Human Papillomavirus Vaccine Market Expected to Reach $10.8 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Human Papillomavirus Vaccine Market," The human papillomavirus vaccine market was valued at $3.9 billion in 2021, and is estimated to reach $10.8 billion by 2030, growing at a CAGR of 12.4% from 2022 to 2030.

There are around 100 types of the human papillomavirus (HPV), 14 of which are cancer-causing. According to the WHO, globally HPV 16 and 18 types cause over 70% of cervical cancers and pre-cancerous cervical lesions. The HPV vaccine market is being driven by rising rates of human papillomavirus (HPV)-related malignancies of the anus, vulva, vagina, penis, and oropharynx, as well as a growing need for infection prevention. Government spending in HPV vaccination programmes is also likely to fuel market expansion. Since June 2020, more than 55% of WHO Member States have begun HPV vaccination. Furthermore, growing healthcare infrastructure and spending in developing countries is anticipated to create hitherto unexplored opportunities for industry participants.  By 2030, adequate increases in production capacity will have resulted in a stable HPV supply. This conclusion is contingent on the effectiveness and timeliness of ongoing clinical development projects, as well as the completion of existing HPV vaccine manufacturers' manufacturing capacity expansions, these factors are anticipated to boost the global human papillomavirus vaccine industry during the forecast period.

The global human papillomavirus vaccine market analysis is segmented on the basis of type, disease indication, industry vertical, and region. Based on type, the market has been divided into tetravalent, nonavalent, and bivalent. Based on disease indication, the market has been divided into cervical cancer, anal cancer, vulvar & vaginal cancer, penile cancer, oropharyngeal cancer, and others. Based on industry vertical, the market has been divided into public and private alliances, government entities, physicians, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.   

The key players profiled in this report include GlaxoSmithKline Plc, Johnson & Johnson, Merck & Co., Inc., AstraZeneca Plc, Sanofi S.A., Novartis AG, Serum Institute of India Pvt. Ltd., Bharat Biotech, Inovio Pharmaceuticals, Inc and Xenetic Biosciences, Inc. among others.

The report focuses on the global human papillomavirus vaccine market opportunity and the major products & applications, where human papillomavirus vaccines are utilized. It further highlights numerous factors that influence the market growth, such as forecast, trends, drivers, restraints, opportunities, and roles of different key players that shape the market. The report focuses on the overall demand for human papillomavirus vaccine in various countries, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices, considering the region-wise differentiated prices.

IMPACT OF COVID-19 ON THE GLOBAL HUMAN PAPILLOMAVIRUS VACCINE MARKET OUTLOOK

• The pandemic has had a favorable impact on the global market for human papillomavirus vaccines. Despite the lockdown and tight government regulations imposed in response to the coronavirus epidemic, most healthcare personnel are performing their duties, and firms are investing extensively in vaccine development.
• The rising demand for HPV vaccine among the population is expected to fuel the market during a pandemic. Human papillomavirus is a lethal virus. Vaccine manufacturers and many other scientists are constantly working on the development of HPV vaccines as well as COVID viral symptoms, which is expected to increase the human papillomavirus vaccine market growth in the forecast years.   
• Furthermore, Because of the COVID-19 pandemic, most medical, pharmacy, and biotech industries have focused on diagnostic kits, precautionary measures, and innovative coronavirus vaccines.

Key Findings of the Study

• The report provides an in-depth analysis of the global human papillomavirus vaccine market trends along with the current and future human papillomavirus vaccine market size.
• On the basis of type, the tetravalent segment emerged as the global leader in 2021 and is anticipated to hold the largest human papillomavirus vaccine market share during the forecast period.
• On the basis of disease indication, the cervical cancer segment emerged as the global leader in 2021 and is anticipated to be the largest market during the forecast period.
• On the basis of region, Asia-Pacific registered the fastest growth and is projected to maintain the position during the forecast period.