Growing at a CAGR of 6.7% between 2024 and 2030, the vaccine adjuvants market value is expected to reach USD 1,375.9 million by 2030. The industry gains from an expanding number of player collaborations and product releases, rising disease incidence, growing immunization rates, improving public knowledge of immunization, and well-established reimbursement policies. The ongoing increase in the spending on the medical infrastructure is another important factor here.
In order to gain a competitive edge, there has been a rise in the number of collaborations and partnerships among players. Furthermore, due to the huge increase in a number of communicable and non-communicable disease cases over the past several years, the number of clinical trials for innovative vaccines armed with adjuvants, to enhance their effects, has also increased.
For instance, in order to perform a phase 2 clinical study for a plague vaccine adjuvanted with CpG 1018, Dynavax Technologies and the U.S. Department of Defense signed a fully funded partnership in October 2021. To test its safety, efficacy, and tolerability, the dosing of the first participant was accomplished in September 2022.
Moreover, in February 2021, a South Korean firm—SK Bioscience—and GlaxoSmithKline plc entered into a partnership for the development of a COVID-19 vaccine.
Further, developed nations, especially the U.S., have a sizable population, and a lot of visitors come here, which raises the demand for immunization to protect the local population. Hence, it is projected that an increase in the count of the supportive government activities for immunizing people against lethal diseases will boost the market. For instance, the National Institute of Allergy and Infectious Diseases launched a program in 2021 to enhance vaccine adjuvants for human usage.
Additionally, emerging economies, including India, China, and Brazil, provide a considerable development potential for the companies in the industry because of their expanding elderly populations, rising health expenditure per capita, and improving medical infrastructure.
The commercial category led the industry, with a share of 65%, in 2023. This is attributed to the sudden surge in the prevalence of various infectious and non-infectious diseases in the last few years, which has led to an increase in the usage of prophylactic and therapeutic vaccines, thereby increasing the demand for the associated adjuvants. Moreover, the rising cancer incidence has compelled the biopharmaceutical industry to come up with more-effective cancer vaccines with adjuvants, for enhanced efficacy.
Furthermore, the increase in the awareness among people regarding the importance of vaccination, rising number of government initiatives supporting immunization, and surging rate of product approvals are contributing to the category’s growth.
Research applications are showing a high growth rate as well, which is attributable to the increasing government support for research and development. Moreover, there has been a significant rise in the prevalence of neurodegenerative diseases, including Alzheimer’s and Parkinson’s, of late. According to the Alzheimer's Disease Association, 6.2 million people in the U.S. may have had this condition in 2022.
Additionally, as per the Parkinson's Foundation, around a million people are living with the condition in the U.S. The significant prevalence of these conditions has led to the increase in the research work in this field, in order to provide more-enhanced and better treatment solutions, which, in turn, is propelling the demand for adjuvants for vaccines.
APAC is predicted to see a significant CAGR, of 7.0%, during the projected period. This can be attributed to the continuous growth in the number of patients, the increase in the investments in healthcare facilities for the betterment of the quality of care and the accessibility of medications, and the significant amount of research being done by various academic and research institutions.
Essentially, the industry expansion is credited to the growing incidence of infectious and chronic illnesses, the rising government support for medical research and development, which is encouraging a rising number of pharmaceutical and biopharmaceutical companies to take it up; and the expanding healthcare and pharmaceutical industry infrastructure.
The top players in the market include GlaxoSmithKline plc, Dynavax Technologies, Novavax Inc., Agenus Inc., Croda International plc, Seppic, OZ Biosciences, Phibro Animal Health Corporation, and InvivoGen.