1 October 29, 2014 Dr. Tabassum Khan Global Market Potential for Halal Vaccines.

1

October 29, 2014Dr. Tabassum Khan

Global Market Potential for Halal Vaccines

2

• As the Muslim population continues to grow (estimated at 1.6 billion people in 2014), demand for halal alternatives is increasing, driving investments in this area. Therefore, it has become strategically essential to know about the potential for halal vaccines covering financial, medical and social aspects.

• The Million Dollar Question: Will Halal Vaccines have a negative impact on the current immunization goals? Will the arrival of halal vaccines in immunization coverage lead to disease prevention in larger segments of the populations through increased acceptability?

Halal Vaccines- An Introduction

3

Global Potential for Halal Vaccines

• It is extremely important to comprehend that studying the potential for halal vaccines does not undermine the importance of current vaccines nor does it entail that the unavailability of halal vaccines should jeopardize the current immunization goals

• On the contrary it creates a larger canvas where the current immunization coverage could be improved by removing the mental blockade in certain segments of the population

• It should also be well understood that development of halal vaccines should not in any way compromise on the quality and should not be inferior in any aspect to the existing vaccines.

• The development of halal vaccines should be based on two principles; first and foremost they should exhibit at least non-inferiority to the existing vaccines and secondly they should be acceptable from a social Muslim perspective.

4

• Halal pharmaceuticals are drug products that do not contain any parts or products of animals that are regarded as non-halal by Sharia law (dogs, pigs, and their descendants) or any parts or products of animals that are not slaughtered according to Sharia law

• During their preparation, processing, handling, packaging, storage, and distribution, halal pharmaceutical products need to be physically separated from other pharmaceutical products that do not meet the requirements for halal products, or any other items that have been regarded as non-halal by Sharia law

• As with other pharmaceutical products, halal pharmaceuticals are also safe for consumption, non-poisonous, non-intoxicating, and non-hazardous to health according to prescribed dosage

Halal Pharmaceuticals: A Definition

5

• In the current scenario, in some Muslim populated countries pork-free and alcohol free vaccines are regarded as halal, though not certified as halal

• In most Islamic countries, authorities did not have a clear cut definition of halal vaccines based on Shariah law

• Malaysia, and to a lesser extent India, had a more clear cut approach towards halal certification of vaccines

• It was a common perception that Islamic religious leaders would play a key role in defining Halal vaccine standards

• All the countries across APAC, North Africa, and GCC region follow similar definition for halal vaccines in compliance with the Shariah law

• Islamic leaders in the region play a key role in defining acceptance of a given vaccine as halal

Perceived definitions of Halal vaccines in key markets

Through interviews with a cross-section of the population in the Islamic world, where they were asked how they perceive halal vaccines, the following points emerged:

6

Perceived definition contd.

• The vaccine does not contain any parts or products of animals that are non-halal by Shariah law or any parts or products of animals that are not slaughtered according to Shariah law

• Entire production line and manufacturing facility, including devices, machines, and processing aides deployed at a manufacturing facility must be used for production of halal vaccines or halal pharmaceutical products only

• Sufficient measures should be taken to prevent contamination of vaccine at all stages of production

• Processing, handling, packaging, storage, and transportation should be physically separated from any other non-halal product or najs

However according to experts in the field, any vaccine can be certified as halal ONLY if it complies with following guidelines:

7

Guidelines for Halal PharmaceuticalsMS 2424

8

Global Pharmaceutical Market Sales and Dynamics by Segment (2013)

Global pharmaceutical market

USD 1,000 B (+2%)

Non biotech branded ethicals

USD 412 B (-3%)

41%

Biotech branded ethicals¹

USD 180 B (+7%)

18%

Generics2

USD 283 B (+8%)

28%

OTC

USD 125 B (+4%)

13%

Branded ethical drugs: USD 592 B (59%) (-0%)

9

The vaccines market is characterized by:

