The Vaccine Adjuvant Market in Latin America is expected to grow at a CAGR of 11.35% from 2023 to 2028. The market size is predicted to be worth USD 154.6 million by 2028 from USD 90.33 million in 2023.
Adjuvants are used for decades to develop the immune response towards vaccine antigens. They perk up the body's immune response and regularly allow for slighter amounts of a deactivated virus or bacteria to be used in a vaccine. Though, more than one adjuvant may be present in the final vaccine product.
The necessity for these products will increase as adjuvants will be required to improve and spread immune responses while decreasing the quantity of antigen essential for each dose. The limited immunogenicity of different and new vaccine antigens has amplified the significance of adjuvant research in vaccine improvement. There is a necessity for the development of harmless and non-toxic adjuvants. Vaccines comprising novel adjuvant formulations are progressively developing and started reaching licensing stages, providing new tools to fill previously unmet clinical needs.
Conversely, many adjuvants miss the mark during product development due to unacceptable levels of tolerability or safety concerns; stability, lack of effectiveness, and manufacturability are some of the factors impeding the market's growth rate.
This research report on the Latin American vaccine adjuvant market has been segmented and sub-segmented into the following categories:
By Route Of Administration:
By Mechanism Of Action:
In 2022, the Brazilian vaccine adjuvant market accounted for the highest share in the Latin American market due to the developed healthcare sector and rising government funding to introduce the new innovative product. In addition, a growing pandemic of influenza in Brazil demands further production of an O/W emulsion vaccine adjuvant is driving the market's growth. Recently, using Xantham Gum emulsifying agent in vaccine adjuvant to detect the in vitro clinical trials of immune response will boost the market's growth.
The Mexican vaccine adjuvant market is expected to grow at the fastest CAGR during the forecast period in the Latin American market. Due to the less effective trivalent influenza vaccine, World Health Organization (WHO) has initiated clinical trials on vaccine adjuvant, which helps boost immune response in children, adults, and aged people, propelling the growth of the Mexico vaccine adjuvant market. Also, the demands for long-lasting immunity against melanoma, malaria, and tuberculosis are attributed to the increase in the market.
The high prevalence of hepatitis B and significant demand for DNA vaccine adjuvant to protect against the bovine herpes virus in cattle is driven by the growth of the vaccine adjuvants market in Argentina. In addition, a newly launched pediatric vaccine the Argentina government has approved adjuvant is propelling the market's growth. Also, the availability of a cost-effective MF-59 TIV adjuvanted vaccine will help to enhance the market growth.
KEY MARKET PLAYERS:
Companies playing a prominent role in the Latin American vaccine adjuvant market profiled in this report are MPV Technologies, Avanti Polar Lipids, Novavax Inc. Brenntag Biosector, SEPPIC, Agenus, Inc., Invivogen, SPI Pharma, Inc., CSL Limited, and OZ Biosciences.
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