Human Papillomavirus Vaccine (HPV) Market Is Expected To Reach USD 13.9 billion by 2032, At CAGR 12%

New York, March 13, 2023 (GLOBE NEWSWIRE) — The Global Human Papillomavirus Vaccine (HPV) Market size was USD 4.6 billion in 2022  and size will become worth USD 13.9 billion by 2032, growing at a CAGR of 4.3% from 2023 to 2032. The Human Papillomavirus (HPV) Vaccine is an immunization developed to prevent infection with certain types of the virus that can cause conditions such as cervical cancer and genital warts. The vaccine provides protective immunity against specific HPV types, thereby preventing infection with these viruses.

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Key Takeaway:

• By type, in 2022, the human papillomavirus vaccine (HPV) market was dominated by the polyvalent vaccines segment due to their higher efficiency than other vaccines.
• By disease indication, the HPV-associated cancer segment dominated the market share owing to its rising prevalence.
• Hospital pharmacies hold the largest market share by distribution channel owing to their accessible and quick facilities.
• In 2022, North America dominated the market with the highest revenue share of 45%.
• APAC is expected to register a higher CAGR among all the regions covered in the report. 

Factors affecting the growth of the Human Papillomavirus Vaccine (HPV) industry.

Several factors can impact the growth of the Human Papillomavirus Vaccine (HPV) market.

Some of these factors include:

• Public Awareness: The level of public awareness regarding the dangers posed by HPV has been a key factor driving the demand for vaccination. For instance, education campaigns have enabled individuals to identify their risk of infection and garner knowledge on preventative measures such as vaccination.
• Advancements in R&D Facilities: Adopting advanced technology in manufacturing HPV vaccines may boost the market’s growth during the forecast period.
• Increased Investments in the Pharmaceutical Industry: An increase in investments in the development of the pharmaceutical industry for the Human Papillomavirus Vaccine (HPV) is a significant factor contributing to the growth of the target market.

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Market Growth

The exponential demand for Human Papillomavirus (HPV) vaccine has catalyzed the market’s growth. This trend can be attributed to the increasing awareness among consumers regarding the vaccine’s efficacy in preventing HPV-related diseases such as cervical cancer, genital warts, and other associated health complications. Rising government initiatives to promote immunization programs and favorable reimbursement policies have also increased access to these vaccines, driving market growth. As a result, the Human Papillomavirus Vaccine (HPV) industry has witnessed a surge in growth over the last few years. This growth can be attributed to various factors such as societal awareness, governmental initiatives, and technological advancements. In addition, the level of public awareness regarding the dangers posed by HPV has been a key factor driving the demand for vaccination. For example, education campaigns have enabled individuals to identify their risk of infection and garner knowledge on preventative measures such as vaccination.

Regional Analysis

North America held 45% of the Global Human Papillomavirus Vaccine (HPV) Market share in 2022. In North America, the United States and Canada are the primary consumers of HPV vaccines, with a combined share of nearly 75% of the target market. Owing to various reasons, such as its high vaccine uptake rate and the presence of major key players.

Moreover, HPV has been linked to various cancers, such as cervical cancer and genital warts, which vaccinations can prevent. In addition, healthcare professionals have recognized that early vaccination is necessary to protect adults against these diseases before exposure to HPV. As a result of this awareness, North America countries such as Canada and the U.S. have adopted policies that promote widespread access to HPV vaccination programs for adolescents. Moreover, government funding has contributed significantly towards increasing vaccine uptake rates across North America by incentivizing parents and health care providers. This has resulted in higher adoption rates of HPV vaccines compared with other parts of the world where access to these life-saving drugs is still limited or non-existent. Furthermore, APAC is expected to increase during the forecast period due to the growing population, which is boosting the prevalence of Human Papillomavirus, thus increasing demand for the vaccine.

Competitive Landscape

The competitive landscape of the market has also been examined in this report. Some of the major players include GlaxoSmithKline plc., Sanofi, Pifzer Inc., Merck & Co. Inc., Novartis AG, Emergent Biosolutions, CSL Limited, Xenetic Bioscienes Inc., Inovio Pharmaceuticals, Inc., Thymox Technology, Benefit Corporation, Bosque Solutions, Serum Institute of India Pvt. Ltd, Bharat Biotec., Other Key Players

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Scope of the Report

Market Drivers

The driving factors for the Human Papillomavirus (HPV) Vaccine Market have been multifaceted and varied. Regarding macroeconomic drivers, the increasing awareness among consumers of the potential risks associated with HPV infection has significantly influenced the demand for vaccination. In addition, consumers are increasingly turning to preventive healthcare measures to reduce their risk of contracting HPV and other related diseases, raising the demand for vaccination. Moreover, rising public awareness and acceptance of HPV vaccination, rising healthcare expenditure in developed countries, concerted efforts from governments to promote HPV vaccination, and the presence of robust distribution networks.

