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Global Human Papillomavirus Vaccine Market Forecast to 2028: Advancements in HPV Diagnostics Tests & Growing Number of HPV Awareness Programs - ResearchAndMarkets.com

The "Human Papillomavirus Vaccine Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type, Dosage, Age, Application, and Distribution Channel" report has been added to ResearchAndMarkets.com's offering.

The global human papillomavirus (HPV) vaccine market was valued at US$ 4,273.84 million in 2022 and is projected to reach US$ 5,730.50 million by 2028.

The growth of the human papillomavirus (HPV) vaccine market is mainly attributed to factors such as increase in prevalence of HPV associated diseases and rise in initiatives taken by global health organizations. However, the high cost of HPV vaccines hinders the overall market growth.

Healthcare organizations have developed and adopted several strategies to prevent and eliminate HPV infections. The World Health Assembly, in August 2020, adopted the global strategy for cervical cancer elimination. As per the strategy, to eliminate cervical cancer, all countries across the world must reach and maintain an incidence rate of below four per 100,000 women. To reduce the incidence rate of cervical cancer, countries should focus on vaccination, screening, and treatment of cervical cancer.

The COVID-19 pandemic is likely to have longer-term consequences on the HPV vaccine business. Many primary care clinics in the US have continued to operate at a reduced capacity to abide by social distancing measures and adopt stringent cleaning protocols. A reduction in in-person office visits limits opportunities for providers of vaccine to discuss and deliver vaccines.

Barriers in transportation are likely to harm HPV vaccination; pharma and biotech companies traditionally find it difficult to market vaccines among the masses because of resistance received from parents and the absence of widespread awareness about school entry requirements that support other adolescent vaccines.

The available evidence indicates that the COVID-19 pandemic has dramatically disrupted the delivery of HPV vaccines in 2020 and 2021. Early reports by CDC, suggest that ordering and billing dropped by >70% in March 2020. Furthermore, a 25-50% decrease in HPV vaccine orders continued in June 2020, in contrast to other early childhood-vaccine orders that resurged to near pre-pandemic levels. Although the revival of the HPV vaccine market is in progress, available data suggest that a short-term decline in HPV vaccination coverage will be substantial, and the demand for HPV vaccines will grow across North America in long term.

The COVID-19 pandemic had significantly impacted the human papillomavirus (HPV) vaccine market. Human papillomavirus (HPV) vaccination programs have been severely impacted by the pandemic. Owing to the pandemic, 872 million students worldwide are unable to attend school due to the subsequent school closures, which have delayed delivery and administration of certain school-based vaccinations.

Based on type, the human papillomavirus (HPV) vaccine market is segmented into 9-valent HPV vaccine, quadrivalent HPV vaccine, and bivalent HPV vaccine. In 2022, the quadrivalent HPV vaccine segment holds the largest market share. However, the market for the 9-valent HPV vaccine segment is expected to witness rapid growth during 2022-2028. With HPV vaccination showing positive outcomes, the new 9-valent HPV vaccine was developed to increase protection against 5 more strains (i.e., HPV types 31, 33, 45, 52, and 58). The 9-valent HPV vaccine offers more protection against HPV than the quadrivalent HPV vaccine and is considered as a safer option.

Based on dosage, the human papillomavirus (HPV) vaccine market is segmented into 2 dose and 3 dose. In 2022, the 2 dose segment accounts for a larger market share. However the 3-dose segment is anticipated to register a higher CAGR in the market during the forecast period.

The global human papillomavirus (HPV) vaccine market, based on age, is segmented into 9 to 14 years and 15 to 45 years. The 9 to 14 years segment holds a larger share of the market in 2022., and the same segment is anticipated to register a higher CAGR during the forecast period.

In terms of application, the global human papillomavirus (HPV) vaccine market is segmented into HPV-attributable cancers and genital warts. The HPV-attributable cancers segment holds a larger share of the market in 2022., and the same segment is anticipated to register a higher CAGR during the forecast period.

On the basis of distribution channel, the global human papillomavirus (HPV) vaccine market is segmented into doctors office, community health clinics, school-based health centers, health departments, hospitals, and others. The hospitals segment held the largest share of the market in 2022., and the school based health centers segment is anticipated to register the highest CAGR in the market during the forecast period.

Key Market Dynamics

Market Drivers

  • Increase in Prevalence of HPV Associated Diseases
  • Initiatives Taken by Global Health Organizations

Market Restraints

  • High Cost of HPV Vaccines

Market Opportunities

  • Growing Number of HPV Awareness Programs

Future Trends

  • Advancements in HPV Diagnostics Tests

Companies Mentioned

  • Merck & Co. In.
  • GSK
  • Serum Institute of India
  • Walvax Biotechnologies
  • Innova
  • Vaccitech
  • Innovio Pharmaceuticals
  • Chengdu Institute of Biological Products Co., Ltd.
  • Sanofi
  • R-Pharm
  • Shanghai Bowei
  • Bioleaders

For more information about this report visit https://www.researchandmarkets.com/r/i9ykhc

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