The Global Human Papillomavirus Vaccine Market Anticipated to Generate a Revenue of $10,823.00 Million, Growing at a CAGR of 12.4% from 2022 to 2030Download Sample Reports Overview
The global human papillomavirus vaccine market is estimated to be valued at $10,823.00 million by 2030, surging from $3,892.70 million in 2021, at a noteworthy CAGR of 12.4%.
Impact Analysis of COVID-19 on the Human Papillomavirus Vaccine Market
Because of the unusual nature of the virus, the COVID-19 pandemic has provided enormous growth potential for the global vaccine industry for the launch of new vaccines. As a result of the significant market potential, a huge number of existing and new firms are contributing to the development of a coronavirus vaccine. At the start of the pandemic, around 35 institutes/firms were working on vaccine development. Furthermore, numerous companies have collaborated to properly develop, manufacture, store, and distribute vaccinations around the world. AstraZeneca and the University of Oxford established a collaboration in 2020 to develop and distribute a recombinant COVID-19 vaccine. Similarly, Jubilant HollisterStier LLC agreed into a manufacturing arrangement with Novavax in 2021. The agreement aims to provide fill-finish manufacturing of the COVID-19 vaccine candidate.
Since November 2019, a sudden breakout of COVID-19 has resulted in an increase in fatality rates worldwide. Overall, adults aged 65 and above accounted for 31% of cases, 45% of hospitalizations, 53% of ICU admissions, and 80% of fatalities linked with COVID-19, with people aged 85 and up having the highest rate of severe outcomes. With the increase in overall verified cases, the global public awaited a vaccine capable of battling the virus expectantly. The increased need for coronavirus vaccines is likely to drive the vaccines industry forward. Despite the fact that vaccine research typically takes years to complete the necessary testing, governments and medical agencies accelerated vaccine development due to the severity of the pandemic. All such factors bring new opportunities in the global human papillomavirus vaccine markets.
Global Human Papillomavirus Vaccine Market Analysis
Vaccine technology has evolved tremendously in the last decade, greatly affecting the future of vaccine development. The use of genetic engineering has fueled significant advancements in vaccine research programmes, culminating in the development of innovative products. As a result of these techniques, a variety of virus vaccines based on an attenuated form of the virus have been developed. Furthermore, contemporary technology enables faster virus detection as well as the preservation of virus concentration levels sufficient to induce an immune response. Recent vaccination technologies have been driven primarily by the desire to reduce response times to emerging risks and prepare vaccines for quick deployment. The rising requirement for vaccinations to meet stringent standards, as well as better delivery systems for maximum potency, is driving vaccine industry innovation.
Furthermore, companies are adopting various innovative ways to sustain in the competitive environment; for instance, in June 2017, Janssen Enters Collaboration with Bavarian Nordic to Develop Vaccines against Hepatitis B Virus and HIV-1. In addition, the agreement between Janssen and Bavarian Nordic stems from successful and ongoing collaborations between the companies to develop vaccines to address Ebola and Human Papillomavirus (HPV). Additionally, government and private institutions are launching a slew of activities to develop and distribute the HPV vaccine in order to restrict virus spread, which is expected to drive the market in the forecasted timeframe. This is expected to increase the demand for human papillomavirus vaccine.
However, the success rate of vaccine development is quite low, and manufacturers face difficulties in obtaining initial capital and managing operational costs. Vaccine storage and distribution cost more than any other pharmaceutical product because it necessitates specialized equipment and monitoring systems. Vaccine quality can suffer from a lack of suitable storage and delivery infrastructure. As a result, the high cost of vaccine development and storage is impeding market expansion.
Latest technological innovations in human papillomavirus vaccine industry are estimated to generate huge growth opportunities during the forecast period. Financial assistance and capital for vaccine development are extremely valuable to the industry's success. Vaccine development requires support from organizations such as the National Institutes of Health, the Wellcome Trust, and the Bill & Melinda Gates Foundation. COVID-19 has had a huge impact on many people all over the world, creating a critical need for effective immunizations. Several research projects are being funded and invested in by the government. CureVac's vaccine candidate, for example, has received around USD 350 million from the German government, more than USD 90 million from the European Commission, and more than USD 9 million from The Coalition for Epidemic. Furthermore, growing trends of recombinant vaccines will bring new opportunities in the market; recombinant vaccines are created using yeast/bacterial cells and a piece of the infective agent's viral or bacterial DNA. Recombinant technology is reasonably rapid and does not require the use of live viruses in the production process. Several research institutes and players are using recombinant technology to generate vaccines. For example, GenScript uses E. coli expression to produce recombinant protein for vaccine research applications. Similarly, Serum Institute of India and AstraZeneca's COVIDSHIELD vaccine is based on recombinant vaccine technology. As a result of technological improvements and the introduction of new diseases, recombinant technology will see rapid growth. All such factors are estimated to generate excellent growth opportunities.
Global Human Papillomavirus Vaccine Market, Segmentation
The global human papillomavirus vaccine market is segmented based on type, disease indication, industry vertical, and region.
