Anthrax Vaccine Market Size

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.