Anthrax Vaccine Market Projected To Grow With Significant CAGR Over The Forecast Period
Anthrax is a bacterial infection caused by Bacillus anthracis. It is usually transmitted through animals. Anthrax can be transmitted from one human through contact of another infected animals and their products. Although it is not contagious i.e. it is no transmitted from one human to another. The signs and symptoms include vomiting, nausea, abdominal pain, headache, and loss of appetite, fever, severe bloody diarrhea in the later stages of the disease, sore throat, and difficulty swallowing. There are four types of anthrax mainly- cutaneous, inhalation, gastrointestinal and injection. Risk factors for anthrax include injection of illegal drugs, handling animal skins, and working in veterinary medicine, especially dealing with livestock.
Global anthrax vaccine market is driven by growing threat of communicable diseases such as anthrax across the globe. Moreover cost-effectiveness of immunizations, new funding opportunities from government, donors, research foundations, advances in research and manufacturing technologies expected to drive market revenue growth of anthrax vaccine. In addition, availability of large target population in emerging markets driving the growth of the anthrax vaccines market. However, lack of awareness, the high cost of the vaccine in under-developed economies, lack of availability and affordability, stringent regulations are the factors which are hampering growth of the anthrax vaccine market.
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Global anthrax vaccine market is divided into following categories-
1. Type of vaccines
- Live Vaccines
- Cell free PA Vaccines
2. End-users
Hospitals, clinics, vaccination centers and others.
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And lastly on the basis of geographical regions, global anthrax vaccine market is divided into five key regions-North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America market expected to present better growth opportunities for market players owing to government initiatives to fight anthrax disease. The presence of various ongoing programs under the organizations such as BARDA, HHSCDC, NIAID, ASPR, and the FDA is one of the key contributing factors for the revenue generation in North America region. Asia Pacific is slowly growing due to a significant demand on account of surging investments in the R&D sector. The extensive vaccine manufacturing facilities across Japan coupled with the presence of sophisticated healthcare infrastructure in the country is contributing to its strong market position. Some of the important players in the anthrax vaccines market are Emergent BioSolutions (US), Elusys Therapeutics (US), Porton Biopharma Limited (UK), and Panacea Biotec (India) to name a few. In 2015, Emergent BioDefense Operations Lansing LLC received U.S. FDA approval for its BioThrax, a vaccine for Anthrax.
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The growing efforts and interest of market players in expanding the product portfolio related to anthrax prevention are expected to propel the market growth in upcoming years. Growing government funding in the United States to generate and store sufficient vaccines against anthrax through various programs, such as Joint Program Executive Office for Chemical and Biological Defense, Biomedical Advanced Research and Development Authority (BARDA), BioShield Legislation and is creating market opportunities for the market players.
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