February 21, 2024
Therapeutic Vaccines Market

Therapeutic Vaccines Market driven by increasing prevalence of chronic disease

Therapeutic vaccines are a type of medicine that help strengthen the body’s natural defenses against diseases. They help trains the immune system to recognize and eliminate infected or malignant cells. Therapeutic vaccines are primarily used for cancer, infections diseases, autoimmune diseases and other chronic illnesses. The growing prevalence of chronic diseases such as cancer, HIV/AIDs, multiple sclerosis and hepatitis has been increasing demand for therapeutic vaccines to prevent and manage symptoms and progression of the disease. The global therapeutic vaccines market exhibits tremendous growth opportunities with the development and commercialization of novel therapeutic vaccines for various disease indications.

The global Therapeutic Vaccines Market is estimated to be valued at US$ 2.68 Bn in 2024 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 key trends:

One of the key trends in the therapeutic vaccines market is the focus on precision medicine. Advances in immunology, biotechnology and precision medicine have enabled the development of therapeutic vaccines that can boost immune responses against specific disease-causing antigens or tumors. For instance, vaccines are being developed that can target cancer neoantigens which are tumor-specific mutations recognized by the immune system. Such precision therapeutic vaccines offer the promise of enhanced efficacy with reduced side effects. Furthermore, combination therapies where therapeutic vaccines are used along with immune checkpoint inhibitors or other immunotherapies is another area gathering significant attention. It is anticipated that such targeted and combination approaches will potentially transform the clinical application of therapeutic vaccines.

Porter’s Analysis
Threat of new entrants: New companies entering the therapeutic vaccines market face high entry barriers as it requires huge R&D investments and time to develop new vaccines.
Bargaining power of buyers: The bargaining power of buyers in the therapeutic vaccines market is moderate due to the specialized nature of vaccines and established brand names.
Bargaining power of suppliers: Suppliers have moderate to high bargaining power due to specialized expertise required for manufacturing therapeutic vaccines and dependencies of companies on key suppliers.
Threat of new substitutes: Threat of new substitutes is low as there are limited treatment options for diseases targeted by therapeutic vaccines.
Competitive rivalry: The rivalry in the market is high as the key players compete on the basis of product differentiation, pricing and portfolios.

Key Takeaways
The Global Therapeutic Vaccines Market Demand is expected to witness high growth. The global Therapeutic Vaccines Market is estimated to be valued at US$ 2.68 Bn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030.

Regional analysis: North America currently dominates the market and is expected to continue its dominance over the forecast period. The presence of leading manufacturers and rising adoption of vaccines are driving growth. Asia Pacific is expected to grow at the fastest pace during the forecast period attributed to increasing healthcare expenditure and growing awareness.

Key players: Key players operating in the therapeutic vaccines market are AMR India Limit, GlaxoSmithKline Plc., Merck & Co., Inc., Pfizer Inc., CSL Limited, Sanofi, Astellas Pharma Inc., Emergent BioSolutions Inc., and AstraZeneca. AMR India Limit leads the market with its diversified therapeutic vaccine product portfolio targeting various disease indications.