India's vaccine market to grow to $871M by 2016
Anticipating a sizable shift in India's vaccine industry landscape, a new report estimates that the country's vaccine production sector will likely expand to an estimated $871 million by 2016. Compare that with 2011's value of $350 million.
Global Business Intelligence Research forecasts the Indian vaccine market will grow 20% a year for the next four years. New research into cancer vaccines and fears of bioterrorism and severe acute respiratory syndrome (SARS) are sparking the rise in production.
In recent years, India has emerged as a major vaccine producer, aiming efforts on geographical regions where vaccines are not funded by the United Nations or charitable organizations. Such a focus meant exports made up 65% of the Indian vaccines market last year.
India's vaccine market experienced a growth spurt from 2005 to 2011 as Big Pharma posted marked profits. GlaxoSmithKline ($GSK), Merck ($MRK), Sanofi ($SNY) and Pfizer ($PFE) all have skin in the game when it comes to investing in the second most populous country in the world. But GBI expects more growth opportunities for the production and sale of vaccines from emerging economies such as China's.