The human vaccines market in the Middle Eastern and African region is growing rapidly. Major factors reasoning the rise of the market include the increasing prevalence of infectious diseases such as influenza, deadly diseases such as smallpox, and measles, and tetanus and the emphasis on the prevention of these diseases.
Additionally, rapidly spreading awareness towards the healthcare and the availability of various effective vaccines are escalating the market on the furthering heights. In 2015, the human vaccines market had evaluated at USD 2.8 BN.
Acknowledging the exponential growth, the market witnesses today, Market Research Future (MRFR) in its recently published study report asserts that the Middle East and Africa Human vaccines market will reach USD 5.46 BN by 2022 with a CAGR of approximately 11.8 % during the forecast period (2016-2022).
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The MEA region offers immense potential and opportunities for the vaccine market. Factors such as the large unmet needs and the policies of national Governments and international bodies such as the World health organization (WHO) are some of the key driving factors.
Other factors such as the increased funding from philanthropy organizations such as Bill and Melinda Gates Foundation, development of new vaccines, and the inclusion of several new vaccines in the national immunization schedule of many countries are driving the market growth.
Additional factors accelerating market growth include various initiatives undertaken by the governments for vaccination against diseases and the excellent management of public awareness programs.
The rapidly spreading awareness of vaccination, the growth in the manufacturing of low-cost vaccines, and the entry of China in the vaccine market are some of the significant factors fostering the market growth.
Furthermore, the improving healthcare infrastructure, increasing demand for human vaccines, trends such as the strong research pipeline, and the evolving DNA recombinant technology used in the development of novel acting vaccines act as tailwinds that push up the market growth.
On the other hand, factors such as the eradication of vaccines for some diseases such as smallpox, side effects associated with vaccines, the variability of the efficacy of vaccines, and difficulty of producing vaccines for microbes with high mutations such as HIV are impeding the growth of the market. The low profitability in vaccine manufacturing that has reduced incentives for developing vaccines for diseases of the developing world such as tuberculosis and malaria.
The MEA Human Vaccines Market – Segmentation
The report has been segmented into seven key dynamics for the ease of understanding;
By Technology: Attenuated, Inactivated, Toxoid, Conjugate, & Subunit, and Recombinant DNA.
By Disease Indication: Pneumococcal, Influenza, Hepatitis, Rotavirus, DTP, and Polio among others.
By Type: Prophylactic and Therapeutic.
By Composition: Mono Vaccine and Combination Vaccines
By End-user: Children and Adults
By Route of Administration: Oral, Injectable and others.
By Regions: Countries in the Middle Eastern & African region
The Middle East and African Human Vaccines Market – Regional Analysis
The human vaccines market in the MEA region is emerging as one of the lucrative markets, overall. The human vaccines market in the MEA region is segmented into several countries. Among these, United Arab Emirates (UAE) accounts for the largest market for human vaccines in the entire MEA region followed by Egypt. Due to the huge unmet medical needs, the rest of the African market, especially Sub Saharan regions account for the fastest growing market.
Moreover, major factors such as the augmenting demand for effective vaccines to control the growing prevalence of viral infections. Increasing per capita health care expenditures along with the rising funds invested in R&D for the development of new vaccines are supporting the growth of the market in the region.
The MEA Human Vaccines Market – Competitive Analysis
The human vaccines market in the MEA region witnesses a moderate level of the competition. Substantial investments are being transpired by the key players into R&D to develop safe, effective, and affordable vaccines that can prevent various infections in uninfected people with the research priority giving its game-changing potential for controlling and ultimately ending the pandemics.
Some of the key players leading the MEA human vaccine market are Merck & Co. Inc., GlaxoSmithKline Plc., Pfizer, Inc., AstraZeneca Plc., Sanofi Pasteur, Inc., Bharat Biotech, Valeant Pharmaceuticals, Shenzhen Kangtai Biological Products, Emergent Biosolutions Inc., Panacea Biotec, and Astellas Pharma Inc. among others.
Industry/ Innovation/ Related News:
December 26, 2018 – Sanofi S.A.(France), a multinational pharmaceutical company and MSD (Merck & Co., Inc. – USA), one of the largest pharmaceutical companies in the world announced receiving the FDA approval for their vaccination – VAXELISTM – developed under their joint-partnership.
VAXELIS(TM) Vaccine is recommended for children below 5 yrs. for purposes such as Diphtheria & Tetanus, Inactivated Poliovirus, Haemophilus b Conjugate, and Hepatitis B (Recombinant).
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