Therapeutic Vaccines Market to grow with a CAGR of 9.68% through 2028
Increasing prevalence of various chronic ailments
and increase in the geriatric population is expected to drive the Global Therapeutic
Vaccines Market growth in the forecast period, 2024-2028.
According to TechSci Research
report, “Therapeutic Vaccines Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018–2028F”. Global Therapeutic Vaccines Market stood
at USD 27.81 Billion in 2022 and is anticipated to project robust growth in the
forecast period with a CAGR of 9.68% through 2028. Increased awareness of the
potential value of vaccination in developed, developing, and underdeveloped
regions is a key driver of the therapeutic vaccine market. Other factors
contributing to market growth include government funding for vaccine development,
the rising prevalence of diseases, and increased R&D expenditure by
businesses. Governmental and humanitarian organizations have shown significant
interest in disease prevention through vaccination, leading to the adoption of
new products and strategies, and the formation of a donor market that accounts
for the largest share of the global vaccine market. The global therapeutic
vaccines market is driven by the rising incidence of chronic infectious
diseases, cancer, Alzheimer's disease, and more.
Therapeutic vaccines are
specifically manufactured for individuals who are HIV positive with a healthy
immune system, aiming to enhance their ability to combat microorganisms. These
vaccines are currently being developed for chronic viral infections like human
immunodeficiency virus (HIV), human papillomavirus (HPV), herpes simplex virus
(HSV), cancer, hepatitis B virus, and hepatitis C virus, as an alternative to
antiviral treatment. The global therapeutic vaccines market is still in its
early stages, with numerous players actively involved in the development of
these vaccines. Some companies have implemented key business strategies, such
as product innovation and new product launches, to establish their dominance in
the global therapeutic vaccines market. The market is positively influenced by
the significant increase in the prevalence of chronic diseases such as cancer
and HIV. Several companies have taken a leading role in the research and
development of therapeutic vaccines. For example, in April 2010, Dendreon
Corporation launched Provenge, an FDA-approved immunotherapy drug for the
treatment of prostate cancer. According to the U.S. Department of Health and
Human Services, there are vaccines in the clinical trial stage, including
Lucanix (Belagenpumatucel-L) and gp100 melanoma vaccine for non-small cell lung
cancer. Likewise, Merck & Co., Inc. and GSK Plc. are expected to launch
vaccines such as GSK1572932A and GV1001, which have entered phase 3 trials.
Cancer is the second leading
cause of death worldwide, with approximately 9.6 million deaths in 2018. Around
70% of cancer deaths occur in low and middle-income countries. In 2018, there
were 2.09 million lung cancer cases and 2.09 million breast cancer cases
globally. Infections such as hepatitis and human papillomavirus (HPV) are
responsible for up to 25% of cancer cases in low and middle-income countries.
Therapeutic vaccines have the potential to address major disease populations,
making them a significant factor in boosting the global therapeutic vaccines
market. According to Alzheimer's Association, in 2006, there were 26.6 million
cases of Alzheimer's disease worldwide, and it is predicted to reach 106.8
million cases by 2050. Tuberculosis (TB) remains a significant global health
concern, with an estimated 1.5 million deaths in 2014.
The Joint United Nations
Program on HIV/AIDS (UNAIDS) estimates that more than 40 million people are
infected with HIV worldwide, with thousands of new infections each day.
Government subsidies to pharmaceutical companies, particularly for health
research, are expected to drive the therapeutic vaccines market. For example,
the National Institutes of Health (NIH) in the US contributes approximately
US$30.9 billion annually to health research. In Canada, the Canadian Institute
of Health Research (CIHR) and the Industrial Research Assistance Program
provide nearly US$0.76 billion to health research each year. The UK Research
Council contributes US$888 million annually to health research, making
significant contributions that impact the therapeutic vaccines market. As
regulatory processes become stricter and more competitive, new products must
demonstrate significant clinical benefits in terms of safety and efficacy
compared to existing products. This leads to head-to-head comparisons between
market-leading products and new applicants in late-stage pipelines. For
instance, vaccine candidates for HIV-1 overseen by WHO's Product Development
for Vaccines Advisory Committee (PDVAC) include ALVAX pox prime with a protein
boost, MF59/HVTN 100, VRC-HIVADV014-00-VP, VRC-HIVADV054-00-VP/HVTN 084, all in
phase II trials. The Tuberculosis Vaccine Initiative (TBVI) is actively working
on the development of new vaccine candidates, such as VPM1002 SII, Max Planck,
MIP Cadila Pharma, M. Vaccae Anhui Zhifei Longcom, in phase 3 trials.
