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| Global Intramuscular Vaccine Adjuvants Market |
The global Intramuscular Vaccine Adjuvants Market is estimated to be valued at US$ 694.19 Mn in 2023 and is expected
to exhibit a CAGR of 6.7% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Intramuscular vaccine adjuvants are immunostimulant components added to
vaccines to create a stronger and more robust immune response to the antigens
present in the vaccine. Adjuvants are crucial in vaccine development as they
allow for lower dosing of expensive vaccine antigens while still generating
protective immunity. Without adjuvants, higher vaccine antigen doses would be
needed to achieve the same protective immune response. The advantages of
intramuscular vaccine adjuvants include enhancing and broadening the immune
response as well as reducing the amount of antigen and number of immunizations
needed.
Market key trends:
One of the key trends in the intramuscular vaccine adjuvants market is
increased investment in research and development activities. Major players are
focusing on developing novel adjuvants to enhance vaccine effectiveness against
diseases. For instance, in October 2020, Vaxine Pty Ltd announced a
collaboration with Medigen Vaccine Biologics Corporation to develop an
adjuvanted COVID-19 vaccine using Vaxine’s COOH Intramuscular Adjuvant System. Similarly,
in October 2021, Agenus Inc. received an Advanced Development and Manufacturing
Agreement from the U.S. Department of Defense to accelerate the development of
its adjuvant with mRNA vaccines. Such increased R&D focus on developing
effective adjuvanted vaccines is expected to support market growth over the
forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the Global
Intramuscular Vaccine Adjuvants Market is moderate. Developing new
adjuvants requires significant R&D investments and time for clinical
trials. The presence of stringent regulations also acts as a barrier.
Bargaining power of buyers: The bargaining power of buyers in the intramuscular
vaccine adjuvants market is moderate. The presence of several vaccine adjuvants
manufacturers provides choices to buyers. However, high switching costs limit
the buyer power.
Bargaining power of suppliers: The bargaining power of suppliers is moderate.
The key raw materials for vaccine adjuvants such as immunostimulants and delivery
systems are specialized. However, the availability of substitutes balances the
supplier power.
Threat of new substitutes: The threat of new substitutes in the intramuscular
vaccine adjuvants market is moderate. The emergence of novel adjuvants may
substitute the existing ones. Still, stringent safety and efficacy requirements
for new substitutes pose challenges.
Competitive rivalry: The competitive rivalry in the intramuscular vaccine
adjuvants market is high owing to the presence of major players. Manufacturers
compete on the basis of vaccine effectiveness, production capacity, and
pricing.
Key Takeaways
The global intramuscular vaccine adjuvants market is expected to witness high
growth, exhibiting CAGR of 6.7% over
the forecast period, due to increasing demand for adjuvants from development of
new vaccines.
North America dominates the global intramuscular vaccine adjuvants market and
is expected to continue its dominance over the forecast period. This is
attributed to growing government support for vaccine development in the U.S.
and Canada. However, Asia Pacific is anticipated to showcase the fastest growth
rate owing to rising immunization programs, increasing healthcare spending, and
developing R&D infrastructure in the region.
Key players operating in the intramuscular vaccine adjuvants market are
Novavax, Inc., Adjuvance Technologies, Inc., Invivogen, Vaxine Pty Ltd.,
SEPPIC, SPI Pharma, Inc., Agenus Inc., Avanti Polar Lipids, Inc., CSL Limited,
OZ Biosciences. Novavax and Adjuvance Technologies have strong product
portfolio and dominate the global market.
Read More:
https://www.ukwebwire.com/intramuscular-vaccine-adjuvants-market-scope/