Therapeutic vaccines were a US$292 million market globally.A number of companies have taken an active lead in opening up new avenues for the growth of this market
Albany, NY -- (SBWIRE) -- 11/28/2016 -- The report on the therapeutic vaccines market provides pin-point analysis and forward-looking assessment of key product segments, geographical regions, and competitive profile of overall global industry. Therapeutic vaccines have become the cornerstone of immunization and chronic disease treatment, because they work by triggering a body-immune response to help combat a disease.
The report studies all the important components that constitute the global therapeutic vaccines market. Given that this industry is subjected to numerous regulations and approvals, it becomes imperative for market players to anticipate these developments and negotiate their way through the complex business landscape. That's precisely what this report has been designed for.
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Overview of the Therapeutic Vaccines Market
In 2011, therapeutic vaccines were a US$292 million market globally. Therapeutic vaccines are effective because they give the body an extra boost of immune power, potentially helping it fight against several diseases including cancer and HIV. With an ever-expanding body of evidence about the efficacy of therapeutic vaccines, there is much to look forward to in the global therapeutic vaccines space.
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A number of companies have taken an active lead in opening up new avenues for the growth of this market. The first among these was Provenge, which holds the distinction of being the first FDA-accepted immunotherapy drug indicated for the treatment of prostate cancer. Since the approval of Provenge in 2010, the market has taken lofty strides with many novel vaccines being developed for numerous untapped disease segments.
Currently, a number of therapeutic vaccines are in the pipeline for diseases such as malaria, breast cancer, lung cancer, Alzheimer's, and diabetes, many of which will be launched by 2018. The lucrative potential presented by therapeutic vaccines is among the greatest growth drivers. On the flip side, players in the therapeutic vaccines market have to contend with non-existent reimbursement policies for such vaccines, massive R&D investments, and a lengthy regulatory approval process. However, considering the immense potential offered by therapeutic vaccines, regulatory bodies are trying to expedite the policy formulation process. This factor will work in favor of the global therapeutic vaccines market.