Global Cervical Cancer Vaccines Market to Surpass US$ 6 Billion by 2026

SEATTLE, Aug. 22, 2019 /PRNewswire/ -- According to Coherent Market Insights, the global cervical cancer vaccines market was valued at US$ 2,595.5 million in 2018, and is projected to exhibit a CAGR of 12.1% during the forecast period (2019 – 2026).

Key Trends and Analysis of the Global Cervical Cancer Vaccines Market:

The cervical cancer vaccines market size is expected to witness significant growth in the forecast period, owing to increasing government initiatives regarding cervical cancer vaccines. For instance, in 2018, The Centre for Health Protection (CHP) of the Department of Health (DH) of Hong Kong announced that from 2019 school year, eligible female primary school students of suitable ages will be provided with human papillomavirus (HPV) vaccine under the Hong Kong Childhood Immunization Program (HKCIP) to prevent cervical cancer in Hong Kong.

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Moreover, increasing prevalence of cervical cancer worldwide is also expected to drive the market growth. For instance, according to the World Health Organization 2017, cervical cancer is responsible for over 250 000 deaths of women worldwide and 85% of these deaths occur in low- and middle-income countries. Moreover, cervical cancer is the fourth most common cancer in women worldwide. The mortality rate can be prevented with adequate prevention measures such as vaccination of girls against HPV.

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Increasing research and developments with increasing approvals expected to fuel the growth of the market. In April 2019, National Cancer Institute (NCI) and PapiVax Biotech, Inc. undergoing phase I study on TA-CIN Vaccine for the treatment of HPV16 Associated Cervical Cancer.

 In 2018, the U.S. Food and Drug Administration approved a supplemental application for Gardasil 9 (HPV 9-valent vaccine, recombinant) expanding the approved use of the vaccine to include women and men aged 27 through 45 years. Such regulatory approvals are also expected to contribute to the market growth.

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Key Market Takeaways:

• The global cervical cancer vaccines market is projected to witness a CAGR of 12.1% during the forecast period (2018 – 2026), owing to development of affordable vaccines for the prevention of cervical cancer in low- and middle-income countries. For instance, in 2018, the World Health Organization (WHO) developed a generic costing and planning tool for cervical cancer prevention and control to assist low- and middle-income countries (LMICs),
• North America is expected to hold dominant position in the global cervical cancer vaccines market during the forecast period, owing to increasing prevalence of cervical cancer in Canada. For instance, according to the Canadian Cancer Society's report in 2017, an estimated 1,550 new cases of cervical cancer were diagnosed in Canada and 400 deaths of women were recorded due to the disease.
• Major players operating in the global cervical cancer vaccines market include, GlaxoSmithKline plc. and Merck & Co. Inc.

To know the latest trends and insights prevalent in this market, click the link below: https://www.coherentmarketinsights.com/market-insight/cervical-cancer-vaccines-market-2931

Report Segmentation:

• Global Cervical Cancer Vaccines Market , By Product Type:
• Gardasil
• Gardasil 9
• Cervarix
• Global Cervical Cancer Vaccines Market, By Distribution Channel:
• Hospitals
• Clinics
• Government Entities
• Global Cervical Cancer Vaccines Market, By Region:
• North America
• By Country:
• U.S.
• Canada
• Europe
• By Country:
• U.K.
• Germany
• Italy
• Spain
• France
• Russia
• Rest of Europe
• Asia Pacific
• By Country:
• Australia
• India
• China
• Japan
• ASEAN
• South Korea
• Rest of Asia Pacific
• Latin America
• By Country:
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Middle East
• By Country:
• GCC
• Israel
• Rest of Middle East
• Africa
• By Country/Region:
• South Africa
• Central Africa
• North Africa
• Company Profiles

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SOURCE Coherent Market Insights