Wilmington, New Castle, Delaware, March 12, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Vaccine Adjuvants Market by Product Type (Immunostimulants and Vehicles & Mucosal Adjuvants), Disease (Infectious Diseases and Cancer), and Application (Research and Commercial): Global Opportunity Analysis and Industry Forecast, 2023–2032”. According to the report, the vaccine adjuvants market was valued at $1 billion in 2022 and is estimated to reach $1.5 billion by 2032, exhibiting a CAGR of 4% from 2023 to 2032.
Prime Determinants of Growth
Growing healthcare infrastructure, rise in prevalence of disease conditions that require effective treatment, and growing awareness regarding the use of vaccine adjuvants in vaccine for research as well as commercial utilization are the factors that drive the growth of the global vaccine adjuvants market. However, high development cost and stringent regulatory requirements hinder the market growth. On the contrary, a rise in healthcare expansion and the growing infectious disease load are expected to offer remunerative opportunities for the vaccine adjuvants market during the forecast period.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size In 2022 | $1 Billion |
| Market Size In 2032 | $1.5 Billion |
| CAGR | 4.00% |
| No. Of Pages In Report | 280 |
| Segments Covered | Type, Disease, Application, And Region |
| Drivers | Increase In Vaccine Development Activities |
| Surge In the Number of Infectious Diseases | |
| Government Initiatives and Funding | |
| Opportunities | Growing Initiatives for Market Expansion |
| Restraints | High Developmental Cost |
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Recession Scenario
- During a recession, the impact on the healthcare industry, including vaccine adjuvants, has significantly affected the market in a moderately negative stance.
- The economic downturns may hinder technology investment. However, the growing infectious disease load among the global population and the rise in commercial as well as research utilization of adjuvants can drive interest in the vaccine adjuvants market.
The immunostimulants segment to maintain its lead position during the forecast period
Based on type, the immunostimulants segment dominated the market in 2022, accounting for more than half of the global vaccine adjuvants market. This is attributed to wide availability of vaccine adjuvants in the commercially available products. Also to boost the body's immune response to vaccines, immunostimulants are preferred, and development of innovative drug delivery systems further drives the segment growth.
The infectious disease segment to maintain its lead position during the forecast period
Based on disease, the infectious disease segment dominated the market in 2022, accounting for more than three-fourths of the global vaccine adjuvants market, as numerous people are affected by infectious diseases, which frequently have high incidence rates. As a result, there is a sizable market for adjuvanted vaccines against infectious pathogens. Adjuvants are essential for increasing the vaccinations' effectiveness and increasing their desirability for research and development as well as for commercialization.
The commercial segment to maintain its lead position during the forecast period
Based on application, the commercial segment dominated the market in 2022, accounting almost three-fourths of the global vaccine adjuvants market, mainly due to the availability of various commercially available vaccines for varied applications, and also the segment is anticipated to grow with the fastest CAGR owing to high prevalence of infectious diseases, thus further boosting the growth of the segment.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for almost two-fourths of the global vaccine adjuvants market, owing to presence of well-developed healthcare industry. In addition, the growing focus of key players on R&D contributes to the formulation of innovative vaccine adjuvants; thereby driving the market growth in the region. However, the Asia-Pacific segment is projected to register highest CAGR of 4.8% during the forecast period owing to increase in the number of infectious diseases leading to a surge in the patient populations and improving healthcare infrastructure in the region for research and development purposes.
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Leading Market Players:
- Adjuvatis
- Dynavax Technologies Corporation
- GSK
- Croda International
- Novovax
- SEPPIC
- Agenus Inc
- Invivogen
- SPI Pharma
- Aurorium
The report provides a detailed analysis of these key players of the global vaccine adjuvants market. These players have adopted different strategy such as partnership and business expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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