by The intramuscular vaccine adjuvants market is estimated to be valued at US$ 694.19 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Intramuscular vaccine adjuvants are substances that are added to vaccines to enhance the immune response without having any specific protective antigens of their own. They work by stimulating the immune system and help it recognize vaccine antigens as something it should respond to. Commonly used intramuscular vaccine adjuvants include aluminum salts, oil-in-water emulsions, liposomes, immunostimulatory complexes (ISCOMs), and monophosphoryl lipid A (MPL). They are commonly used in influenza, HPV, hepatitis A and B, pneumonia, and herpes zoster vaccines.
Market Dynamics:
The growth of the Global Intramuscular Vaccine Adjuvants Market is majorly driven by the rising prevalence of infectious diseases and increasing demand for vaccines globally. For instance, according to the World Health Organization (WHO), influenza infects approximately 1 billion people worldwide every year, leading to 3-5 million cases of severe illness and 290,000-650,000 influenza-related respiratory deaths. Adjuvants play a vital role in enhancing the effectiveness of influenza vaccines, thereby increasing their demand. Furthermore, increasing R&D investments by key players for development of novel adjuvants and vaccines is also expected to propel market growth over the forecast period. However, stringent regulations for approval of new adjuvants may hamper market growth.
SWOT Analysis
Strength: Intramuscular Vaccine Adjuvants have high efficacy and strong immune response which helps produce long lasting immunity. They enhance vaccine effectiveness and induce improved antibody responses. Adjuvants allow for vaccine dose-sparing which helps reduce costs.
Weakness: Safety concerns regarding some adjuvants can limit their use in pediatric populations and the elderly. High costs involved in research and development of novel adjuvants.
Opportunity: Growing prevalence of chronic diseases expands the demand for therapeutic and prophylactic vaccines which drives the need for adjuvants. Emerging infectious diseases and re-emerging infectious diseases presents opportunities.
Threats: Stringent government regulations for approval of adjuvanted vaccines increases compliance costs. Supply chain disruptions due to COVID-19 pandemic can temporarily impact production.
Key Takeaways
The global Intramuscular Vaccine Adjuvants market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing burden of infectious diseases. Rapid advancements in vaccinology and growing emphasis on development of thermostable vaccines also bolster the market growth.
Regional analysis
North America dominates the global market and is expected to continue its dominance during the forecast period. This is attributed to growing biopharmaceutical industry, presence of leading players, and high healthcare spending in the region. Europe holds the second largest share due to increasing research funding for development of novel adjuvants. Asia Pacific exhibits the fastest growth owing to improving healthcare infrastructure, rising awareness about vaccines, and expansion of vaccine production facilities.
Key players
Key players operating in the Intramuscular Vaccine Adjuvants market are Novavax, Inc., Adjuvance Technologies, Inc., Invivogen, Vaxine Pty Ltd., SEPPIC, SPI Pharma, Inc., Agenus Inc., Avanti Polar Lipids, Inc., CSL Limited, OZ Biosciences. These players are focusing on new product launches, agreements, collaborations and geographic expansions to increase market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
