Therapeutic vaccines are intended to treat existing diseases in contrast to preventative vaccines that aim to prevent future infections. They offer targeted immune responses against various chronic diseases and cancers. Therapeutic vaccines against conditions such as colorectal cancer, multiple sclerosis, and tuberculosis are currently under clinical trials. The global therapeutic vaccines market is witnessing significant growth due to rising prevalence of infectious and chronic diseases.

The global therapeutic vaccines Market is estimated to be valued at US$ 2.68 Bn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The opportunity for therapeutic vaccines to prevent and cure various diseases is fueling the market growth. Conditions such as cancer, autoimmune diseases have no cure currently available and the only option left is disease management. Therapeutic vaccines have the potential to change the disease treatment paradigms by eliciting targeted immune responses against the root cause. Their ability to induce immunologic memory allows long term protection from recurrence. Ongoing research and growing clinical evidence on efficacy of therapeutic vaccines against different indication areas will boost their adoption in the coming years, driving substantial revenues to the market.

Porter’s Analysis

Threat of new entrants: Low as heavy R&D costs and stringent regulations pose significant entry barriers. Manufacturers require to conduct extensive clinical trials to ensure vaccine safety and efficacy.

Bargaining power of buyers: Moderate as therapeutic vaccines target specific diseases. However, availability of alternative treatment options provide some bargaining power.

Bargaining power of suppliers: Moderate to high due to specialized manufacturing process and scarce technical expertise required for vaccine development.

Threat of new substitutes: Low as therapeutic vaccines provide definite advantages over alternative therapies through durable immunization.

Competitive rivalry: Intense as key players compete on technology advancements and establishing strong regional presence.

SWOT Analysis

Strength: Therapeutic vaccines help boost patient's immunity against diseases and reduce dependency on alternate medications. Increasing healthcare spending and rising disease incidence are major market boosters.

Weakness: High R&D costs associated with new vaccine development, storage challenges requiring cold supply chains, and regulatory compliance issues pose operational challenges.

Opportunity: Rising cancer and infectious disease cases worldwide presents scope for expanded product portfolio. Developing nations offer lucrative growth prospects.

Threats: Side effects, quality issues, and uncertainties surrounding clinical outcomes can raise safety concerns. Vulnerability to pricing pressures from payers and unfavorable changes in reimbursement policies acts as a market threat.

Key Takeaways

The Global Therapeutic Vaccines Market Scope is expected to witness high growth over the forecast period driven by increasing prevalence of chronic diseases, strong pipeline of novel candidates, and rising healthcare expenditure globally.

The North American region currently dominates the market owing to robust R&D investments, presence of major players, and supportive regulatory framework. The Asia Pacific region is projected to be the fastest growing market on account of rising healthcare awareness, growing medical tourism, and expansion of regional pharma companies.

Key players operating in the therapeutic vaccines market are AMR India Limited, Carmeu Pharmaceuticals Co. Ltd., and Pfizer Inc. among others. Major players are focusing on collaborations and partnerships to enhance their product portfolios and expand global footprints.

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