Overview of the travel vaccines market
Technavio’s market research analysts have predicted that the global travel vaccines market is likely to witness fast-paced growth and will post a CAGR of close to 7% during the forecast period. The introduction of additional age group coverage is one of the primary factors driving this market’s growth. While approving a vaccine, the regulatory authorities also specify the age group approved for receiving the vaccine. This age group is specified on the vaccine label and is based on the efficacy and safety results obtained from clinical trials conducted using individuals from these age groups. Label expansion to include additional age groups approved for immunization requires additional regulatory approval. These approvals are based on the additional clinical trials conducted using individuals from additional age groups. The increase in approvals for additional age group coverage will increase the patient population for the vaccine, thereby propelling this market’s growth in the coming years.
One of the latest trends gaining traction in the market is the introduction of combination vaccines for travelers. Combination vaccines for immunizing travelers target multiple causative agents, which helps in the prevention of infectious diseases such as meningococcal disease, Japanese encephalitis, and hepatitis A infection. Moreover, combination vaccines eliminate the need for administering separate vaccines. For instance, pediatric hexavalent combination vaccine V419 is currently under review by the US FDA and MenABCWY polysaccharide conjugated vaccine is currently under Phase II stage of development for the prevention of meningococcal infections.
Outlook of the global pneumococcal vaccine market
In terms of volume, the global market for pneumococcal vaccines will grow at a CAGR of over 8% by 2020. The high demand for vaccines with a broad serotype coverage is a critical factor impelling this market’s growth prospects over the next few years. Recently, there has been an increase in pneumococcal diseases because of causative serotype. This serotype shift has created the need for vaccines with broader coverage as the available vaccines are not effective against all serotypes. The seven serotype (4, 6B, 14, 19F, 18C, 23F, 9V) contained in PCV 7 were among the most common causes of invasive pneumococcal disease (IPD) in children aged less than five years. As a result, the demand for newer pneumococcal vaccines with a broader serotype coverage has increased significantly.
Another eminent factor fostering this market’s growth prospects is the advent of protein-based combination pneumococcal vaccines. At present, numerous new pneumococcal protein-based vaccines are undergoing clinical trial evaluations. These vaccines consist of serotype-independent subunit vaccines, which contain purified proteins and antigens that are expressed by the recombinant bacteria. These vaccines help avoid the problems of serotype replacement by directly targeting proteins that are highly preserved among many pneumococcal serotype.
Competitive landscape and key vendors
The global pneumococcal vaccine market is competitive and is primarily dominated by the vendor Pfizer. In this market, Pfizer dominates over the other vendors in terms of shares owing to its robust vaccine product, Prevnar, which generated revenues of over USD 6 billion in 2015.
Key vendors in this market are
Global market outlook of meningococcal vaccines
Technavio’s market research analyst predicts the global meningococcal vaccines market to grow at a CAGR of more than 13% by 2020. Factors such as the rising prevalence of the meningococcal disease coupled with the growing awareness about vaccination programs will be the major factors driving the prospects for growth in this market. Several international and regional organizations across the globe are taking initiatives and conducting vaccination and immunization programs, such as summits and fundraising events, to raise awareness about the disease. Rising awareness about the meningococcal disease and its treatment will result in surged consumption of meningococcal vaccines, which will, in turn, augment the growth of this market.
As per this market research and analysis, an interesting trend gaining traction in the market is the growing focus towards emerging markets. Several vaccine manufacturers are shifting their bases to developing countries to utilize the favorable business environment in these countries. The global players are targeting countries like India and China as vaccine development hubs because of the availability of skilled manpower, excellent manufacturing capabilities, and low-manufacturing costs.
Segmentation by composition and analysis of the meningococcal vaccines market
- Mono vaccines
- Combination vaccines
Mono vaccines occupy the largest share in the market, accounting for around 86% of the overall market in 2015. These vaccines provide protection against single or multiple serogroups of disease-causing organisms, such as Neisseria meningitides, which are responsible for meningococcal diseases. These vaccines are further segmented into polysaccharide and conjugate vaccines. Growing incidences of meningococcal diseases across the globe will lead to this segment’s growth during
Overview of the H1N1 vaccines market
According to the analysts at Technavio, the global H1N1 vaccines market is envisaged to show stable growth and will post a CAGR of more than 4% over the forecast period. In 2006, the WHO in collaboration with vaccines manufacturers, academic experts, public health organization, and funding agencies developed a global action plan for influenza vaccines. This program was implemented with a vision to combat the global shortage of seasonal epidemic influenza vaccines and pandemic influenza vaccines. It is a comprehensive strategy to increase the production capacity and the use of seasonal and influenza vaccines. Moreover, WHO is strengthening global surveillance systems to analyze the circulating strains of influenza virus and determine the global burden of disease. Therefore, the implementation of a comprehensive action plan for influenza vaccines is one of the primary factors anticipated to bolster this market’s growth until the end of 2020.
