Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Human Papillomavirus (HPV) Vaccines market.
Trusted Business Insights presents an updated and Latest Study on Human Papillomavirus (HPV) Vaccines Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Human Papillomavirus (HPV) Vaccines market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The global human papillomavirus (HPV) vaccines market size was USD 3.32 billion in 2018 and is projected to reach USD 11.15 billion by 2026, exhibiting a CAGR of 16.3% during the forecast period.
We have updated Human Papillomavirus (HPV) Vaccines Market with respect to COVID-19 Impact.
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Human papillomavirus vaccines have widely applauded as a sweeping vaccine innovation for the universal benefit of all the women and girls. Every year thousands of women develop cervical cancer, and thousands die from the disease. The vast majority of these deaths occur in low and middle-income countries. Currently, in South-east Asia, cervical cancer is the second most common cancer, while China has recorded the highest incidence rates of cervical cancer in the world. Since 2008, three HPV vaccines have been developed and approved in more than 100 countries worldwide. The development of these effective vaccines has provided an opportunity to protect the population against the deadly disease.
The need for reducing HPV infections will bode well for the market and create demand for HPV vaccines. According to HPV Information Center, annual incidence in 2018 for cervical cancer was highest among the emerging countries such as China and India leading to the demand for vaccine doses and vaccination camps. Governments from all the countries worldwide are keenly focused on implementing policies to help eradicate the burden of the disease. Owing to stringent government regulations, the vaccination supply has increased and is expected to increase at a faster rate during the forecast period. The increase in supply is anticipated to drive the global market value of HPV vaccines.
Additionally, higher R&D investments, increasing burden of population, continuous vaccine supply for immunization in every part of the globe, the launch of more effective HPV vaccines, and higher procurement volume by international organizations are likely to boost the global human papillomavirus vaccines market during the forecast period 2019-2026.
Efficacy of HPV Vaccines to Increase the Sales
One of the most crucial and significant drivers for the human papillomavirus vaccine market growth is the efficacy and protection provided by HPV vaccines in reducing the adverse effects associated with HPV infections. Effective delivery of HPV vaccines can lead to the enhancement of immunogenic potential against HPVs. As manufacturers have developed novel vaccines to immunize against HPV infections, over the past years, change in vaccination policies and beliefs have been observed worldwide. This has potentially increased the uptake and acceptability of HPV vaccines. Both bivalent and polyvalent vaccines have proved their efficacy and safety through clinical trials in protecting against HPV infections and cancer.
Moreover, increasing prevalence of cervical cancer in countries worldwide is anticipated to increase the sales of the HPV vaccines, thus marking a stellar market growth in the near future. For instance, Mercks Gardasil sales grew to US$ 3.2 billion in 2018. Sales of Cervarix also recorded positive growth in the year 2018. Coupled with this, penetration of vaccine doses in the developing and low-income countries through the immunization programs by international organizations such as GAVI/PAHO/WHO will contribute positively to the market growth of the HPV vaccine sales worldwide.
Increasing Efforts to Meet the Unmet Needs to Drive the Production of HPV Vaccines
Another critical driving factor is the increase in the manufacturing of HPV vaccines to maintain supply-demand balance worldwide. Currently, the supply of HPV vaccines is insufficient to meet the existing demand. This scenario is likely to persist for the short term due to the increase in the number of countries planning to introduce HPV vaccines. For instance, in December 2018, the Ministry of Health of Ethiopia introduced the HPV vaccine through a school-based approach for girls of 14 years of age to immunize against cervical cancer. Also, in October 2018, Kenyan authorities started mass vaccination of girls against HPV. In May 2018, Zimbabwe introduced HPV vaccines to protect against the countrys most deadly disease. GAVI is likely to fund the vaccines and is expected to reach 800,000 girls across the country. But, later during the forecast period, the supply is expected to meet the demand leading to the surge in HPV vaccine sales. The increasing efforts made by the manufacturers in support of governmental organizations to meet the unmet needs are likely to increase the production of HPV vaccines during the forecast period.
By Type Analysis
Polyvalent Segment to Dominate the HPV Vaccines Market
Based on type, the human papillomavirus vaccines market can be segmented into bivalent and polyvalent.
