Global vaccines market forecast to grow to $34 billion by 2012

Vaccines have emerged as one of the most lucrative segment in the global pharmaceutical industry, according to a new report added to the offering of Research and Markets. Overall, the global vaccine market is expected to register revenues in excess of $34 billion by 2012.

With a projected compound annual growth rate (CAGR) of over 13% during 2009-2012, the industry will emerge as the fastest growing therapy area. The US and Europe represent the two largest global vaccine markets and will continue experiencing healthy growth rate in future.

As per the research Global Vaccine Market Forecast to 2012, the segment of pediatric vaccines presently dominates the global market; however, the adult vaccine segments will define the future growth directions. The cancer vaccine market, led by cervical cancer vaccines, is presently one of the most lucrative areas for vaccine manufacturers, the report notes.