Adult Vaccines Is Expected To Augment The Market Growth Over The Forecast Period 2017-2025
he global Adult Vaccines Market, by Vaccine (Influenza, Tetanus/Diphtheria/Pertussis, Varicella, Human Papillomavirus, Zoster, Measles/mumps/Rubella, Pneumococcal, Hepatitis, and Others), by Vaccine Type (Monovalent and Multivalent), by Technology (Live Attenuated Vaccines, Inactivated Viral or Bacterial Vaccines, Toxoid Vaccines, Recombinant Vaccines, and Conjugate Vaccines), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 12,806.4 million in 2016 and is projected to exhibit a CAGR of 7.1% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. Adult vaccines market is expected to gain significant traction over the forecast period, owing to increasing number of initiatives being undertaken by government authorities for protection against viral and bacterial infections and diseases, to reduce the global healthcare burden. For instance, in 2011, the World Health Organization (WHO) and a group of partners, initiated The Global Vaccine Safety Initiative to ensure that all countries have at least a minimal capacity to ensure vaccine safety.
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Increasing prevalence of infections coupled with innovation of novel vaccines is expected to fuel market growth
Vaccines are one of the most effective therapies to safely prevent the spread of fatal infectious diseases. Increasing prevalence of infectious diseases such as flue is increasing the demand for vaccines, globally. For instance, according to the Centers of Disease Control & Prevention (CDC) 2013, around 226,000 patients are hospitalized each year due to influenza and its complications, out of which around 3000-4000 patients die due to the disease. Moreover, according to the World Health Organization 2014, around 50,000 men, women, and children suffer from infectious diseases every day. These diseases could be prevented with minimal care and appropriate vaccination. Market players are increasingly focusing on introducing new vaccines in the market to strengthen their foothold in the global market. For instance, in March 2018, GlaxoSmithKline Plc received approval from European Commission and Japanese Ministry of Health for its Shingles vaccine—Shingrix—for adults. Moreover, in March 2018, Pfizer, Inc. introduced TRUMENBA in Canada, which is the only vaccine indicated for adolescents and young adults aged 18-25 years, for prevention of meningitis B, which is a rare, however, a potentially devastating disease.
Browse 34 Market Data Tables and 38 Figures spread through 150 Pages and in-depth TOC on “Adult Vaccines Market”- by Vaccine (Influenza, Tetanus/Diphtheria/Pertussis, Varicella, Human Papillomavirus, Zoster, Measles/mumps/Rubella, Pneumococcal, Hepatitis, and Others), by Vaccine Type (Monovalent and Multivalent), by Technology (Live Attenuated Vaccines, Inactivated Viral or Bacterial Vaccines, Toxoid Vaccines, Recombinant Vaccines, and Conjugate Vaccines), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2025
The market for adult vaccines is expected to witness significant growth, as increasing number of market players are focused on developing multi-purpose and blockbuster drugs. For instance, in August 2017, Dallas County Health & Human Services (DCHHS) introduced a flu vaccine that serves to be an all-in-one shot vaccine for various flu strains including H1N1, specifically indicated for adults. In January 2018, India-based pharmaceutical company, Bharat Biotech, in collaboration with Typhoid Vaccine Acceleration Consortium (TVAC), received pre-qualification for its typhoid conjugate vaccine—Typbar TCV—from the World Health Organization. Moreover, companies are focusing on geographic expansion to generate more revenue. For instance, in July 2017, Pfizer, Inc. introduced its Meningitis B jab TRUMENBA in the U.K. for adults aged 18-25 years.
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Key Takeaways of Adult Vaccines Market:
The global adult vaccines market is expected to exhibit a CAGR of 1% over the forecast period, owing to increasing awareness among the population regarding benefits of vaccination and increasing number of government initiatives to reduce medical burden on the country.
Among vaccines, the influenza segment holds a dominant position, owing to increasing prevalence of flu and governments undertaking initiatives to vaccinate people to prevent the epidemic spread of the disease.
Among Vaccine type, the multivalent segment holds a dominant position, owing to its relatively higher efficacy and ability to increase innate immunity of individuals than monovalent
Among regions, North America is expected to hold the dominant market for adult vaccines, owing to rampant introduction of innovative solutions coupled with favorable reimbursement policies and government investments in R&D in the region
Key players operating in the global adult vaccines market include GlaxoSmithKline Plc, Merck & Co., Sanofi Pasteur, Pfizer, Inc., CSL Limited, Johnson & Johnson, Serum Institute of India, Medimmune, and AstraZeneca Plc.
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