Increasing R&D Studies to Develop Cancer Vaccines Attributed to Spike in Number of Cancer Patients
- Financialnewsmedia.com News Commentary
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PALM BEACH, Fla., Feb. 18, 2021 /PRNewswire/ -- Ovarian cancer and its rising incidence rate is a growing concern worldwide and the rising incidence of ovarian cancer will be driving the ovarian cancer drugs market for years to come. Ovarian cancer is regarded as one of the most common types of cancer among women. It accounts for more deaths than any other cancer of the female reproductive system, while it ranks 5th in overall women deaths due to cancer. This type of cancer is rarely diagnosed at an early stage, making treatment at an advanced stage difficult. According to American Cancer Society estimates, risk of any woman acquiring ovarian cancer in her lifetime is 1 in 75, while her chance of death due to ovarian cancer is 1 in 100. Ovarian cancer is more prevalent among elderly women, making women over 55 a high-risk population. A report from Allied Market Research projected that the global cancer vaccines market was valued at $4,188 million in 2019, and is projected to reach $7,303 million by 2027, registering a CAGR of 12.6% from 2020 to 2027. The report said that: "(The) growth of the cancer vaccines market is attributed to rise in number of cancer patients across the globe. Furthermore, rise in public awareness toward benefits of cancer vaccines, surge in demand for cancer vaccines, and rise in adoption rate of preventive and therapeutic vaccines are other factors that contribute toward growth of the market." Active biotech companies in the market this week include