by Therapeutic vaccines are biological agents that treat or prevent disease by causing a specific immune response against a disease-causing pathogen or tumor cell. Therapeutic vaccines play an important role in immunotherapy against various cancers, infectious diseases, and neurological disorders. A few examples of approved therapeutic vaccines include Provenge for prostate cancer, Gardasil and Cervarix for Human Papillomavirus (HPV) infection, and RTS,S/AS01 for malaria. The global therapeutic vaccines market is driven by the strong product pipeline, rising prevalence of cancer and infectious diseases, and increasing investment in R&D activities.
The global therapeutic vaccines market is estimated to be valued at US$ 2.68 Bn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
“Therapeutic Vaccines Market is Expected to be Flourished by Innovative Pipeline Products”: Rising incidence of cancer and infectious diseases along with increasing adoption of therapeutic vaccination approach are some of the major drivers propelling the growth of global therapeutic vaccines market. According to World Health Organization (WHO), cancer is one of the leading causes of death worldwide, accounting for nearly 10 million deaths in 2020. Similarly, infectious diseases such as HIV/AIDS, tuberculosis, and malaria pose significant burden and impact millions of lives globally each year. Development of innovative pipeline products targeted against cancer and infectious diseases will further boost the market growth over the forecast period. Some of the promising pipeline candidates in cancer therapeutic vaccines include vaccines targeting various cancers such as prostate cancer, melanoma, non-small cell lung cancer (NSCLC), bladder cancer and ovarian cancer. Similarly, for infectious diseases, vaccines targeting HIV, Hepatitis B, respiratory syncytial virus (RSV) and others are under development which will expand therapeutic applications if approved.
The innovative pipeline is driven by increasing R&D investment from key market players. Improved understanding of disease pathogenesis at molecular level along with advances in immunology and vaccine technologies have enabled researchers to design novel therapeutic vaccination strategies. Growing clinical evidences validating efficacy and safety of therapeutic vaccination approach will further encourage pharmaceutical companies as well as niche players to invest more in R&D. This in turn will strengthen the product pipeline and launch of novel therapeutic vaccines in the market. All the above mentioned factors will play a crucial role in flourishing the global therapeutic vaccines market over the forecast period.
Segment Analysis
The Therapeutic Vaccines Market Analysis can be segmented based on disease type, technology, and end-user. Based on disease type, the cancer segment dominates the market and accounted for over 30% share in 2022. Cancer prevalence is increasing globally and is a leading cause of death. Therapeutic vaccines help boost the immune system to fight cancer cells. The infectious diseases segment is expected to witness high growth during the forecast period due to rising incidence of infectious diseases and development of novel vaccines.
PEST Analysis
Political: Government support in the form of funding and favorable regulations promote the development and adoption of therapeutic vaccines. For instance, the US government funds the Cancer Moonshot initiative that supports cancer research including therapeutic vaccine development.
Economic: The global economic burden of diseases like cancer and infectious diseases is huge. Development of effective and affordable therapeutic vaccines can reduce this burden on healthcare systems.
Social: Rising health awareness drives the demand for novel treatment options. People are increasingly seeking preventive healthcare measures like vaccination for protection against diseases.
Technological: Advancements in vaccine technologies like RNA vaccines, viral vector vaccines, and antigens engineering enable development of effective therapeutic vaccines against complex conditions like cancer and autoimmune diseases.
Key Takeaways
The global therapeutic vaccines market is expected to witness high growth over the forecast period supported by rising disease prevalence, technological advancements, and increasing government funding for vaccine research and development. The global Therapeutic Vaccines Market is estimated to be valued at US$ 2.68 Bn in 2024and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030.
Regional analysis indicates North America dominates currently due to presence of major players and high healthcare spending. The Asia Pacific region is anticipated to be the fastest growing market led by China and India due to rising healthcare investment, expanding healthcare infrastructure, and increasing focus on indigenous vaccine production.
Key players operating in the therapeutic vaccines market are AMR India Limited, Carmega PBC, Celldex Therapeutics., Emergent Biosolutions Inc., and GLaxoSmithKline plc. These players are engaged in vaccine development programs against various cancer, infectious diseases and are investing in tissue culture, new adjuvant development and manufacturing capabilities expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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