Healthcare
Vaccines Market: R&D Investment by Pharmaceutical Players Driving Demand
According to the World Health Organization (WHO), viral hepatitis B and C are the prominent healthcare challenges, causing liver cancer among millions of people every year. It is estimated that around 325 million people around the globe were affected by these viruses in 2018. Increase in the number of infectious diseases and threats from emerging old and new pathogens are thriving the demand for vaccines. Vaccines play a noticeable role in controlling the spread of diseases as well as help in preventing emerging diseases growth. Thus, extensive use of inactivated vaccines is driving the growth of the global vaccines market across geographies.
The latest report of Centres for Disease Control and Prevention (CDC) states that around 71,000 hospitalizations were registered through influenza during 2017-2018. Vaccinations played a dominating role in achieving sustainable health with the help of antigenic components, which aid in strengthening one’s immune system. Prophylactic vaccines have been developed to protect against several conjugate diseases such as smallpox, rubella, diphtheria, and measles. One of the latest inventions in the medical sector is Hepatitis A vaccine which is used against chronic diseases to enhance the immune system of the patient. Thus, these factors altogether are promoting the growth of the vaccines market.
Global vaccines market stood around $33 billion to $36 billion in 2018 and expected to grow at a progressive CAGR of around 8% to 10% during the forecast period, according to a newly compiled research report from IndustryARC, titled
“Vaccines Market: By Type (Monovalent, Multivalent); By Technology (Conjugate Vaccines, Inactivated and Subunit Vaccines, Others); By Disease Indication (Pneumococcal Disease, DTP, Others); By End-User(Paediatrics, Adults) & By Geography – Forecast (2018 - 2023).”
According to the detailed analysis of a research analyst, inactivated vaccines were identified as the major product type in the vaccines market which is projected to grow with a healthy CAGR of around 8% to 9% over the forecast period 2019-2025. Due to the increasing formulations and stability attenuated by these vaccines coupled with its use in providing immune protection against pathogens, is influencing the growth of inactivated vaccines among other types in the global vaccines market. North America occupied the largest share of around 34% to 36% in the global vaccines market for the year 2018. Owing to the increasing acceptance of vaccines against viruses to increase the lifespan of humans in eminent countries such as Canada and the U.S is fuelling the growth of vaccines in this region.
Global Vaccines Market Companies: Recent Developments
- Emergent Bio Solutions, a leading manufacturer of vaccines and antibody therapeutics against infectious diseases. It has signed a treaty with PaxVax Company in 2018 to acquire marketed vaccines such as Vivoti and Vaxchora. These vaccines are licensed by the U.S Food and Drug Administration or the prevention of oral diseases and cholera. This agreement is mainly aimed to increase the company’s capital and enlarge its production base to meet the demand in the global vaccines
- In December 2018 VAXELIS vaccine was launched by Sanofi by its joint partnership with Merck Sharp and Dohme Corporation. This vaccine is useful for active immunization to prevent various diseases such as Diphtheria, tetanus toxoids, polio, hemophilia b conjugate, and pertussis. Thus, this vaccine is proliferating the growth of vaccines market in the near future.
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