Global Vaccine Market Exceeds $20 Billion: Kalorama
NEW YORK, August 12, 2010—Vaccines continue to be the success story for pharmaceutical companies, with the world market for preventative vaccines totaling $22.1 billion in 2009, up from $19 billion in 2008, according to healthcare market research publisher Kalorama Information. Kalorama’s new report, Vaccines 2010: World Market Analysis, Key Players, and Critical Trends in a Fast-Changing Industry, notes that the worldwide vaccine market is predicted to increase at a compound annual rate of 9.7% during the next five years, as new product introductions continue and the use of current products expands further.
“We’ve forecasted a high growth rate for vaccines over the past few years and market events have matched our predictions,” said Bruce Carlson, publisher of Kalorama Information. “The vaccine business is not without its risks, but for some companies, vaccines were the only bright spot in their portfolio in 2009. It’s not a surprise therefore that development is heavy in this sector, and that will contribute to growth over the next five years.”
Vaccines are commonly segmented into two target markets, adult and pediatric. According to Kalorama Information, the pediatric vaccine market is larger, accounting for more than half of the total market. Pediatric vaccines are also growing at a faster rate than adult vaccines and this is expected to continue over the next five years. Pneumococcal and “combination” DTaP vaccines are driving growth in the pediatric sector, while influenza and hepatitis vaccine products are driving sales in the adult segment of the market. Future growth in adult vaccines will be driven by increased acceptance and new products.
The worldwide vaccine market is dominated by five major competitors: Merck & Co, GlaxoSmithKline, Sanofi Pasteur, Pfizer, and Novartis. These companies have made earning a greater share of the vaccine market part of their marketing and research strategies. GlaxoSmithKline is in the lead with nearly a quarter of the world market in 2009, largely due to its influenza products Fluvarix and Hiberix, according to Kalorama.
More information is available from Kalorama Information’s report, Vaccines 2010: World Market Analysis, Key Players, and Critical Trends in a Fast-Changing Industry, including market forecasts, company profiles, and trends in the industry. The report can be found at: http://www.kaloramainformation.com/redirect.asp?progid=79452&productid=2684026.
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Posted: August 2010