Global Preventive Vaccine Market Overview:
The Global Preventive Vaccine Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape etc. According to the report the Global Preventive Vaccine Market is estimated to be $30.24 USD billion and predicted to rise to $55 USD billion with a CAGR of 12.74%. The market is segmented by Vaccine Type (Live, Attenuated vaccines, Inactivated vaccines, Toxoid vaccines, Subunit vaccines, Conjugate vaccines, DNA vaccines and Recombinant vector vaccines), by End User (Pediatric and Adult Vaccines). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The vaccine market which weighs in about 5% of total global pharmaceuticals market experienced a boom in the past decade, especially the preventive vaccines segment due to rising incidences of Cancer & HIV. WHO estimates it grew from meagre $5 USD Billion in 2000 to $25 USD Billion in 2013 and expected to reach $60 USD Billion by 2020.
The market is highly concentrated on both from supply and demand side as in at present there are almost 120 products in pipelines of various MNCs, set to hit the market in next few years. Assessing and understanding pricing and procurement is also a complex issue due to the distinct features of the market. It is highly regulated and mostly dependent on public purchasers and donor policies.
Rising incidences of prevalent diseases, technological advancements that decrease new vaccine development time, Rise in investments by the major market players, increase in fundingâ€™s from government, initiatives by NGOâ€™s are some of the factors that are driving the preventive vaccines market growth. However, massive capital expenditures and stringent regulatory policies, high cost associated with treatment are few factors that are acting as constraints, inhibiting the growth of the market.
North America accounts for the large portion of revenue in the therapeutic vaccine market. Owing to the presence of advanced and active R&D establishments in the region, North America continues to dominate the preventive vaccines market.
Some of the key players influencing the global preventive vaccine market are GlaxoSmithKline, plc., Merck and Company, Bavarian Nordic, CSL Limited, Emergent BioSolutions Inc., Novartis AG, Johnson and Johnson, MedImmune, LLC, Pfizer, Inc., and Sanofi Pasteur.
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