Global Human Papillomavirus (HPV) Vaccine Market Expected to Surpass USD 3.9 Billion by 2027
According to a recently published report by Research Nester on “Global Human Papillomavirus (HPV) Vaccine Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global human papillomavirus (HPV) vaccine market in terms of market segmentation by valence, by indication, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
High unmet needs in the market are expected to create vast opportunities for the new entrants and existing players in the market. Various improvements in research and development have led to the development of the HPV vaccines market during the forecast period. On account of these factors, the market is anticipated to record a CAGR of around 5.3% during the forecast period i.e. 2019-2027. The market was valued at USD 2.4 Billion in 2018 and is expected to surpass USD 3.9 Billion by 2027.
The market is segmented by valence into quadrivalent & non-avalent, bivalent and others out of which, the quadrivalent & bivalent segment is anticipated to have leading shares on account of increasing incidents of cervical cancer and launch of new HPV vaccines.
The market is further segmented by indication into cervical cancer, anal cancer, penile cancer, vulvar cancer, oropharyngeal cancer, genital warts and others out of which, the cervical cancer segment is anticipated to have leading shares on account of increasing number of cases of this type of cancer in women and the segment is anticipated to maintain its dominance during the forecast period.
On the basis of distribution channel, the market is segmented by physicians, distributors, government entities, public& private alliances and others out of which, public & private alliances segment is anticipated to have leading shares on account of many such alliances such as GAVI, focusing on vaccinating people in developing countries.
North America is anticipated to have leading shares on account of increase in recommendations from various associations for immunization practices in U.S. Asia Pacific region is expected to have significant growth during the forecast period. GlaxoSmithKline Plc. has received an approval for Cervarix which is a product of China FDA and is projected to drive the growth of the market in the region. Initiatives taken by Government to reduce infectious diseases caused by HPV is likely to improve the market share of Middle East & Africa region.
Increasing Initiatives and Cancer Cases to Encourage the Market Growth
According to the Cancer Council Australia, most of the schools in Australia have participated in the National Papillomavirus Vaccination Program. There is an increase in the number of people suffering from various types of cancers worldwide. These factors are expected to drive the growth of the market.
The price of the HPV vaccine is very high and is subject to variations. This factor remains a concern for countries to budget necessary funds for long term. Moreover, people may not be able to afford such high priced vaccines which may lead to severe effects of the diseases caused by HPV. This is expected to hinder the growth of the HPV vaccine market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global human papillomavirus (HPV) vaccine market which includes company profiling of Glaxo Smith Kline Plc., Merck & Co. Inc., Sanofi, Johnson & Johnson, AstraZeneca, Serum Institute of India Pvt. Ltd.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global human papillomavirus (HPV) vaccine market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.