Europe Preventive Vaccine market by Vaccine Type (Live, Attenuated vaccines, Inactivated vaccines, Toxoid vaccines, Subunit vaccines
The Europe Preventive Vaccine market is estimated at $7.86 Billion in 2015 and is poised to reach $ 14.03 billion by 2020 with a compound annual growth rate of 12.28 %. Recently there has been a substantial growth in the vaccine market with the rising incidences of cancer & HIV cases.
World Health Organization growth estimations indicate the market may increase in value to almost 54.5 billion 2020, with the arrival of new therapeutic preventive, and adult vaccines.
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The vaccine Market is quite different from any other product market, having distinct features with increased complexity of assessing, understanding prices and procurement.
Although it is a small market compared to the pharmaceutical market, we cannot dismiss the fact that it is growing at a fast rate. There are currently around 120 new vaccines in the pipeline of various multinational companies across the world and are set to hit the market in the coming years.
While the vaccine market is rather concentrated on both supply and demand sides, it is mostly dependent on public purchasers and donor policies.
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Introduction of new vaccines for every other diseases is aiding the growth of vaccine market. Also, rise in the frequency of occurrence of infectious diseases like tuberculosis, hepatitis, diphtheria and pneumococcal diseases across the globe has increased the usage of vaccines.
Invested from governments for vaccine development, increase in funding by the major market players, rising occurrence of disease, technological advancements decreasing the new vaccine development time drastically, initiatives by NGO’s are some of the factors that are propelling the growth of vaccines However, there are few factors restraining the growth of vaccine market like, huge capital expenditures and stringent regulatory policies by the governments, massive cost associated with treatment.
- By Vaccine Type
- Live, Attenuated Vaccines
- Inactivted Vaccines
- Toxoid Vaccines
- Subunit vaccines
- Conjugate vaccines
- DNA vaccines
- Recombinant vector vaccines
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Historically many of the multinational vaccine companies have been investing huge sums in research and development resulting in new innovations in the market. The major players in the preventive vaccine market are GlaxoSmithKline, plc, Merck and Company, Bavarian Nordic, CSL Limited, Emergent BioSolutions Inc., Novartis AG, Johnson and Johnson, MedImmune, LLC, Pfizer, Inc., and Sanofi Pasteur.
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