The therapeutic vaccines market involves vaccines that are used in the prevention and treatment of chronic diseases such as cancer, respiratory diseases, cardiovascular diseases, and others. Therapeutic vaccines help boost the body's natural defenses against cells that cause diseases or help kill existing diseased cells. The development and availability of advanced therapeutic vaccines to prevent and treat chronic ailments effectively have increased over recent years.
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.
Growing demand: The growing prevalence of chronic diseases and increasing demand for advanced treatment options are fueling the demand for therapeutic vaccines. Therapeutic vaccines help boost immunity against cancer-causing antigens and infectious pathogens that cause chronic respiratory diseases.
Global expansion: Major players in the therapeutic vaccines market are expanding their production facilities and distribution networks globally. Strategic collaborations between vaccine manufacturers and research organizations are also supporting the global expansion of the therapeutic vaccines market.
Market drivers
The rising research and development activities for developing novel therapeutic vaccines focusing on various chronic diseases is a major driver for this market. Growing geriatric population suffering from chronic illnesses also presents lucrative growth opportunities. In addition, increasing awareness about the benefits of vaccination and favorable government policies supporting vaccine development will further propel the therapeutic vaccines market over the forecast period.
The current geopolitical situation is impacting the growth of the Therapeutic Vaccines Market. With various trade restrictions and supply chain disruptions arising due to geopolitical tensions, the market is facing challenges. Manufacturers are facing difficulties in sourcing raw materials and components from key regions like Europe and China. This is hampering manufacturing output and production volumes. The transportation of finished products is also getting delayed due to issues in international trade. This is limiting the availability of therapeutic vaccines and negatively impacting market expansion. To overcome these obstacles, manufacturers will need to diversify their supplier base, establish facilities in different regions, and strengthen local transportation networks. They also require to devise alternative supply chain and logistics strategies to minimize geopolitical risks on supply. Developing strategic partnerships with regional players can help gain access to local resources and sustain operations.
North America currently holds the highest share of the therapeutic vaccines market in terms of value due to a well-established healthcare system, high healthcare investments, and presence of major market players in the region. The growing prevalence of chronic diseases and rising demand for personalized medicine are fueling market growth in North America. On the other hand, Asia Pacific is expected to witness the fastest growth over the forecast period owing to increasing healthcare spending, large patient pool, and growing adoption of advanced therapies in countries like China and India. Improvements in regulatory frameworks and investments by key players are supporting market development in Asia Pacific.
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