NEW YORK, Feb. 9 /PRNewswire/ -- While the world holds its breath waiting for "the cure," new vaccines currently in the development pipeline are emerging as promising alternatives to prevent or mitigate diseases. Globally, the vaccine market is expected to reach more than $10 billion in 2007, according to Vaccines: The World Market, a new report from medical market research firm Kalorama Information.
Expectations are high as numerous vaccines for HIV, several forms of cancer, and other diseases including Epstein-Barr virus, Hepatitis C, and herpes are already in various stages of testing. As many as five new vaccines to treat cancer may soon be available, creating an $8 billion dollar cancer vaccine market by 2012, representing over half of the $15 billion total vaccine market that will exist that year, according to Kalorama.
With a 56% market share, pediatric vaccines have long dominated the market. Yet adult vaccines will increase at a faster rate, bolstered by strong influenza and hepatitis vaccine sales.
However, there is an imbalance in vaccine usage in developing countries, where preventable diseases often go unchecked due to cost and supply issues. Shortages and delays as well as safety issues, including needle-stick injuries and reuse of needles, also impact the global market.
"There are certainly major issues hindering the wider usage of current vaccines on a global level," notes Steven Heffner, the publisher of Kalorama Information. "However, most are being seriously addressed by the world health community, and investments in advanced therapeutics technologies as well as novel approaches to vaccine delivery abound."
Even in the U.S. there are challenges. Texas's recent requirement that 11 and 12 year old girls be vaccinated with Merck's Gardasil (TM), which protects against the human papillomavirus that causes most cervical cancer, is being assailed by social conservatives seeking to repeal the order.
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