U.S. Vaccine Market - Opportunities and Threats
Published On : May 13, 2014 | Category : Pharmaceutical
Vaccine market - the once low-profit ventured industry is currently perceived with great interest among other healthcare industry sectors and sub-circles in the U.S. This is due to the high demand in vaccine with respect to evolving and spreading infectious diseases. This market is also highly in demand due to an improved understanding for a well-balanced life and improved immune system amongst individuals across the United States. It has led to new opportunities for manufacturing novel preventive and therapeutic vaccines in the market.
Vaccine Production Market Segment in U.S.
Advanced research and development in the vaccine field is leading to the production of effective and improved vaccines to cure various illnesses. Vaccines manufactured to cure different illnesses are considered amongst the major revenue earners in the healthcare and pharmaceutical industry. However, the recent years has shown substantial revenue growth in the U.S. vaccine production market and this is further poised for growing enormity of this industry.
U.S. will continue to be the leaders in the global vaccine market due to rising occurrence of infectious and contagious diseases in animals and humans. It is also a leader in the advancements taking place in the biotechnology sector across the country.
Why did U.S. have vaccine shortages in the past?
According to the past surveys and popular market research reports, vaccines were limited in the recommended childhood immunization sector in U.S. Some of the vaccines shortages were widespread, while others were restricted to a particular area. The key reasons for such shortages were due to companies abandoning the vaccine market, insufficient stockpiles, manufacturing or production problems, and more. However, some shortages were merely specific to one particular manufacturer too.
Such vaccine shortages brought about provisional changes in recommendations for their use. Also, during this phase, a major chunk of summary information and recommendations for temporary changes in the childhood immunization schedule were furnished.
Nevertheless, this morbid phase in the U.S. has now elapsed due to the rise of the Pediatric vaccine segment in the U.S. human vaccine market. This sector enjoys high share, as well as high growth rate for child immunization due to government’s mandatory norms and regulations.
Overall Market Size and Share of the U.S. Vaccine Market
According to industry best research firms and market reports, the U.S. Vaccine Market estimates to be worth USD 12.8 billion in 2012, and is further expected to reach USD 17.4 billion by 2018, growing at a CAGR of 5.3% from 2012 to 2018.
Apart from human vaccine market, the livestock vaccine market is another leading sect across U.S., and this market segment accounted for total 58.1%
shares in 2012. The Bovine vaccine sector in the United States is considered to be the largest revenue generating sector today. In 2011, the feline vaccine and canine vaccine also accounted for approximately 95.1% shares in the entire U.S. companion animal vaccine market.
Vaccine Manufacturers in U.S
The year 2011 was marked by many significant leading producers of human vaccine for the U.S. market. These included Merck, Sanofi-Aventis, Pfizer, GlaxoSmithKline, Sanofi Pasteur and Novartis. Similarly, for the animal vaccine market, the leading producers of animal vaccine for the U.S. market includes Merial (Sanofi-Aventis), Pfizer Animal Health, Novartis Animal Health, and Intervet/Schering-Plough (Merck).
Future Growth of U.S. Vaccine Market
Backed by technological advancements and strong support from governments and other active organizations such as GAVI and WHO, the U.S. market for vaccines is expected to grow further in the forecast period from 2012 to 2018. This market is witnessing an increasing trend towards development of personalized vaccines and novel vaccines that cures infectious diseases, allergies, and cancers. According to leading market research analysts this industry will undergo continuous improvements in delivery methodologies, vaccine design, and manufacturing in large-scale processes. Due to successful launch of new vaccine products in the market, the overall industry is expected to exhibit improved performance in the coming years.
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