U.S. Vaccine Market Experiencing Substantial Growth
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.
Transparency Market Research has published a report on the U.S. vaccine market for the 2014-2020 period. According to the report, this market will expand at a CAGR of 4.3% between 2014 and 2020. This report on the U.S. vaccine market presents an insightful and in-depth overview of the current and future growth potential of the human and animal vaccine markets. The title of this report is “U.S. Vaccine Market - Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020” and is available for sale on the company’s website.
A vaccine is a biological preparation that delivers active acquired immunity against a particular disease. It is administered either through needle injections, orally, or by aerosol. Vaccination involves the administration of a killed or weakened organism into the body that develops immunity in the body against that organism. Vaccines cause immunization; there are also some diseases that provide immunization after recovery from the disease.
According to the Centers for Disease Control and Prevention (CDC), vaccination programs across the U.S. have been successful in the eradication of lethal diseases such as polio, smallpox, and diphtheria, while diseases such as tetanus, rubella, and measles have been largely controlled. Vaccination administered as a preventive measure has helped save the lives of millions of individuals in the U.S.
In the U.S., strict regulations imposed by the federal government, which mandate immunization against certain diseases is driving the U.S. vaccines market. Meanwhile, the rising incidence of zoonotic diseases among animals and the high risk of transmitting its associated infection to humans is propelling the growth of the animal vaccines market. Moreover, widespread pet ownership in the country has significantly contributed to the growth of the animal vaccines market in the U.S. Factors such as the rising consumption of poultry and meat products and recent approvals of Prime Pac PRRS+ and Once PMH IN have also bolstered the growth of the U.S. animal vaccine market.
On the flip side, the stringent regulatory framework that governs the approval process of vaccines in the U.S. impedes the growth of this market to a certain extent. Moreover, the high cost involved in the research and development of new vaccines will also hamper the growth of this market during the forecast period.
The report segments the U.S. vaccine market into human vaccines and animal vaccine to analyze this market during the forecast period. By vaccine type, the U.S. human vaccine market is divided into adult and pediatric vaccines. By antigen, this market is divided into hepatitis, meningococcal, human papillomavirus (HPV), influenza, pneumococcal, combination vaccines, and others.
The U.S. market for animal vaccines is segmented into companion animal and livestock vaccines. The companion animal vaccines segment is further sub-segmented into canine and feline. In 2013, canine vaccines held a slightly larger share than feline vaccines due to the higher average cost of canine vaccines.
Some of the leading players in the U.S. vaccines market are Novartis International AG, Merck & Co. Inc., Sanofi, GlaxoSmithKline plc, and Merck & Co.
The U.S. vaccine market is segmented as follows:
U.S. Human Vaccine Market, by Type
U.S. Human Vaccine Market, by Antigen
U.S. Animal Vaccine Market, by Animal Type
Mr. Sudip S
Transparency Market Research
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