23rd May 2017, Florida-The global vaccines market size worth USD 61.6 billion by 2024, according to a new research study published by Ameri Research. The market is expected to witness strong demand due to increasing number of immunization programs, high investment in research & development, growing awareness about vaccination and access to healthcare facilities in the emerging and developing regions.
The growing prevalence of chronic diseases, therise in healthcare expenditure and constant support from stakeholders such as government agencies, WHO (World Health Organization), UNICEF (The United Nations Children’s Fund) in improving access to vaccination are some of the factors positively reinforcing the market growth. For instance, the number of people vaccinated for tuberculosis, polio, measles, influenza, hepatitis and other diseases is growing every year. The U.S. has one of the largest immunization programs with a vaccination rate of 84.2% for diphtheria, tetanus, 93.3% for polio, and 91.5% for measles, mumps and rubella (MMR).
Moreover, in 2014, the Ebola outbreak in western Africa led to severe loss of human lives. It was declared as a Public Health Emergency of International Concern under the WHO International Health Regulations (2005). The WHO estimates that nearly 14,124 Ebola cases were reported in Sierra Leone, 3,811 cases in Guinea, and 10,675 cases in Liberia. Moreover, in 2014-2015 approximately 20,000 people were vaccinated by products manufactured by Johnson & Johnson, GlaxoSmithKline, and Merck. To ensure thecreation of an Ebola drug stockpile, the GAVI Alliance and Merck Sharp & Dohme Corporation have entered into a USD 5 million advance purchase agreement.
The bargaining power of buyers and suppliers variesin different regions, due to the healthcare expenditure, access to medicines and government support. The high-income regions usually invest in procuring the technologically advanced products, however the emerging nations are inclined toward the use of generic products due to affordability and budget constraints. To drive the vaccination programs, agencies such as UNICEF, PAHO procure vaccines in large quantities for supplying in more than 100 countries.
Click the link below to view the report description: – https://www.ameriresearch.com/product/vaccines-market-outlook-2024
Key findings from the study: –
- The inactivated vaccines segment dominated the market in 2016. However, strong demand for DNA vaccines is anticipated to drive growth over the forecast period.
- In 2016, pneumococcal disease segment accounted for the largest revenue share and is expected to extend its dominance over the forecast period.
- North America was the leading region with nearly over 41% share. The high share of this region can be attributed due to the high healthcare expenditure, technological advancements and a large number of immunization programs. However, Asia Pacific is expected to register the highest CAGR of 9.7% over the forecast period.
- Some of the key market participants include Novartis AG, AstraZeneca Plc, Sanofi Pasteur, Inc., Takeda Pharmaceuticals Company Ltd., Emergent BioSolutions, Inc., Valeant Pharmaceuticals International, Inc.,GlaxoSmithKline, plc., Astellas Pharma Inc., and others.
Ameri Research has segmented the Global Vaccines Market by product type, disease type, end-use,and region:
Vaccines Market by Product(Revenue, Million, 2014 – 2024)
- Live Attenuated Vaccines
- Inactivated Vaccines
- Subunit Vaccines
- Toxoid Vaccines
- Conjugate Vaccines
- DNA Vaccines
Vaccines Market by Disease Type (Revenue, USD Million, 2014 – 2024)
Vaccines Market by End-Use(Revenue, USD Million, 2014 – 2024)
Vaccines Market Regional Outlook (Revenue, USD Million, 20124- 2024)
- North America
- Asia Pacific
Middle East and Africa
- South Africa
- Saudi Arabia
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