Human Papillomavirus Vaccine Market will Register at a CAGR of 5.0% through 2025

Human papillomaviruses cause various types of cancers such as cervical cancer, anal cancer, vaginal cancer, penile cancer, vulvar cancer, oropharyngeal cancer, and genital warts. The human papillomavirus infection can be prevented by the vaccination against human papillomavirus. The human papillomavirus vaccine market was valued approximately US$ 2.0 Bn in 2016 and is anticipated to reach US$ 3.5 Bn by 2025, expanding at a CAGR of over 5.0% from 2017 to 2025. Approval of new human papillomavirus vaccines in various countries is likely to fuel the human papillomavirus vaccine market from 2017 to 2025.

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Human papillomaviruses is a diverse group of DNA-based viruses that infect the mucous and skin membranes of humans and various animals. More than 100 different types of human papillomavirus have been characterized. Increasing prevalence of various cancers caused by human papillomavirus is expected to drive the market during the forecast period. According to the Centers for Disease Control and Prevention (CDC), human papillomavirus is the most common sexually transmitted infection in the U.S. Over 60% of penile cancers, 70% of vulvar and vaginal cancers, and 90% of anal and cervical cancers are caused due to human papillomavirus infection. CDC also states that about 14 million people are newly infected by human papillomavirus every year in the U.S. According to the Cancer Council Australia, almost all schools in Australia have chosen to participate in the National Human Papillomavirus Vaccination Program. More than 9 million doses of vaccine have been given to girls and young women in Australia. This initiation resulted in approximately 90% decrease in genital warts among heterosexual women and men under the age of 21 years and approximately 50% decrease in disease of high-grade cervical abnormalities in girls under 18 years of age.

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High unmet needs are expected to create huge opportunities for existing players and new entrants in the global human papillomavirus vaccine market. These vaccines are used against various types of human papillomavirus, which provides ample opportunities for players operating in the global human papillomavirus vaccines market. Recent developments in research and development of human papillomavirus vaccines fuel the growth of the market during the forecast period. In December 2015, Merck & Co., Inc. announced that the U.S. FDA has approved an extended age indication for Gardasil 9, a nonavalent human papillomavirus vaccine to include use in males 16 to 26 years of age for the prevention of anal and penile cancers and genital warts caused by certain human papillomavirus types.

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Human Papillomavirus Vaccine Market: Segmentation

The global human papillomavirus vaccine market has been categorized based on quadrivalent, and nonavalent and region. Quadrivalent, and nonavalent segment is projected to lead the market and is expected to continue its dominance during the forecast period followed by bivalent segment. The launch of new and increasing incidences of cervical cancer are likely to propel the segment. In terms of indication type, cervical cancer dominated the segment in 2016 and it is anticipated to continue its dominance during the forecast period. Anal cancer was the second most leading segment in 2016 and it is likely to continue this trend from 2017 to 2025. Based on distribution channel, government entities held the largest share of the market. However, the segment is anticipated to lose market share during the forecast period owing to public and private alliances such as GAVI that are focused on vaccinating people in developing countries

Geographically, North America accounted for the largest share of global human papillomavirus vaccine market in 2016. Recent approvals received by key players of the market in the region are attributed for increase market share of the region. The market share of Asia Pacific is projected to increase during the forecast period. In July 2017, GlaxoSmithKline plc. Received approval for Cervarix from China FDA. This is anticipated to drive the human papillomavirus vaccine market in the region. Initiatives by local governments to attain self-sufficiency in manufacturing pharmaceuticals is likely to boost the market in Latin America and Middle East & Africa.

Key players operating in the global human papillomavirus vaccine market include Merck & Co., Inc., GlaxoSmithKline plc. Sanofi, Johnson & Johnson, AstraZeneca, and Serum Institute of India Pvt. Ltd. These players adopted inorganic and organic growth strategies to increase their vaccine offerings, strengthen their reach across the globe, garner market share, and increase customer base.

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This release was published on openPR.