The global vaccine industry was valued at $24.4 billion in 2007 and is expected to reach $52.1 billion in 2016. This would make a compounded annual growth rate (CAGR) of 11.5%.
The pharmaceutical industry has been intent on strengthening its revenue streams and streamlining operations through lay-offs and shutdowns of manufacturing and R&D (research and development) operations. The success of premium priced vaccines, such as Prevnar, Gardasil, and Cervarix, has prompted big pharmaceutical players, such as Pfizer and AstraZeneca, to invest in the vaccine industry, which promises safe revenues due to the lack of any threat from generics.
The report has concluded that the market dynamics in the current vaccine industry reflect a shift towards a functional model that is characteristic of the conventional pharmaceutical industry. A number of innovative vaccines, some at the development stage and some which have already been introduced, focus on product differentiation as a means to success. The rapid development, production, and distribution of pandemic influenza vaccines could potentially save millions of lives during an influenza pandemic. Due to the short time frame between identification of a pandemic strain and the need for vaccination, researchers are looking at novel technologies for vaccine production that could provide better “real-time” access and be produced more affordably, thereby increasing access for people living in low- and moderate-income countries where an influenza pandemic may likely originate, such as live attenuated (egg-based or cell-based) technology and recombinant technologies (proteins and virus-like particles). Companies are using new vaccine technologies in an effort to increase prices and increase profits from the segment. Also, vaccine players are looking to utilize the brand equity of successful vaccines in generating more revenues from a disease segment.
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