The emergence of a universal influenza vaccine is a significant trend spurring the growth prospects of this market in the coming years. Currently, influenza vaccines are reformulated annually to offer protection against influenza viral strains that are likely to prevail in the upcoming flu season. However, these vaccines exhibit low efficacy against pandemic viruses and viruses with an antigenic mismatch. The limited effectiveness of such vaccines led to the development of a universal influenza vaccine, which is based on the protein structure of the influenza virus and are conserved across virus subtypes. This is expected to increase the window for protection against the flu virus. Also, this universal flu shot can decrease the severity of the disease and increases viral clearance from the body. Moreover, it is expected to reduce the mortality rate of influenza infection significantly till specific vaccines directed
Market outlook of the global human vaccine market
Technavio’s market research analyst predicts the global human vaccine market to grow rapidly at a CAGR of more than 11% by 2020. This market’s steady growth rate is heavily influenced by the inclusion of several pediatric vaccines in the national immunization schedule of various countries. This helps in increasing the consumption of vaccines, which in turn fosters market growth during the predicted period.
Growing public awareness and support from both government and non-government agencies will drive the prospects for growth in this market during the forecast period. Recently, it has been observed that organizations like the WHO and the Association of American Physicians (AAP) are regularly organizing programs and camps to spread awareness about the benefits of vaccination. This increase in awareness will help to augment the vaccination coverage across the world, which in turn will result in market growth.
Segmentation by type of human vaccine and analysis of the human vaccine market
- Preventable human vaccines
- Therapeutic human vaccines
The preventable human vaccine segment currently accounted for more than 94% of the total market share and is envisaged to grow at an impressive CAGR of more than 10% during the forecast period. Factors such as the inclusion of pediatric vaccinations in the national immunization programs (NIPs) of various countries, public-private initiatives, and the growing focus on the emerging countries will propel market growth in this segment during the estimated period.
Geographical segmentation of the human vaccine market
Hepatitis is an inflammatory condition that occurs due to infection by hepatitis virus. It predominantly affects the liver and also causes damage to other body parts such as digestive system and brain. Apart from viral infections, hepatitis can also be caused by toxic substances, alcohol consumption, and autoimmune diseases. The viruses that cause hepatitis are of several types: A, B, C, D, E, and G. The most common type of hepatitis viruses are A, B, and C. Hepatitis viruses can cause either acute or chronic infections.
Technavio's analysts forecast the global hepatitis drugs market to grow at a CAGR of 17.1% over the period 2014-2019.
Covered in this report
The report includes the present scenario and the growth prospects of the global hepatitis drugs market for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of various drugs used in the treatment of hepatitis.
Technavio's report, Global Hepatitis Drugs Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the market size and forecast as well as the segmentation. The report includes a discussion of the key vendors operating in this market.
• F. Hoffmann-La Roche
• Gilead Sciences
• Johnson & Johnson
• Vertex Pharmaceuticals
Other prominent vendors
• Achillion Pharmaceuticals
• Bristol-Myers Squibb
• Dynavax Technologies
• Mitsubishi Tanabe Pharma
Key market driver
• Emergence of IFN-free therapies
• For a full, detailed list, view our report
The vaccine market has experienced robust growth over the last decade and is expected to grow to an unprecedented level in the near future.
In past decades, vaccines were considered a low-profit niche segment of the overall pharmaceutical industry, but current market dynamics for the vaccine industry are highly compelling. Advancements in medical technology, growing organizational support, and continuous efforts by many governments are attracting interest from companies looking to include vaccines in their pharmaceutical research and development portfolios.
At the moment, the most lucrative aspect of the vaccine industry is the unavailability of generics, which sets it apart from the overall pharmaceutical industry where there is intense generic competition.