SEATTLE, April 05, 2018 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global disease control and prevention vaccine market was valued US$ 41.12 Billion in 2017 and is projected to exhibit a CAGR of 12.1% over the forecast period (2017 – 2025).
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Key Trends and Analysis of the Disease Control and Prevention Vaccine Market:
Increasing research and development activities by manufacturers for introducing new vaccines is expected to drive growth of the market. For instance, in 2014, National Institute of Allergy and Infectious Disease, department of National institute of Health (NIH) collaborating with GlaxoSmithKline developed Ebola vaccine, which is in clinical trial phase in the U.K. Moreover, development of HIV vaccine is major target of vaccine developing companies and institutes, which is expected to be launched over the forecast period, which in turn is expected to drive growth of the disease control and prevention vaccine market. For instance, Johnson & Johnson together with a consortium of global partners initiated the first efficacy study for an investigational mosaic HIV-1 preventive vaccine. Such novel vaccines launches are expected to boost growth of disease control and prevention vaccines market over the forecast period.
Inovio’s HIV vaccine studies are supported by HIV Vaccine Trails Network (HVTN) and NIH’s National Institute of Allergy and Infectious Disease (NIAID). The studies received financial support of US$ 25 million in 2009, followed by US$ 16 million for five year from NIAID. Furthermore, manufacturers of vaccine market are continuously updating their product portfolio by adopting advance research and development strategies.
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Key Market Takeaways:
- Disease control and prevention vaccine market is projected to witness CAGR of 12.1% during the forecast period (2017–2025), owing to increasing vaccination programs by the government to eradicate disease
- High prevalence of infectious disease is expected to propel demand for infectious disease vaccine in the disease control and prevention vaccine market
- Major players operating in the global disease control and prevention vaccine market include GlaxoSmithKline plc (GSK), Merck & Co. Inc., Sanofi, AstraZeneca PLC, Pfizer, Inc., Serum Institute of India Pvt. Ltd., Sinovac Biotech Ltd., Astellas Pharma Inc., and Daiichi Sankyo
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