New York 22 Sep 2021: The Japan Cancer Vaccines market size is expected to reach USD 1,470.4 Million by 2026 according to a new study by Polaris Market Research. The report “Japan Cancer Vaccines Market Share, Size, Trends, Industry Analysis Report By Type (Prevention Vaccines, Treatment Vaccines, Oncolytic Viruses); Indication (Prostate, Cervical, Others); By Patient Type (Pediatric, Adult); By Regions, Segments & Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.
For several years now, Japan has been experiencing a boom in the incidence of cancer patients. Cancer is one of the major causes of death in Japan. As cancer prevention, the people in Japan mainly follow their traditional low-fat diet which has proven to be effective however, there are certain limitation to this as high salt in the Japanese diet can act as a potential risk for development of stomach cancer. Though Japanese government is promoting various new ways of prevention and treatment of the disease, implementation of cancer vaccines in the healthcare regime is a must and it is necessary for the government to take steps towards usage of these vaccines in Japan.
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In 2013, HPV vaccines were added to the national vaccine program in Japan. The same year, several complains were registered proving the side effects associated with cancer vaccines in Japan. This was the major reason for the suspended its recommendation and usage in Japanese industry. Before the suspension around 70% of adolescent girls received the immunization as prevention from cervical cancer. However this number dropped to less than 1% after the health ministry suspended its active recommendation after reports of side effects including muscle pain, sleep disorders, and light and sound sensitivity. Furthermore, companies also restrict from opting to manufacture cancer vaccines as it is a time consuming process with high cost of development and initial setup. These and many such factors are expected to hinder the market growth of cancer vaccines in the Japanese industry during the forecast period.
Japanese government and many local and international companies are taking initiatives to develop the cancer vaccine industry in this region. In order to promote and develop regenerative medicine and cell therapy in Japan, the Act on the Safety of Regenerative Medicine and the Revised Pharmaceutical Affairs Law was enforced in November 2014. Also, Advanced Medical Care is accepted in Japan to evaluate a medical technology at one’s own expense, together with the National Health Insurance, at institutes and hospitals approved by the MHLW. The technological intervention includes regenerative medicine and immunotherapy, the safety and efficacy of which have not been established by previous clinical studies.
Furthermore, many companies are conducting clinical trials to develop and launch innovative vaccines that could help the cancer patients. Companies such as Cytlimic, Aduro Biotech, Oncolys BioPharma, and Otsuka are some of them who have initiated many projects focusing on enhancing their cancer vaccine product line. These initiatives have attracted international funding and thus has created significant growth opportunities for established and emerging players in the global and Japanese cancer vaccines market. The key players in the market include Aduro BioTech, Inc., Astellas Pharma, Inc., Bristol-Myers Squibb, tella, Inc., Oncolys BioPharma Inc., CYTLIMIC, Takeda Pharamceutical, and Takara Bio among others.
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The Cancer Vaccines Market is expected to grow at a CAGR of 14% from 2020-2030, according to a new research report by Next Move Strategy ConsultingA vaccine is a biological preparation that is introduced in human body in order to acquire immunity against diseases.
Cancer is a chronic disorder that leads to uncontrolled cell growth & conquer other tissues in the body.
These antibodies then recognize the cancer cells and suppress its growth.According to the report, the high prevalence rate of cancer and growth in human papilloma virus (HPV) infections are the major factors driving the market growth.
Moreover, development in healthcare facilities supported by the government funding & high investments for the development of new cancer vaccines is also expected to amplify the market growth.
Other factors such as huge product pipeline and rising demand for cancer vaccines can change the market trends.However, high cost of cancer vaccines owing to the high R cost and stringent regulatory process for approval is likely to inhibit the market growth.
Moreover, rising demand for therapeutic vaccines and increasing approval of new vaccines are expected to provide numerous opportunities to the market players in the coming few years.On the basis of technology, the cancer vaccines market share is segmented into subunit vaccines, conjugate vaccines, inactivated vaccines, live attenuated vaccines, and recombinant vector vaccines.
