20 Mar 2014, BioSpectrum Bureau , BioSpectrum
Singapore: The global prophylactic human papillomavirus (HPV) vaccine market value is forecast to experience moderate growth over the coming years, climbing from USD1.7 billion in 2012 to USD2.2 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 2.6 percent, says a new report from research and consulting firm GlobalData.
The company's report states that out of the nine major markets (US, Canada, France, Germany, Italy, Spain, the UK, Japan and Australia), HPV vaccine sales in Canada and Australia are expected to grow at the largest CAGRs of over 9 percent during the forecast period. This will be driven by the launch of Merck's V503 vaccine and the inclusion of males in routine HPV vaccine recommendations.
Mr. Claire Herman, GlobalData's Director of Infectious Disease and Cardiovascular and Metabolic Disorders, said, "Recognizing both the role of HPV in other non-cervical cancers and the benefits of herd immunity has led to a greater emphasis on vaccinating both males and females. A shift away from a sole focus on cervical cancer in females appears to have benefited Merck, as its Gardasil vaccine provides protection against two additional HPV types, which are responsible for genital warts in males and females."
However, the global market for prophylactic HPV vaccines is marked by substantial obstacles to growth, namely low coverage rates and fears over vaccine safety. Additionally, a major clinical unmet need regarding current HPV vaccines is the limited number of HPV types against which they protect.