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New Treatments Will Lead To Impressive Growth of Therapeutic Vaccines Market: TechNavio Research
More than 400 vaccines for treatment of ailments from HIV to cancer are in clinical development, leading experts to project huge market growth in the coming years.
Therapeutic vaccines are biological combinations developed to improve immunity by inducing an attack against a diseased cell or tissue, as opposed to prophylactic vaccines which are developed to prevent disease. Therapeutic vaccines encourage the immune system to attack targeted tissue with greater bioavailability and specificity with minimal side effects, making them the ideal option for cancer treatment.
There are currently only two approved therapeutic vaccines on the market, Provenge and Oncophage. However, more than 400 therapeutic vaccines are under clinical development and are expected to be approved for use during the forecast period. These vaccines are being developed to treat ailments from various cancers, to HIV/AIDS to Alzheimer’s disease. Once the vaccines are approved for use, the Global Therapeutic Vaccines Market could witness more than 50 percent growth every year.
Such a huge range of vaccines in development can be attributed to better understanding of immunology and immunotherapy, say senior TechNavio analysts.
“Technological advances have led to the discovery of many biomarkers, aiding the development of therapy through the body's natural defense mechanisms, which has resulted in therapeutic vaccines. Various strategies have been developed to make therapeutic vaccines viable alternatives to existing therapeutic approaches,”
He goes on to say that growth in the market is also due to the acquisition of technology developers by large corporations to strengthen their business within the vaccine industry.
“GlaxoSmithKline acquired Okairos AG, a specialist developer of vaccine platform technologies in May 2013, for US$325 million, enabling it to develop therapeutic vaccines. Such acquisitions could enable companies to venture into this market and gain greater revenue. “
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of the Global Therapeutic Vaccines Market. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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