(PharmaNewsWire.Com, July 06, 2017 ) 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.
The vaccine Market is different from other product markets. Although it is relatively small compared to the pharmaceutical market, it has a tremendous growing opportunities and is growing at a faster rate. Major players of the market have already been investing heavily in the vaccine market and as many as 120 new vaccines are in the pipeline of these companies.
The higher growth rate of the market is attributed to the drivers like, increase funding from the government for vaccine development, huge investments by the multinational companies in the R&D department of the preventive vaccines, 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.
The Middle-East & Africa Preventive Vaccines Market is segmented based on vaccine as Live, attenuated vaccines, Subunit vaccines, Inactivated vaccines, Toxoid vaccines, DNA, vaccines Conjugate vaccines and Recombinant vector vaccines. And also, based on age groups the market is categorized as Paediatric Vaccine (Pneumococcal, MMR, Varicella, Hepatitis, Poliovirus, HIB and others) and Adult vaccines (Influenza, Cervical Cancer, Hepatitis, Zoster and others). In addition, the market in Middle-East & Africa Market is analysed under major regions namely, Middle-East and Africa.
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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