Blockchain-based Healthcare is Fastest Growing Segment Fueling the...

Blockchain-based Healthcare is Fastest Growing Segment Fueling the Growth of Therapeutic Vaccines Market

Posted 2023-11-14 09:25:27

Market Overview:
Therapeutic vaccines are designed to treat already diagnosed diseases by stimulating the body's immune system. These vaccines provide long-lasting immunity by stimulating memory immune response. They are used in the treatment for various infectious diseases and cancer conditions.

Market key trends:
Personalized Therapeutic Vaccines: Due to the success of genomic sequencing and immunology, therapeutic vaccine development has moved towards personalized medicine approach. Personalized therapeutic vaccines are designed based on the molecular signature of an individual's cancer. These vaccines are tailored to activate immune response against the patient's specific tumor mutations. This trend will drive the demand for therapeutic vaccines during the forecast period.
Segment Analysis
Content: The global therapeutic vaccines market is segmented by type, disease indication, and end-user. Based on type, the market is segmented into cancer vaccines, infectious disease vaccines, autoimmune disease vaccines, and others. Among these, the infectious disease vaccines segment currently dominates the market and is expected to continue its dominance over the forecast period. This is attributed to the high prevalence of infectious diseases globally and increased immunization programs for infectious diseases like influenza, Hepatitis B, etc.

Key Takeaways
Content: The global Therapeutic Vaccines Market Demand is expected to witness high growth, exhibiting CAGR of 34% over the forecast period 2023 to 2030, due to increasing research and development activities in the field of therapeutic vaccines by the private and public organizations.

Regional analysis: North America dominates the global therapeutic vaccines market currently and is expected to continue its dominance over the forecast period. This is attributed to the presence of major players in the region and strong government support for research and development. Asia Pacific region is expected to exhibit the fastest growth over the forecast period due to the increasing healthcare expenditure and growing awareness regarding therapeutic vaccines.

Key players: Key players operating in the Therapeutic Vaccines market are Phio Pharmaceuticals Corp., GSK plc., Merck & Co., Inc., Pfizer Inc., Agenus Inc. These players are focusing on new product launches and strategic collaborations to strengthen their market position. For instance, in 2022, GSK announced the launch of its new tuberculosis vaccine candidate which is under phase III trials.