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Vaccine Adjuvants Market Report 2024 - Vaccine Adjuvants Market Trends, Size And Forecast
Vaccine Adjuvants Market
According to The Business Research Company's, The vaccine adjuvants market size has grown strongly in recent years. It will grow from $1.77 billion in 2023 to $1.91 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to increasing vaccine development, prevalence of infectious diseases, government initiatives and immunization programs, research and development investments, globalization of vaccine distribution.
The vaccine adjuvants market size is expected to see strong growth in the next few years. It will grow to $2.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to pandemic preparedness, expanding vaccine portfolio, global immunization goals, collaborations and partnerships, focus on therapeutic vaccines. Major trends in the forecast period include advancements in adjuvant technologies, focus on immunogenicity enhancement, combination adjuvants for enhanced effectiveness, demand for safer and well-tolerated adjuvants, personalized vaccines and adjuvants.
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Market Drivers and Trends:
The rising prevalence of infectious diseases is expected to propel the growth of the vaccine adjuvants market going forward. Infectious diseases refer to infections caused by viruses, bacteria, fungi, or parasites. Vaccines are used to treat these infectious diseases such as hepatitis B (HBV), hepatitis C (HCV), HIV, malaria, syphilis, and brucellosis. For instance, according to the 2022 World Health Organization (WHO) report, an estimated 10.6 million people are infected with tuberculosis globally in 2021, 1.6 million died, and 1.5 million people acquired HIV in 2021 while 650,000 people lost their lives due to it. Therefore, the rising prevalence of infectious diseases will drive the vaccine adjuvants market.
Strategic partnership is a key trend gaining popularity in the vaccine adjuvants market. Many companies operating in the vaccine adjuvants market are looking for partnerships to strengthen their position in the market. For instance, in October 2021, Dynavax Technologies, a US-based biotech company partnered with the U.S. Department of Defense to develop an adjuvanted plague vaccine using Dynavax's CpG 1018 adjuvant. Furthermore, in September 2020, Valneva SE, a France-based biotech company, partnered with Dynavax, a US-based biotech company to produce an adjuvant for the COVID-19 vaccine.
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Major Key Players of the Market:
GlaxoSmithKline Plc.; Novavax Inc.; SPI Pharma Inc.; Agenus Inc.; CSL Limited; InvivoGen Limited.; Brenntag Biosector A/S; Adjuvatis; Merck KGaA; Croda International Plc; Seppic Inc; OZ Biosciences; Avanti Polar Lipids Inc; Astellas Pharma Inc; Virometix AG; MPV Technologies Limited; Adjuvance Technologies Inc.; Novartis AG; Vaxine Pty Ltd; SBI Biotech Co. Ltd.; Statens Serum Institute; GSK Vaccines; VaxLiant LLC; VaxForm LLC; Serum Institute of India; Dynavax Technologies Corporation; Vaxcyte Inc.; VBI Vaccines Inc.; Medicago Inc.; Aphios Corporation
Vaccine Adjuvants Market 2024 Key Insights:
• The vaccine adjuvants market will grow to $2.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%.
• Rising Infectious Disease Prevalence Fuels Growth In The Vaccine Adjuvants Market
• Surge In Strategic Partnerships Shapes The Landscape Of The Vaccine Adjuvants Market
• North America was the largest region in the vaccine adjuvants market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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