ALBANY, New York, October 28, 2016 /PRNewswire/ --
The global human vaccines market is dominated by GlaxoSmithKline plc. Sanofi, Pfizer, Inc., and Merck & Co, Inc. These players collectively accounted for over 70% of the market in terms of revenue in 2015. Analysts at Transparency Market Research have identified some of the key strategies adopted by players in the Human Vaccines Market in order to gain a competitive edge over the rest. These include mergers and acquisitions, collaborations and acquisitions for market penetration, the establishment of local production sites, the expansion of product portfolios, and expansion activities in regions with high growth potential.
A focus on research and development is also a successful growth strategy, TMR finds. For instance, Pfizer, Inc. has always focused on R&D in order to improve innovation and productivity. It is presently working on various pipeline products for different therapies and innovating new capabilities that can position it for long-term leadership across the globe.
The global human vaccines market was valued at US$28.3 bn in 2015 and is estimated to reach US$72.5 bn by 2024, registering an 11.2% CAGR during the forecast period.
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Hospital Pharmacies and Drugstores Prominent Distribution Channels for Human Vaccines
By age group, pediatric vaccines accounted for a 57.5% share in the global human vaccines market in 2015. Adult vaccines, on the other hand, are expected to expand at a 13.2% CAGR from 2016 to 2024. Based on product, the pneumococcal segment accounted for the majority share in in 2015, with the hepatitis segment exhibiting strong growth during the forecast period.
On basis of vaccine type, the conjugate vaccines segment accounted for the majority share in the global human vaccines market in 2015. On the other hand, the combination vaccines segment is expected to expand at an outstanding CAGR from 2016 to 2024. By distribution channel, the hospital pharmacies segment led the global human vaccines market. However, the drugstores segment is projected to expand at a considerable pace through 2024.
Geographically, North America dominates the global human vaccines market and is estimated to reach a value of US$28.0 bn by 2024. Asia Pacific is the most promising market for human vaccines and is expected to expand at a high CAGR of 12.5% during the forecast period.Editor's Details
Last updated on: 30/10/2016
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