(Australia-NewsWire.Com, January 05, 2018 ) The Asia-Pacific Preventive Vaccine market is valued at $4.84 Billion in 2015 and is estimated to reach $9.27 billion by the end of 2020 with a CAGR of 13.89 %. Recent increase in the demand is owed to the rising incidences of cancer & HIV cases. World Health Organization growth estimations show a huge potential for the market with the arrival of new therapeutic preventive, and adult vaccines.
The vaccine Market is quite different from any other product market, having distinct features with increased complexity of assessing, understanding prices and procurement. Although it is a small market compared to the pharmaceutical market, we cannot dismiss the fact that it is growing at a fast rate. There are currently around 120 new vaccines in the pipeline of various multinational companies across the world and are set to hit the market in the coming years. While the vaccine market is rather concentrated on both supply and demand sides, it is mostly dependent on public purchasers and donor policies.
Invested from governments for vaccine development, increase in funding by the major market players, rising occurrence of disease, technological advancements decreasing the new vaccine development time drastically, initiatives by NGOs are some of the factors that are propelling the growth of vaccines market. However, massive capital requirement and stringent regulatory policies, high costs associated with treatment are few factors crippling the growth of the market.
Market Segmentation By Vaccine Type Live, Attenuated Vaccines Inactivted Vaccines Toxoid Vaccines Subunit vaccines Conjugate vaccines DNA vaccines Recombinant vector vaccines By End User Paediatric Vaccine Pneumococcal MMR Varicella Hepatitis Poliovirus HIB Others Adult Vaccines Influenza Cervical Cancer Hepatitis Zoster Others
Multinational vaccine companies historically have conducted much of the innovation, research, and development in the field of vaccine production. They have used significant revenues and deeper expertise to fund their works. Some of the key players influencing the Asia-Pacific preventive vaccine market are GlaxoSmithKline, plc., Merck and Company, Bavarian Nordic, CSL Limited, Emergent BioSolutions Inc., Novartis AG, Johnson and Johnson, MedImmune, LLC, Pfizer, Inc., and Sanofi Pasteur.
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