According to a new report published by KD Market Insights, titled, “Bivalent Human Papillomavirus (HPV) Vaccine Market Insights, Trends, Opportunity & Forecast, 2023–2032,” the global bivalent human papillomavirus (HPV) vaccine market size is anticipated to witness moderate growth during the forecast period i.e., 2023-2032. The increasing awareness about HPV infections and their association with cervical cancer and other related diseases. Additionally, government initiatives and vaccination programs aimed at reducing the prevalence of HPV infections which are the major factors augmenting the growth of the global bivalent human papillomavirus (HPV) vaccine market. The global bivalent human papillomavirus (HPV) vaccine market is anticipated to grow at a moderate CAGR of 5.5% from 2023 to 2032. The market's revenue surged to $1.7 billion in 2022, and it is expected to further accelerate, reaching a notable $2.9 billion by 2032.
The increasing prevalence of HPV infections, particularly high-risk strains associated with cervical cancer and genital warts, are further expected to create ample growth opportunities for the global bivalent human papillomavirus (HPV) vaccine market during the forecast period i.e., 2023-2032. Moreover, growing awareness about the benefits of vaccination and its role in preventing HPV-related diseases, has propelled market expansion. The increasing number of government programs that support HPV vaccination, is expected to contribute towards the market growth during the period.
The North America region accounted for the largest share in the global bivalent human papillomavirus (HPV) vaccine market in 2022. The region is further projected to continue dominating in the market during the forecast period. This can be attributed to the emphasis on comprehensive vaccination programs and awareness campaigns targeting HPV infections.
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According to product type, the HPV16 bivalent vaccine segment accounted for the largest market share in the bivalent human papillomavirus (HPV) vaccine market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
The global bivalent human papillomavirus (HPV) vaccine market is segmented into product type, application and region. Based on product type, the market is bifurcated into (HPV16 Bivalent Vaccine, HPV18 Bivalent Vaccine. Based on application, it is classified into 9-16 Years Old, 16-20 Years Old, 20-26 Years Old, 26-45 Years Old.
The global bivalent human papillomavirus (HPV) vaccine market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Key Insights of Bivalent Human Papillomavirus (HPV) Vaccine Market
· On the basis of product type, the HPV16 bivalent vaccine segment accounted for the largest market share in the bivalent human papillomavirus (HPV) vaccine market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
· On the basis of region, North America accounted for the largest share in the global bivalent human papillomavirus (HPV) vaccine market in 2022. The region is further projected to continue dominating in the market during the forecast period.
· On the basis of region, Asia-Pacific is estimated to account for the second largest share in the market during the forecast period.
Some of the major bivalent human papillomavirus (HPV) vaccine companies profiled in the report include Merck & Co Inc, GSK, INNOVAX, ZSSW, HUMANWELL HEALTHCARE, WALVAX, Serum Institute of India, Beijing Minhai Biotechnology Co., Ltd., China National Pharmaceutical Group Corporation (Sinopharm), and Sinovac Biotech Ltd.
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