Therapeutic Vaccines Market Overview:
As per Cancer Research U.K., around 17 million cancer cases were recorded in 2018 from across the world. Apart from conventional medication for cancer treatment, therapeutic vaccines are also being recognized as significant modes of treatment owing to their immunity-boosting properties. A type of immunotherapy, therapeutic vaccines are widely applied for treating diseases such as HIV, Alzheimer’s disease, herpes, metastatic prostate cancer, and many others. Unlike preventive vaccines, therapeutic vaccines stimulate the body’s natural immune system against a particular disease which then destroys the microbes and harmful cells. Therapeutic vaccines are classified into various categories such as antigen vaccines, dendritic cell vaccines, DNA vaccines, and tumor cell vaccines which have been approved by the U.S. Food and Drug Administration (FDA). Moreover, research is being conducted for developing and enhancing specific vaccines such as addiction vaccines, autoimmune disease vaccines, infectious disease vaccines, and neurological disease vaccines. Rising population and increasing incidences of the aforementioned diseases are fuelling the global therapeutic vaccines market growth, which breached $19.62 billion for FY 2018.
Autoimmune diseases are widely affecting a large section of the population across the world, generating concern and an immediate requirement for treatment. Significant responses by governments and private organizations and public awareness is exerting a huge demand for therapeutic vaccines in the global market. During the forecast period 2019-2025, the autoimmune disease vaccines segment is projected to increase at a CAGR of 18%.
Therapeutic Vaccines Market Outlook:
According to the American Cancer Society, prostate cancer is estimated to affect nearly 174,650 American men in 2019. The FDA has approved the application of therapeutic vaccines for treating metastatic prostate cancer, wherein the vaccine will target specific antigens produced by cancer cells by initiating the immune system’s functioning. North America is the leading market for therapeutic vaccines, with a share of 46% in 2018, owing to higher incidences of medical innovations, advanced healthcare infrastructure, growing general awareness, and its prominence as a center for the medical tourism market. Ongoing biomedical advancements in this sector, and increasing demand from across the world significantly influences the therapeutic vaccines market, which is estimated to grow at a CAGR of 36.52% through to 2025.
Therapeutic Vaccines Market Growth Drivers:
· Growing healthcare awareness, rising urbanization, innovation in the vaccines industry, and increasing purchasing power of the population are contributing to mounting demand, thereby propelling growth of the therapeutic vaccines market.
· Increasing cancer and HIV incidences, and government initiatives for increasing R&D, are expected to drive growth for the therapeutic market.
Therapeutic Vaccines Market Key Players:
The key market players include Celtic Pharma, Agenus, Inc., Cytos Biotechnology AG, Novartis AG, Biocon, Pfizer, Merck & Co., Argos Therapeutics Inc., Dendreon Corp., GlaxoSmithKline, and several others.
Agenus, Inc. is a leading biotechnology company with cancer being its main focus of interest, for which they develop new products, diagnosis, treatment, and solution procedures. They also provide vaccines to build and strengthen the natural immune system against cancer.
Therapeutic Vaccines Market Trends:
· Breakthrough As A Cancer Vaccine:
Cancer persists in the human body for a longer period of time, thereby weakening the natural immune system. Therapeutic cancer vaccines have proven to be a non-invasive, cost-effective and efficient treatment method for targeting antigens which also help boost the body’s immune power.
Therapeutic Vaccines Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the therapeutic vaccines market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of therapeutic vaccines in therapeutic vaccines market, and their specific applications in different areas.
Therapeutic Vaccines Market: Industry Coverage:
Global therapeutic vaccines market is bifurcated into two segments by type and technology. On the basis of type, categorization includes addiction vaccines, autoimmune vaccines, infectious disease vaccines, neurological disease vaccines, and other disease vaccines. Sub segments under technology includes autologous vaccine and allogeneic vaccines.
The therapeutic vaccines market also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia