World News: 11:55 GMT Friday 7th December 2018. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Dec. 07, 2018 (GLOBE NEWSWIRE) -- The report has been added to offering.
Expanding government recommendations for immunizations, increasing technological innovations, unmet vaccine market needs for certain diseases, and increasing use of recombinant subunit and synthetic vaccines are the major factors contributing to the growth of the global vaccine adjuvants market which is expected to reach USD 1,036.40 million in 2023.
Geographically, as of 2017, North America accounted for the highest market value and is expected to register an estimated CAGR of 8.37% during the forecast period. Moreover, Asia-Pacific is expected to record the highest CAGR of 9.22% during the forecast period. The increasing investments for R&D activities, production, and rising indigenous production are propelling the market in Asia-Pacific.
Across the world, various governmental organizations are promoting and raising the awareness regarding immunization against various diseases, like anthrax, BCG, Hepatitis, HPV, Influenza, Varicella, Smallpox, and other conditions. The government spending on vaccination is a major thrust factor for development of new generation vaccines and adjuvants.
Currently, CDC recommends routine vaccination, in order to prevent 17 vaccine-preventable diseases that occur in infants, children, adolescents, or adults. The Indian government also recommends a similar number of proteins to be administered to infants, in order to prevent various diseases, like polio, diphtheria, typhoid, and other conditions.
All countries of the European Union have mandatory and recommended vaccination programs, along with various ways of implementing the national vaccination programs. This fact is fueling the global vaccination market's growth.
Moreover, most vaccines available recently are those used under government recommendations are being administered with an adjuvant. WHO launched the Global Adjuvant Development Initiative (GADI) to promote access to the public sector vaccine developers and manufacturers.
WHO created AdjuNet a network to facilitate sharing of data gained with the adjuvants being developed by GADI, to minimize duplication of studies, and to ensure that vaccines developed using adjuvants provided by GADI are made available to developing countries at affordable prices.
The world immunization profile has been mentioned in the graph below. These statistics state the effects of government initiatives in increasing immunization against various disease conditions, across the world. All of these factors are expected to propel the overall market for vaccine adjuvants over the forecast period.
Adjuvants have been used in human vaccines for over a century, yet, only very few adjuvants are licensed for use. The problem with these adjuvants used in modern day vaccines is the risk of adverse reactions, local or systemic. In addition, since each adjuvant generates a characteristic immune response, its applicability in many vaccines is limited.
For example, the inability of alum-based adjuvants to induce Th1 antibody isotopes or cellular immune responses and the poor adjuvant effect on polysaccharide antigens limit their applicability in many vaccines. Few vaccine adjuvants trigger unwanted hyperactive immune responses, increasing the chance of loss of self-tolerance and the immune system attacking its own cells and tissues. Even if no serious adverse effects are observed in an extensive non-clinical toxicological and safety study, it may not be guaranteed that the new adjuvant formulation presents no risks to the patient, as unexpected events may occur.
When considering vaccine development, the unacceptable side effects and toxicity preclude the use of many candidate adjuvants, as safety issues are paramount. To gain potency, minimizing toxicity is one of the major challenges in adjuvant development, which is hindering the expansion of the market.
North America captured the largest market share in the global vaccine adjuvant market. The dominance of the region may be attributed to factors, such as higher adoption, greater knowledge about regular vaccination, and presence of major market players, coupled with higher healthcare expenditure.
With growing prevalence of cancer and epidemic flu, a continuous investments in research is needed from the government, for which increased funding is received from the United States National Institutes of Health (NIH), FDA, and CDC.Consequently, with high funding, wide commercial availability of vaccines, awareness in society regarding vaccines contribute to the sustained growth in the United States at a CAGR of 7.99%.
Laura Wood, Senior Press Manager
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Related Topics: Vaccines
Globe Newswire: 11:55 GMT Friday 7th December 2018
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