Vaccines are given to children to prevent transmission of diseases through infections and seasonal variation. Young children are more susceptible to infection that drives growth of the market. Moreover, increasing government support is expected to fuel the market’s growth during the forecast period.
Conjugate vaccines are vaccines for infectious diseases. There are special polysaccharide coatings on some bacteria and viruses that help them to escape the immune system. An immature immune system can recognize these bacteria with the help of the conjugate vaccines, as these vaccines link the special polysaccharide coatings to an organism by producing immunity and response. The examples of conjugate vaccines are meningococcal vaccine to prevent meningitis, haemophilus influenzae type B (Hib) vaccine, and pneumococcal vaccine. According to the U.S. National Library of Medicine, National Institutes of Health, high mortality and morbidity are caused due to vaccine-preventable diseases. In 2010, 87% of the population of high-income countries had pneumococcal conjugate vaccines in their immunization schedules, whereas only 2% had pneumococcal conjugate vaccines in their immunization schedules among the total population of low-income countries.
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Major factors driving growth of this market include increasing use of conjugate vaccines for adults, rising number of regulatory approvals for conjugate vaccines, rising prevalence of diseases, and technological advancements. However, low accessibility to vaccines in remote areas and complex production procedure of conjugate vaccine are expected to restrain the growth of this market. Emerging economies such as India and China present an array of opportunities for this market. The market is expected to show large opportunities in the coming future with the advancement of technology in developing countries and new products with increased accuracy. The effectiveness of vaccine conjugates and need more advanced research, which may hinder the growth of the market during the forecasted period.
The global conjugates vaccine market is expected to grow at a CAGR of 10.5% during the forecast period 2017-2023.
GlaxoSmithKline plc. Merck & Co., Inc. (U.S), Fablife. (India), SutroVax Inc.(U.S), Sanofi Pasteur SA.(France), Pfizer (U.S), Sinovac Biotech Ltd. (China), IDT Biologics GmbH, GreenSignal Bio Pharma Limited (India), Taj Pharmaceuticals Limited (India), Bavarian Nordic(U.S) and others are some of the prominent players at the forefront of competition in the Global Conjugate vaccines Market and are profiled in MRFR Analysis.
Global Conjugate Vaccines Market – Regional Analysis
Globally, Conjugate vaccines market consists of four regions North America, Europe, Asia-Pacific and Middle East and Africa.
America is the largest market in the world due to the major initiatives taken by the government for vaccination against numerous diseases as well as excellent management of public awareness programs. Europe is the second largest market for conjugate vaccines which is expected to grow at an overwhelming CAGR during the forecast period. This is due to increasing research and development activities by pharmaceutical companies and research institutes. The market is growing continuously in Europe as the key market players invested huge financial resources on research and development activities for the production of effective vaccines
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In Europe availability of funds for research and development activities and growing emphasis on research for prevention measures of diseases is increasing. Moreover, advances in medical science, awareness about vaccination against more and more diseases than in the past are major driving factors for the growth of this market. Increasing vaccination programs by government, increase in the geriatric population, government’s initiatives and increase in research and development activities together favor growth of this market.
Asia Pacific is the emerging market and is expected to grow rapidly during the forecasted period. India and China are leading countries in this region. Increasing population in developing economies is also driving growth of the market. Indian Academy of Pediatrics (IAP) is encouraging and emphasizing more on research and development of conjugates vaccines for prevention of infectious diseases. The success of vaccination program solely depend on India, which has a high concentration of the infectious diseases but is also empowered by rich technical expertise and resources to drive cooperation of other countries in the region. These are major factors that will drive the growth of the market in this region during the forecasted period. For instance, India is expected to be the fastest growing market in this region due to government focusing more on research and development in life sciences domain. Governments in developing countries of Asia-Pacific have undertaken various vaccinations programs. National Health Mission in India provide vaccination against meningitis, influenza.
The market shows steady growth in Middle East & Africa due to the demand of vaccine conjugates which is less than other regions across the globe.
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