10 January 2020
The global vaccine market is a steady grower, while also providing an absolutely vital medical service to billions of people around the world. This makes the vaccines market a strong candidate for investment, as long as a company understands the risks involved. This is what Visiongain specializes in. We do in-depth vaccine market research, along with many other industries, to bring you the information needed to make strong decisions.
Our reports touch on many areas of the topic; here is a brief summary of the current state of the vaccine market research.
Vaccines specifically formulated substances that improve human immunity to a variety of diseases. Each vaccine is tailored to a specific disease, usually utilizing a dead or dormant form of that disease to train the body's immune system to fight it. Currently, the primary market segmentations are for live attenuated vaccines, inactivated vaccines, and subunit/recombinant vaccines.
Vaccines Market Global Outlook
On the whole, the vaccine market shows a growth rate of approximately 6.67% and is forecasted to remain there until the mid-2020s. Of the various market segments, live attenuated vaccines (which use live, but harmless, disease matter) is by far the most dominant, accounting for the majority of vaccines in use. The growth in this segment is projected to have a CAGR of 5.44% in the near future.
Of vaccines currently on the market, one strong growth area is in vaccines for the Human Papilloma Virus. HPV is a mild sexually transmitted disease which is also linked to cervical cancer, and its vaccine being increasingly mandated by world governments.
As such, growth in the vaccine market is seen as largely government-driven. States implement initiatives mandating vaccination, causing immediate boosts to the industry. This fuels research into new vaccines, which are then introduced to the market.
Major Challenges to The Global Vaccine Market
Expansion into developing nations has been a continual challenge. Many governments are at times disinterested in public health initiatives, or else lack the resources to implement widespread vaccination. There is also a substantial lack of education among the public and some lingering distrust of vaccines themselves. These issues create uncertainty in the ability of the market to grow globally.
In addition, the production of new vaccines is extremely expensive, with long and arduous regulations that must be cleared, slowing the introduction of new products.
Visiongain has far more insights to share. Click here to browse our selection of pharmaceutical market research.
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