Therapeutic Vaccines Market Will Grow At Highest Pace Owing To Rising Demand For Cancer Treatment
Therapeutic Vaccines Market Will Grow At Highest Pace Owing To Rising Demand For Cancer Treatment
The Global Therapeutic Vaccines Market is estimated to be valued at Us$ 3.09 Bn in 2024 and is expected to exhibit a CAGR Of 3.5% over the forecast period 2024 To 2030.

Therapeutic vaccines are designed to treat existing diseases by strengthening the body's natural defenses against specific pathogens or diseases. They work by stimulating or restoring the immune system's ability to fight existing cancer cells and infectious agents. The rising prevalence of cancer and infectious diseases worldwide has fueled the demand for therapeutic vaccines. Therapeutic cancer vaccines aim to boost the immune response against cancer cells. Some key therapeutic cancer vaccines currently in development target cancers such as melanoma, prostate cancer, breast cancer and leukemia.

The Global Therapeutic Vaccines Market is estimated to be valued at Us$ 3.09 Bn in 2024 and is expected to exhibit a CAGR Of 3.5% over the forecast period 2024 To 2030.

Key Takeaways

Key players:

Key players operating in the Therapeutic Vaccines Market are 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. These players are focusing on developing new therapeutic vaccines for various cancers and infectious diseases.

Growing demand: The rising prevalence of cancer globally is a major factor driving the demand for therapeutic cancer vaccines. According to World Health Organization, cancer burden rose to 19.3 million new cases and 10 million cancer deaths in 2020. This rising cancer incidence rate has fueled the demand for new treatment options such as therapeutic vaccines.

Technological advancement: Continuous research and development in vaccine technologies has led to significant progress in the field of therapeutic vaccines. Technologies such as antigen identification, adjuvants and delivery methods have improved the efficacy of therapeutic vaccines. RNA-based and dendritic cell-based vaccines show promising potential due to their ability to activate both B and T cell immune responses.

Market Trends

Personalized therapeutic vaccines: Growing focus on precision medicine has led to development of personalized therapeutic vaccines tailored to individual patient's tumor mutations. These vaccines can activate stronger and longer immune response against cancer.

Combination therapies: Researchers are exploring use of therapeutic vaccines in combination with other immunotherapies like immune checkpoint inhibitors, chemotherapy or radiotherapy to boost anti-tumor response. Such combination regimes may achieve better clinical outcomes.

Market Opportunities

Infectious disease vaccines: Several therapeutic vaccines are under development for chronic infectious diseases like HIV/AIDS and tuberculosis which have high global disease burden. Successful vaccines can control the spread of such diseases.

New antigen targets: Identification of novel antigens specific to cancer types or infectious pathogens would offer opportunities for developing next-generation therapeutic vaccines with higher efficacy.

The COVID-19 pandemic has impacted the growth of the therapeutic vaccines market. The pre-COVID scenario saw a steady rise in the market due to increasing research and development activities in novel vaccine technologies and the growing burden of infectious diseases and cancer worldwide. However, the outbreak has disrupted clinical trials and manufacturing operations, resulting in delays and postponements of new product launches.

With lockdowns and social distancing measures imposed globally, the recruitment of new patients and site activations for clinical studies have been hindered. Vaccine production facilities have also faced workforce shortages and supply chain issues. The challenges are expected to continue in 2021 as well. However, from 2022 onwards, the market is projected to pick up pace again as clinical research normalizes and vaccine approval processes accelerate to combat ongoing and future health crises better. Companies are also exploring partnerships and advanced manufacturing capabilities to minimize disruptions.

North America holds the largest share of the therapeutic vaccines market in terms of value due to the rising incidence of chronic diseases, growing R&D investments, and increasing demand for personalized medicine in the region. On the other hand, Asia Pacific is poised to be the fastest-growing market during the forecast period. This can be attributed to factors such as the expanding target patient pool, growing healthcare spending, and improving research infrastructure in developing countries of the region.

In terms of value, Europe is another prominent regional market for therapeutic vaccines currently. This is mainly because of the presence of key manufacturers, favorable reimbursement policies, and rising cancer burden in several European countries. However, market growth may be hampered in the short term across all regions because of the ongoing COVID-19 pandemic. Over the long run, innovative vaccine technologies, partnerships, and collaborations are expected to drive market revival and expansion globally.

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https://www.marketwebjournal.com/therapeutic-vaccines-market-is-estimated-to-witness-high-growth-owing-to-increasing-incidence-of-cancer/

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