Global Vaccine Market - One of Public Health's Most Effective Interventions: Infinium Global Research
PUNE, India, March 4, 2020 /PRNewswire/ -- Vaccines are one of the most successful health interventions that bring about significant reductions in infectious diseases and adverse health consequences and improve the quality of life in the population. A global report on "Global Vaccine Market (Type - Conjugate, Recombinant, Inactivated, Combination, Attenuated, and Others; Application - Infectious Disease, Cancer, Allergy, and Others) Global Industry Analysis, Trends, Size, Share and Forecasts to 2025 published by Infinium Global research" estimated the market value will reach up to USD 62.0 billion by 2025 with the compound annual growth of 7.06% over the forecast period (2019-2025).
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Over the past decade's vaccines have provided cost-effective improvements to human health. Vaccines have helped by reducing costs and care of the treatment, also by lowering economic consequences of work i.e. lower productivity and loss of work. With the advances of biotechnology more and more diseases are becoming vaccine-preventable, counting those for prominent killers like pneumonia and diarrhea.
Rising Prevalence of viral diseases is anticipated to promote the demand for vaccine market.
Major impact of the viral infection exerts through morbidity, impairment of personal health and cost of medical care. Most of the viral infection results into severe illness. Childhood viral pneumonia, Influenza and hepatitis are the viral diseases causing more than 1,000 deaths per year. Data analyzed by National Health Interview Survey of the National Center for Health Statistics show that the common cold annually causes 35.6 acute illnesses per 100 persons. The data provided by the National Therapeutic Disease Index which was based on visits by patients to a sample of 1,500 private physicians show that influenza and other acute respiratory conditions account for about one-third of all visits to physicians. Additionally, the recent outbreak of deadly Ebola, swine flu and Corona viruses has resulted in many deaths globally and for such infections vaccine is the prime treatment, which in turn augmenting the growth of the market.
Increasing Awareness on Immunization Will Drive the Global Vaccines Market
Growing awareness of immunization and its benefits in developing markets is steadily driving the global vaccine market growth. Government organizations such as the World Health Organization (WHO) is taking initiatives to increase awareness of vaccination through the global vaccine action plan (GVAP) and global Immunization vision and strategy (GIVS). World Health Organization and CDC are aiming to strengthen routine immunization to control morbidity and mortality from vaccine-preventable diseases, moreover, these organizations also helping middle-income countries to immunize more people with a wide range of vaccines which results in 123 countries reached 90% coverage of DTP3 vaccine in 2017. Moreover, 85% of the total infants across the globe (116.2 million), received 3 doses of diphtheria-tetanus-pertussis vaccine to increase immunization and protect them against infectious diseases that can cause serious illness and disability. The world health organization accomplishes this work through its biological program, with WHO Collaborating Centers, and the WHO Expert Committee on Biological Standardization (ECBS).
Shortage of Skilled Healthcare Professionals may restrain the Growth of Vaccines Market
The vaccine market growth is limited due to the severe shortage of skilled healthcare professionals for developing biologics drugs, which requires specialized skillsets. These skillsets are limited to some research organizations and medical equipment companies in the USA and Europe. As of 2018, 40% of the bio- pharma industry was facing difficulties in hiring process development staff due to the shortage of talent. This shortage also led to a rise in competition and salaries for the limited talent pool available for biologics talent, further limiting the growth of the vaccines market.
Encouraging Government Regulations are Expected to Provide Better Opportunity for the Vaccine Market Expansion
Governments across the world are encouraging the research and development of biologics to develop more targeted therapies and vaccines for various diseases. In May 2014, the US's FDA announced a fast-track initiative to review its drugs and biologics policy to speed the availability of therapies to patients with serious conditions, and orphan drugs for rare diseases, while preserving the safety and efficacy standards. Furthermore, in 2016, the FDA also removed a rule (Section 610.21 of the FDA code) which specified minimal potency limits for certain antibodies and antigens to release newer vaccines in the market. Besides, the FDA is also updating regulations (Section 610.53 of FDA code) regarding storage periods and storage conditions for biologics.
Recombinant Vaccines are Expected to Dominate the Market in the Forecast Period, Owing to Its More Promising Results
Based on the study the vaccine market is segmented by Type and by the application. Based on the type the vaccine market is further sub-segmented into conjugate, recombinant, inactivated, combination, attenuated and others. While the application segment is further divided into infectious disease, cancer, allergy, others.
Asia Pacific Region to Register High Growth During the Forecast Period. Owing to the Increasing Demand from Its Densely Populated Countries
Geographically the vaccine market is segmented into North America, Europe, APAC and RoW. North America vaccine market holds the highest share worldwide, followed by Europe. While the market in the Asia Pacific is expected to reach around 12 billion in the forecast period with the highest compound annual growth of 8.68%. Key players in the market.
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Global Vaccine Industry Coverage
Chapter - 1 Preface
- Report Description
- Research Methods
- Research Approaches
Chapter - 2 Executive Summary
- Vaccine Market Highlights
- Vaccine Market Projection
- Vaccine Market Regional Highlights
Chapter - 3 Global Vaccine Market Overview
- Introduction
- Market Dynamics
- Porter's Five Forces Analysis
- IGR-Growth Matrix Analysis
- Value Chain Analysis of Vaccine Market
Chapter - 4 Vaccine Market Macro Indicator Analysis
Chapter - 5 Global Vaccine Market by Type
- Conjugate
- Recombinant
- Inactivated
- Combination
- Attenuated
- Others
Chapter - 6 Global Vaccine Market by Application
- Infectious Disease
- Cancer
- Allergy
- Others
Chapter - 7 Global Vaccine Market by Region 2018-2024
- North America
- Europe
- Asia-Pacific
- RoW
Chapter - 8 Company Profiles and Competitive Landscape
- Mitsubishi Tanabe
- AstraZeneca
- Merck & Co. Inc.
- GlaxoSmithKline Plc (GSK)
- Pfizer Inc.
- SANOFI S.A
- NOVARTIS AG
- Takeda Pharmaceuticals
- Astellas Pharma Inc.
- Emergent BioSolutions
Browse in-depth TOC on "Vaccine Market"
About Us
Infinium Global Research is a business consulting and market research firm; a group of experts that caters to fulfilling business and market research needs of leading companies in various industry verticals and business segments. The company also serves government bodies, institutes and non-profit/non-government organizations to meet their knowledge and information needs.
Through our information services and solutions, we assist our clients to improve their performance and assess the market conditions to achieve their organizational goals. Our team of experts and analysts are engaged in continuously monitoring and assessing the market conditions to provide the knowledge support to our clients. To help our clients and to stay updated with the advances and inventions in technology, business processes, regulations and environment, Infinium often conducts regular meets with industry experts and opinion leaders. Our key opinion leaders are involved in monitoring and assessing the progress in the business environment, so as to offer the best opinion to our clients.
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SOURCE Infinium Global Research
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