The global therapeutic vaccine market size is expected to register a significant CAGR of 12.6% during the forecast period, 2021–2028. The growth of the market is attributed to increasing prevalence of cancer.
A vaccination is a biological medicinal preparation that stimulates the production of antibodies inside the human body. After infection, a therapeutic vaccination is provided to develop antiviral immunity & change the course of the disease. To put it another way, therapeutic vaccinations assist the body in learning how to better protect itself.
The launch of vaccines to combat the COVID-19 virus is expected to contribute to the market growth during the forecast period. The government state bodies and private organizations collaborated to develop vaccines for the virus, which in turn, spurred the market growth in COVID-19 pandemic.
Market Trends, Drivers, Restraints, and Opportunities
- Government funding for vaccine development is projected to drive the market.
- Rising spending on research & development and increasing healthcare expenditure are some of the major factors spurring the market growth.
- Exorbitant capital expenditure can hamper the therapeutic vaccine market growth.
- Adherence to a strict regulatory framework can create challenges for the market.
- Increasing initiatives by government state bodies to increase the awareness about the advantages of vaccines can create lucrative opportunities for the market.
Scope of Therapeutic Vaccine Market Report
The report on the global therapeutic vaccine market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Therapeutic Vaccine Market - Global Industry Analysis, Growth, Trends, and Forecasts
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Base Year
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2020
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Historic Data
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2018-2019
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Forecast Period
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2021-2028
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Segmentation
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Products (Autoimmune Disease Vaccines, Neurological Disease Vaccines, Cancer Vaccines, Infectious Diseases Vaccines, and Others) and Technology (Allogeneic Vaccine and Autologous Vaccine)
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Geographical Scope
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North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Agenus Inc.; GlaxoSmithKline.; Merck & Co.; Pfizer.; and Vaccinogen Inc.
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Therapeutic Vaccine Market Segment Insights
Autoimmune Disease Vaccines segment is expected to grow at a rapid pace
Based on products, the global therapeutic vaccine market is divided into autoimmune disease vaccines, neurological disease vaccines, cancer vaccines, infectious diseases vaccines, and others. The autoimmune disease vaccines segment is expected to grow at a rapid pace during the forecast period due to increasing incidence of autoimmune illness. This disease can induce a tumor to develop, healthy tissues to be damaged, and alters the function of a certain organ. Blood arteries, connective tissues, endocrine glands, joints, muscles, red blood cells, and skin are all affected by autoimmune illnesses. Autoimmune illnesses are among the top 10 major causes of mortality in women of all ages, from 18 to 65 years old. These disorders, which are attenuating, chronic, and deadly, affect a significant portion of the population. Vaccines for several forms of autoimmune illnesses are currently being developed.
North America is anticipated to constitute a key market share
In terms of regions, the global therapeutic vaccine market is classified as North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to constitute a key share of the market during the projected period due to increasing demand for effective vaccinations, potentially reducing vaccine shortages, during infectious diseases. The demand for measles vaccinations, for example, has risen dramatically as a result of the biggest measles outbreak in North America in last 15 years.
The market in Asia Pacific is estimated to expand at a high CAGR during the forecast period. Rising spending on healthcare expenditure by government state bodies and private players is fueling the regional market growth. Moreover, growing awareness about vaccination benefits in emerging countries and underdeveloped countries in Asia Pacific is expected to fuel the market growth. On the other hand, the market in Middle East & Africa is estimated to grow at a rapid pace in the coming years.
Segments
The global therapeutic vaccine market has been segmented on the basis of
Products
- Autoimmune Disease Vaccines
- Neurological Disease Vaccines
- Cancer Vaccines
- Infectious Diseases Vaccines
- Others
Technology
- Allogeneic Vaccine
- Autologous Vaccine
Geography
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Key Players
- Agenus Inc.
- GlaxoSmithKline.
- Merck & Co.
- Pfizer
- Vaccinogen Inc.
Competitive Landscape
Key players competing in the global therapeutic vaccine market are Agenus Inc.; GlaxoSmithKline.; Merck & Co.; Pfizer.; Vaccinogen. These key players are constantly implementing several marketing strategies such as merger & acquisitions, capital investments, partnerships, and new product development to sustain industry position in the market.
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