Market Size of Anthrax Vaccine Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 7.60 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Anthrax Vaccine Market Analysis
The anthrax vaccine market is expected to register an estimated CAGR of 7.6% during the forecast period.
- COVID-19 impacted the anthrax vaccine market due to the cancellations of treatments other than COVID-19 and the slowdown of research and development activities for developing an anthrax vaccine. The market players also reported a decline in revenues. For instance, as per the Emergent BioSolutions Inc. FY2021 annual report, the revenue of the anthrax vaccines in FY2021 decreased to USD 259.8 million from USD 373.8 in the previous year. A decrease of 43.8% in anthrax vaccine revenue was reported in 2021. However, the market started recovering since the restrictions were lifted worldwide. In the current scenario, the market has been gradually recovering with the rising Food and Drug Administration (FDA) approvals for new anthrax vaccines and is expected to register market growth in the forecast period.
- The studied market growth is largely attributed to factors such as the increasing prevalence rate of anthrax and the rising consumption of undercooked or raw meat.
- Various government initiatives have been adopted to implement the anthrax vaccination in the country, which is expected to propel the market growth. For instance, as of September 2021, a total of 583 vials (5,830 doses) of the anthrax vaccine were released from the HHS ASPR-managed Strategic National Stockpile for administration to volunteers, and of these, 3,680 doses were administered under the Department of Homeland Security (DHS) first responder vaccine initiative pilot program. The pilot program was continued till December 2021. The pilot program is anticipated to provide anthrax vaccines to selected states in the United States and local emergency response providers to offer vaccinations to emergency responders across the country who are at high risk of exposure to anthrax. Such government-funded programs are expected to propel the market growth during the forecast period.
- In addition, as per the National Institute of Health (NIH) estimates of funding for various research, condition, and disease categories (RCDC), May 2022 update, the research spending on anthrax was USD 19 million in 2021 and USD 20 million in 2022 in the United States. The high spending on the research and development activities of the diseases is expected to create opportunities for market growth during the forecast period.
- Furthermore, the strategic initiatives adopted by market players, such as partnerships, approvals, and clinical trial development, are also contributing to the growth of the studied market. For instance, in April 2022, Emergent BioSolutions Inc. applied for BLA submission for AV7909 post-completion of phase 3 clinical study. The study evaluated the immunogenicity and safety of the vaccine candidate following a two-dose schedule administered intramuscularly in healthy adults. To oversee the development of this program from the early stages to the advanced stages, Emergent has partnered up with the US government. Such partnerships and clinical trial development are estimated to propel the market growth during the forecast period.
- Additionally, in April 2021, Altimmune, Inc., a clinical-stage biopharmaceutical company, reported clinical data on its NasoShield intranasal anthrax vaccine candidate. The Phase 1b trial evaluated the safety and immunogenicity of one and two-dose regimens of NasoShield in healthy volunteers. The clinical trial was carried out with support from the BARDA. Hence, the rising clinical trial activities to develop an innovative anthrax vaccine are expected to propel the market growth during the forecast period.
- Therefore, owing to the aforementioned factors, such as rising clinical trial activities and launches by market players and high investment in R&D of the diseases, the studied market is anticipated to witness growth over the analysis period. However, the lack of awareness of a diagnostic test of the target disease and the high cost of the vaccine are likely to impede market growth.
Anthrax Vaccine Industry Segmentation
Anthrax is an infectious disease caused by gram-positive, rod-shaped bacteria called Bacillus anthracis. It is a rare but serious infection and may affect both animals and humans. Humans and animals get infected when spores enter their bodies through inhalation, contaminated food, soil, cut, or scrape in the skin.
The anthrax vaccine market is segmented by vaccine type (cell-free PA vaccine and live attenuated vaccine), application type (animal use and human use), distribution channel (hospitals, pharmacies, and other distribution channels), and geography (North America, Europe, Asia Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally.
The report offers the value (in USD) for the above segments.
By Vaccine Type | ||||
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Live Attenuated Vaccine |
By Applications | |
Animal Use | |
Human Use |
By Distribution Channel | |
Hospitals | |
Pharmacies | |
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Anthrax Vaccine Market Size Summary
The anthrax vaccine market is poised for significant growth, driven by increasing prevalence rates of anthrax and heightened awareness of its risks. The market experienced a temporary setback due to the COVID-19 pandemic, which led to a slowdown in research and development activities and a decline in revenues. However, the market has been on a recovery path, supported by rising FDA approvals for new vaccines and various government initiatives aimed at enhancing vaccination coverage. These initiatives include the Strategic National Stockpile's distribution of anthrax vaccines and pilot programs to vaccinate emergency responders, which are expected to bolster market expansion. Additionally, substantial investments in research and development, along with strategic partnerships and clinical trials, are creating further opportunities for market growth.
The animal-use anthrax vaccine segment is anticipated to hold a significant share of the market, fueled by increased awareness among animal owners and initiatives by market players to develop vaccines for livestock. The high burden of anthrax in animals, particularly in regions like Africa and Asia-Pacific, is driving demand for these vaccines. In Asia-Pacific, the market is further propelled by the region's high consumption of undercooked or raw meat and ongoing vaccination programs to combat anthrax outbreaks. The market is characterized by a few dominant players, but the rising prevalence of anthrax and growing public awareness may attract new entrants. Overall, the anthrax vaccine market is expected to witness robust growth, supported by strategic initiatives, government programs, and ongoing research and development efforts.
Anthrax Vaccine Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Burden of Anthrax Globally
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1.2.2 Rising Government Vaccination Programs
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1.2.3 Increased Consumption of Undercooked/Raw Meat
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1.3 Market Restraints
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1.3.1 Lack of Awareness for Diagnostic Test of Target Disease
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1.3.2 High Cost of Vaccine
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Buyers/Consumers
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1.4.2 Bargaining Power of Suppliers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value- USD)
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2.1 By Vaccine Type
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2.1.1 Cell Free PA Vaccine
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2.1.1.1 Anthrax Vaccine Absorbed (AVA)
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2.1.1.2 Anthrax Vaccine Precipitated (AVP)
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2.1.2 Live Attenuated Vaccine
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2.2 By Applications
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2.2.1 Animal Use
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2.2.2 Human Use
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2.3 By Distribution Channel
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2.3.1 Hospitals
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2.3.2 Pharmacies
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2.3.3 Other Distribution Channels
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Anthrax Vaccine Market Size FAQs
What is the current Global Anthrax Vaccine Market size?
The Global Anthrax Vaccine Market is projected to register a CAGR of 7.60% during the forecast period (2024-2029)
Who are the key players in Global Anthrax Vaccine Market?
Colondo Serum Company , Merck Co, Inc. (MSD Animal Health), Emergent BioSolutions Inc. , Proton Biopharma Ltd and Altimmune (Pharmathene Inc.) are the major companies operating in the Global Anthrax Vaccine Market.