Zion Market Research, the market research group announced the analysis report titled “Therapeutic Vaccines Market: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022”
Sarasota, FL -- (SBWIRE) -- 01/22/2018 -- 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.
A vaccine is a biological preparation that improves immunity to a particular disease. A vaccine typically contains an agent that resembles a disease-causing microorganism, its toxins or one of its surface proteins. The agent stimulates the body's immune system to recognize the agent as foreign, destroy it, and remember it, so that the immune system can recognize and destroy similar foreign organism in later encounters. Mainly there are two types of vaccines named preventive or prophylactic vaccines and therapeutic vaccines. A preventative vaccine is administered to a person free of the targeted infection, the immune system reacts by producing antibodies. Thus on the future encounter, these antibodies will recognize and destroy the foreign organism. On the other hand, therapeutic vaccines aim to increase the activity of the body's natural defenses and are administered to the person afflicted with chronic infection or disease, against which naturally produced antibodies are ineffective. U.S. Food and Drug Administration approved the first therapeutic vaccine for cancer in 2010.
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Cancer and HIV are the most common causes of death across the globe. The World Health Organization estimates, there were 14 million cancer cases worldwide and 8.2 million cancer-related deaths in 2012 and the number of cases are expected to increase about 24 million by 2035. As per the data published by WHO in global health observatory data, more than 70 million people have been infected with the HIV and about 35 million people have died since the beginning of the epidemic. Globally, 36.7 million people were living with HIV at the end of 2015. There are over 200 different types of cancer and each of which is classified by the type of cell that is initially affected. Various types of cancer include prostate cancer, blood cancer, lungs cancer etc. The treatment of cancer, HIV, and other severe diseases has become of prime importance owing to increasing burden of patients globally. Thus, novel non-invasive treatment strategies which include therapeutic vaccines are an attractive treatment option. Hence, global therapeutic vaccine market is expected to see positive growth in the coming years.
Growing incidences of chronic diseases such as cancer, HIV, etc. are expected to be the major driver for the global therapeutic vaccines market. In addition, increasing funds from the government for research and development of vaccines coupled with technological advancements is expected to trigger the growth of global therapeutic vaccines industry in the coming years. However, high treatment cost and stringent regulatory policies coupled with high initial capital investment may pose the challenge to therapeutic vaccines market. Nevertheless, increasing focus on personalized medicine coupled with the need for effective treatment is expected to act as an opportunity for therapeutic vaccines market in near future.
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Based on product type, therapeutic vaccines market has been segmented into addiction vaccines, autoimmune disease vaccines, infectious disease vaccines and neurological disease vaccines. Autoimmune disease vaccines segment is expected to grow at the fastest rate during the forecast period. The therapeutic vaccines market is segmented based on technology into autologous vaccines and allogeneic vaccines.
North America is expected to remain the dominant region over the forecast period. Increasing healthcare awareness is expected to boost the market in this region. Europe was the second largest market followed by Asia-Pacific. Asia-Pacific is expected to show fastest growth rate during the forecast period. The Middle East and Africa and Latin America are also expected to experience noticeable growth in the years to come.
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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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