Global Vaccine Market to exceed USD 59.20 Billion In 2020
Deerfield Beach, FL -- (SBWIRE) -- 07/14/2017 -- Zion Market Research has published a new report titled "Vaccine Market by Technology (Inactivated, Subunit, Conjugate, Live Attenuated, Toxoid, and Dendritic Cell Synthetic), Type (Therapeutic, Preventive), Indication (Allergy, Infectious Disease, Tumors and Others) for Infants, Early Aged, and Post Aged: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020" According to the report, global demand for vaccine was valued at over USD 32.2 billion in 2014, is expected to reach above USD 59.2 billion in 2020 and is anticipated to grow at a CAGR of slightly above 11.0% between 2015 and 2020.
Vaccination is the process of injecting, or oral vaccine ingestion to stimulate the immune system of individual. Vaccine is made up of inactive, partially killed or dead microbes, to activate the immune system against the particular microbe and produce antibodies against it. Vaccination influences immune system to attack on the microbe. The antigen stimulates the immune system to identify threat, destroy and memorize, so that if the same microbe is occurred later it can be recognized and destroyed.
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Introduction of new vaccines for various diseases is escalating growth of the vaccine market. Also rise in frequency of diverse infectious diseases such as swine flu, influenza, Ebola, hepatitis, tuberculosis, diphtheria, meningococcal diseases, and pneumococcal diseases worldwide has increased the use of vaccines. Besides, the notable rise demand of the existing vaccines is predicted to enhance the growth of market. Government initiative to generate awareness among people for vaccination is also supporting the market growth. However, high maintenance, strict laws of regulatory and huge expense for development of new vaccines could pose challenge for the vaccine market. Government funding for R&D of new vaccines for diseases like HIV and cancer offers novel opportunity for vaccine market.
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Technological advancement in use of vaccine includes inactivated, subunit, conjugate, live attenuated, toxoid, dendritic cell and synthetic. Live attenuated is the recommended technology and accepted worldwide followed by inactivated technology. Two types of vaccine are therapeutic vaccine and preventive vaccine. Preventive vaccine was the leading type due to escalating awareness among people for prevention from various infections.
End users for the ingestion or injection of vaccine are infants, early aged and post aged group. Infants and early aged populace are vaccinated on large basis due to government initiative for protecting children from various diseases. The indication segment for vaccine includes allergy, infectious disease, and tumors among others. Infectious disease was one of the major indications due to increase in number of infectious and contiguous diseases globally.
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North America emerged as prominent regional market owing to rising government support for R&D of vaccines, growing company investments for vaccine research, and high occurrence of different diseases in this region. The vaccine market is segment into Europe, Asia-Pacific, Latin America, and Middle East & Africa, further divergence of region on the country level, which includes U.S., Germany, UK, France, China, Japan and India.
Some of the prominent participants in vaccine market include Pfizer, CSL Limited, GlaxoSmithKline, plc, MedImmune LLC, Novartis AG, Sanofi Pasteur, Merck and Company, Johnson and Johnson and Emergent BioSolutions Inc.
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