Human Papillomavirus Vaccine Market Outlook, Trend, Growth and Share Estimation Analysis

The human papillomavirus vaccine market was valued at approximately US$ 2.0 Bn in 2016 is anticipated to register compound annual growth rate (CAGR) of over 5.0% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled "Human Papillomavirus Vaccine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017-2025". The report suggests that rise in incidences of cervical cancer and anal cancer is anticipated to increase demand for human papillomavirus vaccine during the forecast period. Western Europe and North America are likely to account for a dominant share of the global human papillomavirus vaccine market due to the launch of new vaccines by key players in these regions. Rising burden of human papillomavirus infections in emerging economies such as China and India is likely to boost the human papillomavirus vaccine market in Asia Pacific. The market in the region is anticipated expand at a CAGR of over 9.5% from 2017 to 2025.

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Stringent Rules & Regulations to Restrain Global Market Expansion

Increasing prevalence of various cancers caused by human papillomavirus is anticipated 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 infections (STI) in the U.S. Over 60% of cancers, 70% of vulvar and vaginal cancers, and 90% of anal and cervical cancers are caused due to infection of human papillomavirus. CDC also states that about 14 million people are infected by human papillomavirus every year in the U.S. Increase in government initiatives to prevent cervical cancer caused by human papillomavirus. According to Cancer Council Australia, nearly all schools in Australia have chosen to participate in the National Human Papillomavirus Vaccination Program. More than 9 million doses of vaccines have been administered 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 high grade cervical abnormalities in Victorian girls under 18 years of age.

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Quadrivalent and Nonavalent to Lose Market Share
The global human papillomavirus vaccine market has been categorized based on valance, indication, distribution channel, and region. Based on valence, the market has been bifurcated into 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. Launch of new human papillomavirus vaccines and increase in incidences of cervical cancer are likely to propel the segment. In December 2014, Merck & Co., Inc. announced to have received an approval from the U.S. Food and Drug Administration (FDA) for Gardasil 9, a recombinant human papillomavirus 9-valent vaccine for the use in girls and young women aged between 9 and 26. The vaccine is used for the prevention of vaginal, vulvar, anal, and cervical cancers caused by human papillomavirus. The vaccine was also approved for use in boys between the ages of 9 and 15 for the prevention of precancerous lesions, anal cancer, and genital warts.

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Most Promising Indication to Invest in is Cervical Cancer

In terms of indication type, the cervical cancer segment dominated the market in 2016 and it is anticipated to continue its dominance during the forecast period. Anal cancer was the second largest segment in 2016 and is likely to continue its dominance from 2017 to 2025. In 2017, the American Society of Clinical Oncology (ASCO) stated that nearly 12,820 women will be diagnosed with cervical cancer in the U.S., and approximately 4,210 will succumb to the disease. According to Cancer Research UK, approximately 3,126 new cervical cancer cases were diagnosed in 2015. In terms of distribution channel, government entities held dominant share of the market. However, it is anticipated to lose market share during the forecast period owing to public and private alliances such as GAVI that are focused to vaccinating people in developing countries are anticipated to gain market share due to increase in prevalence of human papillomavirus infectious cancerous diseases in developing countries.

Asia Pacific to Offer Huge Incremental Opportunity and Resister High Growth

Geographically, North America accounted for the largest share of global human papillomavirus vaccine market in 2016. Increasing recommendations by various associations for immunization practices in the U.S. is attributed to increase market share of the region. Merck & Co., Inc. announced to have received recommendations from the U.S. Advisory Committee on Immunization Practices (ACIP), and CDC voted to include Gardasil 9, a recombinant human papillomavirus 9-valent vaccine to the routine recommendations for vaccination of 11 and 12 years old children. Vaccination was also recommended for females aged 13 to 26 and males aged 13 to 21 who have not been vaccinated previously or have not completed the three-dose series. The market in Asia Pacific is projected to gain share during the forecast period and is likely to be key revenue generator in the next few years. In July 2017, GlaxoSmithKline plc received approval for Cervarix, a product by China FDA. This is anticipated to drive the human papillomavirus vaccine market in the region. Government initiatives to reduce infectious diseases caused by human papillomavirus are likely to drive the market in Middle East & Africa and Latin America.

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Key Companies such as Merck & Co., Inc., and GlaxoSmithKline plc. are Likely to Continue to Lead the Global Human Papillomavirus Vaccine Market
Key players operating in the human papillomavirus vaccine market and profiled in the report 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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