The global vaccine market is showing some escalating growth and it is expected that it will reach total revenues of nearly 60 billion U.S. dollars by 2020. That would be almost double the size the market had back in 2014. Driver of the growth is the increase of various infectious diseases like influenza, swine flu, hepatitis, tuberculosis, diphtheria, Ebola, and meningococcal and pneumococcal diseases. Leading manufacturers of vaccines are big pharma companies like GlaxoSmithKline, Merck & Co., and Pfizer.
How vaccines work
The concept behind the functioning of vaccines - also known as immunizations - is relatively simple: inject a weakened form, or a fragment, of a disease to a person so the body learns to produce antibodies or to start other processes of immunity. As a result, the person’s body is ready to fight the same infection next time. By this way, infectious diseases which once had high death rates like polio and smallpox have been nearly eradicated. Others like measles, mumps, and whooping cough, are mostly under control and larger epidemics have been successfully prevented. While some immunizations last lifelong, others have to be renewed to stay efficient. Despite the obvious success of immunizations and their huge role for public health, there are discussions about the safety and consequences of vaccines in the U.S. and many other countries.
The vaccine market
At this moment, Pfizer’s Prevnar 13 is the world’s leading vaccine product, generating around 5.7 billion U.S. dollars of revenue. Prevnar 13 is a vaccine for the prevention of invasive disease caused by 13 streptococcus pneumoniae strains and can be used in children and adults. The United States are the world’s largest national market for vaccines, while North America is, accordingly, the largest regional market. The global vaccine market is largely dominated by vaccines which are administered intramuscularly. These vaccines make up over half of global revenues, while vaccines which are administered subcutaneously make up around one fifth of the market. Other common routes of administration are oral or intravenous.
Global vaccine market revenues from 2014 to 2020 (in billion U.S. dollars)*
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Statista. (February 9, 2017). Global vaccine market revenues from 2014 to 2020 (in billion U.S. dollars)* [Graph]. In Statista. Retrieved December 04, 2021, from https://www.statista.com/statistics/265102/revenues-in-the-global-vaccine-market/
Statista. "Global vaccine market revenues from 2014 to 2020 (in billion U.S. dollars)*." Chart. February 9, 2017. Statista. Accessed December 04, 2021. https://www.statista.com/statistics/265102/revenues-in-the-global-vaccine-market/
Statista. (2017). Global vaccine market revenues from 2014 to 2020 (in billion U.S. dollars)*. Statista. Statista Inc.. Accessed: December 04, 2021. https://www.statista.com/statistics/265102/revenues-in-the-global-vaccine-market/
Statista. "Global Vaccine Market Revenues from 2014 to 2020 (in Billion U.S. Dollars)*." Statista, Statista Inc., 9 Feb 2017, https://www.statista.com/statistics/265102/revenues-in-the-global-vaccine-market/
Statista, Global vaccine market revenues from 2014 to 2020 (in billion U.S. dollars)* Statista, https://www.statista.com/statistics/265102/revenues-in-the-global-vaccine-market/ (last visited December 04, 2021)