Vaccine Market to Reach $84.44 Billion by 2022 at a 11.36% CAGR - New Report by MarketsandMarkets
(PRWEB) August 20, 2013 -- The "Vaccine Market - By Technology & Types, Trend Analysis By Various Classes – Live / Attenuated, Subunit, Toxoid, Conjugate, DNA, Recombinant Vector, Synthetic, Dentritic Vaccines And By Indications – Infectious Diseases, Cancer, Allergy, Diabetes, Cardiovascular Disease With Market Landscape Analysis - Global Forecasts To 2022 " analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and the Rest of the World.
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This report studies the global vaccine market, with forecast to 2022.
Within the healthcare industry, the vaccine market was initially considered a low-profit venture but is currently perceived with renewed interest among industry circles due to its high demand with respect to emerging infectious diseases. Furthermore, an improved understanding of the immune system has paved new opportunities for developing novel preventive and therapeutic vaccines.
This market research report evaluates the global vaccine market by technology class, types, end users, disease indication, and geography. Furthermore, the technology class is divided into eight segments, namely, live/attenuated, toxoid, conjugate, sub-unit, recombinant vector, DNA, synthetic, and dentritic vaccines. Of the above mentioned segments, sub-unit vaccine is the largest revenue segment; however, synthetic vaccines, recombinant vector vaccines, and DNA vaccines will be the fastest-growing segments.
The global vaccine market was valued at $27 billion in the year 2012. At the end of 2013, the market is expected to be $32.05 billion and is poised to reach approximately $84 billion by 2022, growing at a CAGR of 11.36% from 2013 to 2022.
Therapeutic vaccines, specifically targeting cancers and allergies, will offer vast opportunities for new players entering this market. The launch of the first FDA-approved therapeutic vaccine, Provenge by Dendreon (U.S.), for treating prostate cancer has acknowledged the potential of vaccines in therapeutics. This scenario is expected to further revolutionize the industry towards massive growth in the next 5 to 10 years.
The global market for vaccines is expected to grow, backed by technological advancements with respect to the development of novel vaccines towards emerging infectious diseases, cancers, and allergies. The market will experience continuous improvements in vaccine design, delivery methodologies, and manufacturing in large-scale process. The market is witnessing a trend towards development of personalized vaccines. Additionally, the demand for safe and cost-effective drugs for the treatment of many cancers and HIV infection, which could be addressed by therapeutic vaccines, will remarkably fuel market growth.
North America is the largest hub for the vaccine market, accounting for the largest share, followed by Europe and Asia. North America and Europe are expected to grow at a steady pace. However, the Asia-Pacific market, particularly India and China, is expected to witness a boost in demand and is poised to register maximum growth over the next 10 years, owing to the increase in aging population and prevalence of various infectious diseases.
The key players in this market are Novartis (Switzerland), Glaxo Smithkline (U.K.), Merck (U.S.), Sanofi (France), Pfizer (U.S.), Antigen Express, Inc. (U.S.), Aduro Biotech (U.S.), Genticel (France), Biondvax (Israel), Immune Targeting Systems (U.K.), Prokarium (U.K.), Immunobiology Ltd. (U.K.), Liquidia Technologies (U.S.), Alphavax (U.S.), and Bavarian Nordic (Denmark).
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