Global Hib Vaccine Market: Introduction
• Haemophilus influenza type b (Hib) is a bacterium which causes several diseases such as pneumonia, epiglottitis, meningitis, and sepsis mostly in children younger than 5 years
• In infants and young children, Hib disease can cause serious health issues. Infection can spread to different parts of the body — including the brain, throat, spinal cord, and lungs. These infections can even cause serious implication on child’s health; they can be deadly. For example, Hib meningitis causes brain damage or hearing loss in 1 in 5 children who survive it.
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• The Hib vaccine is the best way to protect the child from Hib disease
• Two types of vaccines are available that can be used against Hib disease:
o The Hib vaccine protects children and adults from Hib disease
o The DTaP-IPV/Hib vaccine protects babies ranging from 2 to 18 months from Hib disease, tetanus, diphtheria, whooping cough, and polio
Key Drivers of Global Hib Vaccine Market
• Numerous initiatives taken by governments and private organizations, for example, GAVI combined with the WHO activity to present the haemophilus influenzae type B disease into global immunization programs, are expected to drive the market. Because of the initiative, 80% of the GAVI covered countries have effectively provided the vaccine. These initiatives helped provide immunization to low income countries at a nominal rate, because of which these vaccines are made accessible worldwide.
• The different initiatives taken up by organizations in the healthcare sector to give better medicines coupled with research and development are anticipated to add to the growth of the market during the forecast period
• According to the American Medical Association, due to Hib, approximately 30,000 deaths occur in children aged between 1 to 23 months. The mortality rate caused by Hib is likely to drive the demand for Hib Vaccine, as the vaccine is the best way to protect the infants and young children from infection.
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Restraints of Global Hib Vaccine Market
• High prices of vaccine are projected to hamper the growth of the global Hib vaccine market. For example, average cost of DTap-IP-HI vaccine is US$ 96. Prices can vary from $50 to $200 per vaccine. The high price is expected to hinder the growth of the market in the emerging economies, especially those countries which are not a part of international initiatives.
• These vaccines have limited shelf life, combined with explicit storage conditions for containing these liquid monovalent Hib vaccines that cannot be permitted to freeze, simultaneously should be stored in temperatures between 2?C to 4?C
• Additionally, patients may have hypersensitivity to certain substances that is anticipated to decrease the demand and is assessed to restrain the market in the next few years
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North America to Lead Global Hib Vaccine Market
• In terms of region, the global Hib vaccine market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• North America dominated the global Hib vaccine market, owing to large investment in healthcare sector and continuous research & development. Increase in government initiated vaccination program is expected to fuel the growth of the Hib vaccine market in North America.
• Europe is the second largest market for Hib vaccination due to high adoption of the immunization. Almost all the member countries of Europe have implemented Hib vaccine as a part of infant immunization program.
• The market in Asia Pacific is expected to grow at a high pace during the forecast period due to rise in adoption of vaccine and increased awareness of immunization. A few countries such as China and India are involved in developing vaccines.
• Regions such as Latin America and Middle East & Africa are anticipated to be lucrative markets for Hib vaccine during the forecast period due to various international initiatives taking place and upgraded health care facilities
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Key Players Operating in Global Hib Vaccine Market
• GlaxoSmithKline plc
• Sanofi
• Merck Sharp & Dohme Corp
• Takeda Pharmaceutical Company Limited
• Novartis AG
• Bharat Biotech
• Serum Institute of India Pvt. Ltd
• BIO-MED
• Panacea Biotec Ltd
• LG Chem
• Biological E Limited