U.S. Vaccine Market - Stringent Government Recommendations to Augment Demand for Vaccines in the U.S. for Humans and Animals

Over the past few years, the U.S. vaccine market has gained traction and is anticipated to be amongst the fastest-growing markets in the U.S. healthcare sector. Vaccination has been a significant public health aid and has saved lives of millions of adults, animals, and children. Various studies show that the current immunization schedules prevent about 14 million infection cases, rescues nearly 33,000 lives, and saves tens of billions of dollars in healthcare expenditure per year.

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The demand for vaccines is increasing every year, thanks to the government initiatives. According to a survey by the National Immunization Survey-Teen (NIS-Teen), from 2013 to 2014, vaccination coverage among adolescents aged 13-17 years have increased from 76.6% to 79.3% for meningococcal conjugate (MenACWY) vaccine dose and from 84.7% to 87.6% for tetanus-diphtheria-acellular pertusis (Tdap) vaccine dose.

As per a report by Transparency Market Research (TMR), the U.S. vaccine market is estimated to expand at a CAGR of 4.3% from 2014 to 2020. TMR analysts state that the consistent efforts of government and various NGOs in controlling diseases such as tetanus rubella, and measles is likely to spur the demand for vaccines.

Which factors are likely to boost the growth of the U.S. vaccine market?

The U.S. vaccine market is broadly categorized into human and animal vaccines. The human vaccine segment is anticipated to expand owing to increasing awareness regarding vaccination among healthcare providers as well as common masses. Vaccination lowers the impact of serious and fatal side effects, thereby fuelling the demand for these vaccines. Another factor boosting the growth of the U.S. human vaccine market is the strict recommendations by federal government and physicians for immunization against certain diseases.

The growing prevalence of zoonotic diseases in animals and high risk of their transfer to humans is driving the U.S. animal vaccine market. Moreover, the rising consumption of poultry meat and increasing pet ownership is anticipated to bolster demand for animal vaccines. Furthermore, rising adoption of animal vaccines such as Once PMH IN and Prime Pac PRRS+ is likely to benefit the market growth in terms of revenue because of the high prices associated with them.

What are the key challenges faced by the manufacturers in the U.S. vaccine market?

The manufacturers have to invest heavily and undergo strict regulatory approval process for the development and approval of new vaccines. Moreover, there is a high cost associated with handling, storage, and transportation of vaccines. For more than 90% of all vaccines, the vendors are highly dependent on cold chain logistics to prevent loss of efficacy and potency of vaccines. These factors are anticipated to negatively influence the growth of the U.S. vaccine market.

Another restraining factor being highlighted in the recent times is the severe reactions of vaccine on health. According to the 2014 Vaccine Adverse Event Reporting System (VAERS) by the Centers for Disease Control and Prevention, 1,244 of people were hospitalized, 416 people reported disability, 122 reported deaths, and 388 life-threatening cases were reported. This has led to the anti-vaccine movement in the U.S., which is expected to hamper the growth of the U.S. vaccine market.

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Which factor characterizes the competitive landscape of the U.S. human vaccine market?

Key players such as GlaxoSmithKline plc, Sanofi, Merck & Co. Inc., Pfizer Ltd., and Novartis International AG dominate the U.S. human vaccine market. The market is characterized by high competitive rivalry. The key players are competing with each other by introducing advanced and innovative vaccines.

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This release was published on openPR.