Human papillomavirus is the lead cause of several types of cancers such as vulvar cancer, penile cancer, vaginal cancer, and anal cancer among others. The infection of human papillomavirus can be completely avoided if the patient undergoes proper vaccinations. This has thus been the chief driving factor for the development of the global human papillomavirus vaccine market in recent years.
The vendor landscape of the global human papillomavirus vaccine market is a fragmented one because of the presence of several notable brands operating in the marketspace. The companies are expected to spend million on the development of newer drugs and vaccines to bring down the prevalence of human papillomavirus. Thus, the competition in the market is expected to intensify in the coming years of the projection period ranging from 2019 to 2029.
Some of the key players in the global market are Serum Institute of India Pvt. Ltd., AstraZeneca, Sanofi, Johnson & Johnson, Merck & Co. Inc., and GlaxoSmithKline Plc among others.
There are several factors that are having a highly positive influence on the overall development of the global human papillomavirus vaccine market. One of the key driving factor for the development of the market has been growing number of patients getting affected by it. Over 100 various types of human papillomavirus have been identified. As per the recent findings by the Centre for Disease Control in America, human papillomavirus is one of the most prevalent disease transmitted via sexual interaction. Moreover, growing prevalence of several types of cancer is also expected to drive the growth of the global human papillomavirus vaccine market in the near future.
The study by CDC further states that more than 60% of penile cancers, 70% of vaginal and vulvar cancers, and 90% of cervical and anal cancers are a result of human papillomavirus in the United States. Such high level of patient base is thus creating a strong groundwork for the development of the human papillomavirus vaccine.
In addition to this, in recent years, there has been a growing awareness about the use of human papillomavirus vaccine. Governments and healthcare organizations are consistently spreading awareness about the use of these vaccines and thus helping to push the development of the global market.
The global market for human papillomavirus vaccine market has five key geographical segments that allow the readers understand the overall working dynamics of its regional landscape. These regions are North America, Latin America, Europe, Middle East and Africa, and Asia Pacific. Of these, currently, the global human papillomavirus vaccine is being dominated by the regional segment of North America. The growth of the market is spurred by recent and quicker approvals provided to the latest drugs treating human papillomavirus. In addition to this, the early availability of newer drugs and technologies is also expected to help in increased adoption of the market.
On the other hand, the regional segment of Asia Pacific is expected to show most promise over the course of the given forecast period of 2019 to 2029. The regional segment is growing at a break neck pace because of the increasing investment levels for the development of domestic healthcare infrastructure in emerging economies such as India and China. Moreover, a larger patient pool in this region is also helping to push the development of the Asia Pacific market for human papillomavirus vaccine in the upcoming years of the forecast period.
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