Polyvalent HPV vaccines Gardasil/Gardasil 9 of Merck have a lions share in the global human papillomavirus vaccine market. Gardasil, a quadrivalent vaccine immunizes against HPV 6, 11, 16 and 18 strains. The vaccine helps in the prevention of cancer and other HPV infections. Gardasil 9, a nonavalent vaccine, provides immunization against nine high-risk HPV strains. As these are the only two products protecting against multiple HPV strains, they are in high demand and have greater sales worldwide. Gardasil/Gardasil 9 sales growth was driven by higher sales in the Asia Pacific region, particularly China as well as higher demand in the European market.
Moreover, USFDA approval on the expansion of age for HPV vaccination has also reflected on the sales growth of the two products. Also, the higher effectiveness of the polyvalent vaccine as compared to the bivalent vaccine is another factor responsible for the increase in the market value of polyvalent vaccines. Furthermore, strong R&D for the development of novel HPV vaccines has marked the highest CAGR during the forecast period.
On the other hand, bivalent vaccine, GSKs Cervarix, has less demand worldwide. The manufacturer has stopped the supply of Cervarix in the U.S. since 2017 due to a lack of demand. A decline in the total sales of Cervarix was also recorded in the year 2018. The efficacy of the competitors products is attributable to the lower market growth of Cervarix. Also, the polyvalent vaccine is largely preferable than bivalent vaccine which is leading to a drop in the bivalent vaccine segment growth.
By Disease Indication Analysis
HPV Associated Cancer to Hold a Leading Position in Terms of Revenue Generation
On the basis of disease indication, the global market can be segmented into HPV associated cancer and genital warts. HPV associated cancer in the disease indication segment accounts for the highest market share in 2018. It is also likely to emerge as the fastest-growing segment during the forecast period. The dominance is attributable to the higher sales of the HPV vaccines worldwide for immunization, mainly against cervical cancer. High-risk HPV16 and 18 strains have been maximally detected in cervical cancer patients leading to the need for vaccination against these strains. World Health Organization (WHO) says that 100% of cervical cancers and 90% of anal cancers are caused due to HPV. Presently, the availability of only three HPV vaccines has led to a higher demand for protection against HPV16 and HPV18 associated infections.
Moreover, other HPV associated cancers such as anal, oropharynx, and genital parts cancer also demand HPV vaccines to help reduce the infections. HPV associated cancers are largely observed in females than in males. According to the Center for Disease Control and Prevention (CDC), higher incidence rates for vaginal, vulva and cervical cancer was recorded in the year 2018.
On the other hand, genital warts account for comparatively lower market value as the infection is thought to disappear on its known or is even unnoticeable at times. Genital warts, unless serious, do not require any medical treatment. But, for vaccination against genital warts, HPV vaccines are in demand.
By Distribution Channel Analysis
Hospitals & Retail Pharmacies to Lead the Distribution Channel Segment
On the basis of distribution channel, the HPV vaccines market can be segmented into hospitals & retail pharmacies, government suppliers, and others. The hospitals & retail pharmacies is anticipated to have the dominant revenue share in the forecast period. The dominance is attributable to doctors or surgeon preference to conduct vaccination in the hospitals due to the availability of necessary resources and facilities to treat HPV associated cancers and infections. Moreover, patient”s preference in having vaccination and treatment at the smaller and nearby institution. Hospitals & retail pharmacies are also likely to emerge as the fastest-growing segment during the forecast period.
On the flip side, government suppliers also contribute to the growth of the market by procuring high volume doses of HPV vaccines from the manufacturers and supplying them at a lower cost. Government suppliers such as GAVI/PAHO/UNICEF/WHO have vaccination surveillance systems to meet the shortage and demand across the world. According to GAVI, more than 3.9 million girls have received human papillomavirus immunization throughout the world through GAVI support.
North America generated a revenue of USD 1.87 billion in 2018 and is anticipated to dominate the global market during the forecast period. Higher sales and value of Gardasil/Gardasil 9 and the rapid adoption of human papillomavirus vaccines across the region is expected to drive the market growth in North America. Moreover, implementation of marketing, distribution, and launching strategies by the key players ensuring higher vaccine sales has led to the dominance of North America in the global HPV vaccine market.
