LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global H1N1 vaccines market to generate revenues of USD 3.3 billion by 2020, according to their latest report.
The research study covers the present scenario and growth prospects of the global H1N1 vaccines market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top vendors operating in the global H1N1 vaccines market. The top four vendors included are the companies that generate maximum revenues in the particular market. Also, it discusses the major drivers influencing the market growth and the challenges faced by the vendors and the market as a whole. It also examines key emerging trends and their influence on current and future market scenarios.
Technavio healthcare and life sciences analysts highlight the following four factors that are contributing to the growth of the global H1N1 vaccines market:
- Global action plan for influenza vaccines
- Increase in R&D
- Inclusion in NIP
- Rise in awareness
Global action plan for influenza vaccines
In a 2006 consultation, WHO, in collaboration with vaccine manufacturers, academic experts, public health organizations and funding agencies from developed and developing countries, developed the global action plan for influenza vaccines. The plan intended to combat the global shortage of seasonal epidemic influenza vaccines and pandemic influenza vaccines. It is a comprehensive strategy focused on the increase in seasonal vaccine use and vaccine production capacity, and R&D for influenza vaccines. Further, the organization is strengthening global surveillance systems to accurately analyze the circulating strains of influenza virus and determine the global burden of disease.
According to Barath Palada, a lead analyst at Technavio for vaccines research, “An increase in vaccine production capacity includes measures such as providing technical and financial support to emerging manufacturers. R&D for influenza vaccines is focused on areas such as the standardization of high-growth reassortant vaccine viruses.”
Increase in R&D
The market presents tremendous growth opportunities for vendors because of the growing incidence of the H1N1 flu. The introduction of novel H1N1 vaccines has increased their adoption among patients. Increased investment in R&D by major pharmaceutical companies has also fueled the global H1N1 vaccines market. In addition, technological advancements in the molecular genetics domain and the development of vaccines with broader serotype coverage have influenced the market. The overall revenue from the sales of vaccines has become higher than the overall revenue from the sales of drugs. Hence, major pharmaceutical companies are looking forward to entering the vaccine market.
For instance, VaxiGrip Quadrivalent by Sanofi and MEDI-550 by Medimmune are in the Phase III stage of development. Similarly, Fluzone by Sanofi, danirixin by GSK, and MEDI8852 by Medimmune are in the Phase II stage of development. The launch of drug candidates that are currently in the late developmental stage will also contribute to the market growth.
Inclusion in NIP
The inclusion of vaccination in National Immunization Program (NIP) increases the accessibility to HIN1 vaccines by low-income families. Governments of various countries conduct routine immunization schedules to ensure the availability of HIN1 vaccines for both adults and children. This, in turn, promotes the consumption of these vaccines. Recommended vaccines and dosages are regularly updated to comply with prevalent serogroups of infectious agents. For instance, the CDC has its own immunization schedule for US citizens. Similarly, the US, the UK, and the Indian government are funding HIN1 vaccination drives for their citizens.
Rise in awareness
Early detection of H1N1 influenza is important to reduce the chances of developing severe respiratory illness. The disease can even prove fatal in certain cases. Adequate knowledge of disease symptoms is required to report the condition in the first instance. Growing public awareness and support from both government and non-government agencies is expected to drive the market during the forecast period. The last week of April is observed as World Immunization Week every year as per a WHO mandate. The organization also conducted a program in over 180 countries in 2013 under the slogan 'Protect your world – get vaccinated'. The market leaders in H1N1 vaccines and healthcare professionals were also involved in increasing awareness levels during this week.
In the US, the American Academy of Pediatrics (AAP) holds the National Immunization Awareness Month (NIAM) in August every year. This has helped increase the vaccination coverage level in the country. These foundations organize activities such as summits and fundraising events, which have an awareness-raising effect. These foundations also provide funds to support the ongoing research and encourage new research on the disease. “All these outreach programs will lead to a rise in the consumption of H1N1 vaccines in the market during the forecast period,” says Barath.
Browse Related Reports:
- Global Human Vaccine Market 2016-2020
- Global Antibody Drug Conjugates Market 2016-2020
- Global Immunotherapy Drugs Market 2016-2020
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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