The global neoantigen cancer vaccine industry analysis by BIS Research projects the market to grow at a significant CAGR of 77.73% during the forecast period 2024-2031. The neoantigen cancer vaccine market is expected to generate $35.5 million in revenue in 2024, owing to the expected launch of the first neoantigen vaccine, DC vaccine in the market.
The neoantigen cancer vaccine market growth has been primarily attributed to major drivers in this market, such as rising prevalence of cancers, increasing adoption of personalized medicine to tailor patient’s treatment on an individual level, and significant external funding for executing research and development exercises. However, significant challenges are restraining the market growth. These challenges include the expected higher cost of personalized cancer vaccines, hurdles in clinical development, and payer uncertainty and outcome-based pricing