The type segment is further classified into tetravalent, nonavalent, and bivalent. Among these, the nonavalent sub-segment is anticipated to have the fastest growth and shall surpass $1,933.70 million by 2030, with an increase from $619.3 million in 2021.
A vaccination that works by inducing an immune response to nine different antigens, such as viruses or other microbes. Gardasil 9, for example, is a nonavalent vaccine that protects the body from infection with nine different forms of human papillomaviruses (HPV). Nonavalent human papillomavirus vaccine is an inoculation intended to protect against diseases/precancerous disorders caused by HPV types 6, 11, 16, 18, 31, 33, 45, 52, and 58. Nonavalent human papillomavirus vaccination is marketed under the following brand name: Gardasil 9th. Moreover, nonavalent human papillomavirus (HPV) vaccines are created utilizing recombinant technology, which is based on the virus's L1 capsid protein's self-assembly (viral-like particles, VLPs). VLPs are not infectious because they lack the viral genome. There are three licensed preventive HPV vaccinations available to protect against HPV infections and cervical cancer precursors.
The disease indication segment is further classified into cervical cancer, anal cancer, vulvar & vaginal cancer, penile cancer, oropharyngeal cancer, and others. Among these, cervical cancer sub-segment had the dominant share in 2021 during the forecast period and shall surpass $6,118.00 million by 2030, with an increase from $2,261.00 million in 2021.
Cervical cancer is the fourth most frequent malignancy in women and the leading cause of cancer deaths worldwide. In 2018, 570,000 cases of cervical cancer were reported, with over 300,000 fatalities, accounting for around 8% of overall cancer diagnoses and deaths in women. According to WHO data, almost 80% of cervical cancer occurs in underdeveloped countries, and it is the most commonly identified cancer during pregnancy. As a result, early detection of cervical cancer is critical in order to commence early treatment and therefore lower mortality rates. There are several diagnostic modalities available for the identification of cervical cancer, but the pap smear test is the most accessible and simple.
According to the International Agency for Research on Cancer (IARC), one out of every five people will develop cancer throughout their lifetime, and one out of every eight men and one out of every eleven women will die from it by December 2020. One of the most pressing concerns with this growing load is cancer prevention. Cancer vaccines, which are classified as biological response modifiers, are essential for immune system health. These cancer vaccines target the infectious organisms that may cause cancer by producing antibodies. All such factors will drive the global cervical cancer human papillomavirus vaccine market.
The industry vertical segment is further classified into public & private alliances, government entities, physicians, and others. Among these, the public & private alliances sub-segment is anticipated to have a dominant market share and shall surpass $4,396.50 million by 2030, with an increase from $1,559.70 million in 2021.
In most of the countries public as well as private organizations collaborate for treating infections due to the human papilloma virus. More such initiatives are predicted to drive the sub-segment market in the estimated period. Increasing cases of cervical cancer and rise in the sexual transmitted diseases among the population are predicted to be the major driving factors for the market in the estimated period. In addition, rise in investments among the major companies for setting up vaccine manufacturing units across the world is predicted to create more investment opportunity for the market in the estimated period.
The human papillomavirus vaccine market in the Asia-Pacific region is projected to witness rapid growth. This market generated a revenue of $882.90 million in 2021 and is further projected to reach up to $2,833.50 million by 2030.
Due to increased vaccination awareness and immunization programmes, Asia-Pacific presents lucrative potential for key players in the HPV vaccines industry. Furthermore, market growth in this region is owing to an increase in vaccination demand due to an increase in the geriatric population, high awareness, and continuing government investment to research vaccines. Other causes include Asia-Pacific being heavily inhabited, with India and China being the most populated countries. As a result of the large population, a surge in infectious illness instances is predicted to fuel the growth of the Asia-Pacific HPV vaccines market.
Furthermore, in India, there are now two types of HPV vaccines available. They are both globally licensed. The first is a quadrivalent vaccine known as Gardasil, and the second is a bivalent vaccine known as Cervarix. Both vaccines are made using recombinant DNA technology, which produces non-infectious VLPs containing the HPV L1 protein. In 2018, India had the highest number of cervical cancer deaths. It grew to 60,000. Another startling discovery is that in 2018, India and China collectively accounted for one-third of the worldwide cervical cancer burden.
Cervical cancer can be effectively controlled through raising awareness at the individual and community levels, as well as via appropriate government action. To combat HPV and cervical cancer, governments, non-governmental organizations, and other concerned organizations must work together.
Key Players in the Global Human Papillomavirus Vaccine Market
Some of the leading global human papillomavirus vaccine market players are
- GlaxoSmithKline Plc
- Johnson & Johnson
- Merck & Co., Inc.
- AstraZeneca Plc
- Sanofi S.A.
- Novartis AG
- Serum Institute of India Pvt. Ltd.
- Bharat Biotech
- Inovio Pharmaceuticals, Inc
- Xenetic Biosciences, Inc. among others.