Growing prevalence of HPV-related diseases to drive the human papillomavirus vaccine market in the forecast period, 2024-2028.
According to TechSci Research report, “Human Papillomavirus Vaccine Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the global human papillomavirus vaccine market is anticipated to grow at a significant rate in the forecast period, 2024-2028. The rise in research and development activities, growing technological advancements, large number of women suffering from cervical cancer, among others, are some of the factors that are expected to drive the growth of global human papillomavirus vaccine market. Also, the rise in adoption of advanced technology to significantly improve the ability to facilitate communication, access information, and enhance efficiency is surging the growth of the market. For instance, in 2021, Becton, Dickinson, and Company, a prominent medical technology company, introduced the first CE-marked assay for HPV screening from at-home self-collected vaginal samples. This enables laboratories to process self-collected samples via a Becton, Dickinson, and Company diluent tube
However, the limited availability of the vaccine, low affordability, and high cost of the vaccines for common people are likely to hamper the growth of the global human papillomavirus vaccine market. Stringent regulatory approval scenario further restricts the market growth.
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The global human papillomavirus vaccine market is segmented into valence, disease indication, distribution channel, region, and company.
Based on valence, the market is divided into bivalent, quadrivalent, nonvalent, and others. The tetravalent sub-segment is expected to hold the largest market share as this type of vaccine protects against HPV types 6, 11, 16, and 18.
Based on disease indication, the market is divided into cervical cancer, anal cancer, vaginal cancer, penile cancer, vulvar cancer, and others. The cervical cancer segment is expected to witness largest market share. This is attributed to the rise in number of cases of cervical cancer among the population, which propels the demand for cervical cancer human papillomavirus vaccine.
Based on distribution channel, the market is segmented into hospitals & clinics, governmental & non-governmental organizations, public & private alliances, and others. The public & private alliances segment is anticipated to grow during the forecast period. This is attributed to the rise in initiatives like vaccinating people in developing countries. Several organizations and institutions, such as GAVI, the vaccine alliance are also trying to improve vaccine use in low-mid-countries by providing low-cost vaccines.
Major companies operating in global human papillomavirus vaccine market are:
- Serum Institute of India Pvt. Ltd.
- GlaxoSmithKline Plc.
- Johnson & Johnson
- Merck & Co., Inc.
- AstraZeneca Plc
- Novartis AG
- Inovio Pharmaceuticals, Inc.
- Xenetic Biosciences, Inc.
- Sanofi SA
- Bharat Biotech International Limited
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“Asia-Pacific region dominated the market in 2022 and is expected to maintain its dominance in the coming years due to increasing cases of cervical cancer. The strong desire to overcome the burden of human papillomavirus infections, increasing number of clinical trials related to the development of human papillomavirus vaccine and an expansion of key players operating in the market in the region is expected to support the market growth through 2028.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Human Papillomavirus Vaccine Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Valence (Bivalent, Quadrivalent, Nonvalent, Others), By Disease Indication (Cervical Cancer, Anal Cancer, Vaginal Cancer, Penile Cancer, Vulvar Cancer, Others), By Distribution Channel (Hospitals & Clinics, Governmental & Non-Governmental Organizations, Public & Private Alliances, Others), By Region, and Competition”, has evaluated the future growth potential of global human papillomavirus vaccine market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global human papillomavirus vaccine market.
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