- Live Attenuated Vaccines
- Inactivated and Subunit Vaccines
- Toxoid Vaccines
- Recombinant Vaccines
Therapeutic Vaccines Market size was valued at USD 28.4 billion in 2021 and is expected to reach USD 103.23 billion by 2028, at a CAGR of 18.03% during the forecast period 2022 to 2028. Therapeutic vaccines are biological combinations which develop immunity against a diseased tissue or cell. Therapeutic vaccines are administered to the patient in order to induce a defence mechanism against particular disease. These are developed to treat various cancer diseases, HIV, and Alzheimerâ€™s disease etc. Prophylactic vaccines differ from therapeutic vaccines are used for the prevention and control of diseases, while the prophylactic vaccines are only used for prevention of diseases. Therapeutic vaccines are specially manufactured for the HIV positive individuals with the healthy immune system, to increase the ability to fight against microorganisms. Therapeutic vaccines are currently developed for chronic viral infections, such as human immunodeficiency virus (HIV), human papillomavirus (HPV), herpes simplex virus (HSV), cancer, hepatitis B virus, and hepatitis C virus etc. as an alternative to antiviral treatment. The global therapeutic vaccines market is in the nascent stage where many players are actively involved in the development of therapeutic vaccines. Few companies have adopted some key business strategies, such as product innovation, and new product launching to ensure their dominance in the global therapeutic vaccines market. The global therapeutic vaccines market is positively affected by the significant rise in prevalence of chronic diseases such as cancer, and HIV etc. Few companies have taken an active lead in research and development of therapeutic vaccines. For instance, in April 2010, Dendreon Corporation, launched FDA approved immunotherapy drug Provenge, for the treatment of prostate cancer. According to U.S. Department of Health and Human Services, there are some vaccines in the clinical trial stage, such as Lucanix (Belagenpumatucel-L), gp100 melanoma vaccine, for Non-small cell lung cancer. Similarly, Merck & Co., Inc. and GSK Plc. are expected to launch vaccines such as GSK1572932A, and GV1001 having entered phase 3 trials.
Fastest Growing Market
The global market is expected to grow at a significant CAGR due to increase in the prevalence of chronic diseases such as cancer, and HIV etc. According to World Health Organisation, an escalation of the diseases such as cancer (approximately 8.8 Mn people died in 2015) and HIV expected to drive the growth of global market over the forecasting period. The advanced and active R&D activities for therapeutic vaccines by pharmaceutical companies for various types of cancers are in pipeline which is expected to create potential opportunity in the global market in future. Apart from this, rising number of mergers and acquisitions, and an increase in funding from government for development of therapeutic vaccines might fuel the growth of global therapeutic vaccines market over the forecasting period. However, inefficient research and development and non-existent reimbursement policies for vaccines are the primary factors which are expected to hinder the growth of global market. Similarly, stringent regulatory implications, higher cost of vaccines, lesser accessibility to the vaccines, availability of alternative treatments for the diseases, and some adverse effects associated with the vaccines might hamper the growth of global therapeutic vaccines market over the forecast period.
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.