Adjuvants Market Size Forecast to Reach $1.9 Billion by 2026
Adjuvants market size is forecast to reach $1.9 billion by 2026, growing at a CAGR of 4.5% during the forecast period 2021-2026. Adjuvants are the substances that are used for enhancing the immunogenicity of an antigen. The innate immune system responds extremely rapidly to infection and adaptive immune response becomes more specific. It acts on both animals as well as plants having wide range of applications. It enhances the ability and protect against the infections. Naturally occurring pathogens helps in triggering non specific immune responses to the vaccines by targeting various receptors on the surface of the immune cells. Adjuvants are used in all types of medicines and for treating diseases including influenza, and viruses among others. Increasing awareness regarding the animal health and increasing prevalence of the zoonotic diseases are the major factors driving the growth of the market. Increasing usage of collagen in adjuvants and increasing demand of adjuvants for treating influenza is set to further enhance the overall market development of the Adjuvant Market for the period 2021-2026.
Adjuvants Market Segment Analysis – By Product
Vaccine Adjuvants held the largest share in the Adjuvants Market in 2020 and is estimated to grow at a CAGR 6.1% during the forecast period 2021-2026. This is owing to the increasing demand for vaccines against various diseases, increasing government initiatives for immunizations, and technological innovations. Vaccine adjuvants are immune potentiators that helps in activating the immune recognition pathways. It also helps in developing superior immune system in patients and enhances the potency of the vaccines. Aluminum salt based adjuvants and emulsion adjuvants are the most commonly used vaccine adjuvants that are used for enhancing the duration and the speed of the immune system. Vaccine adjuvants are estimated to register the higher CAGR over the period 2021-2026.
Adjuvants Market Segment Analysis – By Application
Medical & Pharmacy held the largest share in the Adjuvants Market in 2020 and is estimated to grow at a CAGR 5.6% during the forecast period 2021-2026. This is owing to the fact that it is used in all types of medicines as an additive and for treatment of diseases such as influenza, and virus among others. Adjuvants are also used to produce antibodies that are used for diagnostic procedures and are most commonly used in the production of the polyclonal antibodies. It also protects the antigen from the proteolytic destruction and preserves the conformational integrity of the antigens. Immunomodulators are used for enhancing the differentiation of the cells of the immune system. Research & Education are estimated to register the higher CAGR over the period 2021-2026.
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Adjuvants Market Segment Analysis – By Geography
North America dominated the Adjuvants Market with a major share of 31% in 2020. This is attributed to the increasing research & development, and increasing penetration of improved medication. Increasing health benefits of adjuvants, increasing availability of various treatments, increasing healthcare expenditure, and improving healthcare infrastructure is increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increasing healthcare awareness, and rising awareness regarding adjuvants. Increasing production technologies, increasing incidences of the zoonotic diseases, increasing demands for vaccine adjuvants along with the increasing healthcare expenditure is increasing the growth of the market in this region.
Adjuvants Market Drivers
Increasing Awareness Regarding the Animal Health
Increasing awareness regarding the animal health is increasing the growth of the Adjuvants Market. This is owing to the increasing government initiatives for promoting various campaigns regarding the advantages of the animal husbandry and animal vaccinations. Increasing initiatives for controlling the spread of the zoonotic diseases is also increasing the growth of the market. Various free vaccination for pets are provided by the Gaureng Department of Agriculture and Rural Development in the Gauteng Province. Thus, increasing the growth of the Adjuvants Market during the forecast period 2021-2026.
Increasing Prevalence of the Zoonotic Diseases
Increasing prevalence of the zoonotic diseases is increasing the growth of the Adjuvants Market. Zoonotic diseases includes bird flu, animal flu, and brucellosis among others. There are infections like campylobacter that are transmitted from animals to the humans and vice versa. Zoonotic diseases are very common according to the Disease Control and Prevention. It states that 6 out of 10 infectious diseases are transmitted to the humans from the animals. For treating these zoonotic diseases, various vaccines are used. Thus, increasing the growth of the Adjuvants Market during the forecast period 2021-2026.
Adjuvants Market Challenges
Higher Price of the adjuvants and Increasing Competition
Some of the factors that are set to impede the growth of the Adjuvants Market are higher price of the adjuvants and increasing competition. Stringent government regulations and the availability of limited number of adjuvants is set to hinder the growth of the market during the forecast period 2021-2026.
Adjuvants Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Adjuvants Market. In 2020, the Adjuvants Market share is consolidated by the top ten players present in the market. The Adjuvants Market, top 10 companies are BASF SE, Bayer CropScience AG, Koppert Biological Systems B.V., Marrone Bio Innovations, Andermatt Biocontrol AG, and Monsanto Company Inc. among others.
Key Takeaways
North America dominated the Adjuvants Market in 2020 owing to the increasing health awareness and increasing incidences of infleunza. The Adjuvants Market scope for different regions will be provided in the final report.
Increasing investment in research & development activities of various types of adjuvants and increasing usage of adjuvants for treating animal diseases are likely to aid the market growth of the Adjuvants Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Adjuvants Market report.
Higher price of the adjuvants and increasing competition is poised to create the hurdles for the Adjuvants Market.
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