North America Therapeutic Vaccines Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 121 | Report Code: BMIRE00032090 | Category: Life Sciences
No. of Pages: 121 | Report Code: BMIRE00032090 | Category: Life Sciences
The North America therapeutic vaccines market size is expected to reach US$ 13,60,744.52 thousand by 2031 from US$ 5,65,764.46 thousand in 2024. The market is estimated to record a CAGR of 13.4% from 2024–2031.
The therapeutic vaccines market in North America is segmented into the US, Canada, and Mexico. The North American region is anticipated to play a pivotal role in driving the market's growth. Key factors contributing to this growth include the rising cancer incidence, increasing investments in research and development, and a surge in product launches. Additionally, strategic initiatives such as the development of new products, regulatory approvals, collaborations, and acquisitions are further propelling the expansion of the therapeutic vaccine market in the region.
Key segments that contributed to the derivation of the therapeutic vaccines market analysis are product, technology, and end user.
Chronic conditions such as cancer, neurological diseases, and autoimmune diseases are becoming more widespread globally due to factors such as aging, lifestyle changes, and environmental influence. According to the World Health Organization's (WHO) Noncommunicable Diseases Factsheet 2023, these diseases account for 41 million global deaths annually, equivalent to 74% of total mortality. Per the Global Cancer Facts & Figures, ~20 million cancer cases were diagnosed in 2022, and 9.7 million people died from the disease in the same year. Moreover, as per a study titled "Global, regional, and national burden of disorders affecting the nervous system, 1990–2021," released by The Lancet Neurology in April 2024, more than 3 billion people (43% of the world's population) were living with a neurological condition worldwide in 2021. According to an article titled "The Global Landscape of Autoimmune Disease," published in February 2024, autoimmune diseases affect 5–10% of the industrial world population; it also states that ~50 million Americans are affected by autoimmune diseases. In addition, as per the WHO multiple sclerosis factsheet, over 1.8 million people suffered from multiple sclerosis worldwide as of August 2023.
Thus, the surging incidences of various chronic conditions highlight the urgent need for innovative therapeutic interventions. Therapeutic vaccines are designed to treat existing diseases instead of preventing their onset. These vaccines aim to stimulate the body's immune system to target and treat specific diseases. In cancer treatment, the Sipuleucel-T (Provenge) vaccine has demonstrated the potential to improve survival rates in prostate cancer patients. Amid the elevating demand for innovative treatments for chronic diseases, therapeutic vaccines are expected to offer a new approach to long-term disease management and improve patient outcomes globally. Thus, the rising prevalence of chronic diseases fuels the therapeutic vaccines market growth.
Based on country, the North America therapeutic vaccines market comprises the US, Canada, and Mexico. The US held the largest share in 2024.
The therapeutic vaccines market in the US is experiencing significant growth, driven by the increasing prevalence of chronic diseases, cancer, and infectious diseases. According to the American Cancer Society, in 2022, more than 1.9 million new cases of cancer were diagnosed in the nation, causing ~0.61 million deaths. In 2024, 2.0 people in the US were diagnosed with cancer. With rising cancer cases, there is a growing demand for innovative treatment options. Therapeutic vaccines, designed to stimulate the immune system to target cancer cells, offer promising alternatives to traditional therapies. Provenge (sipuleucel-T), approved by the FDA in 2010, is the first therapeutic cancer vaccine to receive approval. It is specifically designed for prostate cancer, highlighting the potential for immunotherapies to provide life-extending treatments. This rising number of cases propels research and development investments as well as encourages collaborations among companies and academic institutions.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 5,65,764.46 Thousand |
| Market Size by 2031 | US$ 13,60,744.52 Thousand |
| CAGR (2024 - 2031) | 13.4% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
|
Some of the key players operating in the market include CureVac SE, THERAVECTYS SA, Transgene SA, INOVIO Pharmaceuticals Inc, ISA Pharmaceuticals BV, Amgen Inc, Merck & Co Inc, Serum Institute of India Pvt. Ltd, BioNTech SE, and Dendreon, among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The North America Therapeutic Vaccines Market is valued at US$ 5,65,764.46 Thousand in 2024, it is projected to reach US$ 13,60,744.52 Thousand by 2031.
As per our report North America Therapeutic Vaccines Market, the market size is valued at US$ 5,65,764.46 Thousand in 2024, projecting it to reach US$ 13,60,744.52 Thousand by 2031. This translates to a CAGR of approximately 13.4% during the forecast period.
The North America Therapeutic Vaccines Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Therapeutic Vaccines Market report:
The North America Therapeutic Vaccines Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Therapeutic Vaccines Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Therapeutic Vaccines Market value chain can benefit from the information contained in a comprehensive market report.
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