Human Vaccines Market is Booming Worldwide Scrutinized in New Research
Vaccination has been promoted as a vital public health intervention across the globe for decades. According to the World Health Organization (WHO), vaccination has reduced the global burden of infectious disease to a great extent.
Vaccines are considered to offer more advantages in comparison with other modes of drug administration. In the past few years, the global human vaccines market has been significantly benefiting from rising awareness about vaccines and their crucial advantages. This has also translated into tremendous growth of the market. In the near future, demand for human vaccines is predicted to continue to see a rise as they pose a lower risk of serious side effects compared to other drug administration methods.
Although conjugate vaccines are making a mark in the global human vaccines market, combination vaccines are foretold to produce rewarding prospects in the foreseeable future. Promotion of vaccines as an important public health intervention around the world could set the tone for valuable growth in the market. Use of vaccines to reduce to the spread of infectious diseases globally is envisioned to create a whole lot of opportunities in the coming years
Prevnar, manufactured by Pfizer, Inc., is a conjugate vaccine, which generated a significant revenue of US$6.2 bn globally in 2015 alone. This is a key factor contributing to the dominance of conjugates in the human vaccine market. However, the growing preference for commercial brands available in the market is likely to drive the combination vaccines segment.
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According to the research study, the growth of the global human vaccines market could gain impetus on the back of rising count of awareness programs arranged by non-profit and private organizations and also governments.
In a recent year, four companies, viz. Merck & Co. Inc., GlaxoSmithKline plc, Sanofi, and Pfizer Inc. accounted for a substantial share of the market. Although the companies may look to outperform each other, this scenario is expected to hold its shape in the coming years. The companies could take to tactical partnerships and product differentiation to secure a leading position in the market.