Report Overview
The vaccine adjuvants market is projected to reach USD 1.6 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 1.7% during the forecast period. Growth in the vaccine adjuvants market can be attributed to factors such as the collaborations and partnerships among market players for the development of vaccine adjuvants and an increasing number of COVID-19 vaccines in the development pipeline.
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This study involved four major activities in estimating the current size of the vaccine adjuvants market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
Vaccine Adjuvants Market Dynamics
Driver: Rising prevalence of infectious diseases
The prevalence of infectious diseases, such as influenza, tuberculosis, malaria, and HIV, among others, has increased. The WHO estimates that seasonal influenza results in ~3 to 5 million cases of severe illness and ~290,000 to 650,000 respiratory deaths each year. In this regard, national influenza centers (NICs) and other national influenza laboratories from 74 countries have reported that the Global Influenza Surveillance and Response System (GISRS) laboratories tested more than 204,655 specimens for influenza between January 20, 2020, and February 20, 2020.
Restraint: Skepticism about animal-sourced vaccine adjuvants and limitations on shark fishing
Squalene, derived from shark liver oil, is used in some adjuvants. This has led to the overfishing of sharks. As per the conservationist group Shark Allies, nearly 250,000 sharks need to be killed for the development of one COVID-19 vaccine dose for the global population.
Opportunity: Rising funding for vaccines and infectious disease research activities
With the emergence of COVID-19, government authorities and pharmaceutical biotechnology companies have recognized the importance of research on infectious diseases. In June 2022, the US announced a funding of USD 122 million to top Indian medical research institutes to prevent avoidable epidemics, early detection of disease threats, and rapid and effective response.
Challenge: Side effects and high toxicity of adjuvants
Vaccine adjuvants have various limitations, such as side effects and high toxicity, which are the major challenges hindering market growth. For instance, aluminum-based adjuvants have mild reactions after injection. Frequent occurrence of granulomas results in an increase in IgE production, and high levels of these salts cause neurological disorders and dialysis-associated dementia.
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The Asia Pacific region is the fastest-growing region of the vaccine adjuvants market
The Asia Pacific is estimated to be the fastest-growing segment of the market. The growth of the vaccine adjuvants markets of the region is drive by increasing investments in the life sciences sector and rising awareness through conferences symposiums, and growing emphasis on strategic initiatives such as partnerships, and collaborations by biopharma and biotech companies.
Key Market Players
GSK plc (UK), Dynavax Technologies (US), Novavax (US), Agenus Inc. (US), Croda International plc (UK), Seppic (France), OZ Biosciences (US), Phibro Animal Health Corporation (US), Associated British Foods plc (UK), InvivoGen (US), Merck KGaA (Germany), CSL Limited (Australia), Vertellus (US), Allergy Therapeutics (UK), Riboxx GmbH (Germany), CaPtivatϵ Pharmaceuticals LLC (US), EuBiologics Co., Ltd. (South Korea), Pacific GeneTech Limited (US), Hawaii Biotech Inc. (US), and Vaxine Pty Ltd. (Australia).
Veterinary Vaccine Adjuvants Market TOC @ https://www.marketsandmarkets.com/Market-Reports/vaccine-adjuvants-market-152603894.html
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