Vaccines Market to Exhibit A Lucrative Growth Of 9% CAGR| Top Players: AstraZeneca, Abbott, Bristol-Myers Squibb, Merck

Global Vaccines Market is set to exceed USD 65 billion by 2024; according to a new research report by Global Market Insights, Inc. Introduction of innovative technologies in vaccination, rising government support for product development will stimulate global vaccines market growth over the coming years. Growing awareness towards preventive vaccination in pediatric and increasing adoption of therapeutic vaccines in cancer treatment will fuel industry growth.

Increasing disease prevalence in underdeveloped countries coupled with growing incidence of cancer & HIV will serve as high impact rendering factor for the Vaccines Market growth. High cost and inadequate reimbursement coverage for vaccines will hamper industry expansion. Moreover, stringent government regulations for product approval will further restrain business growth. Pediatric segment will witness 9.1% CAGR during the forecast timeframe owing to CDC recommendation for immunization schedule to protect children and infants before getting exposed to potentially life-threatening diseases.

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Currently, it has been observed most of the pharmaceutical giants have been striving to come up with innovative vaccination products for influenza, which seems to be raging across the globe in seasonal intervals. Recently, one of the prominent UK-based suppliers of seasonal influenza vaccines, and a renowned giant in vaccines industry, Seqirus invested USD 52.5 million in its plant at Liverpool to increase the production capacity of Fluad, its adjuvanted seasonal flu vaccine. The company also plans to recruit more workforce to increase the production rate, so that the vaccines can be shipped in readiness in case of a pandemic. Seqirus’s investment is likely to encourage regional vaccines industry players to follow suit, which would subsequently help stimulate UK vaccines market trends over the coming years.

Regulatory organizations have been making continuous efforts to generate awareness among the global populace regarding the advantages of vaccination. For instance, the U.S. Centers for Disease Control and Prevention (CDC) has inked guidelines to encourage people to take seasonal influenza vaccines for controlling and preventing the virus from spreading, especially in young children, the elderly, and pregnant women. In fact, CDC reports that post the implementation of vaccination programs, the percentage of people afflicted with influenza had decreased significantly across the U.S. As per estimates, U.S. covered a major share of the regional vaccines market revenue in 2016, pertaining to the numerous efforts undertaken by regulatory bodies.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• AstraZeneca
• Abbott
• Bristol-Myers Squibb
• Merck
• Sanofi Pasteur
• Pfizer
• GlaxoSmithKline Pharma GmbH
• Emergent BioSolutions
• Astellas Pharma
• CSL Behring
• NOVAVAX INC

Considering the myriad advantages that vaccines provide to improve an individual’s immunity system, researchers have been striving to conduct eminent study programs involving the methodology of combining vaccines with other cancer treatment methods such as radiations, chemotherapy, and Herceptin to enhance patient survival rate. Recently for instance, APAC vaccines market had witnessed an Australian company developing vaccines for breast and gastric cancer, the trials of which have depicted an affirmative result. The approval of this vaccine is likely to prove highly beneficial for cancer afflicted patients, and subsequently, is expected to provide a positive impetus to the regional vaccines market.

Some of the companies operating in industry are Abbott, AstraZeneca, Astellas Pharma, Bristol-Myers Squibb, CSL, Emergent BioSolutions, GlaxoSmithKline, Johnson & Johnson, Merck, Novartis, Novavax, Pfizer and Sanofi Pasteur. New product launches and expansion of existing product portfolio will mainly drive the business growth. Major industry participants will endeavor to fortify their market position by adopting these strategies.

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Market, By Age Group (USD Million)

Pediatric
Adult

Market, By Technology (USD Million)

Attenuated
Toxoid
Conjugate
Inactivated & subunit
Recombinant

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This release was published on openPR.