High degree of innovation

High upfront capital investments…

… creating a strong barrier to entry for new entrants

Complex manufacturing know-how

Biological competencies

Longer product lifespans than pharmaceuticals

Specific business models according to the types of vaccines and the geographical regions served

Long-standing relationships with governments and healthcare authorities

Huge unmet needs, especially in emerging markets

Limited number of strong players

18%

19%

20%

14%

7%

22%

Sanofi¹

Merck & Co¹

GSK

Pfizer

Novartis

Worldwide vaccines market 2013: USD ≈ 28 B

Others2

% of total market in value

Global Vaccine Market Performance

World Vaccine Market as a fraction of the Global Pharmaceutical Market: 2.8 percent

10

Global Market Potential for Halal Vaccines

11• Source: “State of the global Islamic economy”, Thomson Reuters, 2013 - www.onislam.net/ -

www.nst.com.my/

• Malaysia is a global hub of halal industry and can become the world's first halal vaccine hub

Global Potential for Halal Vaccines- Introduction

The potential for Halal vaccines

It was estimated that Muslim consumers globally spent USD 70 billion on pharmaceuticals in 2012, which was 6.6% of global pharmaceuticals expenditure

Vaccines can be controversial: – Many Muslims refuse to vaccinate their children due to various reasons, including the belief of the presence

of porcine elements in the manufacturing process in some vaccines The meningitis vaccine is required for hajj pilgrims but the halal status of the variants that are available in the market have been contested

– Etc. The Organization of the Islamic Conference (OIC) is emphasizing a push to make vaccines that conform to

religious dietary restrictions in an effort to increase their use and improve public health According to several specialists, Malaysia has potential to position itself as the leader in the production of halal

vaccines and medicines

http://www.onislam.net/

http://www.onislam.net/

http://www.nst.com.my/

http://www.nst.com.my/

• Source: "Muslim Population by Country". The Future of the Global Muslim Population. Pew Research Center. Retrieved 22 December 2011.- "Region: Middle East-North Africa". The Future of the Global Muslim Population. Pew Research Center. Retrieved 22 December 2011 - Pew Research Center 2014 12

Most attractive countries

Muslim population - Top 20 countries

Ind

ia

Ind

on

es

ia

Pa

kis

tan

Ba

ng

lad

es

h

Eg

yp

t

Nig

eria

Iran

Tu

rke

y

Alg

eria

Mo

roc

co

Iraq

Su

da

n

Afg

ha

nis

tan

Eth

iop

ia

Uzb

ek

ista

n

Sa

ud

i Ara

bia

Ye

me

n

Ch

ina

Sy

ria

Ma

lay

sia

0

50000000

100000000

150000000

200000000

250000000

217,286,000

207,034,045

178,097,000

148,607,000

80,024,000

75,728,000

74,819,000

74,660,000

34,780,000 32,381,000

31,108,000

30,855,000

29,047,000

28,721,000

26,833,000

25,493,000

24,023,000

23,308,000

20,895,000

17,139,000

Muslim population (million)

Muslim percentage of

total population

Total Muslim population 2014: 1.619 Billion

Top 20 countries = 82% of Muslims

14.4% 86.1% 96.4% 90.4% 94.7% 47.9% 99.6% 98.6% 98.2% 99.9% 98.9% 71.4% 99.8% 33.8% 96.5% 97.1% 99.0 1.8% 92.8% 61.4%

Percentage of World Muslim

population13.4% 12.7% 10.9% 9.2% 4.9% 4.7% 4.6% 4.6% 2.1% 2.0% 1.9% 1.9% 1.8% 1.8% 1.6% 1.6% 1.5% 1.4% 1.3% 1.1%

• The first Muslim population is in India even if they represent a minority, while in Indonesia and Pakistan, the 2nd and 3rd countries, they count for more than 80%

13• Source: http://www.oicexchanges.org/ • * South Sudan not included


Organization of the Islamic Conference (OIC) countries

• The Organization of the Islamic Conference counts 57 countries, mainly localized in the Middle-East, Africa and South Asia and does not count India