Market Restraints

With the increasing demand for vaccines to prevent HPV, several factors have been identified as potential restraints on the development of this market. These factors include cost, availability, hesitancy among certain demographic groups, and inadequate knowledge about HPV and its impact on health. Moreover, limited launches of products offered by manufacturers may hamper the growth of the market.

Market Opportunities

A rising number of HPV awareness programs owing to the increased prevalence of severe health conditions such as cervical cancer, genital warts, and other types of cancer are anticipated to create lucrative opportunities for major key players. Moreover, the Human Papillomavirus (HPV) Vaccine market provides opportunities for stakeholders to capitalize on the lucrative market by leveraging the numerous advancements in immunology and preventative health care. Furthermore, these stakeholders can create opportunities to expand their operations across this increasingly competitive landscape by deploying novel strategies such as innovative product designs, novel marketing techniques, and increased access through improved distribution networks.

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Report Segmentation of the Human Papillomavirus Vaccine (HPV) Market

Type Insight

The human papillomavirus vaccine market has been segmented based on the type into bivalent, polyvalent, and quadrivalent. The polyvalent segment accounted for the largest revenue share in 2022. The polyvalent vaccine’s higher efficiency than the bivalent vaccine is another factor responsible for the surge in the market value of the polyvalent vaccine.

Disease Indication Insight

The global human papillomavirus vaccine market is segmented by disease indication into HPV-associated cancer and genital warts. The HPV-associated cancer segment holds the largest market share due to increased prevalence among females. In addition, cervical cancer is the fourth most common HPV-associated cancer, with an estimated 604,000 new cases worldwide in 2020. These cancers are usually caused by chronic infection of high-risk types of HPV and can have serious health consequences if left untreated.

Distribution Channel Insight

By distribution channel, the Human Papillomavirus Vaccine (HPV) market is further divided into hospital pharmacies, retail pharmacies, and government suppliers. Hospital pharmacies held the largest market share due to their accessible and quick facilities.

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Market Segmentation

Based On Type

Based On Disease Indication

• HPV Associated Cancer
• Genital Warts

Based On the Distribution Channel

• Hospitals Pharmacies
• Retail Pharmacies
• Government Suppliers
• Other Distribution Channels 

By Geography

North America

Western Europe

• Germany
• France
• The UK
• Spain
• Italy
• Portugal
• Ireland
• Austria
• Switzerland
• Benelux
• Nordic
• Rest of Western Europe

Eastern Europe

• Russia
• Poland
• The Czech Republic
• Greece
• Rest of Eastern Europe

APAC

• China
• Japan
• South Korea
• India
• Australia & New Zealand
• Indonesia
• Malaysia
• Philippines
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Colombia
• Chile
• Argentina
• Costa Rica
• Rest of Latin America

Middle East & Africa

• Algeria
• Egypt
• Israel
• Kuwait
• Nigeria
• Saudi Arabia
• South Africa
• Turkey
• United Arab Emirates
• Rest of M.E.A.

Competitive Landscape 

Leading key market players are improving their research & development facilities and new product launches by increasing their quality criteria. As a result, market share is dominated by key players such as Sanofi, GlaxoSmithKline plc, Pfizer Inc., Novartis AG, etc.

Some of the major players include:

• GlaxoSmithKline plc.
• Sanofi Company Profile
• Pifzer Inc.
• Merck & Co. Inc.
• Novartis AG Company Profile
• Emergent Biosolutions
• CSL Limited
• Xenetic Bioscienes Inc.
• Inovio Pharmaceuticals, Inc.
• Thymox Technology
• Benefit Corporation
• Bosque Solutions
• Serum Institute of India Pvt. Ltd
• Bharat Biotec.
• Other Key Players

Recent Development of the Human Papillomavirus Vaccine (HPV) Market

• June 2020 – On the eve of Global Vaccine Summit 2020, vaccine manufacturers Inovax, Serum Private Institute of India Private Limited, and Walvax ramped up human papillomavirus vaccine supply availability for Gavi- Supported Countries, which have among the highest cervical cancer burdens in the world.
• January 2020 – The Food and Drug Administration has raised the recommended age to receive the vaccine for human papillomavirus.

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