HPV Vaccine Market to Grow at a Surprising Growth of USD 10.8 Billion During The Forecast Period 2030
Key Takeaways:
- The tetravalent segment to maintain the lion’s share
- The public and private alliances segment to lead the trail
- North America to dominate by 2030
Covid-19 scenario-
- Ever since the Covid-19 pandemic has broken out, vaccine producers and other scientists have been continuously working on the development of HPV vaccines as well as COVID-19 viral symptoms, which has impacted the global papillomavirus vaccine market positively.
- Even during the lockdown and the government controls set in response to the pandemic, most healthcare personnel were seen to carry out their tasks, and companies were also spending heavily on vaccine development.
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Major Factors Driving the Growth of Human Papillomavirus Vaccine Market:
- Rising prevalence of HPV: HPV is the most common sexually transmitted infection (STI) in the world, and it is estimated that over 80% of all sexually active people will be infected with HPV at some point in their lives. Some types of HPV can cause cervical cancer, anal cancer, and other types of cancer.
- Increasing awareness of HPV and its link to cancer: Awareness of HPV and its link to cancer has been increasing in recent years, thanks to public health campaigns and media coverage. This has led to an increase in demand for HPV vaccination.
- Efficacy of HPV vaccines: HPV vaccines are highly effective at preventing HPV-related cancers. Studies have shown that HPV vaccines can reduce the risk of cervical cancer by up to 90%.
- Expanded age range for HPV vaccination: Many countries have expanded the age range for HPV vaccination to include both boys and girls, as well as older adolescents and young adults. This has increased the potential pool of HPV vaccine recipients.
- Government support for HPV vaccination: Many governments are providing support for HPV vaccination programs, including funding for vaccination campaigns and reimbursement for the cost of vaccines.
Market Segmentation:
By vaccine type:
- Quadrivalent HPV vaccines: These vaccines protect against four types of HPV: HPV-16, HPV-18, HPV-31, and HPV-6.
- Bivalent HPV vaccines: These vaccines protect against two types of HPV: HPV-16 and HPV-18.
- Nonavalent HPV vaccines: These vaccines protect against nine types of HPV: HPV-16, HPV-18, HPV-31, HPV-33, HPV-45, HPV-52, HPV-58, HPV-6, and HPV-11.
By target population:
- Girls and women: HPV vaccines are primarily recommended for girls and women, as they are at the highest risk of developing HPV-related cancers.
- Boys and men: Some countries are also recommending HPV vaccination for boys and men, as this can help to reduce the spread of HPV and protect both men and women from HPV-related cancers.
By end user:
- Hospitals: Hospitals are a common setting for HPV vaccination.
- Clinics: Clinics are also a common setting for HPV vaccination.
- Doctors’ offices: Doctors’ offices are another common setting for HPV vaccination.
- Schools: Schools are increasingly being used to provide HPV vaccination to students.
By region:
- North America: North America is the largest market for HPV vaccines.
- Europe: Europe is the second-largest market for HPV vaccines.
- Asia Pacific: Asia Pacific is the third-largest market for HPV vaccines.
- Latin America: Latin America is the fourth-largest market for HPV vaccines.
- Middle East and Africa: The Middle East and Africa is the smallest market for HPV vaccines.
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Regional Growth Dynamics:
North America, held the major share in 2021, generating more than two-fifths of the global human papillomavirus vaccine market. Initiatives taken by the government for treating people infected with the human papilloma virus are predicted to be the major driving factor for the market. At the same time, the market across Asia-Pacific would grow at the fastest CAGR of 14.2% by 2030.
Competitive Landscape:
- Johnson & Johnson
- Merck & Co., Inc.
- AstraZeneca Plc
- Novartis AG
- Serum Institute of India Pvt. Ltd.
- GlaxoSmithKline Plc
- Sanofi S.A.
- Bharat Biotech
- Inovio Pharmaceuticals, Inc.
- Xenetic Biosciences, Inc.
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
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