Therapeutic Vaccines are the vaccines that give immunity to the body to act against various infectious diseases such as: HIV, Cancer, Hepatitis C, Neurological Disease, Parkinson’s disease, Alzheimer's disease and other infectious diseases. Growing at a CAGR of 33.8%, the global market of therapeutic vaccines is anticipated to reach USD 4.84 Billion over the forecasted period from 2015-2021.
By Vaccine Types
The global market of Therapeutic Vaccines can be segmented into these categories:
The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Growth Drivers and Challenges
Escalating chronic diseases, expanded government funds for the vaccines development, great penetration of healthcare insurance in almost every country across the globe, rising medical tourism especially in Asia etc. are few of the key drivers for the global market of therapeutic vaccines.
However, high cost of vaccines, generic drugs usage in developing countries and complex policies made by the government are projected to hamper the growth of global market of therapeutic vaccines.
Market size and forecast
At present, North America is the biggest market for therapeutic vaccine and expected to continue its dominance in near future. The North America market was estimated USD 79,283 Million in 2014 which is projected to reach USD 147,801 Million by 2021.
Asia-Pacific Region is anticipated to grow at a high rate owning to increase in aging population over the forecasted years.
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