Seattle, WA -- (SBWire) -- 02/27/2020 --Cervical cancer is a common type of cancer occurring in women worldwide. A major cause of cervical cancer is infection by human papillomavirus (HPV), which is found in 99% cervical cancer. Human papillomavirus is sexually transmitted. Around 100 types of HPV have been identified to date, of which types 16 and 18 are believed to be responsible for more than 70% of cervical cancers. Cervarix and Gardasil are type of vaccines used for the treatment of cervical cancer.

Increasing prevalence of cervical cancer worldwide is expected to boost the cervical cancer vaccines market growth. According to the World Health Organization (WHO), 2018, cervical cancer is the fourth most frequent cancer in women with an estimated 570,000 new cases and representing 6.6% of all female cancers worldwide and around 85% of deaths occur due to cervical cancer in developing countries.

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However, lack of awareness amongst the people in the low-income and middle-income countries regarding cervical cancer is expected to hinder growth of the cervical cancer vaccines market during the forecast period. Cervical cancer is one of the most common cancers among women of reproductive age in low-income and middle-income countries. For instance, according to The International Agency for Research on Cancer's (IARC) report of 2013, cervical cancer is most notable in low-income countries of sub-Saharan Africa.

Cervical cancer is currently the leading cause of cancer mortality among women worldwide. According to World Health Organization 2018, around 90% of deaths from cervical cancer occurred in low- and middle-income countries. Human papillomavirus (HPV) vaccination has the potential to substantially decrease this burden. The U.S. Food and Drug Administration has approved three vaccines including Cervarix, Gardasil, and Gardasil 9 that aid in preventing HPV infections, which are leading causes of cervical cancer.

The cervical cancer vaccines market size was valued at US$ 2,595.4 million in 2018, and is expected to witness a CAGR of 12.1% over the forecast period (2018 – 2026).

Major governments around the world are focused on taking initiatives to increase awareness among the populace regarding cervical cancer and its treatments. Favorable government initiatives such as free vaccination is also driving growth of the global cervical cancer vaccines market. For instance, according to American Society of Clinical Oncology (ASCO) 2018, the government of Rwanda aims to eradicate cervical cancer by 2020 by immunizing all adolescent girls between 11 and 15 years of age.

High cost associated with the treatment of cervical cancer is expected to hamper growth of the global cervical cancer vaccines market during the forecast period. For instance, according to National Center for Biotechnology Information (NCBI) 2017, the cost of cervical cancer treatment ranged from US$ 368 – US$ 11,400 depending on the type of hospital and treatment involved. HPV vaccination is likely to be very cost-effective with an incremental cost per disability-adjusted life year (DALY) averted in the range US$ 780 – US$ 1,120. However, under list prices for Cervarix and Gardasil in Vietnam, the incremental cost per DALY averted for HPV vaccination can exceed US$ 8000.

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On the basis of region, the global cervical cancer vaccines market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. 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 the U.S. For instance according to National Cancer Institute, 2016, around 289,696 women were suffering from cervical cancer in the U.S. in 2016. Moreover, according to the American Cancer Society's estimates, around 13,170 new cases of invasive cervical cancer will be diagnosed and 4,250 death of women will be registered from cervical cancer in the U.S. in 2019.

Asia Pacific is expected to foresee a rapid growth in the cervical cancer vaccines market. The market in Asia Pacific is expected to gain momentum during the forecast period, owing to increasing approval of cervical cancer vaccines by the regulatory bodies. For instance, in 2016, China Food and Drug Administration (CFDA) approved Cervarix as the first HPV vaccine licensed for use in China against cervical cancer to meet the unmet needs of prevention of cervical cancers among Chinese population. According to National Center for Biotechnology Information 2018, China being the world's largest developing country, exhibits a high incidence of cervical cancer with approximately 130,000 new cases each year.

Key players operating in the cervical cancer vaccines market include, GlaxoSmithKline PLC and Merck & Co. Inc.

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