April 20, 2024

The Global Therapeutic Vaccines Market Is Driven By Advancing Immuno-Oncology Therapies

Therapeutic vaccines are biological preparations that improve or restore health by inducing, enhancing, or suppressing an immune response. They are mainly aimed at treating already diagnosed diseases by enhancing the immune system’s response against pathogens or diseases. The major focus of therapeutic vaccines has been on infectious diseases such as HIV infection, hepatitis, and tuberculosis. However, their scope has expanded significantly in recent years to include non-infectious diseases such as cancer, autoimmune diseases, and neurological disorders. Therapeutic vaccines offer several advantages over conventional drugs like targeted disease treatment and long-lasting immunity with better safety profiles. Growing incidence of chronic diseases and development of personalized therapeutic vaccines are fueling the demand for these vaccines globally.

The global Therapeutic Vaccines Market is estimated to be valued at Us$ 3.09 Mn in 2024 and is expected to exhibit a CAGR Of 3.5% over the forecast period from 2024 To 2030.

Key Takeaways

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. The major players are focusing on new product launches and partnerships to expand their global footprint.

The growing disease burden of cancer and infectious diseases is generating significant demand for therapeutic vaccines in various regions. Manufacturers are investing heavily in R&D to develop novel therapeutic vaccines for various chronic conditions with greater efficacy and improved safety profiles.

Increasing awareness regarding novel immunotherapies, rapidly growing biologics sector, and growing geriatric population that is more prone to chronic diseases are fueling the global expansion of the therapeutic vaccines market. Major players are focusing on emerging markets in Asia Pacific and Latin America for further growth opportunities.

Market Key Trends

Precision or personalized medicine is a key trend in the therapeutic vaccines market. With advances in immunotherapy and understanding of disease biology, focus has shifted to designing vaccines tailored to individual patient’s genetic makeup and tumor mutations. This allows for development of therapeutic vaccines with higher clinical impact. Major players are investing in immunotherapy and precision medicine to launch novel, personalized vaccines for treating cancer and other chronic conditions.

Porter’s Analysis

Threat of new entrants: The therapeutic vaccines market requires high R&D investments and clinical trial expenditures that make it difficult for new companies to enter the market.

Bargaining power of buyers: Individual consumers have little bargaining power since therapeutic vaccines are prescribed by healthcare providers. Healthcare providers and governments as buyers have some bargaining power based on volume.

Bargaining power of suppliers: A few large biotech and pharmaceutical companies dominate the supply of novel therapeutic vaccine technologies and products, giving them strong bargaining power.

Threat of new substitutes: No close substitute exists for therapeutic vaccines that can boost immunities without causing infection. Alternative treatment options only manage disease symptoms.

Competitive rivalry: The market is growing but competition is intense as major players race to develop novel vaccines for different disease indications and therapeutic areas.

Geographical Regions

North America currently accounts for the largest share of the therapeutic vaccines market, valued at over US$ 1 Bn in 2024, due to major players presence and higher healthcare spending.

The Asia Pacific region is expected to witness the fastest CAGR during the forecast period from 2024 to 2030. This can be attributed to increasing investments by international players, growing awareness, and rising healthcare expenditures in densely populated countries such as China and India.

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