Infectious diseases are the leading causes of death worldwide and therefore governments across the globe are majorly focusing on minimizing the global disease burden, specifically for vaccine-preventable diseases. Some governments heavily focus on vaccination programs like Flu vaccination, Japanese Encephalitis etc. and many are partnering with the private sector and private companies for enhancing vaccine research and development for diseases. For instance, in February 2019, child and adolescent immunization schedule was released in the U.S. with certain changes regarding the use of inactivated influenza vaccine (IIV), live attenuated influenza vaccine (LAIV), and Hepatitis A vaccines in children and infants to reduce infant mortality. Similarly, in 2019, WHO launched Polio Endgame Strategy 2019-2023 to immunize every child and eradicate polio completely. The major aims of the program include stopping of all vaccine derived poliovirus outbreaks and eliminate the risk of emergence of polio, strengthening of immunization systems by collaborating healthcare organizations, and to facilitate rapid response and immunization in case of outbreaks.

Further, various governments across the globe are undertaking initiatives to tackle the problems of the infectious disease outbreaks through vaccinations and to spread awareness regarding latest vaccines trends.

  • With the upcoming Olympics and Paralympics in Japan in 2020, the government is concerned about the rubella outbreaks and thus announced that males within age range of 30-50 years would be able to get rubella vaccine for free from 2019.
  • In October 2019, Brazil and Paraguay jointly launched a vaccination campaign to increase immunization against vaccine-preventable diseases in the border cities of Argentina, Brazil, Paraguay, and Uruguay by providing training, help in establishment of proper vaccination rooms, and development of effective strategies to increase immunization coverage.
  • In February, 2019 child and adolescent immunization schedule was released in U.S. with certain changes in schedule aimed to increase immunization. In the schedule recommendations has been made regarding the use of inactivated influenza vaccine (IIV), live attenuated influenza vaccine (LAIV), and Hepatitis A vaccines in children and infants to reduce infant mortality
  • According to the Argentine newspaper PERFIL, in December 2018, Argentina approved a new law, which stated vaccination as national interest and immunization as a social good to prevent the spread of infectious diseases. Under this law, vaccination has been made free and mandatory to be provided by the government in all stages of life such as entry and exit of the school system every year, renewal of ID, passports, residence, medical procedures documents, prenuptial certificates, and driver's licenses, as well as for the processing of family allowances.

Further, the government has been continuously engaged in spending millions for the development of vaccines. For instance,

  • In October 2019, the U.S. government announced to provide funding of $400 million for the project involving development of universal flu vaccine, which would be more comprehensive and long lasting as compared to currently available influenza vaccines.
  • Japan channeled all its global health R&D funding through the Global Health Innovative Technology (GHIT) Fund. In 2017, the government directed 91% of its health R&D spending ($16 million) towards the institution. The remaining funds ($1.6 million) went to the Japanese National Institute of Infectious Diseases (NIID), for research into an HIV vaccination.
  • In 2018, Government of Canada and Ontario announced an investment of up to $70 million towards Sanofi Limited's $500-million project to establish one of the most advanced vaccines.

Thus, increasing government focus for the development of vaccines and  immunization of population and increasing funding for the development of different types of vaccines impart high growth to vaccines market, which is expected to grow at a CAGR of 5.2% to reach $62.2 billion by 2027, according to the Meticulous Research®.

Meticulous Research®, can be accessed at @ https://www.meticulousresearch.com/product/vaccines-market-5076/

Tags: Healthcare

Publications

Related Reports