*

Islamic Republic of Afghanistan Republic of Gabon Republic of Maldives Republic of The Sudan*

Republic of Albania Republic of The Gambia Republic of Mali Republic of Suriname

People’s Democratic Republic of Algeria Republic of Guinea Islamic Republic of

Mauritania Syrian Arab Republic

Republic of Azerbaijan Republic of Guinea-Bissau Kingdom of Morocco Republic of Tajikistan

Kingdom of Bahrain Republic of Guyana Republic of Mozambique Republic of Togo

People’s Republic of Bangladesh Republic of Indonesia Republic of Niger Republic of Tunisia

Republic of Benin Islamic Republic of Iran Federal Republic of Nigeria Republic of Turkey

Brunei-Darussalam Republic of Iraq Sultanate of Oman Republic of Turkmenistan

Burkina-Faso Hashemite Kingdom of Jordan Islamic Republic of Pakistan Republic of Uganda

Republic of Cameroon Republic of Kazakhstan State of Palestine State of The United Arab Emirates

Republic of Chad State of Kuwait State of Qatar Republic of Uzbekistan

Union of The Comoros Kyrgyz Republic Kingdom of Saudi Arabia Republic of Yemen

Republic of Côte d’Ivoire Republic of Lebanon Republic of Senegal

Republic of Djibouti Great Socialist People’s Libyan Arab Jamahiriya Republic of Sierra Leone

Arab Republic of Egypt Malaysia Republic of Somalia

http://www.oicexchanges.org/

http://www.oicexchanges.org/

14• Source: “State of the global Islamic economy”, Thomson Reuters, 2013

• In 2012, the first country in terms of pharmaceutical Muslim consumers was Turkey, followed by Saudi Arabia and Indonesia

Muslim pharmaceutical expenditures

Top 5 countries (2012)

14

2

5

3



JordanKuwait

MalaysiaIraq

Morocco

United Arab Emirates

Bangladesh

United Kingdom

IndiaEgypt

PakistanGermany

FranceRussiaAlgeria

USAIran

Indonesia

Saudi Arabia

Turkey

0 2 4 6 8 10 12

0.90.91.01.21.31.31.51.51.6

2.02.12.1

2.52.6

3.13.63.7

5.05.2

10.4

USD B

15• Source: State of the Global Islamic Economy Report 2013

• Turkey is the only country belonging to both top 5 medicines importers and top 5 exporters to the Organization of the Islamic Conference (OIC) countries


Top medicines importers and exporters to the OIC countries

USD B


Egypt

UAE

Algeria

Saudi Arabia

Turkey

0 0.5 1 1.5 2 2.5 3 3.5 4 4.5

1.7

1.7

2.2

3.6

4.01

2

3

4

5

Malaysia

Jordan

Egypt

Indonesia

Turkey

0 0.1 0.2 0.3 0.4 0.5 0.6 0.7

0.2

0.3

0.3

0.4

0.71

2

3

4

5

Top importing countries

Top exporting countriesUSD B

1

23

2

44

5

5/2

16• Source: UNICEF Procurement Advancements, October 2013

• UNICEF procures vaccines and immunization supplies on behalf of around 100 countries annually


Overview of UNICEF procurement

Vaccines: BCG , DTP, TT/Td/DT, Measles containing, OPV, HepB, YF, DTP-HepB, DTP-HepB/Hib, DTP/Hib, Hib, MR, Meningitis, MMR, PCV, RV, HPV, IPV, etc.

