Reportstack has announced the publication of its report on the Global Therapeutic Vaccines Market, which is projecting steady growth at a CAGR of 62.81 percent from 2014-2018. The report shows that a stunning number of therapeutic vaccines currently undergoing clinical development indicates huge future growth potential in the market.
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.
“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, the 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. To know more details please visit http://www.reportstack.com/product/151987/global-therapeutic-vaccines-market-2014-2018.html.