This is anticipated to drive the human papillomavirus vaccine market in the region. In July 2017, GlaxoSmithKline plc received approval for Cervarix, a product by China FDA.
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The market in Asia Pacific is projected to gain share during the forecast period and is likely to be key revenue generator in the next few years. Vaccination was also recommended for females aged 13 to 26 and males aged 13 to 21 who have not been vaccinated previously or have not completed the three-dose series. Advisory Committee on Immunization Practices (ACIP), and CDC voted to include Gardasil 9, a recombinant human papillomavirus 9-valent vaccine to the routine recommendations for vaccination of 11 and 12 years old children. announced to have received recommendations from the U.S. is attributed to increase market share of the region. Increasing recommendations by various associations for immunization practices in the U.S. Geographically, North America accounted for the largest share of global human papillomavirus vaccine market in 2016. This initiation resulted in approximately 90% decrease in genital warts among heterosexual women and men under the age of 21 years and approximately 50% decrease in high grade cervical abnormalities in Victorian girls under 18 years of age. More than 9 million doses of vaccines have been administered to girls and young women in Australia. According to Cancer Council Australia, nearly all schools in Australia have chosen to participate in the National Human Papillomavirus Vaccination Program. Increase in government initiatives to prevent cervical cancer caused by human papillomavirus. CDC also states that about 14 million people are infected by human papillomavirus every year in the U.S. Over 60% of penile cancers, 70% of vulvar and vaginal cancers, and 90% of anal and cervical cancers are caused due to infection of human papillomavirus. According to the Centers for Disease Control and Prevention (CDC), human papillomavirus is the most common sexually transmitted infections (STI) in the U.S. Increasing prevalence of various cancers caused by human papillomavirus is anticipated to drive the market during the forecast period. The market in the region is anticipated expand at a CAGR of over 9.5% from 2017 to 2025. Rising burden of human papillomavirus infections in emerging economies such as China and India is likely to boost the human papillomavirus vaccine market in Asia Pacific. Western Europe and North America are likely to account for a dominant share of the global human papillomavirus vaccine market due to the launch of new vaccines by key players in these regions. The report suggests that rise in incidences of cervical cancer and anal cancer is anticipated to increase demand for human papillomavirus vaccine during the forecast period.
The human papillomavirus vaccine market was valued at approximately US$ 2.0 Bn in 2016 is anticipated to register compound annual growth rate (CAGR) of over 5.0% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled “Human Papillomavirus Vaccine Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”.