New York, USA, June 28, 2022 (GLOBE NEWSWIRE) -- The Global Vaccines Market is Expected to Showcase a Significant Growth at a CAGR of 9.34% by 2027 | DelveInsight
The vaccines market is anticipated to grow owing to the increasing prevalence of various indications such as cancers, infectious diseases among others across the globe. Another prominent factor in the high uptake of vaccines is the growing focus on reducing childhood morbidity and mortality rates. In addition to the factors mentioned above, the development of newer innovative vaccines is also expected to play a key role in establishing an upward growth trend in the vaccines market during the forecast period from 2022 to 2027.
DelveInsight's Vaccines Market Insights report provides the current and forecast market, forthcoming device innovation, individual leading companies market shares, challenges, vaccines market drivers, barriers, and trends, and key vaccines companies in the market.
Key Takeaways from the Vaccine Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global vaccines market during the forecast period.
- The leading Vaccines companies such as GlaxoSmithKline, Serum Institute of India, Bharat Biotech, AstraZeneca, Bavarian Nordic A/S, BioNTech, Sanofi, Merck & Co., Inc, Pfizer Inc, Moderna, Mitsubishi Chemical Holdings Corporation, EMERGENT, CSL Limited, Janssen Global Services, VBI Vaccines Inc., Valneva SE., SEQIRUS, Novavax, and several others are currently working in the Vaccines market.
- In February 2022, the Medicines and Healthcare products Regulatory Agency (MHRA) of the United Kingdom granted the regulatory approval to Novavax for their COVID-19 vaccine Nuvaxovid.
- In October 2021, the World Health Organization announced the recommendation of the first malaria vaccine for children- Mosquirix, which was considered a breakthrough by the U.N. agency as a "historic moment."
- In October 2021, Seqirus received regulatory approval from the FDA for their FLUCELVAX® QUADRIVALENT (Influenza Vaccine), which is the company's cell-based quadrivalent influenza vaccine, for an expanded age indication for children as young as six months old.
- Thus, owing to such developments in the market, rapid growth will be observed in the vaccines market during the forecast period.
To read more about the latest highlights related to vaccines, get a snapshot of the key highlights entailed in the Global Vaccine Market Report
A vaccine is a biological substance designed to protect humans from infections caused by bacteria and viruses. Vaccines are the most effective and cost-efficient way to safeguard billions of people worldwide. Vaccine development has the potential to improve health by reducing the burden of life-threatening infectious diseases in affluent populations. According to the World Health Organization (WHO), immunization awareness and government measures have helped avert 2-3 million deaths annually. Greater investments, combined with company mergers and partnerships, are improving worldwide product production and sales.
Vaccines Market Insights
Geographically, the global vaccines market is studied for North America, Europe, Asia-Pacific, and the Rest of the World. In terms of the largest market share, North America is expected to amass a significant revenue share in the global vaccines market during the forecast period. This can be ascribed to the high prevalence of cancers and extensive vaccination programs being conducted in the region, particularly in the United States. Furthermore, high disposable income, sophisticated healthcare infrastructure, and an extensive focus on therapy development are other factors that act as supportive factors for North American vaccines market growth. However, the superiority of North America will be majorly challenged by the European market.
Further, the Asia Pacific region has the future potential for growth of the vaccines market. This can be attributed to the high prevalence of infectious diseases that primarily affect the pediatric population.
To know more about why North America is leading the market growth in the vaccines market, get a snapshot of the Vaccine Market Trends
The global vaccines market is expected to witness appreciable growth owing to the growing demand for vaccines due to the rising prevalence of various diseases such as infectious diseases and cancers among others resulting in the demand for vaccines for both prophylactic and therapeutic use. Moreover, the extensive focus on reducing childhood morbidity and mortality rates due to preventable diseases in children is another prominent factor responsible for the growth of the vaccines market.
However, vaccine hesitancy in a certain section of people may prove to be a challenging factor for vaccines market growth.
Moreover, the vaccines market was slightly impacted by implementing measures to curb the spread of the COVID-19 infection. In order to cater to the exigency created by the COVID-19 pandemic, all other medical specialties witnessed a reduction in patient load. For instance, the pandemic caused a disruption in the immunization programs run by various international organizations such as the United Nations Children’s Fund (UNICEF), Pan American Health Organization (PAHO), and WHO, among other organizations. Nevertheless, the vaccine market is on a period of recovery owing to the development and approval of COVID-19 vaccines and the resumption of regular immunization programs across the globe, thereby presenting a positive future outlook for the vaccine market during the forecast period from 2022-2027.
Get a sneak peek at the vaccines market dynamics @ Vaccines Market Dynamics Analysis
Scope of the Vaccines Market Report
- Coverage: Global
- Study Period: 2019–2027
- Market Segmentation By Type: Inactivated Vaccines, Live-Attenuated Vaccines, Subunit Vaccines, Recombinant Vaccines, Messenger Rna Vaccines, Toxoid Vaccines, Viral Vector Vaccines, and Others
- Market Segmentation By Indication: Cancers, Infectious Diseases, Autoimmune Diseases, and Others
- Market Segmentation By Age Groups: Adults and Pediatrics
- Market Segmentation By Distribution Channel: Hospitals & Clinics, Vaccination Centers, and Others
- Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Key Vaccines Companies: GlaxoSmithKline, Serum Institute of India, Bharat Biotech, AstraZeneca, Bavarian Nordic A/S, BioNTech, Sanofi, Merck & Co., Inc, Pfizer Inc, Moderna, Mitsubishi Chemical Holdings Corporation, EMERGENT, CSL Limited, Janssen Global Services, VBI Vaccines Inc., Valneva SE., SEQIRUS, Novavax, among others
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
DelveInsight Analysis: The Vaccines market size is expected to grow at a CAGR of 9.34% to reach about USD 116.63 billion by 2027.
Which MedTech key players in the vaccines market are set to emerge as the trendsetter explore @ Top Vaccine Companies
Table of Contents
|3||Regulatory and Patent Analysis|
|4||Key Factors Analysis|
|5||Porter’s Five Forces Analysis|
|6||COVID-19 Impact Analysis on Vaccines Market|
|7||Vaccines Market Layout|
|8||Global Company Share Analysis – Key 3-5 Companies|
|9||Vaccines Market Company and Product Profiles|
Interested in knowing the vaccines market by 2027? Click to get a snapshot of the Vaccine Market Outlook
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