Vaccine Market: Growth & Revenue Opportunities by Top Key Players Gritstone Oncology, PaxVax Corporation., Bavarian Nordic, Bharat Biotech., VBI Vaccines Inc., Novavax, Inc., Dynavax Technologies Corporation and more

The Global Vaccine Market is estimated to be $ 31,216 million in 2016 and is expected to reach $ 6,141 million by 2023, an annual average growth of 10.9% from 2017 to 2023. The combined vaccine sector accounted for more than one-third of the global market in 2016.

Vaccines use antigen components to strengthen the immune system. This process helps develop adaptive immunity against pathogens and prevents morbidity from infection. Immunization plays an important role in the prevention strategies adopted in many countries. The high demand for vaccines in countries vulnerable to epidemics contributes to significant market growth.

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Key players operating in the vaccines market have adopted product launch as their key developmental strategy, and focus on launching innovative products to cater to the consumer requirements and strengthen their market share.

The major companies profiled in the report include
• Astellas Pharma Inc.
• Astrazeneca Plc. (Medimmune LLC.)
• CSL Limited
• Emergent Biosolutions Inc.
• Glaxosmithkline Plc.
• Johnson & Johnson
• Merck & Co. Inc.
• Pfizer Inc.
• Sanofi Pasteur
• Serum Institute of India Pvt. Ltd.

High prevalence of diseases requiring administration of vaccines and emerging vaccines for different infectious diseases, such as, HIV, dengue, and Zika virus infection, and different technologies employed in the development of effective vaccines are expected to drive growth of the global vaccines market in the future. In addition, focus of governments on immunization programs aids in creating awareness among people about safety and availability of vaccines.

However, it takes approximately 11-12 years for a single vaccine to be introduced in the commercial market. This prolonged procedure of vaccine development restrains the development of new vaccines, thereby hampering the market growth. In addition, high monetary inputs in the development of vaccines decrease their adoption, limiting the growth further.

The pneumococcal disease segment is anticipated to maintain its dominance during the forecast period, accounting for maximum market revenue throughout forecast period, owing to the fact that Streptococcus pneumoniae (a pathogenic bacteria) is the leading cause of infectious diseases globally.

In addition, high prevalence of these diseases in pediatric and geriatric population and growth in demand for varied serotype coverage propel growth of this segment. However, human papilloma virus (HPV) indication is growing at the highest CAGR of 12.4% from 2017 to 2023, as it is the most common type of sexually transmitted disease, specifically in women, which causes cervical cancer, the fourth most common type of cancer prevailing in women.

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The pediatric vaccine segment dominated the end use market, accounting for about half of the total share in 2016, due to the high immunization rate among infants and adolescents. Moreover, active government participation for amending vaccination to all children has augmented the market growth.

Key Findings of the Vaccines Market:
• The recombinant vaccines segment is anticipated to grow at the highest growth rate during the forecast period.
• The human papilloma virus (HPV) vaccines segment is expected to grow at a rapid rate, registering a CAGR of 12.4% from 2017 to 2023.
• North America dominated the global vaccines market, accounting for maximum share of overall market in 2016.
• Asia-Pacific is exhibited to grow at a high growth rate of 12.0%, owing to the high demand for vaccination in densely populated area, such as India and China.
• The pediatric vaccines segment generated highest revenue in 2016, and is expected to continue its dominance in the future as well.
• The traveler vaccines segment is expected to exhibit high growth rate during forecast period, attributed by international travelers and mandated vaccination for immigrants before traveling.

Asia-Pacific has witnessed highest growth rate for vaccines, and is expected to continue this trend. This is attributed to increase in sizeable population, rise in incidence of HIV & cancer cases, healthcare infrastructural development, and huge market potential, owing to the new arrival of preventive, therapeutic, and adult vaccines by key players focusing on the emerging markets.

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