First published on January 27, 2016
The business of vaccines is soon to become a major source of
profits for the world’s largest pharmaceutical corporations. A press
release (Business Wire, January 21st 2016) published
by marketwatch.com says that Technavio, one of the leading technology
research and advisory companies in the world predicts that
pharmaceutical corporations who produce vaccines will reach an estimated
$61 billion in profits by 2020.
Today the vaccine market is worth close to $24 billion.
The report titled ‘Global Human Vaccines Market 2016-2020’ gives an
“in-depth analysis” of the possible revenues and “emerging market
trends” globally. According to the Press Release:
The report study indicates that the introduction of new
products is fueling the growth of the market. Moreover, the significant
expansion of the current product offerings is also expected to boost the
market growth. Due to the increasing prevalence rates of various
infectious diseases such as diphtheria, influenza, hepatitis,
pneumococcal diseases, and meningococcal diseases, there has been a
notable increase in the use of vaccines across the globe
