The global vaccine market valuation is
expected to exceed USD 77.5 billion by 2024, according to a new report by Grand
View Research, Inc. Development of various molecules to cater to the growing
demand for vaccines can drive market demand. Majority of the key players are focused
on vaccine development to gain an edge over competitors. For instance, Pfizer,
Inc., is developing vaccines for Clostridium difficile, Staphylococcus aureus,
and Meningococcal B.
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.
Access
Research Report of Vaccine
Market@ www.grandviewresearch.com/industry-analysis/vaccine-market
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.
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
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
·
MEA
o
South Africa
Access
Press Release of Vaccine Market@ www.grandviewresearch.com/press-release/global-vaccine-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
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