June 25, 2024
Therapeutic Vaccines Market

The Therapeutic Vaccines Market Is Driven By Increasing Disease Burden Of Infectious Diseases

Therapeutic vaccines are designed to prevent or treat already existing diseases by stimulating the body’s immune system to protect against specific diseases. Unlike preventive vaccines which provide protection before exposure to a disease-causing pathogen, therapeutic vaccines are administered after diagnosis of a disease. Key diseases targeted by therapeutic vaccines include cancer, infectious diseases such as HIV/AIDS, tuberculosis and malaria. They work by reinforcing the immune system so that it recognizes and destroys diseased cells or inhibits factors that allow microbes to multiply.

The global Therapeutic Vaccines Market is estimated to be valued at US$ 3.09 Bn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 to 2031, 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 rising focus on personalized therapeutic vaccines. Conventional therapeutic vaccines are designed based on “one size fits all” approach. However, given the heterogeneity of diseases like cancer across patients, such an approach has limitations. Researchers are now developing personalized therapeutic vaccines that can incorporate the genetic signatures of patient’s tumor. These personalized vaccines have potential to increase treatment effectiveness by triggering immune responses against patient-specific tumor mutations. Development of novel platforms such as neoantigen discovery using next-generation sequencing is also helping in the development of personalized therapeutic vaccines with potential to revolutionize the treatment of cancer and other diseases.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the therapeutic vaccines market is low due to the high costs involved in research and development. There are also regulatory hurdles that must be cleared.

Bargaining power of buyers: The bargaining power of buyers is moderate as there are few alternatives available to therapeutic vaccines for certain diseases. However, buyers can negotiate on pricing and delivery costs.

Bargaining power of suppliers: The bargaining power of suppliers is low since there are many suppliers in the market that provide raw materials used in manufacturing therapeutic vaccines.

Threat of new substitutes: There is a low threat of substitutes as therapeutic vaccines provide targeted treatment with fewer side effects compared to other treatment options.

Competitive rivalry: The competitive rivalry in the industry is high due to the presence of many global and local players operating in the market.

Key Takeaways

The Global Therapeutic Vaccines Market Demand is expected to witness high growth over the forecast period. The market held a size of US$ 3.09 Mn in 2024 and is projected to reach US$ 4.38 Mn by 2031, expanding at a CAGR of 3.5% during the forecast period.

Regional analysis: North America dominated the global therapeutic vaccines market in 2024 and is expected to continue its dominance over the forecast period. This is attributed to factors such as advancements in research and development activities, growing incidences of chronic diseases, and presence of key market players in the region.

Key players: Key players operating in the therapeutic vaccines market are AMR India Limited, Carmeuse, GLC Minerals LLC, Graymont Limited, Gujarat Mineral Development Corporation Ltd, Imerys, Kerford Limestone, LafargeHolcim, Lhoist Group, Minerals Technologies Inc., Okutama Kogyo Co. Ltd, Omya AG, RSMM Limited, Ryokolime Industry Co. Ltd (Mitsubishi Materials Corporation), SCHAEFER KALK GmbH & Co. KG, The National Lime & Stone Company, and United States Lime & Minerals Inc. Imerys and Minerals Technologies Inc. hold a significant market share due to their diverse product portfolios and global presence.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it