The overall vaccine industry has strengthened itself in terms of its growth rate, with a relatively higher growth rate than most other healthcare market segments. Vaccination has been an invaluable addition to better public health, and has helped millions of children, adults and animals from deadly diseases. The CDC stated in a report that diseases such as diphtheria, polio, and smallpox have been fully eliminated, while measles, tetanus, and rubella are some of the disease that have been greatly controlled within the U.S., through timely administration of vaccines. Thus, vaccination is considered as the most effective form of all preventive measures.
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Increased consumption of chicken in recent years has boosted the demand for poultry vaccines in the U.S.; moreover, rising prevalence of zoonotic diseases has propelled the U.S. animal vaccines market. The remarkably low risk of fatal and serious side effects of vaccines and awareness initiatives by government and non-profit organizations have fueled the U.S. vaccines market. On the other hand, the rigid regulatory pathway and high cost associated with vaccine handling, storage, and transportation are some of the restraining factors that are curbing the growth of this market.
The U.S. vaccine market has been broadly classified into the human vaccine market and the animal vaccine market in the U.S. On the basis of type, the human vaccine market is further divided into pediatric and adult vaccines. Furthermore, according to different antigens, the U.S. human vaccine market has been segmented into meningococcal, influenza, human papillomavirus (HPV), hepatitis, pneumococcal, combination vaccines and more. In 2013, in terms of revenue, the combination vaccines segment comprised the largest segment of the human vaccine market. Nevertheless, the pneumococcal vaccines market is expected to develop as the biggest segment till 2020, thanks to the projected increase in the sales of Prevnar 13 throughout the forecast period. In addition, the meningococcal vaccines segment is also expected to grow rapidly in the coming years.
The U.S. animal vaccines market has been classified into companion vaccines and livestock vaccines. Further classification of companion animal vaccines has been done into canine and feline, whereas the livestock animal vaccines segment has been segmented into the poultry, bovine, porcine, ovine, and equine sub-segments. In 2013, the canine vaccines segment held a slightly larger share than the feline vaccines segment in terms of revenue, owing to the higher average cost of canine vaccination. In livestock animal vaccines, in 2013, the bovine segment held the biggest share in the market, followed by porcine vaccines. Nevertheless, the poultry vaccines segment has been expected to exhibit a progressive CAGR between 2014 and 2020.