Albany, NY -- (SBWIRE) -- 07/12/2017 -- Owing to the presence of a few, but extremely large players operating in the market, the competitive rivalry among the players is intense, states Transparency Market Research (TMR) in a research report. The global market for human vaccine is characterized by extensive efforts on research and development and technological advancements. Various strategies are being implemented by manufacturers in this industry in order to gain and withstand competitive benefit. The players in this market strive to bring about product differentiation and expand customer base through mergers and acquisitions. The global human vaccine market is ruled by leading global players such as GlaxoSmithKline plc., Sanofi SA, Pfizer, Inc., and Merck & Co. Inc. These players jointly accounted for over 70% of the market in terms of revenue in 2015. Pfizer led this list closely trailed by Merck & Co. Inc., Sanofi SA, and GlaxoSmithKline plc. in the exact order.

According to a TMR researcher, "The global market for human vaccine was worth US$28.3 bn in 2015 and is projected to rise to a valuation of US$72.5 bn by the end of 2024. It is expected to register a CAGR of 11.2% between 2016 and 2024."

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Conjugate Vaccines to Gain Prominence over Time

The conjugate vaccines segment held the leading share of 38% in the global human vaccines market in 2015. This is due to presence of blockbuster drug Prevnar under this category. High product revenue of Prevnar and snowballing preference for vaccination among children is expected to boost the demand for this vaccine in the coming years. Conjugate vaccines are made of polysaccharides or oligosaccharides antigens amalgamating with a protein carrier. Protein, along with the saccharide chain provokes strong resistant response in children. Conjugate vaccines are mostly employed for the following vaccination: pneumococcal, meningococcal, flu, and others. Prevnar and Menactra are the noticeable brands in this segment.

Region-wise, North America surfaced as the most attractive region for the human vaccine market to grow. The prime driver of this market in North America is the outbreak of diseases in the region.

The human vaccine market in the U.S. is growing exponentially owing to rising awareness among consumers regarding the important of vaccination and less side effects related to it. At present, Europe is the second most lucrative market with leading players investing vigorously in expanding the market in this region. Asia Pacific is expected to emerge as the leading region in terms of growth in the global human vaccine market over the forecast period.

Fatal Side Effects and Low Risk Factor to Bode Well for Market

Like other drugs, vaccines are also connected to certain side effects. However, maximum of the times, side effects related to vaccination are mild and moderate such as soreness, swelling, or redness at the site of injection and fever, rash, and achiness. The risk of serious and fatal side effects with vaccination is extremely low. For instance, stern allergic reaction with Anthrax vaccine is less than once for every 100,000 doses. A number of health care organizations including the CDC, the FDA, the American Medical Association (AMA), and the American Academy of Pediatrics (AAP) also recommend that vaccines are safe. Tremendously low risk of serious and deadly side effects associated with vaccines is anticipated to drive the market for vaccines during the forecast period. However, stringent regulatory pathway and high cost in association with new vaccine are likely to hamper the growth of the market in the coming years.

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