Selbyville, Delaware, June 03, 2021 (GLOBE NEWSWIRE) --
According to latest report “Vaccines Market by Age Group (Pediatric, Adult), Disease (Cancer, Hepatitis, Pneumococcal Disease, DTP, Dengue, Influenza, Human Papilloma Virus, Meningococcal Disease, Polio, Rotavirus, COVID-19), Technology (Conjugate, Live, Inactivated, Recombinant, Toxoid), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of vaccines will cross $ 83.5 billion by 2027. Increasing burden of infectious diseases and fatal chronic conditions will create demand for effective vaccines.
Infection of population by coronavirus and outbreak of several waves of the infection has propelled the market players to develop innovative vaccine therapy against COVID-19. Various companies and research institutes across the globe have come forward to make effective vaccine. Moreover, regulatory bodies, government and vaccine alliances have come ahead for speedy approval, effective distribution and supply of these vaccines without hurdles. Thus, high demand for COVID-19 vaccines and product launch will stimulate the market growth significantly during the forecast period.
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Increasing incidence of human immunodeficiency virus (HIV) infection will provide growth opportunities to the vaccines market. HIV is highly prevalent in countries an of APAC and Africa. The infection leads to severity and is huge cost burden. Furthermore, HIV hampers the patient’s quality of life and hence timely vaccination is necessary. With changing structure of the virus, the need for development of effective vaccine becomes vital for manufacturers, thereby providing the market expansion.
Adult vaccine segment accounted for more than USD 15 billion in 2020. Growing product pipeline with increasing R&D to develop effective vaccines for range of infectious diseases including HIV and hepatitis will offer unprecedented segment growth opportunities. Additionally, increasing occurrence of cancer in adult population will drive the demand for cancer vaccines. Thus, improved outcomes and highly efficient targeted treatment offered with vaccines will foster the segment expansion.
DTP segment in the vaccines market exceeded USD 2.5 billion in 2020. Improving immunization rates globally including middle as well as lower income countries will continue to fuel the product demand. According to the World Health Organization, approximately 85% infants received 3 doses of DTP vaccine across the globe in 2019. Moreover, during the same year about 125 countries reached minimum 90% coverage of DTP vaccination. Government initiatives to create awareness and expand vaccination rate will impel the segment demand in the coming years.
Conjugate vaccines segment captured 40% of the market share in 2020 owing to its advantage of improved memory and immune response. Ability of conjugate vaccines in elicitation of immunological memory and reduction of asymptomatic bacterial carriage results in herd immunity. Its efficiency in protection against pneumococcal diseases further boosts demand for vaccines. Pneumococcal conjugate vaccines prevent almost seven types of bacterial infections leading to decreased number of patients.
Asia Pacific vaccines market size is anticipated to proceed at rapid pace during forecast timeframe. The regional growth is attributable to expansion of vaccine business by leading international players in the region. Highly populous countries such as China and India offer broader customer base to the market participants. Further, local manufacturers are also collaborating with global companies to cater to regional demand that will strengthen the revenue growth.
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Major companies operating in the vaccines market include Pfizer, GlaxoSmithKline (GSK), AstraZeneca, Merck and Sanofi Pasteur among others. Industry leaders are undertaking various strategies such as the partnerships and collaboration to increase their geographical reach. Firms are making agreements for distribution and supply of their patented vaccines that help them to cater to greater customers and thereby augment business growth and market footprint.
Table of Contents (ToC) of the report:
Chapter 3 Vaccines Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls and challenges
3.4 Growth potential analysis
3.4.1 By age group
3.4.2 By disease
3.4.3 By technology
3.5 COVID-19 impact analysis
3.6 Technology landscape
3.7 Regulatory landscape
3.8 Pipeline analysis
3.9 Reimbursement scenario
3.10 Porter’s analysis
3.11 Company matrix analysis, 2020
3.12 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/vaccines-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.