Intramuscular vaccine adjuvants are pharmaceutical compounds that are added to vaccine formulations to boost immune responses and improve the effectiveness of vaccines. They help enable lower vaccine doses, which can help address vaccine shortages. Common intramuscular vaccine adjuvants include aluminum salts, oil-in-water emulsions, liposomes, and immunostimulatory complexes. They are used in vaccines for diseases such as influenza, HPV, hepatitis A & B, herpes zoster, pneumococcal disease, and others.
The Intramuscular Vaccine Adjuvants Market is estimated to be valued at US$ 694.19 Mn or 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.
Market Dynamics:
Growing disease burden and increasing vaccination drives are expected to drive the global intramuscular vaccine adjuvants market growth over the forecast period. For instance, according to the WHO, Influenza causes about 3-5 million cases of severe illness worldwide and about 290,000-650,000 respiratory deaths annually. This has resulted in increased emphasis on influenza vaccination globally. Furthermore, favourable regulatory landscape and approval of novel adjuvanted vaccines are also expected to aid market growth. For example, in December 2021, the FDA approved an adjuvanted recombinant zoster vaccine, Shingrix, for the prevention of herpes zoster. However, high costs associated with R&D of novel adjuvants may hinder market growth over the forecast period.
Segment Analysis
The intramuscular vaccine adjuvants market is dominated by the adjuvant emulsion sub-segment. Adjuvant emulsions are the most widely used type of adjuvants in intramuscular vaccines as they help induce strong immune response within the body. The particles sizes of emulsions help slow release of antigens which leads to a prolonged interaction of antigens with immune cells.
PEST Analysis
Political: Regulations for new drugs and vaccines are well defined by regulatory bodies like FDA and EMA which ensures safety and efficacy of adjuvanted vaccines before approval. However, lengthy approval processes can delay market entry.
Economic: High research and development costs associated with drug and vaccine development and clinical trials pose challenges. However, rising healthcare spending globally and demand for vaccines drives market growth.
Social: Increasing awareness about vaccine-preventable diseases and their economic impact boosts adoption of novel adjuvanted vaccines. However, in some regions, social media spread of misinformation increases vaccine hesitancy.
Technological: Advancements in adjuvant discovery along with synthesis of novel targeting systems and immunostimulants aid development of more effective and safer adjuvanted vaccines. Bioinformatics also helps in rational vaccine design.
Key Takeaways
The Global Intramuscular Vaccine Adjuvants Market Growth is expected to witness high, exhibiting a CAGR of 6.7% over the forecast period of 2023-2030, due to increasing government support for immunization programs worldwide. The market size for intramuscular vaccine adjuvants was valued at US$ 694.19 Mn in 2023.
Regional analysis indicates that North America dominated the market in 2023 due to presence of major adjuvant players and regulatory support for vaccine development in the region. Europe is expected to be the fastest growing market owing to rising spending on healthcare and lifestyle diseases.
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. Players are focusing on developing new adjuvants and formulation technologies, as well as undertaking strategic collaborations for market expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
