Wilmington, Delaware, United States, Transparency Market Research Inc. , Nov. 07, 2024 (GLOBE NEWSWIRE) -- The global human papillomavirus vaccine market (سوق لقاحات فيروس الورم الحليمي البشري) was projected to attain US$ 4 billion in 2022. It is anticipated to garner a 9.4% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 9.1 billion by 2031.
Human papillomavirus (HPV) is a widespread virus that affects many different regions of the body. Over two hundred viruses make up the HPV category, of which over forty types are transmitted during intercourse. Sexually transmitted infections (STIs) such as HPV that affect the genitalia are often spread through physical contact.
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Throughout the forecast period, a rise in government efforts is anticipated to support the size of the global market for human papillomavirus vaccines. The creation of new compounds that target HPV presents market participants with profitable potential. To get a larger market share, manufacturers are heavily investing in the creation of novel HPV vaccinations for all age groups.
Global Human Papillomavirus Vaccine Market: Key Players
The primary objective of major companies is to enhance the efficiency of the adult human papillomavirus vaccination by investing in research and development and launching new products.
These firms are pursuing profitable revenue prospects by staying up to date with the newest developments in the human papillomavirus vaccine industry. The following companies are well-known participants in the global human papillomavirus vaccine market:
- Merck & Co. Inc.
- GlaxoSmithKline plc
- Sanofi
- AstraZeneca
- Serum Institute of India Pvt. Ltd.
- Xiame Innovax Biotech CO. LTD.
- General Incorporated Foundation
- Chemo-Sero-Therapeutic Research Institute (Kaketsuken)
- Bharat Biotech
Key Findings of the Market Report
- To stop the spread of the human papillomavirus, governments everywhere are launching a number of campaigns and efforts for the creation and distribution of HPV vaccinations.
- Global distribution of HPV vaccinations as well as screening and immunization programs are funded by both private and public entities.
- According to a January 2023 Vaccines Journal article, Switzerland completely funds the HPV vaccination for girls between the ages of 15 and 26 and for boys between the ages of 11 and 14.
Market Trends for Human Papillomavirus Vaccine Market
- The most prevalent sexually transmitted infection (STI) globally is HPV. It is believed that 80% of those who engage in sexual activity have had HPV infection at some point in their life. Over the course of the projection period, an increase in the incidence of HPV-related illnesses such as vaginal, anal, and cervical cancer is anticipated to support demand for the human papillomavirus vaccines globally.
- Cervical cancer is the second most common disease among Indian women, and the second most common among women aged 15 to 44, according to the HPV and Related Cancers report 2023. According to the same source, India diagnoses 123,907 women with cervical cancer annually.
Global Market for Human Papillomavirus Vaccine: Regional Outlook
Various reasons are propelling the growth of human papillomavirus vaccine throughout the region. These are:
- In terms of global market share for human papillomavirus vaccines in 2022, North America held the majority of the share. This is attributed to the population's increased incidence of cervical cancer and other HPV-related malignancies as well as the enhanced healthcare infrastructure.
- In the United States, 9,440 new cases of anal cancer were discovered in 2022, according to research released by the American Cancer Society. Furthermore, 1,450 Canadian women had a cervical cancer diagnosis in 2022, according to the Canadian Cancer Society.
- An article in the Human Vaccine and Immunotherapeutic Journal from February 2023 states that HPV vaccinations in the United States can begin as early as age nine and continue until age 26.
- Approximately 77% of teens, aged 13 to 17 have gotten one or more doses of the HPV vaccination, with roughly 62% completing the whole series. The human papillomavirus vaccine market is anticipated to develop significantly in the area due to significant coverage for the HPV vaccination and early screening programs.
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Some key developments by the players in this market are:
- To begin a cervical cancer screening program in India, Roche Diagnostics India and the Cancer Awareness Prevention and Early Detection Trust (CAPED) signed a Memorandum of Understanding (MoU) in March 2023.
- Health Canada approved the expanded use of GARDASIL 9 (Human Papillomavirus 9-valent Vaccine, Recombinant) in April 2022 for people 9 to 45 years old in order to protect against infection with Human Papillomavirus (HPV) types 6, 11, 16, 18, 31, 33, 45, 52, and 58. Merck Canada received this approval.
Global Human Papillomavirus Vaccine Market Segmentation
Valence
- Bivalent
- Quadrivalent and Nonavalent
Indication
- Cervical Cancer
- Anal Cancer
- Vaginal Cancer
- Penile Cancer
- Vulvar Cancer
- Oropharyngeal Cancer
- Genital Warts
- Others
Distribution Channel
- Physicians
- Wholesalers
- Physician Distributors
- Government Entities
- Public and Private Alliances
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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