Global Vaccine Market is expected to reach over USD
77.5 billion by 2024, according to
a new report by Grand View Research, Inc. The presence of numerous
molecules in the pipeline is anticipated to meet the demand for efficient
vaccines. These include vaccines for chest infection, tuberculosis, malaria,
and dengue. Most of the key players are actively leveraging on their vaccine
development technologies to launch novel preventative solutions with an
objective to increase their market share. For instance, Pfizer, Inc. is
involved in the development of vaccines to prevent severe infections caused by
Meningococcal B, Clostridium difficile, and Staphylococcus
aureus.
Furthermore, the
broad coalition of governments, worldwide, working to promote the awareness of
vaccination benefits through immunization programs with the objective of
containing the propagation of communicable diseases that are associated with
high morbidity and mortality is expected to stimulate the market growth.
For instance, the
‘Immunize Australia Program’ sponsors the immunization of individuals, which
acts as a preventative action in preventing disease occurrence and checks
rampant disease transmission thus protecting millions of Australians from
severe diseases. Another program that has been involved in achieving extensive
immunization coverage on the Indian continent is the National Immunization
Program, a government program that has focused on taking strong preventive
measures to offset vaccine-preventable diseases, particularly in children.
Full Research Report on Global Vaccine Market Analysis:
Further key findings from the study suggest:
- The inactivated vaccine type segment was
estimated to have over 14.5% market share in 2015 owing to the related
advantages including easy storage and transport due to the highly stable
nature of these vaccines. In December 2015, Sanofi Pasteur, Inc. launched
a new trivalent, inactivated polio vaccine in India.
- The DNA vaccine segment is presumed to
be the fastest growing type over the forecast period owing to the ease of
production compared to the cell-based vaccines and the promising, targeted
immunization outcomes coupled with the continual developments in the biotechnology
area. Other advantages associated are ease of production, long lasting
immunogenicity, and no risk of reversion.
- The cancer application segment is
expected to witness the fastest growth with a CAGR of over 11.8% in the
vaccinations market majorly attributable to the need for immunization
against cancer coupled with the increasing prevalence of various types of
cancer, such as cervical and colorectal cancers.
- North America dominated the market in
terms of revenue with over USD 12 billion in 2015, due mainly to the
presence of extensive research and development activities and the
existence of key participants of the industry in this region
- Asia Pacific is identified to witness a
lucrative growth with a CAGR of around 10.7% during the forecast period due
to the growing population base and the increasing economic growth of
countries, such as China, Japan, and India. Moreover, the availability of
skilled labors at a lower cost and the low manufacturing operations cost
provide a platform for clinical trial outsourcing of the vaccinations
under development to expedite commercialization.
- Leading players in this industry, among
others are, Merck & Co., Inc., Emergent BioSolutions, Inc., Johnson
and Johnson, Sanofi Pasteur, Inc., Pfizer, Inc., Novartis AG, CSL Ltd.,
and GlaxoSmithKline Plc. Other prominent players include Abbott
Laboratories, Inc., AstraZeneca plc, Janssen Pharmaceuticals, Inc., Takeda
Pharmaceuticals Company Ltd., and Valeant Pharmaceuticals International,
Inc.
- In April 2016, VBI vaccines, Inc.
entered into a collaborative agreement with Sanofi Pasteur, Inc. to employ
its “Lipid Particle Vaccine” formulation technology to better the
stability of the Sanofi vaccines.
View more reports of this category by Grand View Research
at: http://www.grandviewresearch.com/industry/biotechnology
Grand View Research has segmented the Global Vaccines
Market on the basis of type, application, and region:
Global Vaccines Market By Type (Revenue, USD Million,
2013 - 2024)
- Inactivated vaccines
- DNA vaccines
- Attenuated vaccines
- Subunit vaccines
- Conjugate vaccines
- Toxoid vaccines
- Others
Global Vaccines Market By Application (Revenue, USD
Million, 2013 - 2024)
- Infectious diseases
- Cancer
- Autism
- Allergy
- Others
Vaccines Market By Region (Revenue, USD Million, 2013 -
2024)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- MEA
- South Africa
View press release of this research report by Grand View
Research:
About Grand View Research
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Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company
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