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Human Papillomavirus (HPV) Vaccine Market Research Report 2024 - By Growth, Recent Trends, Key Players And Forecast To 2033
Human Papillomavirus (HPV) Vaccine Market Research Report
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According to The Business Research Company's, The human papillomavirus (hpv) vaccine market size has grown rapidly in recent years. It will grow from $5.12 billion in 2023 to $5.87 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to initial vaccine development, medical guidelines and recommendations, government-sponsored vaccination campaigns, educational initiatives on hpv risks, improvement in vaccine accessibility..
The human papillomavirus (hpv) vaccine market size is expected to see rapid growth in the next few years. It will grow to $9.61 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%. The growth in the forecast period can be attributed to health equity and vaccine equity efforts, inclusion in travel health recommendations, targeted vaccination strategies, pharmaceutical industry investments, telemedicine and remote vaccination.. Major trends in the forecast period include innovation in adjuvant technology, role of hpv vaccination in lgbtq+ health, focus on immunocompromised populations, integration with cancer screening programs, community-based education programs..
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Market Drivers and Trends:
The increased prevalence of HPV-related diseases is expected to propel the growth of the human papillomavirus (HPV) vaccine market going forward. HPV-related diseases are viral infections that frequently result in warts on the skin or mucous membranes. The HPV vaccination specifically targets the HPV subtypes. The HPV vaccine controls the risk of HPV infection and recurrent diseases. For Instance, in February 2023, according to the National Cancer Institute, a US-based Department of Health and Human Services, around 13,960 American women are anticipated to have an aggressive cervical cancer diagnosis, and 4,310 fatalities from this illness are expected in 2023 in the US. Further, 7.7 per 100,000 women per year new cases of cervical cancer were diagnosed, with an annual death rate of 2.2 per 100,000 females. Therefore, the increased prevalence of HPV-related diseases is driving the growth of the human papillomavirus (HPV) vaccine market.
Product innovations are a key trend gaining popularity in the human papillomavirus (HPV) vaccine market. Companies operating in the human papillomavirus (HPV) vaccine market are adopting new technologies to sustain their position in the market. For Instance, In January 2023, the Serum Institute of India, an India-based biotechnology and biopharmaceuticals company, launched CERVAVAC, the first quadrivalent Human Papillomavirus vaccine (qHPV) created entirely by Indian scientists. The Government of India intends to immunize girls between 9 and 14 against cervical cancer, making it an affordable and cost-effective vaccine.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Johnson & Johnson Co, Merck & Co Inc., Novartis AG, Sanofi SA, GlaxoSmithKline Plc, AstraZeneca Pharma Ltd., Astellas Pharma Inc., CSL Limited, UCB SA, Serum Institute of India Pvt Ltd., Beijing Wantai Biological Pharmacy Enterprise Co Ltd., Emergent BioSolutions Inc., Bharat Biotech International Ltd., Walvax Biotechnology Co Ltd., Bavarian Nordic AS, Biofarma Co, Vaccitech Plc, Inovio Pharmaceuticals Inc., R-Pharm LLC, PathoVax LLC
Human Papillomavirus (HPV) Vaccine Market 2024 Key Insights:
• The human papillomavirus (hpv) vaccine market size is expected to see rapid growth in the next few years. It will grow to $9.61 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%.
• Rising Prevalence Of HPV-Related Diseases Sparks Surge In Human Papillomavirus (HPV) Vaccine Market Growth
• Transforming The Landscape Of Hpv Vaccines With The Launch Of Cervavac By Serum Institute Of India
• North America was the largest region in the human papillomavirus (HPV) vaccine market in 2023
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