The vaccine adjuvants market is projected to reach USD 1.6 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 1.7% during the forecast period. Growth in the vaccine adjuvants market can be attributed to factors such as the collaborations and partnerships among market players for the development of vaccine adjuvants and an increasing number of COVID-19 vaccines in the development pipeline
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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.
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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.
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.
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