Transparency Market Research includes new market research report "Vaccine Market" to its huge collection of research reports.
Albany, NY -- (SBWIRE) -- 10/17/2014 -- Research data from a leading market firm in the U.S. states that the global vaccine market is growing at a CAGR greater than 8% and has now attained a market value of $25 billion. However, the vaccine market in the U.S. was worth $12.8 billion in 2012, and will continue to rise and grow and reach $17.4 billion by 2018, at a 5.25% CAGR in the forecast period.
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The estimated market value is significantly higher than the growth rate seen throughout the pharmaceuticals industry, which is expected to be average 4% annually.
Global Vaccine Market Overview
The vaccine market is considered to be different from any other traditional commodity market. Earlier the vaccine market was relatively small and still in its nascent stage. However, presently, the global vaccine market constitutes around 2% to 3% of the global pharmaceutical industry. In the coming years a stellar growth rate of 10% to 15% per year is expected to be seen in the vaccine market.
Vaccine is an unmatched solution of efficient pharmaceuticals and healthcare industry. Vaccines are found at low costs offering extended protection for disorders and illnesses. The vaccine market is widely accepted as an indispensable segment of the healthcare industry. In the recent years, enhanced technological advancements and research and development in the vaccine market has led to the invention and production of effective drugs and better-quality vaccines to treat various disorders and illnesses. Today, vaccine technology is undergoing a revolutionary change in the healthcare industry, taking advantage of the importance of the immune system and its capacity to offer protective cell-based responsive vaccines to cure foreign antigens.
According to WHO, the global vaccine market has more than 120 new products currently in the development pipeline, of which 60 vaccine products hold utmost significance to many other developing nations.
Several Growth Factors of the Vaccine Market
Vaccines have the greatest impacts on public health. They are provided to humans to protect them from various diseases. Vaccines; however, play an even greater role in protecting worldwide populations from exposure to harmful and infectious diseases. The global vaccine market is driven by a few favorable factors such as, growing public acceptance to use vaccine in times of illnesses, favorable demographics, and vaccine product innovation in the global healthcare industry. New vaccine products and other trends are well-covered in the global vaccine market and the market for the same is expected to witness strong growth through 2016. The successful launch of many recent products and high growth rates across the global vaccine market has kept interest and growth rates high in the global vaccine market. Also specialized vaccines that target under-served age segments have stirred immense growth in the emerging nations.
The U.S. vaccine market will continue to witness high growth due to rising incidences of infectious diseases in animals and humans, as well as due to advancements in the biotechnology sector.
Adult Vaccines Market
According to several U.S. pediatricians, over half of the population in the U.S. has major parental concerns about child immunization and other general vaccines. Due to such reasons, the rate of government compulsion for child immunization has increased, in turn fueling the growth of human vaccine in the pediatric vaccine segment in the U.S. The U.S. human vaccine market takes pride in holding the highest market share in the global vaccine market.
Due to rising awareness for viral diseases and human papillomavirus (HPV), the adolescent vaccine market in the U.S. is predicted to grow astutely over the next six years.
Livestock vaccine segment is another leading segment that is fueling growth into the global vaccine market. Owing to increased health-awareness towards protecting viral and infectious diseases in animals and cattle, vaccination against disorders and illnesses have accounted for 58.1% of the overall shares in 2012.
The feline and canine vaccine segments accounted for around 95.1% shares in 2011, whereas, the bovine vaccine sector is believed to be the largest revenue generating segment in the U.S.
Among all the geographies in the world, by far, the U.S. vaccine market is considered to be the largest market segment in the history of vaccine technology and development.
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