The global conjugate vaccine market, by Product Type (Monovalent Conjugate Vaccines and Multivalent Conjugate Vaccine), by Disease Indication (Pneumococcal, Influenza, Meningococcal, and Typhoid), by Pathogen Type ( Bacterial and Viral), by Patient Type ( Pediatric and Adults), and by region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 12,977.2 million in 2018, and is projected to exhibit a CAGR of 9.6%, during the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.
Rising government support to surge immunization is significantly contributing to growth of the conjugate vaccine market. For instance, rising incidences of zoonotic and infectious diseases in humans lead to increase research & developments for the innovation of new and effective recombinant vaccines for the prevention of diseases. Various governments have taken initiatives to increase awareness regarding vaccination to prevent diseases in the community.
Manufacturing companies have also started some beneficial programs to provide vaccination free of cost to poor people, which is expected to create a highly conducive environment for growth of the global conjugate vaccines market in the near future. For instance, according to the 2014, National Center for Biotechnology Information (NCBI) article, a global introduction of pneumococcal conjugate vaccine (PCV) will help prevent 5.4 – 7.7 million deaths among children by 2030 and will help in achieving goal-4 of the ‘Millennium Development Goals’. Considering this, the WHO has recommended the introduction of hemophilic influenzae type b (Hib) and PCV7 in the national immunization schedules of all countries.
browse 38 Market Data Tables and 33 Figures spread through 186 Pages and in-depth TOC on "Global Conjugate Vaccine Market, by Product Types (Monovalent Conjugate Vaccines and Multivalent Conjugate Vaccine), by Disease Indication (Pneumococcal, Influenza, Meningococcal, and Typhoid), by Pathogen Type (Bacterial and Viral), by Patient Type (Pediatric and Adults), and by region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026"
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Increasing initiatives by various countries to introduce conjugate vaccines in collaboration with funding programs is expected to create a hike in the overall revenue of the global conjugate vaccines market during the forecast period. For instance, in 2015, two countries (Armenia and Azerbaijan) requested to switch from PCV10 to PCV13. Thus, Global Alliance for Vaccines and Immunisation (GAVI) reviewed and approved requests and both countries switched PCV product during 2016. The lowest advance market commitment (AMC) price per dose for GAVI eligible countries is currently between US$ 3.30 (PCV13) to US$ 3.05 (PCV10). However, the price per dose for non-Gavi middle-income countries (MICs) that procure PCV through UNICEF can range from US$ 7.00 to US$ 26.87 per dose, depending on manufacturer’s differential pricing policies.
Moreover, increasing government funding and support is expected to show lucrative growth for the global conjugate vaccine market. In August 2016, The Sabin Vaccine Institute received an award of US$ 468,328 from the U.S. Centers for Disease Control and Prevention (CDC) to support initiatives to improve sustainable immunization financing. The project, conducted in partnership with the Pan American Health Organization (PAHO), will support sustainable financing, planning, and decision-making for immunization programs in low- and middle-income countries. The program was launched in the Democratic Republic of Congo, Senegal, and Kenya in 2016.
Key Takeaways of the Global Conjugate Vaccine Market:
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