Vaccine Adjuvant Market Poised for Steady Growth Due to Rising Disease Burden Globally
Vaccine Adjuvant Market Poised for Steady Growth Due to Rising Disease Burden Globally
The vaccine adjuvant market comprises products added to vaccines to boost immune response against targeted diseases and to achieve robust, long-lasting immunity with relatively small quantities of antigen or target vaccine. Commonly used vaccine adjuvants include aluminum salts, oil-in-water emulsions, liposomes, and nanoparticles. These adjuvants help vaccines work better in people with weaker immune systems, such as newborns or the elderly. They may also allow for diminished vaccine dosing, making vaccine supply go further.
The global Vaccine Adjuvant Market was valued at US$ 1,430.0 Mn in 2021 and is forecast to reach a value of US$ 3,521.5 Mn by 2028 at a CAGR of 13.7% between 2022 and 2028.
Key Takeaways
Key players operating in the Vaccine Adjuvant market are Thermo Fisher Scientific Inc., Air Liquide (Seppic), Pacific GeneTech Limited, OZ Biosciences, Novavax Inc., Merck & Co. Inc., InvivoGen, GlaxoSmithKline PLC, Dynavax Technologies Corporation, CSL Limited, Croda International PLC, Vertellus, Aphios Corporation, Agenus Inc., Adjuvatis, and Associated British Foods PLC (SPI Pharma Inc.), among others. GSK leads the market with its MPL and AS adjuvant technologies in various vaccines.
Vaccine Adjuvant Market Demand is fueled by rising vaccination awareness and increased healthcare spending worldwide. North America leads the market due to research support and therapeutic vaccine demand, while Asia Pacific is poised for the highest growth with emerging contract research manufacturing organizations.
Market Drivers
Rising prevalence of infectious diseases across the globe are stimulating the demand for adjuvants. Emergence of newer strains of pathogens worldwide has increased the need for effective vaccination programs. According to the World Health Organization (WHO), infectious diseases account for approximately 26% of global mortality with majority deaths concentrated in developing economies. This has propelled the need for high efficacy and affordable vaccine adjuvant systems.
PEST Analysis
Political: Regulatory policies related to healthcare and vaccine approval processes impact demand for vaccine adjuvants. Stringent approval norms ensure adjuvants are thoroughly tested for safety and efficacy.
Economic: Growth of the global economy and rising healthcare budgets in developing nations drive expenditure on immunization programs, boosting demand for adjuvants used in newer vaccines.
Social: High disease awareness in societies increases vaccination rates, benefiting adjuvant makers. Public health campaigns promoting immunization as preventive care expand the market.
Technological: Advances in understanding disease pathogenesis and immunity spur development of novel adjuvants that induce stronger and longer lasting immune responses. Researchers explore biodegradable delivery systems and targeted release mechanisms.
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Geographical Regions of Concentration**
North America holds the highest market share currently due to extensive R&D efforts of adjuvant developers and rapid adoption of advanced vaccines. Major players establish production facilities to cater to domestic demand. Europe is another key region with a comprehensive immunization agenda and supportive regulatory norms.
Fastest Growing Regional Market
Asia Pacific is expected to witness the fastest growth during the forecast period. Rapid economic development, rising living standards, growing health awareness and huge population are key factors driving the government initiative and private funding to strengthen immunization programs in the region. Emerging nations offer lucrative opportunities to adjuvant producers.
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