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(EMAILWIRE.COM, August 06, 2018 ) Global Therapeutic Vaccines Market is estimated at USD 2,700.58 Million in 2018, and is poised to reach USD 11,494.48 Million by 2023 with a CAGR of 33.6%. Therapeutic vaccine is a biological combination designed to develop immunity against a diseased cell or tissues. Therapeutic vaccines are developed to treat ailments from various cancers, HIV and Alzheimer’s disease. Therapeutic vaccine is used for cure and prevention of cancer whereas prophylactic vaccines are only used for prevention of cancer.
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Factors affecting market growth:
Increased funds from Government for vaccine development. (+)
Rise in cases of Chronic diseases (+)
Rising demand for Biologics and drugs for specific treatments like HIV infection and cardiovascular diseases (+)
Technological developments and initiatives by NGO’s (+)
Inefficient Research and Development (-)
Reimbursement policies are restraining the market growth. (-)
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The Global Therapeutic Vaccines market is geographically segmented into
Middle East and Africa
North America accounts for the large portion of revenue in the therapeutic vaccine market. The growth of this market will be boosted owing to the presence of advanced and active R&D establishments in the region. Followed by Asia with a fastest growth compared to other regions because growing diseased population and lot much development in technological aspects.
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Most important industries contributing to the global market are GlaxoSmithKline, plc., Merck and Company, Bavarian Nordic, CSL Limited, Emergent BioSolutions Inc., Novartis AG, Johnson and Johnson, MedImmune, LLC, Pfizer, Inc., and Sanofi Pasteur.
Market Data Forecast.