Vaccine adjuvants are substances formulated as part of vaccines to boost the immune response of antigens and help create a stronger and longer-lasting immunity against infections and diseases. Adjuvants allow for lower doses of antigen as well as fewer immunizations focusing immune responses on the components that are most important for protection. The global vaccine adjuvant market is witnessing increased demand as adjuvants help in lowering the dose of antigen, which reduces the production cost of vaccines. Adjuvants are increasingly added to vaccines for infectious diseases such as influenza, pneumonia, meningitis, and polio.
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 driven by the rising incidence of infectious diseases worldwide. Adjuvants enhance vaccine efficacy by allowing lower antigen quantities, increasing dose availability and boosting market growth.
Leading adjuvant developers are focusing on geographical expansion and capacity enhancements to meet the growing global demand for adjuvanted vaccines. For instance, companies are expanding their production facilities in Asia Pacific and Latin America.
Market Key Trends
One of the key trends in the vaccine adjuvant market is the increased focus on the development of adjuvants compatible with mRNA-based vaccines. With the success of mRNA-based COVID-19 vaccines, developers are looking to develop advanced adjuvants to boost the immunogenicity of experimental mRNA vaccines for diseases such as influenza and HIV. Leading adjuvant makers are actively conducting clinical trials of adjuvanted mRNA vaccine formulations.
Porter's Analysis
Threat of new entrants: Regulations and intellectual property rights reduce opportunities for new entrants. However, there are low switching costs for buyers.
Bargaining power of buyers: Buyers have moderate bargaining power, as vaccine adjuvant is an important input but also because there are few substitutes and switching costs are low.
Bargaining power of suppliers: Suppliers have moderate power as suppliers have differentiated products and control key technologies, but market is fragmenting with new technologies.
Threat of new substitutes: Threat of substitutes is moderate as new vaccine technologies may one day replace adjuvants but traditional vaccines still dominate and new substitutes would need to overcome safety concerns.
Competitive rivalry: Competition is intense as the adjuvant market is highly fragmented with many smaller players and larger players investing in R&D for new technologies.
Geographical Regions
North America currently holds the largest share of the vaccine adjuvants market owing to the increased demand for vaccines and presence of key players in the region. However, Asia Pacific is estimated to witness the highest growth rate over the forecast period due to rising immunization programs, increasing awareness about vaccine adjuvants, and growing geriatric population.
Fastest Growing Region
Asia Pacific region is expected to witness the highest CAGR in the vaccine adjuvants market during the forecast period. This is attributed to factors such as growing immunization programs by governments, rise in disposable income, increasing demand for thermostable vaccines, and initiatives undertaken for advancing healthcare facilities in the region.
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Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
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