- Government organizations and not-for-profit organizations raising awareness among consumers about immunization programs in pediatrics expand investment scope in human vaccines market, North America held the major share in 2018
- Market to reach worth of US$ 37,807.5 Mn in 2018, pharma companies lean on outsourcing of HPAPI manufacturing to meet rise in demand for vaccines
ALBANY, N.Y., Dec. 17, 2020 /PRNewswire/ -- Growing population-wide awareness about the benefits of immunization programs in the prevention and control of a number of infectious and viral diseases is a key trend in the human vaccines market. The uptake of vaccines in the healthcare infrastructure has led to substantial reduction of healthcare burden of numerous diseases.
Adoption of routine childhood immunization in numerous economies has spurred strides in the human vaccines market. Vaccine makers have been successful in unveiling vaccines with remarkably low risk and high efficacy rates.
Clocking a CAGR of 8.7% from 2019 to 2027, the valuation of the human vaccines market is expected to climb from US$ 37.8 Bn in 2018 to ~US$ 81.34 Mn by the end of 2027.
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Healthcare organizations such as the FDA and the American Academy of Pediatrics (AAP) have vouched for the safety of several of the currently licensed human vaccines, cementing the growth potential of the market.
Key Findings of Human Vaccines Market Report
- Of the various vaccine types in the human vaccine market, conjugate vaccines held the major share in 2018
- Meningococcal vaccines are a highly lucrative segment
- Geographically, North America held the major share in 2018
- Wide adoption of vaccination programs has shaped the outlook of the aforementioned regional market
- Europe was the second leading regional market
- The presence of several national and international players renders the competitive dynamic increasingly of fragmented nature
Explore 183 pages of top-notch research, incisive insights, and detailed country-level projections on Human Vaccines Market (Vaccine Type - Conjugate, Recombinant, Inactivated, Combination, and Attenuated; Product - Pneumococcal, Influenza, Hepatitis, HPV, Meningococcal, Rotavirus, Measles, Typhoid, and Combination; Age Group - Pediatrics, Adolescents, Adults, and Geriatrics; Distribution Channel - Hospital Pharmacies and Drugstores) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027 at https://www.transparencymarketresearch.com/report-toc/16127
Human Vaccines Market: Key Driving Factors and Promising Avenues
- The drive for the market stems from the growing role of vaccine in reducing the burden of human diseases around the world.
- Rising numbers of childhood immunization programs in developing and developed nations have expanded the market outlook of human vaccines market.
- Over the decades, there has been an unprecedented growth in understanding of human immune response to immunization. This has helped spur the revenue prospects of vaccine developers including numerous globally prominent pharma companies.
- Strides made in technologies pertaining to vaccinology such as systems biology and bioinformatics are unlocking new avenues in vaccine development.
- The human vaccines market has witnessed new strides on the back of extensive efforts made by not-for-profit organizations on raising the awareness about the benefits of routine immunization for managing infectious and viral diseases.
- Education about the benefits of vaccination programs in pediatric population has boosted the uptake in the human vaccine market.
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Human Vaccines Market: Key Impediments
Despite the remarkable strides the human vaccine market, the evolution has met with some notable snags. The high-profile product development failures has cost vaccine developers millions due to the failure in meeting the stringent regulatory requirements. Further, since vaccine development is a capital-intensive activities spread over several years, even big pharma companies with high financial might shy away from making funding.
Post licensing, the commercializing is also a costly affair, impeding the rapid expansion of the human vaccine market. Ethical concerns for the conduct of clinical trials have also dampened the market to an extent. The growing number of vaccine trials in the U.S. has cemented the revenue potential.
Nevertheless, the growing health burden of infectious diseases, recently COVID-19, has spurred vaccine makers to augment their stakes in the human vaccines market.
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Human Vaccines Market: Regional Landscape
North America held the major share in the global human vaccines market in 2018. The regional market is expected to make notable strides due to proliferating demand for vaccines among children and young adults. The focus on raising awareness about immunization programs has spurred the regional market. Europe has been a promising regional market.
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