Globally, the vaccine adjuvants market is witnessing high growth due to factors such as increasing prevalence of infectious and zoonotic diseases and technological advancements in aluminum hydroxide-based adjuvants. On the other hand, the high cost of adjuvants-based research is expected to restrain the growth of this market to a certain extent during the forecast period. Many of the key players in the market are focusing on the strategies of agreements, partnerships, collaborations, acquisitions, and expansions to strengthen their foothold in the market.
Based on product type, the vaccine adjuvants market is segmented into pathogen components, adjuvant emulsions, particulate adjuvants, and combination adjuvants. Adjuvant emulsions are expected to account for the largest share of the market in the forecast period. Growth in this product segment can largely be attributed to the increasing demand for improved efficacy of vaccines for improved and longer immune response and increasing company initiatives to develop and launch new vaccine adjuvants.
Based on route of administration, the vaccine adjuvants market is segmented into oral, subcutaneous, intranasal, intramuscular, intradermal, and other routes of administration. The intranasal segment is projected to witness the highest growth in this market due to ease and efficient administration of vaccines. Also, rising prevalence of infectious diseases have resulted in the increased need for advanced treatment options that will help to increase the R&D expenses on efficacy of the vaccines.
Based on disease type, the vaccine adjuvants market is segmented into infectious diseases, cancer, and other diseases. The cancer segment is projected to witness the highest growth in this market due to increasing prevalence of diseases and rising government investments. The increasing number of biotechnology firms across the globe and rising investments by companies in adjuvants-based research also provide advanced treatment options in the vaccine market for improved efficacy and long-lasting immunization.
Based on applications, the vaccine adjuvants market is segmented into research and commercial applications. The research applications segment is projected to witness the highest growth rate in this market due to rising government investments and the need for better and long-lasting immunization for emerging and existing diseases.
Based on application categories, the vaccine adjuvants market is segmented into human and veterinary adjuvants. The human adjuvants segment is projected to witness the highest growth rate in this market due to increasing need for better immunization against emerging and existing diseases.
In the coming five years, growth in the vaccine adjuvants market is likely to be centered in Asia. Growth in this region can be attributed to the high prevalence of infectious diseases. Furthermore, increasing initiatives by companies to expand their distribution networks and the large customer base in the Asian region are also expected to drive market growth in the coming years.