The high growth potential in emerging markets has opened an array of opportunities for the market. However, the high cost of adjuvant-based research and proven safety of adjuvants are hampering the growth of the global market.
What the Market Looks Like?
The vaccine adjuvants market is expected to reach USD 769.4 Million by 2021 from USD 467.0 Million in 2016 at a CAGR of 10.5%. Geographically, the vaccine adjuvants market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW).
The global vaccine adjuvants market consists of human and veterinary adjuvants that are used to improve the efficacy of vaccines. This market is driven by several factors such as increasing government funding for research, high prevalence of diseases, expanding biotechnology and biopharmaceutical industries, and growing focus on prevention of diseases.
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What are Key Trends in the Market?
The growth of the Vaccine Adjuvants Market is primarily influenced by the following factors:
- Increasing Use of Adjuvants in Vaccine
- High Prevalence of Infectious and Zoonotic Diseases
- Increase in Livestock and Instances of Diseases
- Increasing Focus on Immunization Programs From Various Government Bodies
- Technological Advancements in Aluminum Hydroxide-Based Adjuvants
- Increasing Focus and Support on the Discovery and Development of Vaccine Adjuvants
- Increasing Geriatric Population
On the basis of product type, the market is segmented into pathogen components, adjuvant emulsions, particulate adjuvants, combination adjuvants, and other adjuvants. The particulate adjuvants segment is expected to account for the largest share of the global vaccine adjuvants market in 2016
On the basis of route of administration, the market is segmented into oral, subcutaneous, intranasal, intramuscular, intradermal, and others. The intramuscular segment is expected to account for the largest share of the global vaccine adjuvants market in 2016. Factors such as the rapidly growing geriatric population and vaccines for improved immunization are propelling the growth of this market. Rise in collaborations and acquisitions by private organizations and increased funding by government bodies for research and development are also expected to drive market growth.
Geographically, the vaccine adjuvants market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). However, Asia is projected to grow at the highest CAGR during the forecast period. Growth in the North American segment is primarily driven by the increasing geriatric population and rising incidences of diseases in the North American countries.
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