by The 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.
The Intramuscular Vaccine Adjuvants Market is estimated to witness high growth owing to increasing demand for improved vaccines.
Market Overview:
Intramuscular vaccine adjuvants are substances used to boost the immune response to a vaccine to provide immunity against specific diseases. They help vaccines work better in the body and provide longer-lasting protection against viral and bacterial infections. Adjuvants stimulate the immune system by mimicking a natural danger signal, which helps the vaccine work more efficiently.
Market key trends:
Intramuscular vaccine adjuvants market growth is driven by the increasing demand for improved and long-lasting vaccines and rising prevalence of infectious diseases. The adjuvants help to improve vaccine immunogenicity and efficacy against pathogens with low natural immunogenicity. Alhydrogel, MF59, AS03, CpG7909, and QS-21 are some of the commonly used intramuscular vaccine adjuvants. Additionally, ongoing clinical trials to develop COVID-19 vaccines is also fueling market growth. However, lack of regulatory approval and high R&D costs associated with new adjuvant development are some of the factors restricting market growth. Ongoing research on novel adjuvant formulations to enhance vaccine immunogenicity and reduce dose volume will provide lucrative growth opportunities in the market.
Porter’s Analysis
Threat of new entrants: The threat is low due to high capital requirement for R&D, manufacturing and marketing.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are several players offering vaccine adjuvants.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are many suppliers for raw materials.
Threat of new substitutes: The threat of new substitutes is low as adjuvants improve vaccine effectiveness.
Competitive rivalry: High due to presence of many players.
SWOT Analysis
Strength: Wide applications in therapeutic and preventive vaccines. Growing focus on adjuvanted vaccines.
Weakness: Side effects associated with adjuvanted vaccines. Complex production processes.
Opportunity: Increasing demand for pandemic vaccines. High potential in developing countries.
Threats: Stringent regulations. Safety issues related to pandemic vaccines.
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 prevalence of infectious diseases. The market size for 2023 is US$ 694.19 Mn.
Regionally, North America dominated the global market in 2023 and is expected to maintain its pole position over the forecast period. This is attributed to high awareness regarding vaccines, strong presence of leading players, and increasing funding for vaccine development in the region. Asia Pacific is expected to exhibit the fastest growth over the next few years owing to large population base and severity of diseases in developing nations.
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, and OZ Biosciences. Major players are focusing on expansions, new product launches, and collaborations with regional players to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
