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Global vaccines market: $48 billion industry forecast by 2015

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World Vaccines Market 2013-2023 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-31 06:24:01
The global vaccines market for will reach $48bn in 2015. From this market, vaccine contract manufacturing will reach $0.62bn in 2015. The vaccine manufacturing market will achieve strong growth from 2013 to 2023. Vaccine manufacturing is an area currently undergoing rapid development, driven by increasing demand from expanding populations and advances in technology. Rapid advances in biotechnology, immunology and genetics are a constant driving force behind the development of vaccines.

In the future, vaccine development will increasingly concentrate on new classes of vaccine designed using recombinant DNA technology, instead of more traditional live, attenuated and inactivated viruses. In addition, use of such technology will allow vaccines to be developed for new diseases. Novel therapeutic vaccines, targeting diseases such as cancer, will be a high growth segment for this market to 2023. The emerging markets in India and China will also become important hubs for vaccine production, driven by healthcare demand in those regions.

The vaccine manufacturing market is highly consolidated, with a few leading players dominating the market. Vaccine development and manufacturing is an expensive process, resulting in high entry barriers. However, there will be opportunities to enter this growing market. As pharma and biotech R&D budgets continue to tighten, companies will try to meet healthcare needs through manufacturing processes at lower cost and with improved efficiency. Outsourcing vaccine manufacturing is one solution – having the advantage of flexibility, whereby a company does not have to heavily invest in facilities, equipment and expertise, so it can focus its resources on other areas, such as marketing and R&D. There are many opportunities for contract pharma manufacturing organisations (CMOs), we note.

Vaccine manufacturing will be driven by advances in technology and the growing vaccine market. There will be a drive towards cell based production methods, ultimately increasing productivity and efficiency. As vaccine manufacturing methods become more complex, the time consuming changeover of vaccine production lines will become ever more frequent. Single-use technologies, such as bioreactors, will benefit production methods. In addition, outsourcing of vaccine manufacturing offers a platform whereby companies can reduce costs and improve their vaccine production processes through outside expertise and flexibility. However, while the benefits of outsourcing are clear, there will be strong competition from in-house operations.

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Mike King
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