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2019-06-18
350
Global
Vaccine market is relatively small and concentrated on supply and demand sides, in comparison to pharmaceuticals market. Global vaccine market is highly regulated and to a great extent reliant on on public purchasers and donor policies. With extremely distinct features, vaccine market comprise of complexities of assessing and understanding pricing and procurement. Vaccine market is comprised of individual markets for individual vaccine types each with their own specificities, particularly on the supply side.
Vaccine Market, By Group
Vaccine Market, By Type
The global vaccine market size reached USD 40.1 billion in 2017 and is expected to grow at a CAGR of 11.2% over the forecast period. The inactivated vaccines segment is expected to dominate the market while DNA vaccine has the potential to witness the fastest growth over the forecast period due mainly to the high specificity and the reduced risk of integration into the genome as compared to other traditional vaccines. Next generation vaccines (HIV, Ebola, Obesity, Plague, Obesity, etc) tends to rule the market in the future on the basis of technologies reviewed targeting delivery devices, packaging and formulation.
North America dominated the global human vaccines market in 2017, accounting for about 42.5% of the total revenue. High Income Countries (HICs) comprises 81.8% of global vaccine sales in terms of value, corresponding to about 20% of the annual volume of vaccines sold. Africa region is witnessing the considerable growth in vaccine market owing to the government regulations and investments from the major players. US vaccine market trends and opportunities are analyzed with insightful market data.
Demand side vaccine market drivers are governments of industrialized and developing countries, pooled procurement agencies, the private sector, and the various regulatory and advisory bodies overseeing vaccine quality and safety. Global vaccination rates tends to rise, however wide discrepancies will remain from region to region. For instance, almost 50 million infants worldwide had not been vaccinated against DPT3, with almost 75% of those living in India, China, Nigeria, Indonesia, Pakistan, Ethiopia, Congo, Sudan, Bangladesh, and the Philippines.
Immunization programmes require functional, end-to-end supply chain and logistics framework to be successful. While the vertically managed disease control programs work independently from primary health care supply system, managed by the central pharmaceutical and medical stores. Within the healthcare system, disease-specific program require the physical infrastructure for storing and transporting health products. Approx 50 low and middle income countries are deprived of logistic systems to meet internationally recognized World Health Organization (WHO) criteria of effective vaccine management.
Major players of global vaccine market are BioFarma, Crucell, GlaxoSmithKline [GSK], Serum Institute of India, Ltd. [SIIL], Sanofi, Merck), Pfizer, Thai Red Cross. Recently, four-strain vaccine, known as a quadrivalent vaccine, Influvac Tetra developed by Mylan made available in New Zealand. In 2015, GlaxoSmithKline plc completed the acquisition of the vaccine business division of Novartis and received the approval for two new pediatric vaccines, Boostrix and Infanrixin India.
Next Generation Vaccine Platform
One vaccine is anticipated to cost USD 200 million and at least 10 years to be developed. The toughest challenges with the outbreak of Ebola and Zika, however, often lie in the timing and delivery that require a decade for inoculation. As far as innovations, companies are finding quicker ways to develop influenza vaccines using tobacco plants, insects, and nanoparticle systems, rather than relying on chicken eggs to incubate the virus and these methods hold the promise to save millions of dollars in development costs.
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