Moderna generated total revenues of some 3.2 billion U.S. dollars in 2024, a massive decrease compared to the years before. The drop was mainly due to the decreasing demand for its COVID-19 vaccine Spikevax. Working hard to produce the first 'blockbuster' Moderna is a clinical stage biotech company that is pioneering messenger RNA (mRNA) therapeutics and vaccines. Beside its COVID-19 vaccine, the company is yet to generate revenues from the sale of potential drugs, and this will remain the same until it successfully completes clinical development and obtains regulatory approval for one of its medicines. Like many other biotech companies, Moderna invests significant amounts of money into research and development projects, and annual costs continue to grow. One of the very first COVID-19 vaccines approved Moderna, in partnership with the National Institutes of Health (NIH) and the Coalition for Epidemic Preparedness Innovations (CEPI), was one of the very first to develop a vaccine to fight COVID-19. The vaccine codenamed mRNA-1273 – designed and manufactured in only 25 days – prevents future infections of the novel coronavirus that has caused the pandemic. The Moderna vaccine successfully went through all necessaryclinical phases, and was the second vaccine - after the Biontech/Pfizer vaccine - to be approved for widely usage already in late 2020.

According to a forecast as of March, BioNTech's and Pfizer's vaccine against COVID-19 could generate sales revenues of nearly 22 billion U.S. dollars during 2021. The BioNTech/Pfizer vaccine was the first COVID-19 vaccine to be widely approved and used. German biotech company BioNTech saw a 156 percent growth in its shares in the last 12 months as of March 2021.

Will Moderna be the big winner? Moderna is expected to be the company with the largest sales revenues from a COVID-19 vaccine. Forecasts predict that the company will make around 43 billion U.S. dollars in sales through its vaccine. Interestingly, Moderna was established in 2010 and had never made profit before the pandemic. Thus, the development of the covid vaccine based on the latest mRNA technology will mark a definitive breakthrough for the Massachusetts-based biotech company. Moderna received significant funding through taxpayer money as well as help in research and development from the National Institutes of Health.

Vaccine pricing in a pandemic Drug pricing is always a big issue and this was also the case with COVID-19 vaccines. While some companies, like AstraZeneca, stated early on that prices for the vaccine will be on a non-profit base at least as long as the pandemic is ongoing, others took a more profit-oriented approach. However, even these companies state that their current prices are low special prices, taking into account urgent public health interests, which normally would be much higher. According to several projections, COVID-19 drugs and vaccines could establish a market worth some 40 billion U.S. dollars annually.

In 2021, COVID-19 vaccine Comirnaty produced by Biontech and Pfizer is expected to make 36 billion U.S. dollars in sales worldwide, while Moderna's mRNA-1273 vaccine is expected to make (15 to) 18 billon U.S. dollars. This statistic illustrates the forecasted sales of select major COVID-19 vaccines worldwide in 2021 and 2022.

GlaxoSmithKline generated approximately 9.3 billion U.S. dollars from vaccine sales in 2021, making it the sixth largest vaccine company in the world based on revenue. Before the pandemic and the appearance of COVID-19 vaccines, the British pharmaceutical giant used to be the global leader in vaccines.

Analyzing vaccine sales of leading companies GlaxoSmithKline reported an annual revenue of 34.1 billion British pounds in 2021 – vaccine sales accounted for around 20 percent of that figure. Year-on-year sales of Shingrix, the company’s shingles vaccine, more than doubled to almost two billion British pounds in 2020. The leading vaccine of Merck & Co. is Gardasil/Gardasil 9, which can help in the prevention of certain cancers. The vaccine is one of Merck’s top-selling products and accounted for more than half of the company’s total vaccine sales. Pfizer generated vaccine sales of nearly 43 billion U.S. dollars in 2021, of course heavily boosted by its COVID-19 vaccine sales. The pneumococcal vaccine Prevnar 13/Prevenar 13 was the company’s second product based on revenue during that year.

The race for a coronavirus vaccine Until recently, and despite growth in the global vaccine market, there were only four big pharma companies with substantial vaccine operations. However, the COVID-19 pandemic has highlighted the critical importance of vaccine research and development. Aided by government funding and partnerships, several smaller companies were among the first to enter the race to find vaccines and treatments for the disease. Biotech company Moderna, by applying its pioneering mRNA research to the problem, was among the first to bring a safe and effective COVID-19 vaccine to the broader market.

