Vaccines sector of healthcare market expands, report finds
NEW YORK The global market for vaccines grew to more than $20 billion last year, according to a report by healthcare market research firm Kalorama Information.
The New York-based firm’s report, “Vaccines 2010: World Market Analysis, Key Players and Critical Trends in a Fast-Changing Industry,” indicated that the world market for preventative vaccines was $22.1 billion in 2009, compared with $19 billion in 2008.
“We’ve forecasted a high growth rate for vaccines over the past few years, and market events have matched our predictions,” Kalorama publisher Bruce Carlson said. “The vaccine business is not without its risks, but for some companies, vaccines were the only bright spot in their portfolio in 2009. It’s not a surprise therefore that development is heavy in this sector, and that will continue to contribute to growth over the next five years.”
Much of the market centers on five companies, namely Merck, GlaxoSmithKline, Pfizer, Novartis and Sanofi-Aventis division Sanofi Pasteur. GlaxoSmithKline took a quarter of the market, thanks largely to the influenza vaccines Fluvarix and Hiberix, Kalorama said.