Vaccine Adjuvants Market in terms of revenue was estimated to be worth $0.8 billion in 2023 and is poised to reach $1.2 billion by 2028, growing at a CAGR of 6.9 % from 2023 to 2028 according to a new report by MarketsandMarkets™. The global vaccine adjuvants market is expected to grow at a CAGR of 6.9% during the forecast period. The major factors driving the growth of the market are collaborations & partnerships among market players for vaccine adjuvants development, increasing focus on immunization programs and rise in number of vaccine approvals in last 2-3 years.
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The adjuvant emulsions segment is expected to have the dominant share of the vaccine adjuvants market
Based on product, the global vaccine adjuvants market is segmented into adjuvant emulsions, pathogen components, saponin-based adjuvants, particulate adjuvants, and other adjuvants. In 2022, the adjuvant emulsions segment accounted for largest share of the vaccine adjuvants market. Increased use of adjuvant emulsions in the vaccine production is serving as driving factor for the growth of the adjuvant emulsions segment during the forecast period.
The infectious disease segment accounted for the largest share of the disease type segment in the vaccine adjuvants market
The infectious diseases segment is the fastest growing segment and accounted for the largest share of the market in 2022. The large share of this segment can be attributed to rising demand for novel adjuvanted vaccines for infectious diseases. Rising focus on development of plant-based adjuvants is further likely to have positive impact on the segmental growth.
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 on the region is driven by rising emphasis on strategic initiatives such as partnerships, collaborations & expansion and increased adoption of adjuvanted vaccine among the patent population.
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Key Market Players:
The vaccine adjuvants market is competitive, with a small number of players competing for market shares. Dynavax Technologies (US), GSK plc (UK), Croda International plc (UK), SEPPIC (France), Novavax (US), SPI Pharma (Associated British Foods plc) (UK), Agenus Inc. (US), Phibro Animal Health Corporation (US), Aurorium (Vertellus) (US), Merck KGaA (Germany) are some of the leading players in this market.
Dynavax focuses on inorganic growth strategies to maintain its market position. The company is more focusing on advancing vaccine innovation and Its actively engaged in developing CpG 1018 as a premier vaccine adjuvant through different collaborations and partnerships with biopharmaceutical and biotechnology companies and government bodies.
Croda International Plc (UK) is the leading position in the market. The company has entered into collaborations and partnerships with a number of vaccine developers.
Major Highlights of the Vaccine Adjuvants Market
· The vaccine adjuvants market has seen growth due to the increasing emphasis on vaccine development.
· The COVID-19 pandemic has significantly accelerated research and development in the field of vaccines.
· Ongoing research has focused on developing new and improved adjuvants with better safety profiles and enhanced immunogenicity. Advances in nanotechnology and molecular biology have played a role in this.
· The industry has witnessed collaborations between pharmaceutical companies, research institutions, and governments to facilitate the development and commercialization of vaccines.
· Increasing awareness of the importance of vaccination, along with global vaccination initiatives, has driven the demand for vaccine adjuvants.
· Beyond infectious diseases, there is a growing interest in utilizing adjuvants for cancer vaccines and other immunotherapies.
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