U.S. Vaccine Market growing due to Importance of Asset Management in Industry

Over the past few years, the vaccine industry has established itself as one of the fastest-growing healthcare market segments. Vaccination has been of great help to public health. It has saved lives of millions of children, adults and animals, and provided them a better and healthier life. According to the Centers for Disease Control and Prevention (CDC), diseases such as diphtheria, smallpox and polio have been completely eradicated while diseases such as measles, rubella and tetanus have been better controlled in the U.S. Thus, vaccination is considered as the most effective form of all preventive measures.

The U.S. vaccine market is expected to expand at a CAGR of 4.3% during the forecast period between 2014 and 2020. The market has been broadly segmented into human and animal vaccines. The U.S. human vaccine market is expected to grow under the influence of factors such as low risk of serious and fatal side effects with vaccination, growing awareness regarding vaccination among common people as well as healthcare providers, federal government’s strict recommendations for immunization against certain diseases and growing demand for adult vaccines. On the other hand, the growth of the U.S. animal vaccine market is expected to be driven by the rising incidence of zoonotic diseases in animals and high risk of their transfer to humans, increasing pet ownership, and rising consumption of poultry meat, among other factors. Recently approved animal vaccines such as Prime Pac PRRS+ and Once PMH IN are also expected to drive the market growth in terms of revenue, primarily due to high prices associated with them.

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On the other hand, stringent regulatory approval process and high cost associated with new vaccine discovery and development is expected to affect market growth during the forecast period. Transportation, storage and handling of vaccines are the major challenges faced by manufacturers and distributors. For more than 90% of all vaccines, manufacturers have to rely on cold chain logistics to prevent loss of potency and efficacy by exposure to temperatures outside the recommended range which results in high maintenance costs. Therefore, the high cost associated with transportation, storage and handling of vaccines is also expected to hamper growth of the vaccine market.

The human vaccine market is further segmented into pediatric and adult vaccines, based on vaccine type. However, on the basis of different antigens, the U.S. human vaccine market has been categorized into hepatitis, influenza, meningococcal, pneumococcal, human papillomavirus (HPV), combination vaccines and others. The combination vaccines market represented the largest segment of the human vaccine market in terms of revenue in 2013. The combination vaccines segment includes combination vaccines for diphtheria and tetanus along with other antigens such as pertussis, polio, hepatitis B, and Haemophilus influenza type B. The pneumococcal vaccines market is projected to emerge as the largest segment in 2020, primarily due to the expected strong increase in the sales of Prevnar 13 during the forecast period. The meningococcal vaccine market has been identified as the fastest growing segment during the forecast period. This is primarily due to the anticipated launch of pipeline products during the forecast period.

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The animal vaccines market in the U.S. has been broadly classified as companion and livestock vaccines. The companion animal vaccines segment has been further categorized into canine and feline, while the livestock vaccines segment has been divided into porcine, bovine, ovine, poultry and equine sub-segments. The canine vaccines segment accounted for a slightly larger share (in terms of revenue) than the feline vaccines segment in 2013, due to higher average cost associated with canine vaccination. Of livestock vaccines, the bovine vaccine market accounted for the largest share in terms of revenue in 2013, followed by porcine. However, the poultry vaccines segment has been projected to grow at the highest CAGR during the forecast period from 2014 to 2020.

The U.S. human vaccine market is dominated by players such as GlaxoSmithKline plc, Sanofi, Pfizer, Ltd., Merck & Co., Inc., and Novartis International AG. These players compete with each other by introducing new and innovative vaccines. Zoetis, Inc., Merck & Co., Inc. (Merck Animal Health), Sanofi (Merial, animal health division of Sanofi) and Boehringer Ingelheim are the major companies in the U.S. animal vaccine market. Of these, Zoetis, Inc. was the largest stake holder in 2013, followed by Merck & Co., Inc. and Sanofi.

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