Global Cervical Cancer Vaccine Market to Cross US$ 1.6 billion by 2020 Says Pharmaion
Dec 03, 2015, 11:30 ET
BURNABY, Canada, December 3, 2015 /PRNewswire/ --
Growing prevalence of cervical cancer coupled with favorable government initiatives to drive global cervical cancer vaccine market through 2020
According to recently published Pharmaion report, "Global Cervical Cancer Vaccine Market Opportunities, 2020", global cervical cancer vaccine market is anticipated to cross US$ 1.6 billion by 2020. Growth in the market is anticipated on account of rising prevalence of cervical cancer, various promising late-stage pipeline candidates and vendors' patient-assistance programs. Moreover, governments in various countries are also organizing different programs and initiatives to increase awareness regarding cervical cancer and associated vaccines available in the market. Furthermore, reduction in the number of recommended number of doses of HPV immunisation from three to two is also expected to have a positive impact on the global cervical cancer vaccine market during 2015 - 2020.
Cervical cancer vaccines are biological preparations that stimulate or strengthen a person's immune system against cancer. Majorly, two cervical cancer vaccines, namely, Gardasil (Merck & Co., Inc.) and Cervarix (GlaxoSmithKline plc), are available across the globe. Gardasil and Cervarix provide protection against four and two types of HPV strains, respectively. As of 2014, Merck & Co., Inc. and GlaxoSmithKline plc were the only two HPV vaccine producers in the global cervical cancer market. However, Xiamen Innovax Biotech Co., Ltd. plans to enter the global cervical cancer market with the launch of its bivalent HPV vaccine Cecolin.
Region-wise, the United States dominated the global cervical cancer market and is anticipated to continue its dominance through 2020 on account of the launch of its nine-valent HPV vaccine, Gardasil 9, in 2014, which protects against the infection of all nine types of HPV. Moreover, growing prevalence of cervical cancer, high per capital income levels and favorable reimbursement policies are expected to result in continuance of US as the largest global cervical cancer vaccine market through 2020.
"Various strategic alliances are being signed between public and private entities for increasing the penetration of cervical cancer vaccine. For instance, GAVI Alliance aims to immunize about 2 million females in developing regions in 2015 using the HPV vaccines Cervarix and Gardasil, which are being supplied at a low cost by GlaxoSmithKline and Merck. Moreover, in the US, National Vaccine Program Office (NVPO) inked a partnership contract with the American Pharmacists Association (APhA) in 2015 in order to utilize alternative vaccination sites, such as pharmacies, to increase the vaccination access and coverage rates in the country." said Mr. Karan Chechi, Research Director with Pharmaion, a research based global pharmaceutical and healthcare consulting firm.
"Global Cervical Cancer Vaccine Market Opportunities, 2020" has analyzed the potential of the global cervical cancer vaccine market and provides statistics and information on market sizes, shares and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the global cervical cancer vaccine market.
Pharmaion is a research based management consulting firm focused exclusively on Healthcare & Pharmaceutical industry. Led by a team of dynamic industry experts, Pharmaion provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, Pharmaion's clients lead rather than follow market trends. Pharmaion has developed a proprietary database which focuses on identifying the unexplored opportunities in Healthcare and Pharmaceutical industry.
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SOURCE Pharmaion Consultants
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