As of March 9, 2021, there were pre-purchase agreements for over three billion doses of AstraZeneca/Oxford's vaccine. This vaccine is by far the most sought after COVID-19 vaccine, especially due to its ability to be stored at normal refrigerator temperatures, while other vaccines might need ultra cold storage. Although still in phase III of clinical trials and without approval, Novavax's vaccine is the one with the second highest number of orders worldwide.

Global COVID-19 vaccine contracts At the same time, India had managed to secure around 2.2 billion COVID-19 vaccines doses, followed by the European Union which had signed pre-purchase agreements to secure nearly 1.84 billion doses of COVID-19 vaccines, while the United States already secured around 1.21 billion doses. AstraZeneca/Oxford's vaccine accounted for one billion doses of all vaccines secured by India, while also accounting for 300 million doses of all vaccines secured by the EU and the U.S., respectively.

Forecasted sales of COVID-19 vaccines As of November 2021, Comirnaty by BioNTech/Pfizer was the leading COVID-19 vaccine by forecasted sales revenue. It was expected to make around 36 billion U.S. dollars in sales revenue in 2021, followed by 29 billion dollars in 2022. Meanwhile, Spikevax by Moderna was projected to make 18 billion and 22 billion U.S. dollars in 2021 and 2022, respectively. Vaxzevria by AstraZeneca was forecasted to make 1.7 billion U.S. dollars in sales, followed by an additional 1.9 billion dollars by 2022. In contrast to most other biopharmaceutical companies, AstraZeneca had announced to sell its vaccine at almost net cost price.

According to Cognitive Market Research, the global Emerging Cancer Vaccines market size is USD XX million in 2024 and will expand at a compound annual growth rate (CAGR) of 12.50% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.7% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD XX million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.5% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.9% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.2% from 2024 to 2031.
The Genetic vaccines held the highest Emerging Cancer Vaccines market revenue share in 2024

Market Dynamics of Emerging Cancer Vaccines Market

Key Drivers for Emerging Cancer Vaccines Market

Increasing Prevalence of Cancer to Propel the Market Revenue Growth

One of the major factor that propel the emerging cancer market is rising prevalence of cancer across the globe as the traditional therapy such as chemotherapy and radiation therapy often have a significant side-effets. This side effects turn medical personnel for the R&D of cancer vaccines, which anticipated to drive the penetration of market revenue growth. For instance, according to the estimates by American Cancer Society, around 20 million cancer cases were newly diagnosed and 9.7 million people died from the cancer globally in 2022. This number of cancer cases is projected to grow 35 million by 2050. Thus, the aforementioned stats support the market growth.

Rising Clinical Trials to Boost Market Growth

The growing clinical trials are expected to propel the market growth during the forecast period. For instance, in December 2023, nixa Biosciences, Inc., a biotechnology business that specializes in cancer therapy and prevention, recently released updated and fresh positive data from their breast cancer vaccine's Phase 1 clinical study. The trial is being carried out with financial support from a grant from the U.S. Department of Defense in association with Cleveland Clinic.G. Thomas Budd, M.D., a staff physician at Cleveland Clinic Cancer Institute and the study's principal investigator, presented the data at the 2023 San Antonio Breast Cancer Symposium in a poster titled "Phase I Trial of alpha-lactalbumin vaccine in high-risk operable triple negative breast cancer (TNBC) and patients at high genetic risk for TNBC.

Source: https://www.prnewswire.com/news-releases/anixa-biosciences-and-cleveland-clinic-present-positive-new-data-from-phase-1-study-of-breast-cancer-vaccine-302007568.html.

Restraint Factor for the Emerging Cancer Vaccines Market

Complexity of Cancer Immunology to Limit the Market Growth

The complexity of cancer immunology is expected to hamper the market growth during the forecast period. As cancer disease is complex and heterogeneous in nature, and immune systems response to these disease is also very complex in nature. The R&D of the effective cancer vaccines demanding a good knowledge of tumor biology, immune evasion mechanisms, and the interplay between cancer cells and the immune system. The complex nature cancer immunology is the major challenge in identifying suitable vaccine targets and optimizing vaccine design, which may impede the development of theraupeutic treatment of cancer such as vaccines.

Impact of Covid-19 on the Emerging Cancer Vaccines Market

The COVID-19 pandemic had a mix impact on the emerging cancer vaccines market. The mRNA based vaccines manufactured by the global company such as Pfizer-BioNTech and Moderna, has brought attention to the potential of mRNA technology in the production of vaccines. As the same technology is used to modified target cancer-specific antigens, which has increased demand and funding for mRNA-based cancer vaccines. Furthermore, the COVID-19 has raised awareness of the significance of immunotherapy and vaccinations in fight aginst various disease including cancer, in...