According to our report titled “Global Therapeutic Vaccines Market Analysis - By Disease Type (Autoimmune Disease, Cancer, Neurological Disease, Infectious Disease) & By Region - Global Industry Analysis on Size, Share, Growth, Trends, Forecast | 2019 – 2024”, the market is estimated to be $1132.50 USD billion and predicted to rise to $4820.26 USD billion with a CAGR of 33.6%.
The Global Therapeutic Vaccine Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, and Competitive Landscape, etc.
Currently, in the pipeline, several approaches are being developed in order to boost the immune response for various infectious and cancerous cells. The market is highly concentrated on both from supply and demand side as in at present there are almost 120 products in pipelines of various MNCs, set to hit the market in the next few years. Assessing and understanding pricing and procurement is also a complex issue due to the distinct features of the market. It is highly regulated and mostly dependent on public purchasers and donor policies.
Increase in funding from the government for vaccine development, rise in investments by the major market players, rising prevalence of the disease, technological advancements, initiatives by NGOs are some of the factors that are propelling the market growth. However, massive capital expenditures and stringent regulatory policies, high costs associated with treatment are few factors inhibiting the growth of the market.
North America accounts for a large portion of revenue in the therapeutic vaccine market. The growth of this market will be boosted owing to the presence of advanced and active R&D establishments in the region.
Multinational vaccine companies historically have conducted much of the innovation, research, and development in the field of vaccine production. They have used significant revenues, global size, and deeper expertise to fund. Some of the key players influencing the global therapeutic 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.