Vaccine Adjuvants Market is projected to grow from USD 1.5 billion in 2022 to USD 1.6 billion by 2027, at a CAGR of 1.7% from 2022 to 2027, according to a new report by MarketsandMarkets™. The growth of the market is projected to be driven by collaborations and partnerships among market players for the development of vaccine adjuvants, an increasing number of COVID-19 vaccines in the development pipeline and increasing focus on immunization programs.
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Key Market Players
The global vaccine adjuvants market is highly competitive. The prominent players operating in this market include GSK plc (UK), Dynavax Technologies (US), Novavax (US), Agenus Inc. (US), Croda International plc (UK), Seppic (France), OZ Biosciences (US), Phibro Animal Health Corporation (US), Associated British Foods plc (UK), InvivoGen (US), Merck KGaA (Germany), CSL Limited (Australia), Vertellus (US), Allergy Therapeutics (UK), Riboxx GmbH (Germany), CaPtivatϵ Pharmaceuticals LLC (US), EuBiologics Co., Ltd. (South Korea), Pacific GeneTech Limited (US), Hawaii Biotech Inc. (US), Vaxine Pty Ltd. (Australia), Creative Diagnostics (US), LiteVax BV (Netherlands), Mukta Industries (India), Oncovir, Inc. (US), and TiterMax USA, Inc. (US). Product launch, partnerships, collaborations and geographic expansion are the key growth strategies undertaken by these companies to maintain their positions in the market.
GSK plc (UK)
GlaxoSmithKline (UK) held the leading position in the market in 2021. The company has entered into collaborations and partnerships with a number of vaccine developers and is recognized for its contrition in the COVID-19 space. SK Bioscience (South Korea), Bharat Biotech International Limited (India), and Government of Canada (Canada) are some of the major partners of the company.
Dynavax Technologies (US)
In 2021, Dynavax focuses on inorganic growth strategies to maintain its market position. Biological E Limited (India), Clover Biopharmaceuticals (China), Valneva SE (France), and Medigen Vaccine Biologics (China) are some of the company’s partners in vaccine development.
Novavax (US)
Novavax is also one of the leading players in the vaccine adjuvants market. The company focuses on inorganic growth strategies such as partnerships to strengthen its market position. The company partnered with AGC Biologics (Denmark) and Serum Institute of India (India) for the development of vaccines for COVID-19 and malaria.
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The infectious disease segment accounted for the largest share of the disease type segment in the vaccine adjuvants market in 2021.
The infectious diseases segment accounted for the largest share of the market in 2021. The large share of this segment can be attributed to the increasing prevalence of infectious diseases and the rising demand for new adjuvanted vaccines.
The Asia Pacific region is the fastest-growing region of the vaccine adjuvants market in 2021.
The Asia Pacific is estimated to be the fastest-growing segment of the market. The growth of the vaccine adjuvants markets of the region is drive by increasing investments in the life sciences sector and rising awareness through conferences & symposiums, and growing emphasis on strategic initiatives such as partnerships, and collaborations by biopharma and biotech companies.
Recent Developments
- In October 2021, Dynavax Technologies (US) entered into a fully funded collaboration with the US Department of Defense to conduct a Phase 2 clinical trial for a plague vaccine adjuvanted with CpG 1018.
- In February 2021, SK Bioscience (South Korea)and GSK plc (UK)entered into a collaboration for COVID-19 vaccine development.
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