Increasing prevalence of Anthrax disease is most significant factor estimated to stimulate market demand.
The global Anthrax Vaccines Market is expected to reach USD 863.7 million by 2026, according to a new report by Reports and Data. The market is stimulated by increasing prevalence of infectious diseases like anthrax worldwide. Besides, the cost-effectiveness of immunizations, new investments opportunities from government, research foundations, donors, advances in research and manufacturing technologies is anticipated to fuel the market growth in the forecast period. Additionally, the presence of large target population in developing markets is driving the market growth.
Nevertheless, lack of awareness, cost-prohibitive vaccination in under-developed nations, scarcity of availability and affordability, strict regulatory norms are the factors which may hamper the market growth in the upcoming years.
An increase in the eating of undercooked meat from infected with the disease is causative of the growth of the market. Also, an increase in industrial processing of contaminated materials like hides and hair wool among others is expected to support the market growth in the future.
The markets in the Asia Pacific and Latin America region are projected to witness significant growth in the forecast period. Developing countries like China and India are likely to drive the market demand in the Asia Pacific region in the upcoming years attributed to economic growth, improved health care infrastructure, increase in the number of insurance payers, growth of the private health care sector, and growing awareness for healthy well-being in these nations.
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Further key findings from the report suggest
- Cell-Free PA vaccines contributed to the largest market share with around 60% of the market share in 2018 and are expected to witness a growth rate of 7.6% during the forecast period. In comparison to AVA, the British AVP consists of lower levels of PA and higher concentrations of additional Bacillus anthracis antigens, including edema factor (EF), lethal factor (LF), and specific bacillus surface proteins. These enhanced components in the British AVP anthrax vaccines may provide a slight improvement in protection against anthrax.
- Anthrax vaccines are primarily used for providing vaccination to animals. Application of these vaccines for animal use dominated the market with a market share of more than 90% in 2018 and is expected to grow at a CAGR of 7.3% in the period 2019-2026.
- The market in North America held the largest market share in 2018 and is estimated to have a CAGR of 7.1% during the forecast period.
- Key participants include Merck & Co. Inc., Emergent Bio-Solutions, Zoetis Inc., PharmaAthene Inc., Biogenesis Bago Inc., Porton Biopharma Inc., Colorado Serum, Merial, Intervac, and Vecol among others.
- In July 2018, the advisory committee on Immunization Practices chose to approve recommendations for the usage of Anthrax Vaccine Adsorbed (AVA) in post-exposure prophylaxis (PEP) in the occurrence of a widespread release of Bacillus anthracis spores.
For the purpose of this report, Reports and Data have segmented global anthrax vaccines market on the basis of product type, application, end-user, and region:
Product Type Outlook (Revenue, USD Million; 2016-2026)
- Cell-Free PA Vaccines
- Anthrax Vaccine Adsorbed (AVA)
- Anthrax Vaccine Precipitated (AVP)
- Live Cells
Application Outlook (Revenue, USD Million; 2016-2026)
- Human Use
- Animal Use
End-user Outlook (Revenue, USD Million; 2016-2026)
- Vaccination Centers
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Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
Key Questions Answered by the Report:
- What are the key growth driving and restraining factors of the Anthrax Vaccines market?
- What are key opportunities and growth prospects of the Anthrax Vaccines industry is expected to witness over the forecast period?
- Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
- Which region is expected to dominate the market growth over the forecast period?
- Which segments are expected to register lucrative growth over the forecast period?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
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