LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global human vaccines market is set to post a CAGR of close to 12% by 2020.
This research report titled ‘Global Human Vaccines Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The report study indicates that the introduction of new products is fueling the growth of the market. Moreover, the significant expansion of the current product offerings is also expected to boost the market growth. Due to the increasing prevalence rates of various infectious diseases such as diphtheria, influenza, hepatitis, pneumococcal diseases, and meningococcal diseases, there has been a notable increase in the use of vaccines across the globe.
In terms of geography, the Americas dominated the global human vaccines market in 2015, accounting for about 45% of the total revenue. The US was the largest revenue contributor to this region in the same year, capturing a significant portion of the global market. The Americas will continue to dominate the human vaccines market during the forecast period because of the increase in the prevalence of infectious diseases and cancers. In addition, increase in strategic alliances with expected entry of novel vaccines, is also expected to propel the growth of the market in this region.
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The report segments the global human vaccines market into two different type of human vaccines:
- Therapeutic human vaccines market
- Preventable human vaccines market
Global therapeutic human vaccines market
According to the report, the global therapeutic human vaccines market is expected to grow at a fast rate during the forecast period, posting a CAGR of nearly 25%. The market is niche with a huge potential to address different kinds of infections and disorders. The global therapeutic human vaccines market is expected to grow rapidly in all regions. Technological advances in the areas of immunotherapy are revolutionizing the development of therapeutic vaccines and many products that are currently under pipeline are expected to reach the market during the forecast period.
“The therapeutic human vaccines market has a large number of therapeutic vaccine candidates under clinical trials for addressing various ailments such as cancer, metabolic disorders, chronic illnesses, and infectious diseases. Thus, a wide range of applications of therapeutic vaccines is expected to aid in the growth of the therapeutic human vaccines market over the next four years,” says senior industry analyst Imran Mushtaq, from Technavio’s vaccines research team.
Global preventable human vaccines market
The global preventable human vaccines market is expected to reach over USD 55 billion by 2020, growing at a CAGR of close to 11%. Factors such as an increase in the inclusion of pediatric vaccinations in the national immunization programs (NIPs) of many countries are expected to propel the market. Public-private initiatives and the focus on emerging countries are also factors that are expected to drive the growth of the market. Top vendors such as GlaxoSmithKline, Merck, Novartis, Pfizer, and Sanofi dominate this market.
Browse Related Reports:
- Global Preventable Vaccines Market 2015-2019
- Global Cancer Vaccines Market 2015-2019
- Global Travel Vaccines Market 2015-2019
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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