The realm of pandemic has its traces right from 430 B.C. in Athens that killed almost two-third population during the Peloponnesian War to The Plague of Justinian that held responsible for the highest number of lives lost in epidemic in 542 AD. Nevertheless, this prodigy has continued till date with its recent encounter to kill 1200 cases in Madagascar through the measles epidemic. This vogue has witnessed it’s dwindle with the build out of appropriate vaccines and re-modelling of the existing vaccine therapies. These immunity shots have proven times and again to revolutionize human’s ability towards disease prevention contributing to communal health advancement.
The global vaccines market is predicted to reach US$ 64,538.4 Mn in 2027 from US$ 36,998.8 in 2018, with a CAGR of 6.5% from 2019-2027 while North America entails largest market for Vaccines with the US holding largest market share followed by Canada.
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Evolution of vaccines:
The exercise of immunization dates back to over hundreds of years. In the west, Edward Jenner is considered as the pioneer of vaccination after his first successful inoculation of vaccinia virus (cowpox) to a 13 year-old-boy that demonstrated immunity towards smallpox in 1796. Eventually, experiments by Louis Pasteur spearheaded the rise of live attenuated Cholera vaccine as well as an inactivated form of anthrax vaccine in 1897 and 1904, respectively. The health gains from immunization soon continued to become one of the robust method for researchers around the globe as well as the pharmaceutical industry to decrease litigation and increase profitability through vaccine production. On the contrary, the past two decades interestingly have explored the implementation of molecular genetics as well as their insights to ameliorate the vaccinology, immunology, and microbiology in spite of the regulatory obligations for reducing the vaccine prices and motivating immunization programs with nadir profit margins. However, for all the intents and purposes, vaccinations against some of the life-threatening diseases have proven to be one of the greatest public health achievements that has prevented millions of premature deaths.
Dynamics in Vaccine Market:
In the current era, there are increasing concerns of spread of infectious diseases with the changing environment. These emerging infectious diseases are a burden on public health but have also an impact on global economies. The new diseases such as HIV, hepatitis, dengue have attracted a huge concern for the government of the respective countries. There is also resurgence of diseases which seemed to be under control such as malaria, cholera and many more. According to the Centers for Disease control and Prevention in 2015, 16.8 million people in the US visited hospitals due to infectious and parasitic diseases. In Africa, chronic viral hepatitis affects around 70 million Africans (60 million with Hepatitis B and 10 million with Hepatitis C). The disease impacts the most important part of the African population i.e. youths and earning African population which are causing tremendous rise in financial debts incurred for the treatment of advanced liver diseases and emotional distress.
Source: The Insight Partners