Global Therapeutic Vaccines Market booming at USD 47.44 Billion by 2022
Sarasota, FL -- (SBWIRE) -- 10/04/2017 -- About Zion Market Research
Zion Market Research has published a new report titled "Therapeutic Vaccines Market by Products (Addiction Vaccines, Autoimmune Disease Vaccines, Infectious Disease Vaccines and Neurological Disease Vaccines) and by Technology (Autologous Vaccine and Allogeneic Vaccine): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022". According to the report, global therapeutic vaccines market was valued at approximately USD 10.54 billion in 2016 and is expected to generate revenue of around USD 47.44 billion by end of 2022, growing at a CAGR of around 28.5% between 2017 and 2022.
Vaccines are biological preparations that assist in acquiring immunity to a particular antigen or disease. Vaccine mimics the structure of antigen so as to generate immune response to destroy the foreign material and also keep the memory of it to fight against future invasion. Vaccines are mainly of two types: prophylactic vaccines and therapeutic vaccines. Prophylactic vaccines are used to prevent infection wherein therapeutic vaccines are used to treat the disease. Therapeutic vaccines are gaining importance owing to their immunogenic specificity for individual infective disease agents. Therapeutic vaccines are currently developed for chronic viral infections, such as human papillomavirus (HPV), human immunodeficiency virus (HIV), herpesvirus and hepatitis B (HBV) and C (HCV) virus infections, cancer etc. as an alternative to antiviral treatment.
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Global therapeutic vaccines market is primarily driven by growing incidences of chronic diseases such as cancer, HIV etc. across the globe. Other major driving factors are increasing funds from the government for research and development of vaccines coupled with technological advancements. However, high treatment cost and stringent regulatory policies coupled with high initial capital investment are the major restraints that may limit the growth of the market. Nonetheless increasing focus on personalized medicine coupled along with the need for effective treatment is likely to disclose the new avenues for therapeutic vaccines market in the near future.
The therapeutic vaccines market is segmented on the basis of product type segment as addiction vaccines, autoimmune disease vaccines, infectious disease vaccines and neurological disease vaccines. Autoimmune disease vaccine segment is expected to grow at fastest rate in the global market over the forecast period. The therapeutic vaccines market is segmented based on technology into autologous vaccines and allogeneic vaccines.
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North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are key regional segments of global therapeutic vaccines market. North America is anticipated to remain the leading region over the forecast period followed by Europe. Demand for therapeutic vaccines was highest in North America especially in the U.S. Asia Pacific is expected to be the moderate growing region in therapeutic vaccines market during the forecast period. Moreover, the Middle East and Africa and Latin America are also expected to show moderate growth for this market in the years to come.
Some of the key players in therapeutic vaccines market include Valeant Pharmaceuticals, BioVex, Inc., Inovio Pharmaceuticals, Inc., Immunocellular Therapeutics, Ltd., Agenus Inc., GlaxoSmithKline plc., Pfizer Inc., Novartis AG, Argos Therapeutics, Bavarian Nordic, Transgene, Galena Biopharma and Vaccinogen, Inc. among others.
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