Safe Injection equipment

Cold Chain Equipment

Immunization Supplies

Countries UNICEF procures on behalf of

Full schedule

Partial schedule

2012Vaccines Supplies USD 1,053m 1.89 B doses 1,946 shipments

17• Sources: UNICEF, GAVI, OIC

• 34 OIC countries are eligible for GAVI or UNICEF or both supports; the majority of these counties are located on the African continent


Overview of both UNICEF / GAVI and OIC countries

OIC + UNICEF full or partial schedule procurementOIC + eligible for GAVI supportOIC + UNICEF + GAVI support

South America: 1 country

Africa: 24 countries

Middle-east: 7 countries

Asia: 2 countries

Number of countries eligible for GAVI and/or UNICEF support

18• Sources: United Nations, Department of Economic and Social Affairs, Population Division – WHO

immunization summary, 2014 edition – PEW Research on religion and public life – Smart Pharma Consulting analyses

• ¹Bacillus Calmette-Guérin (BCG), diphtheria-tetanus-pertussis (DTP), oral polio, measles, hepatitis B (HepB), yellow fever in countries endemic for the disease, and Haemophilus influenzae meningitis (Hib) conjugate vaccine in countries with high burden of disease

• Indonesia is a secular state with a high percentage of Muslims; it’s the 2nd biggest market in terms of target population but suffers from low immunization coverage


Top 10 most attractive countries for halal vaccines (2/10)

Total population (2015):255 708 000 Muslim population (2015):220 164 588 (86.1%) Births / year (2012):4 736 000 Surviving infants (2012):4 614 000 Infants mortality rate (per 1000 live birth,

2012):26 Under-five mortality rate (per 1000 live birth,

2012):31 Gross national income/capita (USD, 2012):4 810 Percentage of routine EPI¹ vaccines financed

by government (2012):No data

Population data Immunization data

Place of Islam

Islamic republic State religion Secular stateIndonesia

BCG

DTP 1st dose

DTP 3rd dose

HepB 3rd dose

Hib 3rd dose

MCV

Polio 3rd dose

Tetanus 2nd dose

0% 20% 40% 60% 80% 100%

81%

91%

64%

64%

80%

69%

85%

Immunization coverage (2012) Corresponding population / year (2015)

3 267 840 hab.

3 788 800 hab.

3 031 041 hab.

3 031 041 hab.

4 309 760 hab.

3 836 160 hab.

BCG: 1 month

DT: 6 years

DTwPHep: 2, 3, 4 months

Hep. B: 0-7 days

Polio: 2, 3, 4 months

Oral polio: 1, 2, 3, 4 months

Measles: 9 month, 6 years

Tetanus, diphteria: 7-8 years

Vitamin A: 6-59 months

Immunization schedules (2012)



• ¹ Expanded Program on Immunization: Bacillus Calmette-Guérin (BCG), diphtheria-tetanus-pertussis (DTP), oral polio, measles, hepatitis B (HepB), yellow fever in countries endemic for the disease, and Haemophilus influenzae meningitis (Hib) conjugate vaccine in countries

with high burden of disease

• The Islamic republic of Pakistan is an important market in terms of target population but has low immunization coverage and is relatively poor


Top 10 most attractive countries for halal vaccines (3/10)

Total population (2015):188 144 000 Muslim population (2015):181 370 816 (96.4%) Births / year (2012):4 604 000 Surviving infants (2012):4 301 000 Infants mortality rate (per 1000 live birth,





Place of Islam

Islamic republic State religion Secular statePakistan

BCG

DTP 1st dose

DTP 3rd dose

HepB 3rd dose

Hib 3rd dose

MCV

Polio 3rd dose

Tetanus 2nd dose

0% 20% 40% 60% 80% 100%

87%

88%

81%

81%

81%

83%

75%

75%


3 453 000 hab.

3 453 000 hab.

3 821 320 hab.

3 729 240 hab.

3 729 240 hab.

3 729 240 hab.

4 051 520 hab.

4 005 480 hab.

