in Hospitals
Based on distributional channel, the market is classified into hospitals, government suppliers, and others. The hospitals segment is expected to lead due to rising outpatient visits and easy availability of vaccines in hospitals.
Regionally, the market is grouped into North America, Europe, Asia Pacific, and the Rest of the World.
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