Latin America Preventive Vaccine market by Vaccine Type (Live, Attenuated vaccines, Inactivated vaccines, Toxoid vaccines, Subunit vaccines, Conjugate vaccines, DNA vaccines and Recombinant vector vaccines), by End User (Paediatric and Adult Vaccines) and by Region
The Latin America Preventive Vaccine market is estimated at $ 3.63 Billion in 2015 and is poised to reach $ 6.74 billion by 2020 with a compound annual growth rate of 13.17 %. While the preventive vaccine accounts for only 5 % of the global pharmaceuticals market, there has been a substantial growth in the recent years as a result of rising incidences of HIV cases and cancer.
World Health Organization growth estimations indicate the market may increase at a tremendous rate with the introduction of new therapeutic preventive, and adult vaccines.
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Vaccination is a process in which the immune system of individual is stimulated by injecting the vaccine.
The vaccine Market is relatively small market compared to the pharmaceutical market and is growing at a fast rate. Many multinational companies are investing heavily in vaccine market and there are currently close to 120 new vaccines in the pipeline set to hit the market across the globe in the next few years.
The vaccine market is a highly regulated market and is mostly dependent on the public purchasers and donor policies.
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Increased funding for the vaccine development from the government, huge investments in the R&D department of the preventive vaccines by the major firms in the vaccine industry, technological advancements making it easier for new innovations, initiatives by NGO’s. However, there are few restrains that the market has to overcome like high capital expenditures, stringent policies by the government, high cost of treatment.
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- By Vaccine Type
- By End User
- Adult Vaccines
Many of the major vaccine companies have been investing heavily in research and developments resulting in new innovations in the markets. The major firms in the preventive vaccine market are Johnson and Johnson, GlaxoSmithKline, plc, Merck and Company, Bavarian Nordic, Novartis AG, MedImmune, CSL Limited, Emergent BioSolutions Inc., LLC, Pfizer, Inc., and Sanofi Pasteur.
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