BCG: birth

DT: 6 years

DTwPHibHep: 6, 10, 14 weeks

Measles: 9, 15 months

Oral polio: birth, 6, 10, 14 weeks

Pneumo. conjugate: 6, 10, 14 weeks

Tetanus: 1st contact or pregnancy, +1 month, +6 months, +1 year, +1 year




• ¹ Expanded Program on Immunization: Bacillus Calmette-Guérin (BCG), diphtheria-tetanus-pertussis (DTP), oral polio, measles, hepatitis B (HepB), yellow fever in countries endemic for the disease, and Haemophilus influenzae meningitis (Hib) conjugate vaccine in countries

with high burden of disease

• Malaysia’s high vaccination coverage and extensive immunization schedule make this relatively rich country an attractive market for halal vaccines


20th most attractive country for halal vaccines - Malaysia

Total population (2015):30 651 000 Muslim population (2015):18 819 714 (61.4%) Births / year (2012):516 000 Surviving infants (2012):514 000 Infants mortality rate (per 1000 live birth,





Place of Islam

Islamic republic State religion Secular stateMalaysia

BCG

DTP 1st dose

DTP 3rd dose

HepB 3rd dose

Hib 3rd dose

MCV

Polio 3rd dose

Tetanus 2nd dose

0% 20% 40% 60% 80% 100%

99%

99%

99%

98%

99%

95%

99%

90%


510 840 hab.

490 200 hab.

510 840 hab.

505 680 hab.

510 840 hab.

510 840 hab.

510 840 hab.

BCG: birth DT: 7 years DTwPHibPolio: 2, 3, 5, 18 months Hep. B: birth, 1, 6 month, health

workers HPV: 13 years Jap. E: 9, 10, 18 months, 5, 8, 11

years Measles: 6 months MMR: 1 year MR: 7 years Oral polio: 7 years Tdap: 15 years Tetanus: 15 years, pregnancy Typhoid: food handlers Yellow fever: travelers to endemic

countries


21• Source: “State of the global Islamic economy”, Thomson Reuters, 2013 - Factors driving halal pharma

market, Ecron Acunova – Smart Pharma Consulting analyses

• Pharmaceutical companies involved in halal medicines and/or vaccines should help the public understand that halal products are not necessarily just food and drinks

Key success factors on the halal vaccines market

Drivers and limiters in the Halal pharmaceutical market

Increasing population of Muslims Rising income among Muslim consumers Increasing demand for Halal pharmaceuticals and vaccines, thus,

huge opportunities for global suppliers as well as niche producers in the pharmaceutical value chain (e.g. companies that produce halal adjuvants)

OIC exporters/producers: many large pharmaceutical companies (eg. Julphar, Eczacıbaşı’s, Hikma, Kalbe Farma, etc.) from OIC countries have the infrastructure and resources to boost the market

Both authorities and NGOs are working to deliver universal access to immunization

Regulations/certifications: – Difference in certification standards and regulations (e.g. in Indonesia,

making mandatory halal regulations for pharmaceuticals is getting industry pushback)

– Certification process and standard may differ from country to country and one certification body to another

Long product development cycles

Controversy on vaccine usage that might be palliated through education, transparency and regulation/compliance

Lack of education and awareness: majority of the consumers (especially in Muslim majority markets) are ambivalent or unaware of non-allowed ingredients in medicine or cosmetics

Emerging competition on the halal vaccines market : Novartis MenA-CWY135 is the first quadrivalent conjugate vaccine and Global Vacc al-shifa’s HiB vaccine have received a halal certification

DRIVERS LIMITERS

22

Measles containing vaccines Hepatitis B vaccines DTP vaccines Hib vaccines BCG vaccines Pneumococcal vaccines Rotavirus vaccines

• Sources: Annual reports 2013 – Evaluate Pharma World Preview 2018 (2013) – Smart Pharma Consulting analyses

•EPI: Expanded Program on Immunization: Bacillus Calmette-Guérin (BCG), diphtheria-tetanus-pertussis (DTP), oral polio, measles, hepatitis B (HepB), yellow fever in countries endemic for the disease, and Haemophilus influenzae meningitis (Hib) conjugate vaccine in countries with

high burden of disease

• Expanded Program on Immunization, pneumococcal and rotavirus vaccines account for USD 14.9 B and 62% of the vaccines market among the top 4 companies

