Anthrax Vaccines Market To Reach USD 1.01 Billion By 2028, Increasing Prevalence of Anthrax Disease is Most Significant Factor Estimated To Stimulate Industry Demand – Reports And Data
The global Anthrax Vaccines Market is expected to reach USD 1.01 Billion by 2028, 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.
Leading companies operating in the market and profiled in the report 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.
The pharmaceutical and healthcare sector is rapidly expanding in terms of revenue in the recent years and is expected to register robust CAGR over the forecast period of 2028. Factors such as rapid advancements in the pharma and healthcare sector, adoption of latest technologies, tools and equipment, emergence of various new diseases and improvements in healthcare facilities and infrastructure. In addition, rising healthcare expenditure, increasing per capita income in the developing countries and favorable reimbursement policies are fueling market growth. Increasing funds by various public and private sectors and increasing investments to develop enhanced products and devices are also boosting market growth. Moreover, increasing preference for ambulatory services and point of care services, and increasing funds for research centers and hospitals for drug discovery is expected to fuel market growth going ahead.
The report provides details about competitive landscape of global Anthrax Vaccines market focusing on every market player, its global position, revenue generation product portfolio, company overview, financial planning and business expansion plans. The global Anthrax Vaccines market is quite competitive and comprises various key players at global and regional levels. Key players are investing in research and development activities, and strategizing various plans such as mergers and acquisitions, partnerships, joint ventures, new product launches, to enhance their product base and strengthen their market position.
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 2020 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 2020 and is expected to grow at a CAGR of 7.3% in the period 2019-2028.
- The market in North America held the largest market share in 2020 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 2020, 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.
To know more about the report @ https://www.reportsanddata.com/report-detail/anthrax-vaccines-market