Human vaccines market: conjugate vaccines segment to dominate market

According to Transparency Market Research’s latest report on the global human vaccine market for the historical period 2017–2018 and forecast period 2019–2027, extremely low risk of serious and fatal side effects, education and awareness through various governmental and non-profit organizations, growing preference for outsourcing of vaccine manufacturing are projected to drive the global human vaccine market during the forecast period

According to the report, the global human vaccine market was valued at US$ 37.8 Bn in 2018 and is anticipated to expand at a CAGR of 8.7% from 2019 to 2027.

Extremely Low Risk of Serious and Fatal Side Effects: Key Drivers
Like other drugs, vaccines are also associated with certain side effects. However, most of the times, side effects from vaccination are mild and moderate such as soreness, swelling, or redness at the site of injection and fever, rash, and achiness.

The risk of serious and fatal side effects with vaccination is extremely low. For instance, serious allergic reaction with Anthrax vaccine is less than once for every 100,000 doses. A number of health care organizations including the CDC, the FDA, the American Medical Association , and the American Academy of Pediatrics also recommend that vaccines are safe.

Extremely low risk of serious and fatal side effects associated with vaccines drive the market for vaccines during the forecast period.

Education and Awareness through Various Governmental and Non-Profit Organizations Boost Market Growth
The vaccine market is also growing due to increasing awareness and education about the benefits associated with vaccination programs. Every year in the U.S., August is celebrated as the National Immunization Awareness Month.

During this month, families, friends, and colleagues are reminded to stay up-to-date on vaccine shots. People also share strategies to increase immunization rates among their communities.

The National Association of School Nurses, a non-profit specialty nursing organization, along with Sanofi Pasteur is creating awareness to help prevent children and teens from getting infected by meningococcal disease, through a public health initiative ‘Voices of Meningitis’. Increasing awareness among people as a result of the aforementioned initiatives is likely to contribute to market growth during the forecast period from 2019 to 2027.

Strict Regulatory Pathway and High Cost Associated With New Vaccine Discovery and Development to Hamper Market
Regulatory requirements for developing a new vaccine are quite challenging, and a company engaged in the discovery and development of a new vaccine can take up to 12 years to 15 years to commercialize it.

The average cost to discover and develop a new vaccine is estimated to be US$ 1,000 Mn to US$ 2,000 Mn.

Therefore, stringent regulatory approval process and high cost associated with new vaccine discovery and development have been identified as major restraints of the market during the forecast period from 2019 to 2027.

Global Human vaccine Market: Competitive Landscape

This report profiles major players in the global human vaccine market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments

The global human vaccine market is highly fragmented, with the presence of a number of international as well as regional players

Leading players operating in the global human vaccine market are

• AstraZeneca plc
• Bavarian Nordic
• Bharat Biotech
• CSL Limited, Emergent BioSolutions, Inc.
• GlaxoSmithKline plc
• Johnson & Johnson
• Merck & Co, Inc.
• Mymetics
• Novartis AG
• Pfizer, Inc.
• Sanofi S.A.
• Shenzhen Kangtai Biological Products Co., Ltd.
• Takeda Pharmaceutical Company Limited.

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