Global Therapeutic Vaccines Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Disease Type (Autoimmune diseases, Cancer, Neurological diseases and Infectious diseases) & Region - Industry Forecast (2024 to 2029)

Updated On: June, 2024
ID: 54
Pages: 177

Global Therapeutic Vaccines Market Size (2024 to 2029)

The size of the global therapeutic vaccines market is predicted to be worth USD 40795.48 million by 2029 from USD 19075.42 million in 2024, growing at a CAGR of 16.42% from 2024 to 2029. Several approaches are being developed in the pipeline to boost the immune response to various infectious and cancerous cells.

The therapeutic vaccines market is different from any other product market. Compared to the pharmaceutical industry, it is relatively small, although growing at a fast rate. There are presently nearly 120 new vaccines in the pipeline of various multinational companies across the globe set to hit the market in the next few years. The vaccine market is relatively concentrated on both the supply and demand sides. It is highly regulated and primarily dependent on public purchasers and donor policies. It has distinct features that increase the complexity of assessing and understanding pricing and procurement in their context.

MARKET DRIVERS

Increased government funding for vaccine development, increased investments by major market players, increasing disease prevalence, technological advances, and NGOs' initiatives are some of the factors driving the global therapeutic vaccines market forward. The growing number of people suffering from diseases such as cancer, HIV, neurological diseases, autoimmune diseases, infectious diseases, and others is significantly increasing the need for therapeutic vaccines and promoting market growth. According to World Cancer Research Fund International (ECRF), an estimated 18,094,716 new cancer cases were found in 2020. According to World Health Organization (WHO) reports, around 1 billion are suffering from various neurological diseases. According to the National Stem Cell Foundation, around 4% of the population worldwide suffers from at least one autoimmune disease. Due to the increasing incidence of diseases like cancer and HIV, therapeutic vaccines have become more popular.

Technological advancements in HIV diagnosis and increased clinical trials for HIV and cancer vaccines are anticipated to favor the therapeutic vaccines market. Rising public awareness around life-threatening diseases and increased R&D investments in therapeutic vaccines are further anticipated to promote market growth. The alarming rise in the demand for effective treatment has shifted global attention to therapeutic vaccines. Several pharmaceutical companies have begun developing novel vaccines for breast cancer, lung cancer, and Alzheimer's. Even though these innovations are still in the pipeline and have yet to be commercialized, they point to a new opportunity for the global therapeutic vaccine market. In addition, human papillomavirus-mediated cancers will present a growth opportunity for the global therapeutic vaccines market.

MARKET RESTRAINTS

However, massive capital expenditures, stringent regulatory policies, and high costs associated with treatment are a few factors inhibiting the market's growth. Higher vaccine costs and a lack of therapeutic drug availability restrict the global therapeutic vaccines market. Furthermore, the global therapeutic vaccines market is hampered by strict regulatory requirements for therapeutic vaccine approval. The market is being limited by inefficient research and development and reimbursement policies. However, the vaccine can treat many chronic diseases; these constraints will weaken over time.

Adverse side effects of therapeutic vaccination and lack of awareness may threaten the global therapeutic vaccines market's expansion. In addition, market growth will be hampered by issues such as the high cost of developing therapeutic vaccines. There is, however, one challenge in this situation. Vaccine R&D takes a long time and requires a lot of money, just like drug development. Clinical trials must be completed before a vaccine can be released commercially. Most vaccines are rejected at each stage of the clinical trial. When the final product is approved for commercial use, a significant amount of money has been spent on the vaccine development R&D process. These are the challenges faced by the market.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

Segments Covered

By Disease Type and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, Asia-Pacific, Latin America, Middle East & Africa

Market Leaders Profiled

GlaxoSmithKline, plc., Merck and Company, Bavarian Nordic, CSL Limited, Emergent BioSolutions Inc., Novartis AG, Johnson and Johnson, MedImmune, LLC, Pfizer, Inc., and Sanofi Pasteur.


