Therapeutic vaccines help in activation of immune system of patients to prevent or fight against diseases. They are intended to alleviate or prevent disease rather than provide immunity to infection. Rising incidence of chronic diseases such as cancer, infectious diseases and others has fueled the demand for therapeutic vaccines.
The global Therapeutic Vaccines Market is estimated to be valued at US$ 2.68 Bn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of chronic diseases across the globe has accelerated the growth of therapeutic vaccines market over the forecast period. According to the latest global disease burden report, chronic diseases accounted for almost three-quarters of all deaths in 2019, with cancer and cardiovascular disease being the leading chronic diseases. With growing geriatric population who are more prone to develop chronic health conditions, the demand for therapeutic vaccines is expected to increase significantly during the forecast period. This is promoting investments by major players in the development and launch of novel vaccines to treat various chronic diseases thereby driving the market growth.\
Segment Analysis
The Global Therapeutic Vaccines Market Growth is dominated by the infectious disease segment. This segment accounts for the largest market share owing to the increasing prevalence of infectious diseases such as HIV, hepatitis, and influenza. This segment is expected to further strengthen its leadership position during the forecast period with various vaccines in the pipeline and ongoing product approvals.
Key Takeaways
The global Therapeutic Vaccines Market is estimated to be valued at US$ 2.68 Bn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023-2030.
Regional analysis related content comprises: North America currently holds the dominant share in the therapeutic vaccines market. This is attributed to factors such as the rising prevalence of cancer and autoimmune diseases, developed healthcare infrastructure, and presence of major players. However, Asia Pacific is expected to witness the highest growth during the forecast period. This is driven by rapidly improving healthcare facilities, rising awareness regarding diseases, and increasing healthcare investments in countries such as China, India, and Japan.
Key players related content comprises: Key players operating in the therapeutic vaccines market are AMR India Limited, Carmell Therapeutics Corp, CureVac AG, Dendreon Pharmaceuticals LLC., Epitope Diagnostics Inc., F. Hoffmann-La Roche Ltd., GenVec Inc., GlaxoSmithKline plc, Immunocellular Therapeutics Ltd., Inovio Pharmaceuticals Inc, ISA Pharmaceuticals B.V., Moderna Therapeutics, Northwest Biotherapeutics, and Transgene SA.
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