The Global Preventive Vaccine Market is estimated at $30.24 Billion in 2015 and is poised to reach $55 billion by 2020 with a compound annual growth rate of 12.74%. The vaccine market accounts for only 5 % of the global pharmaceuticals market. However, recently there has been a substantial growth owing to the rising incidences of cancer & HIV cases. Nevertheless, there has been rapid growth over recent years, with the vaccine market magnifying in value from USD 5 billion in 2000 to almost USD 25 billion in 2013. World Health Organization growth estimations indicate the market may increase in value to almost 60 billion 2020, with the arrival of new therapeutic, preventive and adult vaccines.
The vaccine Market is different from any other product market. Compared to the pharmaceutical market it is relatively small, although growing at a fast rate. There are presently close to 120 new vaccines in the pipeline of various multinational companies across the globe set to hit the market in the next few years. The vaccine market is rather concentrated on both supply and demand sides. It is highly regulated and mostly dependent on public purchasers and donor policies. It has very distinct features which increase the complexity of assessing and understanding pricing and procurement in their context.
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Increase in funding’s from government for vaccine development, rise in investments by the major market players, rising prevalence of disease, technological advancements to decrease the new vaccine development time, initiatives by NGO’s are some of the factors that are propelling the vaccines market growth. However, massive capital expenditures and stringent regulatory policies, high cost associated with treatment are few factors inhibiting the growth of the market.
The Global Preventive Vaccines Market is segmented by type of vaccine as Live, attenuated vaccines, Inactivated vaccines, Toxoid vaccines, Subunit vaccines, Conjugate vaccines, DNA vaccines and Recombinant vector vaccines. In addition, based on age groups the market is categorized as Paediatric Vaccine (Pneumococcal, MMR, Varicella, Hepatitis, Poliovirus, HIB and others) and Adult vaccines (Influenza, Cervical Cancer, Hepatitis, Zoster and others). Furthermore, based on geography the global market is analysed under various regions namely, North America, Europe, Asia Pacific, Latin America and Middle-East & Africa. North America accounts for the large portion of revenue in the therapeutic vaccine market. The growth of this market will be boosted owing to the presence of advanced and active R&D establishments in the region.
Multinational vaccine companies historically have conducted much of the innovation, research, and development in the field of vaccine production. They have used significant revenues, global size, and deeper expertise to fund. Some of the key players influencing the global preventive vaccine market are GlaxoSmithKline, plc., Merck and Company, Bavarian Nordic, CSL Limited, Emergent BioSolutions Inc., Novartis AG, Johnson and Johnson, MedImmune, LLC, Pfizer, Inc., and Sanofi Pasteur.
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