The global vaccine market has been established as one of the fastest growing segments of the medical and healthcare industry. The fact that vaccination has saved millions of lives including adults, children, and animals, providing them a better and healthier life, is the prime reason behind the growth of this market.
The global vaccine market is broadly analyzed on the basis of product types and antigens. Based on types of products, the global vaccine market is classified into pediatrics and adult vaccine markets, while by antigen, the market is categorized into Hepatitis A and B, human papillomavirus, meningococcal, influenza, pneumococcal, combination vaccines, and others.
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This research report on the global vaccine market provides detailed assessment of the previous, existing as well as future performance of the global vaccine markets. Furthermore, the study elaborates upon the competitive landscape of the global market for vaccines by offering the business outlook and future prospects of the major participants of the market.
Overview of the global vaccine market
Once considered as a commodity market, the global market for vaccines is now among the fastest developing markets for the pharma industry. Witnessing massive growth in recent times and outpacing many of the conventional businesses operational in the pharmaceutical market, the vaccine industry has captured almost 3% of the overall pharmaceutical industry. Continual product innovation and positive response from diverse demographics are fueling market growth to great extents.
As vaccination has a low risk of serious side effects, the uptake of vaccines has been rising with increasing awareness among patients, medical and healthcare professional, and the general populace. Apart from this, stringent recommendations for immunization from many governments across the globe against various diseases and the rise in the demand for adult vaccines are also adding to the growth of this market.
On the other hand, the strict procedure for regulatory approvals and the high cost associated with research to discover a new vaccine and its development is likely to influence market growth in a negative manner during the period from 2011 to 2016.
Additionally, shipping, storing, and handling of vaccines are some of the major challenges the producers and distributors functioning in the global vaccine market face on a regular basis. For over 90% of all vaccines, producers have to depend on cold chain logistics to avoid accidental exposure to temperatures above the recommended range in order to avoid loss of potency and efficiency of the vaccine as well as to manage the high maintenance costs. These factors are also projected to limit the growth of the global vaccine market.
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Companies mentioned in the research report
The global market for vaccines is highly concentrated and the top four market players, namely Pfizer, Novartis, Sanofi, and GlaxoSmithKline, collectively control 74% of the global market. Other prominent players in the global vaccine market are Emergent Biosolutions, Inc. Boehringer Ingelheim, Merck & Co., Inc., Medimmune LLC., Bavarian Nordic, CSL Ltd., and Zoetis, Inc.