Preventable Vaccines Market – An insight on the important factors and trends influencing the market
The use of preventable vaccines is to avoid the occurrence of an infectious disease, which is preventable by the use of vaccines. The occurrence of death due to a vaccine-preventable disease is termed as vaccine-preventable death, the reason being failure to attain vaccines in time, lack of access to vaccines and financial limitations. The WHO has estimated that in the year 2008, around 1.5 million deaths in the children aged less than 5 years were due to vaccine-preventable diseases. This accounted for about 17% of the global mortality of children aged less than 5 years. Further, it also stated that diphtheria, hepatitis B, pertussis, influenza, meningitis, measles, mumps, poliomyelitis, yellow fever and neonatal tetanus are some of the most frequent and serious vaccine-preventable diseases.
With the introduction of preventable vaccines, many nations are taking up immunization programs with the aim of eradicating the above mentioned indications. For instance, with extensive immunization programs small pox has been successfully eradicated globally. A technical review in the U.S. highlights other indications for eradication such as measles, mumps, hepatitis B and rubella. Progression of biomedical research, technological advances, government-supported immunization programs and increasing incidences of the vaccine-preventable diseases are some of the factors that boost the demand of the development of effective preventable vaccines. The preventable vaccines market holds immense growth potential due to its rising demand and wide application areas.
Preventable vaccines market can be segmented on the basis on type of vaccines, indications and geography. The market by vaccine type includes live attenuated vaccines, killed vaccines, genetically modified vaccines and others. The indications segment comprises of various vaccine preventable diseases such as hepatitis B, poliomyelitis, measles, neonatal tetanus, diphtheria, pertussis and others. Geographical segmentation involves the study of preventable vaccines market in four major regions namely North America, Europe, Asia-Pacific and Rest of the World (RoW).
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Some of the major factors driving the growth of this market includes high demand for vaccination across the globe, rigorous research and development initiatives for the manufacturing of preventable vaccines, favorable government funding towards these vaccines and rising prevalence of vaccine preventable diseases. However, surfacing regional players and misuse of the government resources may challenge the growth of the market. The major players competing in the preventable vaccines market are Emergent Biosciences, Inc., Novartis AG, GlaxoSmithKline plc, Merck & Co, Inc., Pfizer, Inc. and Sanofi.
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