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The Human Papillomavirus Vaccine market size is expected to reach USD 12.69 billion by the end of 2027 on account of the rising cases of HPV infections. Fortune Business Insights states in its latest report titled, “Human Papillomavirus (HPV) Vaccine Market Size, Share & COVID-19 Impact Analysis, By Type (Bivalent and Polyvalent), By Disease Indication (HPV Associated Cancer and Genital Warts), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers, and Others) and Geography Forecast, 2020-2027,” that the value of this market was USD 3.80 billion in the year 2019 and will rise at a CAGR of 16.3% between 2020 and 2027.
Merck Received Approval for GARDASIL 9 For Preventing Neck and Head Related Cancers
On June 2020, the U.S. Food and Drug Administration announced an expanded indication approval of a nine-valent HPV vaccine called GARDASIL 9. This vaccine is used for treating oropharyngeal and other cancer types of the head and neck caused by human papillomavirus types 58, 52, 45, 33, 31, 18, and 16. The GARDASIL 9 is a vaccine developed by Merck and Co. Inc., the trial for this vaccine is still ongoing however, only the vaccine for head and neck cancer treatment has been approved. However, complete description and verification is still in its ongoing stage under a confirmatory trial for various clinical benefits.
Dr. Alain Luxembourg the clinical research director of Merck Research Laboratories explains, “The main aim of the GARDASIL 9 is to immunize and prevent females between the ages 9 to 45 years from various cancers such as vaginal, anal, head, vulvar, neck, oropharyngeal, or dysplastic lesions. These cancers are caused by various human papillomaviruses such as type 18, 16, 33, 31, 52, 58, and 45 whereas the prevalence of genital warts are caused by the HPV 11 and 6. We further aim at reducing the number of patient pool for HPV-related cancers for both male and female population.” Such initiatives are likely to aid in expansion of the market in the coming years.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/human-papillomavirus-hpv-vaccines-market-101962
Growing Prevalence of Cervical Cancer to Bolster Growth
The increasing cases of various cancer types, especially cervical cancer, stands as a key factor propelling the global Human Papillomavirus Vaccine market growth. In addition to this, the need to vaccinate people for protection against HPV infections will contribute to the growth of the market. The governments of various nations are spreading awareness and helping their people by purchasing bulk amount of vaccines for HPV vaccines and supplying them to the people at low cost or free of cost. With this, the government aims at reducing the burden of this disease, thereby boosting the market in the forecast period.
On the contrary, the current emergency caused worldwide by the COVID-19 pandemic has imposed a halt on all regular vaccination campaigns, thereby posing major hindrance to the market in the coming years. This, coupled with limited product offerings may also hamper the market in the coming years.
Players Emphasizing on Development of Vaccines for Holding Notable Shares
Currently, Merck Co., and GlaxoSmithKline plc are holding highest share in the market for human papillomavirus vaccination owing to their strong distribution network and continuous investment in development of new vaccines. The other players are engaging in merger and acquisition strategies to aim for a significant position in the market in the coming years.
Prominent Industry Developments of the Market for Human Papillomavirus Vaccine include:
List of Significant Players in the Human Papillomavirus Immunization Market include:
Further Report Findings
The Global Market of Human Papillomavirus Vaccine is categorized into:
ATTRIBUTE | DETAILS |
Study Period | 2016-2027 |
Base Year | 2019 |
Forecast Period | 2020-2027 |
Historical Period | 2016-2018 |
Unit | Value (USD billion) |
Segmentation | By Type
|
By Disease Indication
| |
By Distribution Channel
| |
By Geography
|