Market sales potential by 2030

Methodology – Analyzed vaccines

Series1

Non-WHO EPI or pneumococcal or

rotavirusUSD 5 176 M

(38%)

WHO EPI + pneumococcal +

rotavirusUSD 12 406 M

(62%)

EPI + pneumococcal + rotavirus vaccines global market:

USD 17.5 B

Non-EPI & non-pneumococcal & non-rotavirus vaccines global

market:USD 10.5 B

Estimated split after the 2013 sales of top 4 manufacturers

Value of the global market by vaccine category in 2013

Analyzed vaccines

Total = USD 28 B

EPI + pneumococcal + rotavirus vaccines global market:

USD 50.2 B

Non-EPI & non-pneumococcal & non-rotavirus vaccines global

market:USD 30.8 B

Value of the global market by vaccine category in 2030

Total = USD 81 B

EPI

Meningococcal vaccines Influenza vaccines Human papillomavirus vaccines Herpes zoster vaccines Adult booster vaccines Travel or endemics vaccines Others

23• Sources: PEW research – United Nations – UNICEF/WHO immunization summary report 2014 – WHO

immunization coverage – Smart Pharma Consulting analyses

• The estimate of the number of doses per year takes into account the % of newborn Muslims p.a., the immunization coverage and the received number of doses


Methodology – Number of doses

Total mus-lim popula-

tion

Top 20 countries in

terms of muslim

population

Number of Muslim new

born per year

1000

820

40

Immunization coverage

for each vaccine in each country

(according to WHO data)

Illustra

tive

Recommended number of doses

for each vaccine in each country (according to

UNICEF & WHO data)

Potential number of doses per year of halal vaccines in the

top 20 Muslim countries

Number of Muslim infants

24• Sources: World Bank – GAVI – PAHO – GERS – Smart Pharma Consulting analyses • ¹ According to PAHO revolving fund director "A country that purchases through the Revolving Fund can save at

least 11% in comparison to direct purchases from the producers”

• Three price categories were chosen to cover the analyzed countries and penetrations rates have been set according to the place of Islam and the % of Muslim in the country


Methodology – Prices & penetration rates

Pharmaceutical expenditures per capita

Low Medium High

UNICEF / GAVI procurement prices

PAHO procurement prices + 11%¹

European prices based on the French case

Prices Penetration rates

Place of Islam in the country

% o

f M

usl

im in

th

e co

un

try

Secular country State religion Islamic

republic

Lo

wM

ed

ium

Saudi Arabia Turkey

AlgeriaChinaEgypt

Indonesia IraqIran

MalaysiaMoroccoSudanSyria

Afghanistan Bangladesh

EthiopiaIndia

NigeriaPakistan

UzbekistanYemen

Hig

h Very high penetration

Very low penetration

Medium penetration

N/A

N/A

N/A

Low penetration

High penetration

Medium penetration

25• Sources: Smart Pharma Consulting analyses

• In 2020, 2 years after the estimated arrival of the first halal vaccines, the considered market is expected to be worth USD 96 million in the top 20 Muslim countries


Halal vaccines market in the top 20 Muslim countries - 2020 T

urke

y

Sau

di A

rabi

a

Pak

istan

Iraq

Egy

pt

Indo

nesia

Mor

occo

Iran

Sud

an

Ban

glad

esh

Afg

hani

stan

Yem

en

Alg

eria

Nig

eria

Indi

a

Mal

aysia

Eth

iopi

a

Syr

ia

Uzb

ekist

an

Chi

na

0

5,000,000

10,000,000

15,000,000

20,000,000

25,000,000

30,000,00026,207,613

19,608,882

9,690,0087,122,820

4,195,6293,926,3713,821,4963,296,9593,035,7572,913,3402,244,4772,222,4031,912,2251,530,7501,014,040915,341 729,768 668,819 654,392 102,148

