Therapeutic Vaccines Market is Estimated to Witness High Growth Owing to Opportunity in Infectious Disease Treatment

 
Therapeutic Vaccines Market

Therapeutic vaccines are biological therapeutics designed to treat existing diseases or conditions by inducing, enhancing or suppressing an immune response. Therapeutic vaccines are used for treatment of cancer, infectious diseases, autoimmune diseases and others. They play a vital role by stimulating the body's immune system to fight 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 Opportunity:
Infectious diseases continue to remain a major public health challenge worldwide and account for approximately 25% deaths globally. Therapeutic vaccines have emerged as an effective alternative for treatment of various infectious diseases like HIV, hepatitis, tuberculosis, and malaria. Unlike preventive vaccines, therapeutic vaccines focus on treating existing diseases by strengthening body's immune response against pathogens. Their ability to induce strong immune memory makes them highly beneficial for treatment of chronic viral infections. The growing burden of infectious diseases worldwide presents lucrative opportunity for growth of therapeutic vaccines market during the forecast period. Rising investments by biotechnology companies towards development of novel therapeutic vaccines for infectious disease treatment will further aid market growth over the coming years.

Porter's Analysis

Threat of new entrants: Low economies of scale in R&D and stringent regulations for product approval pose significant entry barriers.

Bargaining power of buyers: Individual customers have low bargaining power due to availability of limited treatment alternatives.

Bargaining power of suppliers: Suppliers of antigens, adjuvants and fill-finish services have moderate bargaining power due to differentiated technologies and expertise required.

Threat of new substitutes: Threat of new substitutes is low as therapeutic vaccines require huge investments and time for approval.

Competitive rivalry: Intense as major players battle for market share through emphasis on innovation.

SWOT Analysis

Strengths: Ability to prevent or cure diseases. Customization as per disease etiology.

Weaknesses: High R&D costs. Lengthy approval timelines. Complex manufacturing processes.

Opportunities: Growing geriatric population drives demand. Increasing focus on immunotherapies.

Threats: Stringent regulations. Reimbursement issues in developing nations. Adverse effects of certain vaccines.

Key Takeaways

The Global Therapeutic Vaccines Market Demand is expected to witness high growth over the forecast period. The market size for 2024 is projected to reach US$ 2.68 billion, growing at a CAGR of around 3.5% from 2023 to 2030.

Regional analysis - North America dominates currently due to favorable government policies and presence of key players. Asia Pacific anticipated fastest growth owing to rising healthcare infrastructure and large patient base.

Key players operating in the therapeutic vaccines market are AMR India Limited, GlaxoSmithKline plc, Novartis AG, and Pfizer. AMR India Limited focuses on novel therapeutic vaccines for cancer, HIV and infectious diseases. GlaxoSmithKline, a leader, offers vaccines for lung cancer and HIV. Novartis' vaccines target diseases like malaria and leprosy. Pfizer has prominent vaccines for pneumonia.

Get more insights on this topic: https://www.pressreleasebulletin.com/therapeutic-vaccines-market-trends-size-and-share-analysis/

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