 

SEGMENTAL ANALYSIS

Global Therapeutic Vaccines Market  By Disease Type

Based on the disease, the autoimmune vaccine segment is anticipated to hold the largest global therapeutic vaccines market share during the forecast period. The increasing prevalence of manufacturing various vaccines for different diseases to promote significant results primarily accelerates the market's growth. In addition, people's interest in innovative developments with the latest technologies increases the need for targeted diseases, further fuelling the segment’s growth. Therapeutic vaccines are highly effective in treating the disease with fewer or no side effects, which are also ascribed to bolster the market's growth rate. The increasing support from private and public organizations for healthcare centers also drives the segment's growth.

Global Therapeutic Vaccines Market  By Region

The therapeutic vaccines market in North America is expected to hold a leading share of the global market in 2022 and is forecasted to carry the domination throughout the forecast period owing to the rise in patients' flow suffering from chronic diseases. The increasing adoption of advanced technology and the launch of new products in favor of the end-users are likely to outshine the demand for therapeutic vaccines in North America. In addition, growing awareness over the availability of different therapies among individuals and stringent rules and regulations by the government is estimated to contribute to market growth in North America. The U.S. dominated the North American regional market in 2021. The increased production rate of the vaccines and the growing development of new vaccines in research centers are significant factors for the market growth in the USA.

The European therapeutic vaccines market is next to the North American region, accounting for the leading share, and was the second-largest regional market worldwide in 2021. During the forecast period, the European region is expected to hold a prominent share of the global market owing to the increase in the deaths of women and children due to autoimmune disease and increasing government initiatives, and the rising scale of healthcare centers with new techniques for chronic and fatal diseases.

The therapeutic vaccines market in Asia has been growing considerably over the past decade and is expected to hit the highest CAGR soon. The rise in the geriatric population, growing concern towards health, and increasing disposable income in urban areas are a few factors accelerating the APAC market growth.

The Latin America therapeutic vaccines market is predicted to showcase a steady CAGR during the forecast period.

The therapeutic vaccines market in MEA is estimated to register a moderate CAGR in the coming years.

KEY MARKET PLAYERS

Some of the prominent companies influencing the global preventive vaccine market are GlaxoSmithKline, plc., Merck and Company, Bavarian Nordic, CSL Limited, Emergent BioSolutions Inc., Novartis AG, Johnson and Johnson, MedImmune, LLC, Pfizer, Inc., and Sanofi Pasteur. Multinational vaccine companies have historically conducted much of the innovation, research, and development in vaccine production. They have used significant revenues, global size, and more profound expertise to fund.

DETAILED SEGMENTATION OF THE GLOBAL THERAPETIC VACCINES MARKET IN THIS REPORT    

This research report on the global therapeutic vaccines market has been segmented and sub-segmented based on the disease type and region.

By Disease Type

 

  • Autoimmune Disease Vaccines
  • Cancer Vaccines   
  • Neurological Disease Vaccines
    • Parkinson's Disease Vaccine
    •  Alzheimer's Disease Vaccine
  • Infectious Disease Vaccines             
    • Hepatitis C
    • HIV/AIDS
    • Other infectious diseases

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

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Frequently Asked Questions

Which region will lead the therapeutic vaccines market in the future?

The North American region is expected to have the largest share of the therapeutic vaccines market during the forecast period.

Who are the leading players in the therapeutic vaccines market?

GlaxoSmithKline, plc., Merck and Company, Bavarian Nordic, CSL Limited, Emergent BioSolutions Inc., Novartis AG, Johnson and Johnson, MedImmune, LLC, Pfizer, Inc., and Sanofi Pasteur are a few of the major companies in the therapeutic vaccines market.

How big is the therapeutic vaccines market?

The global therapeutic vaccines market size is predicted to value at USD 35041.64 million by 2028.

Which segment by disease type led the therapeutic vaccines market in 2023?

The autoimmune diseases segment dominated the market in 2023.

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