Vaccines market to grow to 2015, predicts Kalorama
Led by new vaccines and greater acceptance of current products
The world market for preventative vaccines totalled US$22.1bn in 2009, up from US$19bn in 2008, according to healthcare market research publisher Kalorama Information.
US-based Kalorama's new report, Vaccines 2010: World Market Analysis, Key Players, and Critical Trends in a Fast-Changing Industry, predicts that the worldwide vaccine market will increase at a compound annual rate of 9.7% during the next five years as new products are launched and the use of current products expands.
Bruce Carlson, publisher of Kalorama Information, said: ‘We've forecasted a high growth rate for vaccines over the past few years and market events have matched our predictions.
‘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 markets, adult and paediatric. According to Kalorama, the paediatric market is larger, accounting for more than half of the total market. Paediatric vaccines are also growing at a faster rate than adult vaccines and this is expected to continue to 2015.
Pneumococcal and combination DTaP vaccines are driving growth in this sector, while influenza and hepatitis vaccine products are driving sales in the adult segment.
Five pharmaceutical firms dominate the vaccines market: Merck & Co, GlaxoSmithKline (GSK), Sanofi Pasteur, Pfizer and Novartis.
GSK is the market leader with nearly a 25% share in 2009, largely due to its influenza products Fluvarix and Hiberix, according to Kalorama.
