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The major factors for the growth of the human papillomavirus (HPV) vaccine market include the approval of new HPV vaccines, and increasing initiatives by government & private organizations for early screening & vaccination. The increasing incidence of HPV associated cancers such as anal, oropharynx, and genital parts and growing demand for HPV vaccines to help reduce the infections are factors likely to bolster healthy growth of the market in the forthcoming years.
The rising government initiatives are expected to propel the overall growth of the market over the forecast period. Also, some of the organizations are focusing on creating a proper supply of products. As per the data published by UNICEF in 2018, the UNICEF human papillomavirus (HPV) vaccine procured over 12.9 million doses in the period 2013-2017. Furthermore, UNICEF procured 84% doses for countries supported by Gavi, the Vaccine Alliance (Gavi), and 16% doses for self-financing middle-income countries (MICs).
However, the HPV vaccine supply through UNICEF is currently not sufficient to meet the increased needs, which it projects could reach 50 million doses in 2019. Such types of initiatives are expected to boost the growth of the market.
Key Market Trends
Cervical Cancer is the Segment is Expected to Hold the Largest Market Share Over the Forecast Period
Nearly all instances of cervical cancer are caused by human papillomavirus (HPV). Also, there are highly sensitive and specific molecular tests now available to identify from DNA, the high-risk HPV types, in cervical cancer screening.
Furthermore, according to the United States National Institute of Health, cervical cancer, was once one of the most common cancers among the US female population, now ranks 14th in frequency. However, rates are still high in developing countries where more than 80% of cervical cancer cases occur.
According to the WHO, cervical cancer is the third most common cancer among women and the second most frequent cause of cancer-related death, worldwide, accounting for nearly 300,000 deaths annually. Thus, owing to the rising cases of cervical cancer the market is expected to witness high growth over the forecast period.
North America is Expected to Hold Largest Market Share over the Forecast Period
The United States is expected to be the largest HPV vaccine market owing to the presence of better healthcare infrastructure. As per the data published by the American Sexual Health Association, each year around 14 million new cases of sexually transmitted HPV occur in the United States with at least 79 million people estimated to be currently infected.
The rising cases are expected to boost the growth of the market in the United States. Gardasil was the first vaccine approved by the FDA in 2006 to prevent certain cancers and diseases caused by HPV in the United States. Higher sales and value of Gardasil along with rapid adoption of human papillomavirus vaccines across the region will boost development in the region.
The market studied is a consolidated market owing to the presence of a few major market players. Also, other players have products in the pipeline and these companies are investing heavily in R&D. Some of the major market players are Merck & Co., Inc., GlaxoSmithKline plc., Sanofi, Johnson & Johnson, AstraZeneca, Serum Institute of India Pvt. Ltd., and Bharat Biotech.
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