The opportunity in the global human vaccines market is expected to reach US$72.5 bn by 2024 from US$28.3 bn in 2015, as the market is expected to exhibit a CAGR of 11.2% during the forecast period of 2016 and 2024. The prolific progress of the global market will be due to relentless promotion if vaccination by private and public organizations. The growing awareness amongst the global population about the benefits of timely vaccinations has also had a positive impact on the global market. The World Health Organization (WHO) states that vaccination has drastically brought down the instances of infectious diseases in the recent past. Development of affordable vaccinations that have minimal side-effects has also fueled the growth of the overall market in recent years.
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Q. What are winning strategies being adopted by the leading players in the global human vaccines market?
A. The leading players operating in the global human vaccines are Sanofi, GlaxoSmithKline plc., Merck & Co, Inc., and Pfizer, Inc. The collective share of these companies stood at 70% in 2015. Analysts state that to remain dominant, these players are expected to focus on mergers and acquisitions, collaborations, and expansion to emerging economies. The players are also looking at setting up local production facilities to avoid extra expenditure on logistics. Additionally, companies are expected increase their investments in research and development activities to introduce innovative products to the huge population base with significant unmet medical needs.
Q. How have healthcare organizations helped the global market to grow?
A. The growth of the global human vaccines is directly proportional to the exceptionally low risk of human vaccines to cause any fatal side effects. Besides the minor side effects such as swelling, soreness redness, rash, or fever vaccines do not have grave negative impacts on the human body. The assured safety of vaccines by trustworthy organizations such as the American Medical Association (AMA), Centers for Disease Control and Prevention (CDC), the American Academy of Pediatrics (AAP), and the US FDA has augmented the demand for human vaccines.
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Q. What is global human vaccines market looking forward to in the near future?
A. The rise of epidemics such as Zika has given the global market both, a lucrative opportunity as well as a new challenge. Thus, leading players are focusing on developing vaccinations for Zika virus that has had a life-altering impact on unborn babies. The U.S. Food and Drug Administration is working on a new mouse model to explore the potential of Zika virus vaccines and related therapeutics. Known as the neonatal mouse model uses C57BL/6 mouse strain, which is susceptible to the Zika. The research is aimed at understanding how these mice recover, the impact of the virus on the mice, and the potential of investigation vaccines and therapeutics that are currently being tested.
Thus, focused and result-oriented investments in understanding the global medical needs and devising solutions for the huge pool of unmet needs are going to be the two important strategies of the global market.