Pune, Jan. 22, 2020 (GLOBE NEWSWIRE) -- The globalHuman Papillomavirus (HPV) Vaccines Market size is projected to reach USD 11.15 billion by 2026, exhibiting a CAGR of 16.3% during the forecast period. The increasing incidence of HPV associated cancers such as anal, oropharynx, and genital parts and growing demand for HPV vaccines to help reduce the infections are factors likely to bolster healthy growth of the market in the forthcoming years. Additionally, growing cases of cancer observed in females will spur demand for HPV vaccines in the foreseeable future. According to the Center for Disease Control and Prevention (CDC), higher incidence rates for vaginal, vulva and cervical cancer was recorded in the year 2018.
According to the report, published by Fortune Business Insights, in a report, titled “Human Papillomavirus (HPV) Vaccines Market Size, Share & Industry 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, 2019-2026” the HPV vaccines market size was valued at USD 3.32 billion in 2018. The report incorporates several factors that have impacted the growth of the human papillomavirus vaccines market shares in recent years. Besides growth stimulators, it reveals a few of the factors that have restricted the market growth. The report highlights a few of the leading products, significant companies, and considerable industry developments of recent times. The competitive landscape in the market size has been discussed in-depth. Forecast values for the market have been provided in the report for the period of 2019 to 2026. Moreover, the report recognizes areas that have witnessed the highest demand and applications for the product in recent years. Nonetheless, the figures and topics covered in this report are both all-inclusive and reliable for the readers.
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Increasing Effectiveness and Enhancement of Vaccines to Promote Healthy Growth
The growing efficacy and improvement in vaccines for reducing the adverse effects associated with HPV infections will have a positive impact on the HPV vaccines market revenue in the forthcoming years. Furthermore, the rising focus of manufacturers towards the development of novel vaccines to immunize against HPV infections will create lucrative business opportunities in the foreseeable future.
Furthermore, the growing cases of cervical cancer around the world has led to an increase in sales of HPV vaccines. For instance, Merck’s Gardasil sales grew from US$ 1.7 billion in 2014 to US$ 3.2 billion in 2018. Additionally, the penetration of vaccines doses in the developing and low-income countries through the immunization programs by international organizations such as GAVI/PAHO/WHO will boost the HPV vaccines market share during the forecast period.
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Mass Vaccination of Girls in Kenya to Spur Growth Opportunities
The increasing manufacturing of HPV vaccines to maintain a supply-demand balance will surge the market’s revenue during the forecast period. The introduction of the HPV vaccine by the Ministry of Health of Ethiopia is predicted to facilitate the healthy growth of the market in the forthcoming year. For instance, in December 2018, the Ministry of Health of Ethiopia introduced the HPV vaccine through a school-based approach for girls of 14 years of age to immunize against cervical cancer. Furthermore, the mass vaccination of girls against HPV in Kenya will accelerate the growth of the market in the forthcoming years.
For instance, in October 2018, Kenyan authorities started mass vaccination of girls against HPV. According to the World Health Organization, the East Africa region has the highest rate of cervical cancer in the world. Additionally, the increasing efforts by government authorities to provide vaccines to the underprivileged citizens will have a stellar effect on the HPV market growth. For instance, Zimbabwe introduced HPV vaccines to protect and reach 800,000 girls across the country. According to the World Cancer Research Fund, Zimbabwe has the fifth highest burden of cervical cancer in the world. Over a thousand women die from the disease in the country every year, making it the most common cause of cancer in women in the country.
Rapid Adoption of HPV Vaccines to Enable Speedy Expansion in North America
North America generated a revenue of USD 1.87 billion in 2018 and is expected to dominate the Human Papillomavirus (HPV) Vaccines Market during the forecast period. Higher sales and value of Gardasil/Gardasil 9 along with rapid adoption of human papillomavirus vaccines across the region will boost development in the region.
Major Companies in the HPV Vaccines Market Include:
- GlaxoSmithKline plc.
- Merck & Co., Inc
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Detailed Table of Content:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Pipeline Analysis
4.2. Technological Advancements in the HPV Vaccines Market
4.3. Regulatory Scenario - For Key Countries, 2018
4.4. Prevalence of Cervical Cancer - For Key Countries, 2018
4.5. Key Industry Developments - Mergers, Acquisitions, and Partnerships
5. Global HPV Vaccines Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Type
5.3. Market Analysis, Insights and Forecast – By Disease Indication
5.3.1. HPV Associated Cancer
5.3.2. Genital Warts
5.4. Market Analysis, Insights and Forecast – By Distribution Channel
5.4.1. Hospital & Retail Pharmacies
5.4.2. Government Suppliers
5.5. Market Analysis, Insights and Forecast – By Geography
5.5.1. North America
5.5.3. Asia pacific
5.5.4. Latin America
5.5.5. Middle East & Africa
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