Halal vaccines market in selected countries: USD ≈ 96 M

BCG DTP & combinations Hepatitis B & combinations Haemophilus influenzae & combinations Measles containing vaccines Polio Pneumococcal Rotavirus

Vaccines considered

Market in USD, million


• In 2030, the considered halal vaccines market is estimated to be worth USD 1.1 billion in the top 20 countries in terms of Muslim population


Halal vaccines market in the top 20 Muslim countries - 2020 T

urke

y

Sau

di A

rabi

a

Pak

istan

Iraq

Egy

pt

Indo

nesia

Mor

occo

Sud

an

Iran

Ban

glad

esh

Yem

en

Afg

hani

stan

Nig

eria

Alg

eria

Indi

a

Mal

aysia

Eth

iopi

a

Syr

ia

Uzb

ekist

an

Chi

na

0

50,000,000

100,000,000

150,000,000

200,000,000

250,000,000

300,000,000284,472,283

216,061,507

121,517,080111,456,104

48,733,59448,047,19245,544,82541,112,57135,821,81634,847,42129,558,02429,333,59924,031,02321,186,78014,011,82210,782,30910,011,7598,789,4337,094,7361,208,720

BCG DTP & combinations Hepatitis B & combinations Haemophilus influenzae & combinations Measles containing vaccines Polio Pneumococcal Rotavirus

Vaccines considered

Market in USD, million Halal vaccines market in selected countries: USD ≈ 1,144 M


• The two countries (Turkey & Saudi Arabia) showing the highest pharmaceutical expenditures count for almost half of the selected halal vaccines market in 2030


Halal vaccines market in the top 20 Muslim countries – 2020 / 2030

2020 20300

200,000,000

400,000,000

600,000,000

800,000,000

1,000,000,000

1,200,000,000

1,400,000,000

20,999,178

270,405,464

28,997,565

372,683,343

45,816,496

500,533,789

High pharmaceutical expendituresMiddle pharmaceutical expendituresLow pharmaceutical expenditures

USD 1 144 m

USD 96 M

Market in USD m


• The extrapolated halal vaccines market could reach USD 188 m in 2020 and USD 2.2 B in 2030


Extrapolated halal vaccines market – 2020 / 2030

Considering that the top 20 countries analyzed account for 82% of the Muslims, the halal market among the total Muslim population is estimated to be worth:

Considering that the analyzed vaccines account for 62% of the total vaccines market, the total halal vaccines market is worth:

2020 2030

2020 2030

USD 188 m USD 2 249 m

USD 116 m USD 1 395 m

Market in USD m

2020 20300

500,000,000

1,000,000,000

1,500,000,000

2,000,000,000

2,500,000,000

188,460,342

2,249,454,360

29• Source: Smart Pharma Consulting

• There is a huge opportunity as the halal vaccines market could reach 2.2 B in 2030 but they would face several hurdles

Conclusion

Key Learning & Recommendations

There is an opportunity to develop halal vaccines as the Muslim population is increasing and so is the demand for halal pharmaceuticals, including vaccines

Both authorities and NGOs are working to deliver universal access to immunization and the halal vaccine could touch population that are under vaccinated or not vaccinated

In 2030, the Halal market could reach approximately USD 2.2 billion, representing a niche on the global preventive vaccines market (approximately 3%) estimated at USD 84 billion

30

Conclusion• There is a huge opportunity as the halal vaccines market could reach 2.2 B in 2030 but they would

face several hurdlesKey Learning & Recommendations

Nevertheless, there would be several hurdles:

– In terms of regulations and certifications complexity

– Due to the long cycle development (10-15 years)

– Due to production and distribution constraints

– And high associated costs (investment required to launch a new vaccine is approximately USD 700 million)

1 October 29, 2014 Dr. Tabassum Khan Global Market Potential for Halal Vaccines.

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Transcript of 1 October 29, 2014 Dr. Tabassum Khan Global Market Potential for Halal Vaccines.