Human Papilloma Virus Vaccine Market Expected to Reach $9,283.6 Million by 2027, at a Growing CAGR of 12.0% - Research DiveDownload Sample Reports Overview
Human papillomavirus vaccine market is projected to reach $9,283.6 million by 2027 growing at a CAGR of 12.0% in the estimated timeframe.
Human papillomavirus vaccine is used to treat the patients who are suffering from viral infection that’s passed through one person to another through skin contact. The human papilloma virus vaccine such as Cervarix and Gardasil are mostly used for females aged from 9 to 30. HPV is also a type of sexually transmitted infection. HPV virus is different from HIV and HSV commonly known as herpes. HPV vaccine helps to protect the body against infection from multiple types of human papillomavirus (HPV).
The novel coronavirus is predicted to have a positive impact on the global human papillomavirus vaccine market. The lockdown has had a desirable impact on the global human papillomavirus vaccine growth in 2020, as all major pharma companies are investing in developing a vaccine COVID-19. In addition, increase in the number of HPV cases among the population is predicted to drive the market in the time of the pandemic. In addition, most of the manufacturers are focused on developing the vaccine for the coronavirus disease.
Nonavalent type sub-segment is predicted to have the highest growth rate in the estimated period. The nonavalent type sub-segment is projected to reach $1,603.80 million by 2027, growing at a CAGR of 13.7% in the estimated time frame. Nonavalent vaccines are used to treat anal cancer, cervical cancer, head cancer, neck cancer, vaginal cancer, vulvar cancer, lesions, and genital warts, which is predicted to boost the sub-segment market in the projected timeframe.
The vulvar & vaginal cancer indication sub segment is predicted to reach $928.7 million by 2027, growing at a CAGR of 14.6% in the forecast period. Increasing cases of vulvar and vaginal cancer among the population is predicted to drive the sub-segment market in the estimated period. As surgery is the only option for the vulvar & vaginal cancer, advancement in the technology helps people to cure the diseases with primary treatment at the early stage, which is predicted to boost the market in the estimated period.
Public and private alliances sub-segment is predicted to have the highest growth rate and market share by the end of 2027. The public and private alliances sub segment is projected to reach $3,794.2 million by 2027, growing at a CAGR of 12.2% in the forecast period. Public as well as private organizations are working together for devising a treatment against the human papillomavirus as well as providing vaccine to infected persons. Such Collaborations are predicted to be the major driving factor for the sub-segment market in the estimated period.
Asia-Pacific region market is predicted to have the highest growth rate in the forecast period. The Asia-Pacific region market is projected to reach $2,322.8 million by 2027, growing at a CAGR of 13.8% in the estimated time frame. Increasing cases of cervical cancer and rise in the sexual transmitted diseases among the population is predicted to be the major driving factor for the market in the estimated period. In addition, rise in investments among the major companies for setting up vaccine manufacturing units across the region is predicted to create more investment opportunity for the regional market in the estimated period.
Top significant key players include are –
Johnson & Johnson
Merck & Co., Inc.
Serum Institute of India Pvt. Ltd.
Inovio Pharmaceuticals, Inc
Xenetic Biosciences, Inc.
Porter’s Five Forces Analysis for Human Papillomavirus Vaccine Market:
- Bargaining Power of Suppliers: There is less number of suppliers in the market whereas the consumers are more.
The bargaining power of suppliers is High.
- Bargaining Power of Consumers: In this market, the concentration of buyers is more.
The bargaining power of consumers is Low.
- Threat of New Entrants: Huge initial investments are essential and there are stringent government regulation for producing the vaccine.
The threat of new entrants is Low.
- Threat of Substitutes: This market has only two products available due to which switching costs for clients is Low.
The threat of substitutes is Low.
- Competitive Rivalry in the Market: The HPV vaccine market has no major players.
The competitive rivalry in the industry is Low.