According to a new market research report (a very expensive report hidden behind a paywall), estimate that the total vaccine market will grow from its current worldwide value of approximately US$30 billion to approximately US$100 billion in 2025. That’s an annual growth rate of approximately 10-15% for the sector compared to a 5-7% annual growth rate for all other pharmaceuticals. Still, in 2025, the total worldwide market for pharmaceuticals will be nearly US$800 billion and for medical devices (largely owned by pharmaceutical companies) nearly US$700 billion, which still makes vaccines a small part (about 7%) of the total medical products business. Continue reading “Big Pharma will make a boatload of money from vaccines–good news”
The tropes of the antivaccination horde would be laughable if it weren’t for the seriousness of the diseases that are prevented by vaccines. Even among those people who vaccinate their children for everything, they’ll make up all kinds of lame excuses for not getting the flu vaccine, all easily debunked. And someone will call you a “dumbass” if you use any of those worthless excuses.
One of the most annoying tropes of the vaccine deniers is that somehow Big Pharma (even though some vaccines are sold by Baby Pharma) is forcing dangerous, expensive, and highly profitable vaccines on the market because Big Pharma is nothing more than greedy, unethical executives sitting in their huge offices figuring out which Ferrari they’re going to purchase next week. Setting aside the fact that most Big Pharma execs are far too conservative to drive a Ferrari, does this even make any sense whatsoever?
Let’s get this out first. Big Pharma corporations are generally public, and as such, their shareholders expect them to make profits. But corporations don’t generate profits by turning on a cash printing machine, they must invent, develop and manufacture products, distribute it to the market, and do it well enough to actually generate profits to not only pay their shareholders, but also to invest in the next round of invention, development and manufacturing for the next set of products. Big Pharma has an extremely complex relationship with its market because bringing new products to their customers requires a huge investment in resources (from research to engineering to manufacturing). And Big Pharma has a wide variety of customers including the patient, the physician, the hospital, the insurance company (or government versions of insurance, like Medicare), the government and its regulatory arms, and many others.