Vaccines are used to prevent diseases. It typically contain an agent that resembles a disease-causing microorganism and is often made from weakened or killed forms of the microbe, its toxins or one of its surface proteins. The agent triggers the body’s immune system to recognize the agent as foreign, destroy it, and “remember” it, so that the immune system can more quickly recognize and destroy any of these microorganisms it later encounters.This helps the body build immunity against the diseases. Vaccines have long been acknowledged as a key public health intervention as they protect society’s most vulnerable citizens — infants and young children — from serious diseases.
The global Vaccine Technologies Market is estimated to be valued at US$ 45.04 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the vaccine technologies market is development of therapeutic vaccines for cancer treatment. The focus has shifted from preventive vaccines to therapeutic vaccines that can boost a person’s immune system to fight cancer or chronic infections like HIV/AIDS. Researchers are developing therapeutic vaccines that can train immune cells to recognize cancer cells and destroy them. Technologies like DNA and mRNA are opening new avenues for development of innovative cancer therapeutic vaccines with potential to transform cancer treatment. The clinical success of mRNA-based Covid-19 preventive vaccines has further accelerated research on mRNA cancer vaccines. Ongoing clinical trials of various therapeutic cancer vaccines shows promising results and this is projected to significantly increase demand for vaccine technologies over the forecast period.
Threat of new entrants: The threat of new entrants is moderate in the vaccine technologies market due to high capital investment requirements for R&D and production facilities.
Bargaining power of buyers: The bargaining power of buyers is high as the market has many global pharmaceutical players developing vaccines.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as the supply raw materials and technologies are available from multiple suppliers globally.
Threat of new substitutes: The threat of new substitutes is low as vaccines have limited substitutes for disease prevention.
Competitive rivalry: The competitive rivalry is high among leading players to gain major market share through new product launches and technological advancements.
Global Vaccine Technologies Market Size is expected to witness high growth over the forecast period supported by increasing research funding for vaccine development and rising prevalence of infectious diseases.
Regional analysis: North America is expected to dominate the global vaccine technologies market over the forecast period supported by rising healthcare expenditure, presence of major players, and government focus on preventive healthcare. Asia Pacific is anticipated to witness fastest growth supported by developing healthcare infrastructure and increasing healthcare expenditure in emerging economies like India and China.
Key players: Key players operating in the vaccine technologies market are Blackmores Limited, Vitaco Holdings Limited, Integria Healthcare, Bioglan, Deep Blue Health (NZ) Co. Limited, Phytomed, NZ Herbals, and Sanderson. These leading players are focusing on new product launches and acquisitions to strengthen their global presence and gain major market share.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it