Vaccines Market value to hit $72.5 billion by 2025 : Global Market Insights
Global Market Insights, Inc., announces a research report on ‘Vaccines Market Trends and Forecast 2019-2025’. The report covers an extensive summary of the age group, technology, disease, regional, and competitive landscapes. Global Vaccines industry revenue is set to exceed $72.5 billion by 2025.
Global vaccines market size has expanded rapidly owing to increased prevalence of chronic disorders and a rising population base. Improved healthcare systems and better awareness throughout emerging economies has strengthened the demand for critical therapies, while higher disposable incomes and favorable health insurance policies have enabled access to advanced treatment options.
Enhanced understanding about the importance of vaccination among new parents will boost consumption over the coming years. The immense revenue potential for vaccines industry is indicated from the fact that global population is expected to rise by more than 6% over 2019-2025.
Vaccines for children play an important role in ensuring long term health, with hospitals and clinics providing necessary vaccination schedules, from the first two years of a child to doses being given over 4-6 years. These could include vaccines for the prevention of DTP, Hepatitis, influenza, among several others.
Although most countries around do not make vaccinations compulsory, government agencies are involved in promoting how vaccines work and also chart out guidelines for their use. For example, the Centers for Disease Control and Prevention (CDC) in the U.S. decides which vaccines should be given to people from any age group.
Hepatitis B is often transmitted from a mother to child during birth, besides spreading through sharp instruments or needles. Babies can get the virus during pregnancy and can it lead to a child developing chronic diseases, while also being at a high risk of liver cancer.
WHO has reported that kids who are 6 years or younger infected with Hepatitis B are more likely to develop chronic infections, which could later result into cirrhosis. Undoubtedly, protecting children against the Hepatitis virus will generate tremendous revenues for child vaccines industry over the projected period.
Cancer vaccines for kids can be expected to witness increased adoption due to the prevalence of HPV and Hepatitis B viruses, which lead to developing the fatal disease. Changing lifestyles and unhealthy smoking and drinking habits have raise the frequency of cancer among adults worldwide.
Nearly 234,000 new lunch cancer cases were projected to be diagnosed in 2018 across the U.S., where most of the lung cancer patients have been diagnosed over the previous five years. Rising occurrence of cancer and a lack of effective, easily accessible treatments will substantially drive global vaccines market outlook.
With increasing health awareness and education, particularly through schools, social platforms and expert articles on vaccines, hospitals have observed a surge in the number of people ready to be vaccinated. Toxoid vaccines are steadily gaining momentum as potent immunization products, designed to make the human body immune to the virus or bacteria they are made from.
Diphtheria and tetanus are two of the most common toxoid vaccinations worldwide. CDC data shows that the overall case-fatality rate for diphtheria is around 20% for persons above 40 years as well as younger than 5 years, further demonstrating the significance of vaccines for children.
Rising preference for vaccines during pregnancy has impacted the demand for influenza shots and tetanus toxoid vaccinations in North America, with the primary aim being to protect the baby against preventable diseases. U.S. vaccines industry size is immensely influenced by the lifestyle of people as well as migration trends.
Driven by the expanding adoption of vaccines in the U.S. and the numerous initiatives undertaken by government bodies for vaccination programs, U.S. vaccines market size will depict a CAGR of 8.9% over 2019-2025.
According to Stanford Children’s health, children born to mothers from China and South-east Asia, where Hepatitis B is significantly prevalent, are also at risk for contracting the virus. With U.S. boasting of a huge migrated population from Asia-Pacific, the country could experience augmented consumption of vaccines for kids in the next few years.
North America vaccines market share can be expected to record notable proceeds over the analysis period due to mounting cases of pneumonia every year across the U.S., Canada and other nearby countries. Reportedly, around 900,000 Americans suffer from pneumococcal pneumonia annually, affirming the substantial need for providing pneumococcal disease vaccinations throughout the region.
Presence of major pharmaceutical companies and access to advanced healthcare technologies, Medicare policies and massive R&D investments are some factors driving the regional vaccines industry forecast.
AstraZeneca, Pfizer, Sanofi, Merck & Co., GlaxoSmithKline, Abbot, Johnson & Johnson, Novartis and Astellas Pharma are some of the key players outlining the competitive hierarchy of global vaccines market. Companies are involved in merger and acquisition strategies to expand their capabilities and market penetration, while heavy investments are made into collaborative partnerships with other businesses.
Development of novel and more effective vaccinations for cancer, aids and many chronic disorders has been a major force defining the path for pharmaceutical manufacturers and biotechnology firms, through the use of the latest research and production technologies available.
A promising collaboration between Bristol-Myers Squibb and Neon Therapeutics consists of developing a vaccine candidate for advanced or metastatic melanoma, bladder cancer and smoking-related non-small lung cell cancer. The companies recently unveiled promising results from clinical trial of Neon’s neoantigen vaccine with Bristol-Myers nivolumab.
Similar efforts worldwide between other industry players will bolster vaccines market size considerably. Sanofi had made an EUR 80 million investment in biotech company BioNTech to co-develop a vaccine for cancer and the partnership has moved from concept to clinical stage within three years.
Different type of vaccination technologies have been studied in the report titled global vaccines market, being segmented into attenuated, conjugated, inactivated, recombinant and toxoid vaccines. Demand for each of product will depend hugely on business and age group trends over the next few years, in addition to accessibility of required healthcare services.
Enhanced diagnostic equipment being deployed in hospitals and clinics will increase the number of chronic cases reported, propelling the consumption of vaccines for children and adults.