#Vaccine market forecasted to double within the next five years
The rapidly growing vaccine market is said to double its 2007 value in the next five years due to fear of breakouts, lack of competitive threats, and technological progress.
These days industries that promise to double in value in the next five years are few and far between, but the vaccine market looks to be one of the best opportunities within the next decade. According to a new report from companiesandmarkets.com, the value of the vaccine market is supposed to double from its 2007 value of $24.5 billion to a 2016 estimate of $52 billion. In today’s economy that has to be one of the most attractive outlooks for an industry, and it isn’t even able to take account of those random penicillin-like discoveries that are not expected, happen completely by accident, and change the history of medicine.
What makes the prospect so intriguing, is that nearly everything seems to be on the side of vaccine manufacturers. The bird and swine flu epidemics of the last decade cause sales to soar as people flock to their nearest pharmacy to protect themselves and their families. The recent and phenomenal progress in the fields of HIV/AIDS research, HPV, and even cancer are quite frankly mind-boggling and something to be proud of – not to mention something that promises to continue its success and as a result attracts enormous amounts of investment and funding.
The vaccine industry also has another advantage. Many brand name medications have a lot of trouble keeping their profits up after their patents expire and generic substitutes begin to flood the market at much lower prices. Vaccines, however, have far less trouble staying ahead of the curve. Because of the way viruses change and adapt, rapid evolution of manufacturing technology and medical discoveries being made every day, vaccines are so frequently changing and improving their formulas to make them more effective that it is at times impossible for their generic competitors to cut into their profit.
Flu vaccine experts are making sure to stay on top of the industry as the lines on the chart begin their steep incline. A step in the wrong direction could get companies swept away as others rush forward to seize the best opportunities and deals in the vaccines market. Events like Influenza Congress USA are held so that high-ranking corporate executives can get together and make the deals that will keep their business where it needs to be in order to take advantage of the bright future of vaccines.