The global therapeutic vaccines market is expected to post a CAGR of over 19% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global therapeutic vaccines market is the rising incidence and prevalence of diseases. Several diseases including HIV, cancer, chronic diseases, and human papillomavirus are spreading at an alarming rate. In addition, there has been an increase in the prevalence of chronic diseases including asthma, diabetes, Alzheimers, multiple sclerosis, and chronic obstructive pulmonary diseases in the recent years. The rising incidence of these diseases has created significant opportunities for the growth of the therapeutic vaccines market.
As per Technavio, the increase in R&D activities related to novel therapeutic vaccines will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global therapeutic vaccines market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global therapeutic vaccines market: Increase in R&D activities related to novel therapeutic vaccines
There has been a continuous increase in R&D activities related to development of novel therapeutic vaccines. Several diseases including hepatitis B virus infections, Alzheimers disease, and cancer are becoming a major public health concern across the world. This has led to the need to develop innovative therapeutic vaccines for these diseases including chronic hepatitis B. For instance, researchers have developed a new-generation vaccine known as NASVAC for chronic hepatitis B by using a novel immunization route and a novel antigen called HBcAg. Therefore, rising investments in R&D activities will boost the growth of the global therapeutic vaccines market in the forthcoming years.
Rising number of strategic alliances will foster the therapeutic vaccines market growth in forthcoming years. Start-ups are entering the market due to the rising incidence of chronic conditions including cancer, autoimmune diseases, and infectious diseases. Vendors are also involved in strategic collaborations to develop therapeutic vaccines to treat the human papillomavirus infection. Such collaborations will foster the markets growth during the forecast period, says a senior research analyst at Technavio.
Global therapeutic vaccines market: Segmentation analysis
This market research report segments the global therapeutic vaccines market by type (cancer vaccines, infectious diseases vaccines, neurological diseases vaccines, autoimmune diseases vaccines, and other diseases vaccines) and geographic regions (North America, Europe, Asia, and ROW).
North America led the market in 2018, followed by Europe, Asia, and ROW respectively. The market growth in North America can be attributed to the presence of various infectious, neurological, and autoimmune diseases. The growing prevalence of several diseases is further encouraging researchers to develop novel treatment therapies for these diseases, which will contribute to the market dominance of North America.
Looking for more information on this market? Request a free sample report
Technavios sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavios report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at [email protected].
Media & Marketing Executive
+1 844 364 1100
UK: +44 203 893 3200