Global Therapeutic Vaccines Market:
Global therapeutic vaccines market estimated to be valued US$ Mn in 2017 and poised to grow at CAGR of % over 2017-2023. Market for therapeutic vaccines is projected to reach US$ Mn by 2023.
Therapeutic vaccines are biological combinations which develop immunity against a diseased tissue or cell. Therapeutic vaccines are administered to the patient in order to induce a defence mechanism against particular disease. These are developed to treat various cancer diseases, HIV, and Alzheimer’s disease etc. Prophylactic vaccines differ from therapeutic vaccines are used for the prevention and control of diseases, while the prophylactic vaccines are only used for prevention of diseases. Therapeutic vaccines are specially manufactured for the HIV positive individuals with the healthy immune system, to increase the ability to fight against microorganisms. Therapeutic vaccines are currently developed for chronic viral infections, such as human immunodeficiency virus (HIV), human papillomavirus (HPV), herpes simplex virus (HSV), cancer, hepatitis B virus, and hepatitis C virus etc. as an alternative to antiviral treatment.
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The global therapeutic vaccines market is expected to grow at a significant CAGR due to increase in the prevalence of chronic diseases such as cancer, and HIV etc. According to World Health Organisation, an escalation of the diseases such as cancer (approximately 8.8 Mn people died in 2015) and HIV expected to drive the growth of global therapeutic vaccines market over the forecasting period. The advanced and active R&D activities for therapeutic vaccines by pharmaceutical companies for various types of cancers are in pipeline which is expected to create potential opportunity in the global therapeutic vaccines market in future. Apart from this, rising number of mergers and acquisitions, and an increase in funding from government for development of therapeutic vaccines might fuel the growth of global therapeutic vaccines market over the forecasting period. However, inefficient research and development and non-existent reimbursement policies for vaccines are the primary factors which are expected to hinder the growth of global therapeutic vaccines market. Similarly, stringent regulatory implications, higher cost of vaccines, lesser accessibility to the vaccines, availability of alternative treatments for the diseases, and some adverse effects associated with the vaccines might hamper the growth of global therapeutic vaccines market over the forecast period.
Global therapeutic vaccines market has been segmented on the basis of product type, application, technologies, market type, and end user
Based on product type, global therapeutic vaccines market has been segmented into the following:
Live attenuated vaccines
Inactivated and subunit vaccines
Based on application, global therapeutic vaccines market has been segmented into the following:
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