However, the high capital
expenditure required for vaccine development presents a challenge to market
growth. Ineffective research and development, as well as reimbursement
policies, are key factors that hinder market growth. Additionally, due to the
market being in its early stages, stringent regulatory implications are
anticipated to impede progress. However, considering the vaccine's potential in
treating various chronic diseases, these obstacles are expected to diminish
gradually.
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Therapeutic Vaccines Market”
The Global Therapeutic Vaccines
Market is segmented into product, technology, type of therapy, route of
administration, distribution channel, regional distribution, and company.
Based
on the product, the autoimmune vaccine segment is projected to hold the largest
market share in the global therapeutic vaccines market during the forecast
period. The growing prevalence of manufacturing vaccines for various diseases
to achieve significant results primarily drives the market's growth.
Furthermore, the rising interest in innovative developments with the latest
technologies increases the demand for targeted diseases, further propelling the
segment's growth. Therapeutic vaccines have demonstrated high efficacy in
treating diseases with minimal or no side effects, which contributes to the
market's growth rate. The increasing support from private and public
organizations for healthcare centers also plays a crucial role in driving the
segment's growth.
Based
on region, North America segment is expected to grow during the forecast
period. The North American region is
anticipated to make a significant contribution to the market's growth during
the study period. Factors such as the increasing cancer burden, rising research
and development expenditures, and growing number of product launches are
projected to drive market growth. For example, according to the data from the
American Cancer Society for 2022, it is estimated that there will be 1.9
million new cancer cases diagnosed in the country, with approximately 236,740
new cases of lung cancer and 287,850 new cases of breast cancer. Additionally,
the same source indicates that there will be 79,000 new cases of kidney cancer
and 268,490 new cases of prostate cancer diagnosed in the country. These
statistics highlight the significant burden of cancer among the population in
the United States, which is expected to increase the demand for therapeutic
vaccines for treatment and consequently drive market growth.
Major companies
operating in Global Therapeutic Vaccines Market are:
- Agenus Inc.
- Argos Therapeutic Inc.
- Celldex Therapeutic Inc. (Avant Immunotherapeutics, Inc.)
- Dendreon Corp (Sanpower Group Co., Ltd.)
- GlaxoSmithKline plc
- Merck & Co. Inc.
- Novartis AG
- Pfizer, Inc.
- Phio Pharmaceuticals Corp.
- INOVIO Pharmaceuticals
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“The increasing prevalence of various chronic ailments and
the growing demand for effective biologic medications for targeted responses
are key drivers of growth in the therapeutic vaccines market. Furthermore, the
implementation of government initiatives promoting compulsory immunization
during the COVID-19 pandemic, along with ongoing investments in
biopharmaceutical companies for viral recombinants, are additional factors
contributing to this growth. Moreover, the extensive utilization of
morphogenesis gene therapy with exosome-mediated delivery technology for the
development of patient-specific vaccines to address different cancer types is
propelling market expansion. These advancements are complemented by the rising
adoption of genetic engineering, the availability of expedited deployment
vaccines, and the introduction of accelerated drug development solutions to
enhance medicine designs. Additionally, rapid advancements in the healthcare
sector, increased consumer awareness regarding access to various therapeutic
drugs, and ongoing research and development (R&D) efforts to improve
product effectiveness are fostering a positive outlook for the market.,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Therapeutic Vaccines
Market Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028 Segmented By Product (Autoimmune Disease
Vaccines, Neurological Disease Vaccines, Cancer Vaccines, Infectious Disease
Vaccines, And Other Products), By Technology (Autologous Vaccines and
Allogeneic Vaccines), By Type of Therapy (Monotherapy and Combination Therapy),
By Route of Administration (Intravenous, Intradermal, Subcutaneous, and Others),
By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online
Pharmacies), By Region and Competition”, has evaluated the future
growth potential of Global Therapeutic Vaccines Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Therapeutic Vaccines Market.
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