Vaccines Market share to grow at 9% CAGR from 2017 to 2024

The research report “Global Vaccines Market Size By Age Group (Pediatric, Adult), By Technology (Attenuated, Toxoid, Conjugate, Inactivated & Subunit, Recombinant,), By Disease (Cancer, Hepatitis, Pneumococcal Disease, DTP, Dengue, Influenza, Human Papilloma Virus, Meningococcal Disease, Polio, Rotavirus), Regional Outlook (U.S., Canada, Germany, UK, Spain, Russia, Italy, France, China, Japan, India, Indonesia, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Qatar, Egypt), Technology Development, Competitive Landscape & Forecast, 2017 – 2024” by Global Market Insights, Inc. says, in 2016, vaccines market size stood at a revenue of USD 32 billion.

The global vaccines market has recently witnessed one of its key participants, Novartis NVS announcing its decision to acquire the France based radiopharmaceutical company, Advanced Accelerator Applications (AAAP). This purchase apparently, is expected to strengthen Novartis’ product portfolio in the cancer vertical, by adding AAAP’s RadioLigand Therapy. Novartis reportedly has been investing heavily to develop vaccines for several kinds of cancers, given the severity of this terminal disease and the efficacy of the right vaccine to prevent the same. In this regard, to reduce the massive death rates across the globe due to nearly untreatable disorders, the World Health Organization (WHO) had also organized a Global Vaccine Action Plan in 2012, with the intention of preventing millions of deaths by 2020, by providing access to vaccines for major ailments. An initiative of this level, in conjunction with other initiatives organized by regional governments is anticipated to considerably spur vaccines industry share.

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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.

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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.

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.

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Notable behemoths across the vaccines market, namely, Merck & Co., AstraZeneca, Pfizer, Novartis, Bristol-Myers Squibb, CSL, Johnson & Johnson, Abbott, GlaxoSmithKline, Astellas Pharma, Sanofi Pasteur, Novavax, and Emergent BioSolutions, have been depicting considerable interest in R&D investments in order to brainstorm innovative products for disease prevention. With their efforts bearing fruit, vaccines market is expected to demonstrate a massive rise in its revenue graph over 2017-2024, additionally driven by commendable government initiatives to promote vaccination programs.

Browse Related Reports:

Preventive and Therapeutic Vaccine Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, Malaysia, Thailand, Indonesia, Australia, Brazil, Saudi Arabia, UAE, South Africa), Application Growth Potential, Competitive Market Growth & Forecast, 2017 – 2024

https://www.gminsights.com/industry-analysis/preventive-and-therapeutic-vaccine-market

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