LONDON--(BUSINESS WIRE)--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, Alzheimer’s, 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, Alzheimer’s 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 market’s 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.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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