Preventive Vaccines - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Preventive Vaccines market is accounted for $40.80 billion in 2018 and is expected to reach $94.64 billion by 2027 growing at a CAGR of 9.8% during the forecast period. Some of the key factors propelling the market growth include increased funding from government and international organizations, growing prevalence of infectious diseases, rise in investments, initiatives by NGO’s, and innovative technology in vaccine development. However, high cost of vaccine development is restraining the market growth.
Preventative vaccine is administered to a person who is free of the targeted infection, in order to support the body’s immune system against future infections. These vaccines consist of attenuated or killed microbes, or microbial DNA. When administered, the immune system triggers a response that produces antibodies. Various infectious diseases are considered to be the world’s leading causes of death. Scientists of various countries are performing various researches, building laboratories in underdeveloped countries, sharing information, and creating surveillance networks globally in order to control the disease spread through preventive vaccination.
By vaccine type, live/attenuated vaccines contain weakened versions of living microbes, making them ineffective to cause diseases. These vaccines produce a similar, yet weakened reaction, compared to that of natural infections. These vaccines need to be refrigerated to stay potent. In addition, Live/attenuated vaccines for certain viruses are relatively easy to create. Vaccines against measles, mumps, and chickenpox, among others, are designed using this method. Pertaining to the ease of manufacturing, and the ability to generate strong immune responses to the market for live/attenuated vaccines, a steady growth rate is expected during the forecast period.
On the basis of geography, North America is expected to have considerable market growth during the forecast period. In the United States, the Centers for Disease Control and Prevention's (CDC) Advisory Committee for Immunization Practices (ACIP) routinely publishes recommendations for adult and childhood vaccination. The United States has one of the leading healthcare systems in the world and the vaccination coverage, in terms of vaccine inclusion, is at par with the WHO guidelines.
Some of the key players in preventive vaccines market include AstraZeneca PLC, Johnson & Johnson, CSL Limited, Bavarian Nordic, GlaxoSmithKline PLC, MedImmune LLC, Merck and Company, Sanofi Pasteur, Takeda Pharmaceutical Co. Ltd., Mitsubishi Tanabe Pharma Corporation, Daiichi Sankyo Co. Ltd., Emergent BioSolutions, Inc., Novartis AG, and Pfizer, Inc.
Disease Types Covered:
• Measles, Mumps, and Rubella (MMR)
• Cervical Cancer
• Human Papilloma Virus
Vaccine Types Covered:
• Toxoid Vaccines
• Subunit Vaccines
• Inactivated Vaccines
• Live/Attenuated Vaccines
• DNA Vaccines
• Conjugate Vaccines
• Recombinant Vector Vaccines
End Users Covered:
• Adult Vaccines
• Pediatric Vaccines
Product Types Covered:
• Nasal Spray
• Intramuscular Injection
• Intradermal Shot
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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