Global therapeutic vaccines market is expected to register a 33.8% CAGR over the forecast period. Moreover, the global therapeutic vaccines market is expected to reach at revenue of around USD 4.8 Billion by the end of 2021. The market is expected to expand on the back of increasing prevalence of infectious diseases such as HIV, Cancer, hepatitis C, neurological diseases and others across the globe. Moreover, increasing geriatric population is also a key factor which is fuelling the demand for therapeutic vaccines.
The Asia Pacific region is likely to be fastest growing segment during the forecast period. Improving healthcare infrastructure, rising geriatric population and increased spending on R&D activities in healthcare sector are few of the key factors which are envisioned to drive the growth of therapeutic vaccine market in Asia Pacific region.
Increase in Incidence of Cancer
Cancer is one of the leading causes of deaths and was responsible for more than 8 million deaths in 2015, (according to WHO). During treatment of cancer, therapeutic vaccines are one of the most important drugs/vaccines which are provided to the patients to stimulate the immune system to target an infection. Further, growing use of therapeutic vaccines in cancer treatment is expected to propel the growth of market over the forecast period.
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Favourable governmen1t initiatives and programmes
Government initiatives and encouragement in various economies regarding development of therapeutic vaccine are further opening the opportunities for the various therapeutic vaccines manufacturers. Moreover, increasing prevalence of infectious diseases coupled with number of deaths due to infectious diseases are forcing governments to enhance existing healthcare infrastructure and provide better medical resources to the population.
However, threat of side effects caused by therapeutic vaccines and stringent rule and regulations regarding development and use of therapeutic vaccines are some of the factors that are likely to hamper the growth of global therapeutic vaccines market over the forecast period.
The report titled “Global Therapeutic Vaccines Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the global therapeutic vaccines market in terms of market segmentation by vaccine type, by technology and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global therapeutic vaccines market which includes company profiling of Cytos Biotechnology, Agenus Inc., Bavarian Nordic, Celldex Therapeutics, Affiris AG, Argos Therapeutics, Biovest International, Celtic Pharma, Cel-Sci Corp. and Curevac AG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global therapeutic vaccines market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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