by Therapeutic vaccines are designed to treat already diagnosed diseases by strengthening the body’s natural defenses against specific pathogens or diseases. They help boost the immune system’s ability to fight diseases like cancer, infectious diseases, and neurological disorders. The global therapeutic vaccines market has witnessed significant growth in recent years owing to the rising burden of chronic diseases and various infectious diseases.
The global Therapeutic Vaccines Market is estimated to be valued at US$ 2.68 billion in 2023 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 drivers contributing to the growth of the therapeutic vaccines market is the rising disease burden of various chronic and infectious diseases globally. According to the World Health Organization (WHO), chronic diseases accounted for approximately 60% of the global deaths in 2020. Cancer alone accounted for nearly 10 million deaths in 2020. Similarly, infectious diseases like HIV/AIDS, tuberculosis, malaria, hepatitis, etc. contribute significantly to the global disease burden. For instance, there were around 38 million people living with HIV globally in 2020, according to UNAIDS. Therapeutic vaccines play a crucial role in effectively managing such chronic and infectious diseases by strengthening the body’s natural immune response. This is expected to raise the demand for therapeutic vaccines over the forecast period.
SWOT Analysis
Strength: Therapeutic vaccines target diseases that are chronic, persistent, or relapsing, and enhance the body’s natural immune response against infections. They enable long-term protection against diseases like cancer and HIV/AIDS.
Weakness: Developing therapeutic vaccines requires extensive clinical testing to prove their safety and efficacy for human use. This regulatory process is complex and time-consuming. Some diseases may prove difficult to target using vaccines alone.
Opportunity: Growing incidence of cancer and infectious diseases globally increases the demand for therapeutic vaccines. Development of technologies like mRNA and personalized neoantigen vaccines opens new avenues for immunotherapy.
Threats: Limited understanding of disease pathogenesis and host immune responses present challenges. Failure in clinical trials results in heavy losses for developers. Biosimilars face quicker approvals once reference vaccines become off-patent.
Key Takeaways
The Global Therapeutic Vaccines Market Size is expected to witness high growth over the forecast period of 2023 to 2030 supported by increasing research investments. The market size is projected to reach US$ 2.68 Billion by 2023.
Regional analysis comprises North America currently dominates due to large incidences of cancer and infectious diseases, high acceptance of novel therapies, and presence of major players. However, Asia Pacific is emerging as the fastest growing regional market with improving access to healthcare in China and India. Government initiatives to boost local production of vaccines will support market expansion.
Key players operating in the therapeutic vaccines market are AstraZeneca, Pfizer, GlaxoSmithKline, Sanofi, Bristol-Myers Squibb, and Merck & Co. Major players are focusing on advancing their pipelines through collaborations and acquisitions. They are also investing in technologies like mRNA and artificial intelligence to develop personalized vaccines tailored for individual immune responses.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
