The global therapeutic vaccines market is anticipated to witness a moderate CAGR during the forecast period, i.e., 2021-2029. Factors such as the growing prevalence of chronic and infectious diseases globally, such as rabies, hepatitis, allergies, breast, and lung cancers among others, coupled with the increasing funding and favorable regulatory policies from the government of nations for promoting research and advancements in the development of therapeutic vaccines, and the growing number of vaccine manufacturers who are working on the development of advanced vaccines are anticipated to drive the market growth in the coming years. According to the statistics by the World Health Organization (WHO), around 17.9 million people died from cardiovascular diseases (CVDs) in the year 2016. On the other hand, there was an increase in premature mortality from diabetes by 5% between 2000 and 2016. Additionally, increasing need for the development of therapeutic vaccines for the ongoing COVID-19 pandemic is also anticipated to contribute to the market growth.
The market is segmented by type of vaccines into addiction, infectious disease, autoimmune disease, and neurological disease vaccines. Among these segments, the autoimmune disease segment is projected to hold the largest market share by the end of 2021. The growth of the segment can be attributed to the growing awareness about autoimmune diseases amongst individuals, especially the elderly population, who possesses a high risk to the disease, coupled with the high prevalence of the autoimmune diseases amongst individuals, and the increasing research and development for the development of autoimmune disease drugs.
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Regionally, the global therapeutic vaccines market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Among these regions, the market in North America is projected to hold the largest market share by the end of 2029. The growth of the market in the region can be attributed to the presence of a strong healthcare network in the region, along with the increasing expenditure of the government for the advancements in medical and healthcare technologies.
The global therapeutic vaccines market is further classified on the basis of region as follows:
Our in-depth analysis of the global therapeutic vaccines market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Growing prevalence of chronic and infectious diseases, and the need for cure to such diseases are some of the major factors driving the market growth.
The market is anticipated to witness a moderate CAGR over the forecast period, i.e., 2021-2029.
The stringent regulatory framework of the government is one of the major factors estimated to act as barriers to the growth of the market.
The major companies in the market are SCM Lifescience, Agenus Inc., Kuros Biosciences, CureVac AG, CEL-SCI, Ipsen Pharma, and others.
The company profiles are selected based on the revenues generated from segments, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market in North America is projected to hold the largest market share by the end of 2029 primarily on account of the growing expenditure of the government of the United States for advancements in medical research.
The therapeutic vaccines market is segmented by type of vaccines, technology, and by region.
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