Therapeutic vaccines are administered within the body while treating an individual with particular disorder. This vaccine activates and reinforces the body’s immune response to perform against a disorder. Therapeutic vaccines can be tailored according to applications and can be utilized in treating a range of disease and disorders like several cancer types, Alzheimer’s disease, and HIV infectious diseases.
During the forecast period, the growth of global therapeutic vaccines market is projected to be mainly augmented by suitable funding by government & private organizations for vaccine development along with rising expenditure in R&D activities. To cite, in December 2020, a prominent supplier of biopharmaceutical products within China, Sinovac Biotech Ltd., declared that a subsidiary of Sinovac, Sinovac Life Sciences Co., Ltd., has received a funding of around US$500 million for capacity expansion, further development, and manufacturing of its COVID-19 vaccine candidate, CoronaVac, plus carry out other operational & developmental activities.
Further, market growth is projected to be considerably impacted by the growing incidence of cardiovascular diseases, HIV infection, cancer, and numerous chronic diseases. This, in turn, is resulting in the requirement for effective treatment options further driving the emphasis on therapeutic vaccines globally thereby driving the market growth. Also, elevated alertness about the potential worth of vaccination within the developing, developed, and under-developed regions will further boost market expansion. In addition, the unexpected outbreak of Covid-19 pandemic is also expected to fuel the market growth to a great extent.
The global therapeutic vaccines market can be segregated based on type, end-user, application, and region. By type, the market is divided into autologous vaccines and allogeneic vaccines. By application, the market is categorized into cancer vaccines, autoimmune disease vaccines, neurological disease vaccines, infectious disease vaccines, and others. By end-user, the market is classified into pediatrics, adults, and others.
Regionally, the global therapeutic vaccines market is projected to be governed by North America during the forecast period owing to rising affordability and accessibility of extremely costly tests for cancer and HIV along with growing technological backing for new vaccine development. Europe follows North America and is expected to witness substantial growth owing to growing disease incidence and technological advancements. Likewise, Asia Pacific region is also anticipated to display lucrative growth during the years to come owing to the growing alertness among people about therapeutic vaccines and their several benefits.
The key players actively participating in the global therapeutic vaccines market consist of Argos Therapeutic Inc., Agenus Inc., Cytos Biotechnology AG, Celldex Therapeutic Inc., GlaxoSmithKline, Dendreon Corp, Novartis, Merck & Co., Vaccinogen Inc., and Pfizer, among others.