Increasing R&D investments in Therapeutic Vaccines Market - Merck and GSK Have Interesting Pipelines
The global therapeutic vaccines market was valued at USD 11 billion in 2015 and is projected to reach USD 51 billion by 2021, at a compound annual growth rate (CAGR) of 29% during the forecast period of 2016 to 2021. Increasing prevalence of chronic diseases such as cancer and HIV/AIDS is fueling the market growth.
The report is an amalgamation of the current market scenario, its prospects and forces driving & restraining the market growth. The report highlights the North American, European, Asia-Pacific, Latin American and Middle East & African markets.
High costs of the vaccines and stringent regulatory guidelines are turning out to be restraints for this market.
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Our report on therapeutic vaccines is segmented based on type (auto immune disease vaccine, neurological disease vaccine, cancer vaccine and infectious disease vaccines) and by geography (North America, Europe, Asia-Pacific and Rest of the World).
North America is currently the largest therapeutic vaccines market globally, followed by Europe. Countries in the Asia-Pacific region are one of those places where this market is rapidly growing due to the increasing prevalence and investments in R&D.
The leading companies that dominate this market are Merck, GSK, Novartis, Pfizer and Dendreon.
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