Asia Pacific is expected to witness the highest growth rate in the market owing to the emendation of immunization policies by governments which has increased the demand for HPV vaccines in the region. Coupled with growing incidence rates of human papillomavirus disease, contributing to the rising demand for vaccine supply is responsible for increasing the growth of the Asia Pacific market. According to the HPV Information Center in 2019, 106,430 annual incidences of cervical cancer was recorded in China alone. Likewise, India, Southeast Asia, and other countries have also recorded higher annual incidence rates in 2019. The growing prevalence of HPV associated cancer and effective implementation of HPV immunization would drive the Asia Pacific market growth during the forecast period.
North America HPV Vaccines Market Size, 2018
On the other hand, Latin America is projected to witness significant growth in the market due to the penetration of HPV vaccines in the region as well as increasing awareness among the patient pool regarding the benefits of HPV immunization. International organizations such as GAVI, PAHO, and UNICEF are also focused on providing vaccines to the needy by procuring high volume doses from manufacturers. The European market for HPV vaccines is anticipated to undergo a slower growth due to a lesser prevalence of HPV associated infections and a lack of adoption of vaccines in under-developed parts of Europe. The Middle East and Africa would have restricted growth in the market value compared to the other key regions owing to lack of awareness about availability & adoption of HPV vaccines and stringent immunization policies.
INDUSTRY KEY PLAYERS
Merck & Co., Inc and GlaxoSmithKline plc to Rule the HPV Market
The human papillomavirus vaccine market is dominated by Merck Co., Inc and GlaxoSmithKline plc due to their only products available in the market for the treatment of HPV infections. Also, the implementation of key distribution strategy in the developed as well as in developing nations has led to an increase in sales of the two companies. Merck has a strong portfolio of HPV vaccines that includes Gardasil and Gardasil 9. Likewise, Merck Co., Inc also has an effective HPV vaccine portfolio in competition to GSKs portfolio. The companys top-selling vaccines Gardasil and Gardasil 9, are contributing to the leading position of Merck.
Moreover, the companies are focused on launching novel vaccines in the market against different strains of human papillomavirus. Currently, Merck has three pipeline candidates in phase 3, while GSK has two pipeline candidates undergoing clinical trials.
List Of Key Companies Covered:
Merck & Co., Inc
As human papillomavirus infection is the most common sexually transmitted disease worldwide demand for HPV vaccines has tremendously increased. The imbalance between the supply-demand has currently caused a hindrance to the growth of the market. Furthermore, increasing prevalence of HPV associated cancer is also a major reason in pushing forward the demand for HPV vaccines. But, later in the upcoming years, the market is anticipated to witness a stellar growth owing to large HPV vaccines sales, the introduction of vaccines in lower-income countries, and due to increasing rates of HPV infections.
Along with this, the report provides a detailed analysis of the human papillomavirus vaccine market and focuses on the key aspects such as leading companies, product types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the features above, the report encompasses several factors that have contributed to the growth of the market over the recent years. Furthermore, it offers a detailed analysis and information as per market segments, helping our readers to get a comprehensive overview of the global market.
Report Scope & Segmentation
By Disease Indication
- HPV Associated Cancer
- Genital Warts
By Distribution Channel
- Hospitals & Retail Pharmacies
- Government Suppliers
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
September 2019: GlaxoSmithKline and china-based company Xiamen Innovax Biotech entered into a partnership for the development and commercialization of next-generation HPV vaccines.
April 2019: DNA-based immunotherapy VGX-300 of Inovio Pharmaceuticals, Inc. was selected as the Best Therapeutic Vaccine at the World Vaccine Congress. VGX-300 is under investigation for treatment of HPV16 and HPV18 infections.
Quick Read Table of Contents of this Report @ Human Papillomavirus (HPV) Vaccines Market Size, Share & Industry Analysis, By Type (Bivalent and Polyvalent), By Disease Indication (HPV Associated Cancer and Genital Warts), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers, and Others) and Geography Forecast, 2020-2029(Includes COVID-18 Business Impact)
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