Neoantigen Cancer Vaccine Market: Current Analysis and Forecast (2022-2028)

Report Description

Global Neoantigen Cancer Vaccine Market is expected to grow at a significant rate of around 25% during the forecast period. Neoantigen cancer vaccine is an emerging immunotherapeutic approach that utilizes cancer specific antigens (neoantigens) to induce tumor-specific T cells in patients without killing normal cells, thereby achieving personalized precision treatment. The market is growing at a tremendous rate owing to the increase in the incidences of cancers, the rise in the adoption of personalized medicine to tailor patient treatment on an individual level, and huge funding for conducting research and development activities. For instance, in January 2023, Greenlight Bioscience entered into collaboration with EpiVax Therapeutics  to jointly develop and commercialize personalized mRNA-based vaccine candidates for cancers.

1. Hoffmann-La Roche Ltd; AstraZeneca; Merck & Co., Inc.; Gritstone bio; ose-immuno; BioNTech SE; Agenus Inc.; Gilead Sciences, Inc.; BrightPath Biotherapeutics Co., Ltd; and Innovent are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst product, off-the shelf neoantigen vaccine category to hold a dominant share in the market in 2021”

Based on the product, the market is bifurcated into personalized neoantigen vaccine and off-the shelf neoantigen vaccine. Among these, off-the shelf neoantigen vaccine held a dominant share in the market in 2021 as their manufacturing requires less source and time. Moreover, a large number of ongoing clinical trials and their encouraging results are other factors driving the segmental growth. For instance, in May 2022, Nouscom presented the promising result of phase-I trial evaluating NOUS-209, off-the shelf, and personalized viral vectored immunotherapies in combination with PD-1 checkpoint inhibitors for the treatment of solid tumors.

“Amongst neoantigen type, the synthetic long peptide category to witness higher CAGR during the forecast period”

On the basis of neoantigen type, the market is segmented into a nucleic acid, dendritic cell, tumor cell, and synthetic long peptide. The synthetic long peptide category is expected to witness higher CAGR during the forecast period owing to its cost-effectiveness and ability to overcome immune tolerance. Moreover, key players have adopted strategic alliances to design novel peptide neoantigen vaccine, which is also having a positive impact on market growth. For instance, in July 2022, Amazon partnered with Fred Hutchinson Cancer Center to initiate a clinical trial evaluating the safety of personalized neoantigen peptide vaccine in patients with melanoma or breast cancer.

“Amongst application, melanoma category to hold a significant share in the market in 2021”

On the basis of application, the market is segmented into melanoma, breast cancer, gastrointestinal, lung cancer, and others. The melanoma category held a significant share of the market in 2021 due to a surge in the incidences of melanoma. According to the American Cancer Society, approximately 97,610 new melanomas will be diagnosed in 2023. Moreover, the unmet need for targeted therapy and the rising number of ongoing clinical trials is also driving segmental growth. For instance, according to a study published in Nature Medicine, a personalized long-peptide vaccine that can target up to 20 personal neoantigens per patient has been successful in preventing melanoma in patients at high risk for recurrence.

Neoantigen Cancer Vaccine Oil Market Report Coverage

“North America to hold a significant share in the market”

In 2021, North America held a significant share of the global neoantigen cancer vaccine market, which is due to several factors, including the presence of major key players in the region, the surge in the geriatric population and the subsequent increase in the prevalence of cancer, highly developed healthcare system, the higher adoption of technically advanced products, and favorable government policies for the launch of advanced products. For instance, in May 2022, U.S. FDA gave clearance to Nouscom for its investigational new drug (IND) candidate VAC85135, an off-the shelf, viral vector-based cancer vaccine. In addition, the rising investment by key players is also boosting the growth of the market in the region. For instance, in November 2021, Nykode Therapeutics entered into collaboration with Regenron for the development of neoantigen cancer vaccines.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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Research Methodology

Research Methodology for the Neoantigen Cancer Vaccine Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global neoantigen cancer vaccine market were the three major steps undertaken to create and analyze the adoption of neoantigen cancer vaccine in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global neoantigen cancer vaccine market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the neoantigen cancer vaccine market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the neoantigen cancer vaccine market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product, neoantigen type, therapy type, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the neoantigen cancer vaccine market. Further, we conducted factor analysis using dependent and independent variables such as various product, neoantigen type, therapy type, and application of neoantigen cancer vaccine. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the neoantigen cancer vaccine market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global neoantigen cancer vaccine market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the neoantigen cancer vaccine market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global neoantigen cancer vaccine market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions`

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global neoantigen cancer vaccine market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, neoantigen type, therapy type, and application in the global neoantigen cancer vaccine market.

The main objective of the Global Neoantigen Cancer Vaccine Market Study

The current & future market trends of the global neoantigen cancer vaccine market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the neoantigen cancer vaccine market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of product, neoantigen type, therapy type, and application.
• Define and analysis of the regulatory framework for the neoantigen cancer vaccine industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the neoantigen cancer vaccine market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the neoantigen cancer vaccine market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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