Global Conjugate Vaccines Market Overview
Conjugate vaccines are a type of vaccines which typically consists of antigens that are coupled chemically to a protein carrier (PC). The conjugation of proteins with the saccharides converts the polysaccharides to T-dependent antigens which generates robust immune response in adults and infants. In other words, conjugate vaccines are the vaccines which couples a strong antigen to a weak antigen to produce a stronger response to the weak antigen by the immune system.
Protein plays an important role in increasing the immunogenic property of the polysaccharide. These vaccines are majorly used to immunize children and infants against some of the invasive diseases which are caused by Hib bacteria, Streptococcus pneumoniae, H.influenza and Neisseria meningitidis. The immature immune system can specifically recognize bacteria with the help of these vaccines.
Market Size and Forecast
The market is observing a vibrant growth on account of increasing prevalence of infectious diseases coupled with the rise in awareness to prevent these diseases. Increasing initiatives by the government in the healthcare sector and advancements in the vaccine formulations are further expected to drive the growth of the market. Additionally, the rising investments in research and development and growing demand for vaccination is anticipated to fuel the market growth. Enhancement in the use of these vaccines for adults along with the increase in the number of regulatory approvals are anticipated to boost the market growth over the forecast period i.e. 2019-2027.
The conjugate vaccines market is anticipated to record a CAGR of 13.5% during the forecast period. The market is segmented by product type into multivalent and monovalent conjugate vaccines, out of which, the monovalent conjugate vaccines are expected to capture the highest market share during the forecast period on account of increased awareness and high quality of vaccines provided by the major industry players. The market is also segmented by disease indication into diphtheria tetanus pertussis, influenza, pneumococcal, meningococcal and others, out of which, the diphtheria tetanus pertussis segment is anticipated to expand significantly on account of high prevalence of respiratory tract infection (RTI).
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Increasing Prevalence of Infectious Diseases
In the developing economies, the incident rate of infectious diseases is growing. The conjugated vaccines are given for different type of infectious diseases. According to the World Health Organization (W.H.O), in the year 2016, there were three types of infectious diseases which were responsible for deaths that included different types of diarrhea (1.4 million deaths), lower respiratory tract infections (3.0 million deaths) and tuberculosis (1.3 million deaths). The infectious diseases are increasing on an alarming rate and are becoming a major concern for private and government organizations. Another report of WHO states that, the cases of measles worldwide spiked in the year 2017 and experienced severe outbreaks. On account of improper vaccination coverage, the outbreak of measles took place in various regions. The report also states that, the number of reported cases have increased to more than 30% worldwide from the year 2016. This increased prevalence of infectious diseases around the globe is expected to bolster the market shares over the forecast period.
Increasing Healthcare Expenditure
The rise in the healthcare expenditure by the government coupled with increased awareness related to conjugate vaccines is anticipated to boost the growth of the market. In the 2016, the healthcare expenditure of US was USD 8,047 per capita which increased to USD 10,209 per capita during the year 2017. This increase in the healthcare expenditure is estimated to fuel the market growth over the forecast period.
Low Accessibility of Vaccines in Remote Areas
People living in rural and remote areas suffer from various problems on account of improper healthcare facilities along with having low accessibility of these vaccines due to transportation and storage problems. These are some of the prime factors that are anticipated to restrain the market growth during the forecast period.
Our-in depth analysis of the global conjugate vaccines market includes the following segments:
By Product Type
By Pathogen Type
- Viral Conjugate Vaccines
- Bacterial Conjugate Vaccines
By Disease Indication
- Diphtheria Tetanus Pertussis
By End Users
On the basis of regional analysis, the global conjugate vaccines market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is anticipated to dominate the overall market of conjugate vaccines on the back of high use of vaccines for preventing various types of diseases combined with increase in investment on research and development activities. Europe is expected to be the second largest market on account of rising healthcare expenditure and sufficient funds for research and development in the field of conjugate vaccines. Further, Asia Pacific region is anticipated to witness fastest growth which can be attributed to the high prevalence of communicable diseases coupled with rising immunization initiatives by different government and private organizations.
The global conjugate vaccines market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Top Featured Companies Dominating The Market
- Novartis AG
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Pfizer, Inc.
- GlaxoSmithKline, plc.
- Merck and Company
- Neuron Biotech
- Sanofi Pasteur
- Bharat Biotech
- Serum Institute of India Pvt. Ltd.
- CSL Behring
- Biological E
- Other Prominent Players