June 12, 2024

Therapeutic Vaccines Market Is Estimated To Witness High Growth Owing To Increasing Incidence Of Cancer

The therapeutic vaccines market is a rapidly growing segment in the fields of oncology and infectious diseases. Therapeutic vaccines work by stimulating or restoring the immune system’s ability to fight cancer cells or infectious pathogens. For cancer, therapeutic vaccines aim to train the immune system to recognize tumor cells and mount an attack. Some key types of therapeutic cancer vaccines include antigen-specific cancer vaccines, anti-idiotype vaccines, and whole-cell vaccines. The growing burden of cancer worldwide and demand for alternatives to conventional treatment options are driving large investment in the development of therapeutic vaccines.

The global Therapeutic Vaccines Market is estimated to be valued at US$ 3.09 Billion in 2024 and is expected to exhibit a CAGR Of 3.5% over the forecast period of 2024-2030.

Key Takeaways

Key players:

Key players operating in the Therapeutic Vaccines Market  include AMR India Limited, Carmeuse, GLC Minerals LLC, Graymont Limited, Gujarat Mineral Development Corporation Ltd, Imerys, Kerford Limestone, LafargeHolcim, Lhoist Group, Minerals Technologies Inc., Okutama Kogyo Co. Ltd, Omya AG, RSMM Limited, Ryokolime Industry Co. Ltd (Mitsubishi Materials Corporation), SCHAEFER KALK GmbH & Co. KG, The National Lime & Stone Company, and United States Lime & Minerals Inc.

Key opportunities: Significant research is being conducted to develop therapeutic vaccines for various cancer types. Some key areas presenting high growth opportunities include lung cancer, breast cancer, prostate cancer, and melanoma therapeutic vaccines. Growing focus on personalized cancer vaccines is also opening new avenues.

Global expansion: Major players are undertaking strategic collaborations and partnerships to strengthen their pipeline and conduct clinical trials in new geographies. Companies are also exploring opportunities in emerging markets in Asia Pacific and Latin America for therapeutic cancer and infectious disease vaccines.

Market drivers: The increasing incidence of cancer worldwide is a major factor fueling the demand for therapeutic vaccines. According to World Health Organization, cancer burden is expected to rise by over 50% in next 20 years. Therapeutic vaccines offer innovative non-toxic alternatives to chemotherapy and radiation therapy, driving their popularity.

PEST Analysis

Political: Therapeutic vaccines require extensive clinical trials and regulatory approvals before they can be commercialized. Stringent regulations can delay market entry of new products.

Economic: Rising healthcare spending and growing burden of diseases like cancer and infectious diseases are driving demand for therapeutic vaccines globally.

Social: Increasing awareness about various diseases and availability of treatment options is positively impacting the therapeutic vaccines market.

Technological: Advancements in vaccine development technologies like DNA vaccines, antisense RNA, and personalized/precision vaccines are expanding the market scope. Continuous research is being done to develop therapeutic vaccines for chronic diseases.

Geographical regions where the market is concentrated in terms of value:

North America dominates the global therapeutic vaccines market currently, driven by high healthcare expenditure, supportive regulatory environment, and rising R&D investments. The US accounts for the largest share in the North American market.

Fastest growing region for the therapeutic vaccines market:

Asia Pacific is poised to emerge as the fastest growing region for the therapeutic vaccines market during the forecast period owing to factors like increasing healthcare spending, large patient pools, growing prevalence of chronic diseases, and improving accessibility to treatment options especially in China and India.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it