According to our new research study on “Human Papillomavirus (HPV) Vaccine Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Dosage, Age, Application, and Distribution Channel,” the market is expected to grow from US$ 4,273.84 million in 2022 to US$ 5,730.50 million by 2028; it is estimated to grow at a CAGR of 5.0% from 2022 to 2028. The report highlights trends prevailing in the market and drivers and hindrances pertaining to the global market growth.
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Factors such as increase in prevalence of HPV associated diseases and rise in initiatives by global health organizations drive the overall human papillomavirus (HPV) vaccine market growth. However, the high cost of HPV vaccines hinders the market growth.
The increase in programs for HPV awareness is one of the effective strategies to increase the vaccination uptake and eliminate HPV-associated cancers.
Dana-Farber Cancer Institute, Boston, US, has initiated the HPV and Related Cancers Outreach Program, which aims to reduce the HPV-related cancer burden in the community through education and vaccination. The outreach program has been developed to address common barriers to vaccination. Through workshops with the City of Boston and the Boston Public Health Commission, youth-serving organizations, Boston Public Schools, Area Health Education Centers organizations, and faith-based and other community-based organizations, people in Boston have been educated about it.
Australian Cervical Cancer Foundation’s (ACCF) HPV & Me program is an awareness program that empowers high school students with preventive strategies to eliminate the risks associated with Human Papillomavirus (HPV).
Additionally, in collaboration with computer scientists, HPV-related Epidemiological Research Unit, Norway, developed an innovative approach to communicate the importance of cervical cancer prevention to girls, women, boys, and men of different ages.
Therefore, the market in developing countries is likely to show high growth potential over the next few years.
North America dominated the human papillomavirus (HPV) vaccine market due to the increasing HPV infections and the growing initiatives by governments and institutions for HPV vaccination drive. The US, Canada, and Mexico are witnessing a sequential change in the market. The US accounts the largest share of the regional human papillomavirus (HPV) vaccine market in 2022. Sexual transmitted infection (STI) is the most common infection caused by HPV in the US, and it is often acquired soon after initiating sexual activity. More than 43% of American adults aged 18–59 are infected with genital HPV, with higher rates among men (45%) than women (40%). HPV-related cancers have increased significantly in the past 15 years. In 2015, 43,000 people developed an HPV-related cancer, whereas the count was 30,000 in 1999. While HPV-related cervical and vaginal cancer rates have decreased in recent years, rates for oropharyngeal and anal HPV-related cancers have increased. This increase in HPV infections in the US is mainly driving the growth of the regional market.
The COVID-19 pandemic is likely to have long-term consequences on the HPV vaccine business. Many primary care clinics in the US have continued to operate at a reduced capacity to abide by social distancing measures and adopt stringent cleaning protocols. A reduction in in-person office visits limits opportunities for providers of vaccine to discuss and deliver vaccines. Barriers in transportation are likely to harm HPV vaccination; pharma and biotech companies traditionally find it difficult to market vaccines among the masses because of resistance received from parents and the absence of widespread awareness about school entry requirements that support other adolescent vaccines. The available evidence indicates that the COVID-19 pandemic has dramatically disrupted the delivery of HPV vaccines in 2020 and 2021. Early reports by CDC, suggest that ordering and billing dropped by >70% in March 2020. Furthermore, a 25–50% decrease in HPV vaccine orders continued in June 2020, in contrast to other early childhood-vaccine orders that resurged to near pre-pandemic levels. Although the revival of the HPV vaccine market is in progress, available data suggest that a short-term decline in HPV vaccination coverage will be substantial, and the demand for HPV vaccines will grow in North America in long term.
GSK; Innovax; Walvax; Serum Institute of India Pvt., Ltd.; Vaccitech; Innovio Pharmaceuticals; Merck & Co., Inc.; 2A Pharm; ChengDu Institute of Biological Products Co., Ltd.; Sanofi; R-Pharm; Shanghai Bowei; and BioLeaders are among the leading companies operating in the global human papillomavirus (HPV) vaccine market.
By geography, the human papillomavirus (HPV) vaccine market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, Belarus, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, Southeast Asia, New Zealand, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, Iran, Turkey, Kuwait, Bahrain, Egypt, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, Chile, Guatemala, Peru, Colombia, and the Rest of South & Central America).
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Human Papillomavirus (HPV) Vaccine, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Food and Beverages, Consumers and Goods, Chemicals and Materials.
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