NEW YORK, United States, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Adult Vaccines Market By Vaccine (Varicella, Influenza, Human Papillomavirus, Tetanus, Measles, Zoster, Pneumococcal, And Others), By Vaccine Type (Monovalent Vaccines And Multivalent Vaccines), By End-User (Private Healthcare Firms And Government Hospitals), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the global adult vaccines market size was valued at around USD 20 billion in 2022. The market is expected to grow above a CAGR of 6.03% and is anticipated to reach over USD 30 billion by 2030.”
Adult Vaccines Market Overview:
Vaccination is extremely important for public health because it enhances the immune system. Aside from this, vaccination is the primary method for preventing diseases in neonates, children, and adults to reduce mortality and illness. Additionally, vaccination is an effective method for preventing the extinction of lethal diseases. Vaccination is an integral component of global public health programs.
According to the NCBI, vaccine-preventable diseases kill a significant number of adults in countries like the United States each year. Moreover, according to the CDC, adults must receive an annual influenza vaccination, as this vaccine is required for those with chronic illnesses, the elderly, and expectant women. According to CDC recommendations, adults who have never received the Tdap (Tetanus, Diphtheria, and Pertussis) vaccine must be vaccinated once in order to be protected against whooping cough. Additionally, adults receive a Td (tetanus, diphtheria) supplemental vaccination every 10 years. In addition, it is recommended that expectant women receive the Tdap vaccine every 27 to 36 weeks during pregnancy.
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If not vaccinated in early adolescence, the CDC also recommends the HPV vaccine for adults between the ages of 19 and 26. This vaccine protects against human papillomaviruses that cause anal and cervical malignancies, as well as genital warts. In addition, adults over the age of 50 are advised to receive vaccinations for shingles, pneumococcal polysaccharide, which offers protection against meningitis and other blood infections, and pneumococcal conjugate, which offers protection against pneumonia and pneumococcal disease. According to the NCBI, vaccination against zoster, measles, hepatitis A, rubella, mumps, hepatitis B, and Haemophiles influenza B is also recommended for adults.
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Key Insights from Primary Research
- As per the analysis, the adult vaccines market share is likely to grow above a CAGR of around 6.03% between 2023 and 2030.
- The adult vaccines market size was worth around USD 20 billion in 2022 and is estimated to hit approximately USD 30 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The global adult vaccines market is anticipated to record massive growth over the forecast period owing to rising associations of the government with pharmaceutical & biopharmaceutical firms for developing novel vaccines.
- In terms of vaccine, the influenza segment is slated to register the fastest CAGR over the analysis period.
- On the basis of vaccine type, the multivalent vaccines segment is predicted to dominate the segmental surge over the forecast period.
- Region-wise, the European adult vaccines market is projected to register the highest CAGR during the assessment timeline.
Competitive Players:
The report contains qualitative and quantitative research on the global adult vaccines market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global adult vaccines market include;
- Solvay Pharmaceuticals
- Moderna
- BioCSL (Seqirus)
- Aventis Pasteur
- Sanofi Pasteur
- Pfizer Inc.
- Merck & Co. Inc.
- GlaxoSmithKline Plc
- Novartis AG
- Johnson & Johnson
- BioNTech
- Bharat Biotech International Limited
- Zhifei
- Wyeth Vaccines
- AstraZeneca Plc
- Medimmune
- Sinovac
- Baxter International Healthcare Company
- Chiron Vaccines
- Serum Institute of India.
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Adult Vaccines Market: Growth Factors
- Growing in infectious disease incidence will bolster global market growth by 2030
The increasing prevalence of contagious diseases among adults and the rise in government initiatives supporting vaccine development for adults will stimulate the global adult vaccines market. In addition, expanding government partnerships with pharmaceutical and biopharmaceutical companies for the development of novel vaccines will stimulate market expansion in the coming years. In addition, a biomedical breakthrough is anticipated to pave the way for the expansion of the global market in the coming years. In addition, an increase in new product launches and collaborations between industry actors and the government will contribute to the global expansion of the market in the coming years.
Adult Vaccines Market: Restraints
- A lack of understanding of the advantages of adult vaccination in emerging economies may hinder the growth of the global industry.
Lack of awareness about adult vaccines in emerging economies, remote regions, and rural areas can hinder the growth of the global adult vaccines industry. In the upcoming years, a rise in the upfront costs of the products may further impede the expansion of the global industry. The lack of effective reminder systems and implementation obstacles, such as the requirement for special refrigerators for the storage of adult vaccines, can impede the expansion of the global industry.
Adult Vaccines Market: Segmentation Analysis
The global adult vaccines market is sectored into vaccine, vaccine type, end-user, and region.
In vaccine terms, the global adult vaccines market is segregated into varicella, influenza, human papillomavirus, tetanus, measles, zoster, pneumococcal, and others segments. In addition to this, the influenza segment, which accumulated nearly 55% of the global market share in 2022, is projected to register the highest gains in the years ahead.
Based on the vaccine type, the global adult vaccines industry is bifurcated into monovalent vaccines and multivalent vaccines segments. In addition to this, the multivalent vaccines segment, which contributed remarkably towards the global industry share in 2022, is expected to establish global industry domination in the years to come. On the basis of end-user, the global adult vaccines market is divided into private healthcare firms and government hospitals segments.
Regional Analysis:
- North America holds a significant portion of the global market during the period
The North American region, which accounted for more than 60 percent of the global market for adult vaccines in 2022, is anticipated to dominate the global market revenue share from 2023 to 2030. In countries such as Canada and the United States, the prevalence of viral infections among the adult population may increase during the assessment period, which could affect the growth of the regional market.
In addition, the market for adult vaccines in Europe is anticipated to record the highest CAGR over the forecast period. The primary growth drivers of the industry in Europe include an increase in adult vaccination recommendations from the majority of EU (European Union) nations.
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 20 Billion |
| Market Forecast in 2030 | USD 30 Billion |
| Growth Rate | CAGR of 6.03% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Solvay Pharmaceuticals, Moderna, BioCSL (Seqirus), Aventis Pasteur, Sanofi Pasteur, Pfizer Inc., Merck & Co. Inc., GlaxoSmithKline Plc, Novartis AG, Johnson & Johnson, BioNTech, Bharat Biotech International Limited, Zhifei, Wyeth Vaccines, AstraZeneca Plc, Medimmune, Sinovac, Baxter International Healthcare Company, Chiron Vaccines, and Serum Institute of India. |
| Segments Covered | By Vaccine, By Vaccine Type, By End-User, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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Recent Industry Developments:
- In May 2023, GSK plc declared that the U.S. FDA approved Arexvy, the first respiratory syncytial virus (RSV) vaccine for the adult population aged 60 and more, for preventing lower respiratory tract ailment occurring due to respiratory syncytial virus in people aged 60 years and above.
- In January 2022, nearly 29 of the 30 nations of the EU recommended a vaccine for influenza. Furthermore, 21 of the EU nations recommend vaccination for pneumonia while 19 of the EU countries recommend vaccination for tetanus. Moreover, 7 of the EU nations have recommended vaccination for herpes zoster.
The global adult vaccines market is segmented as follows:
By Vaccine
- Varicella
- Influenza
- Human Papillomavirus
- Tetanus
- Measles
- Zoster
- Pneumococcal
- Others
By Vaccine Type
- Monovalent Vaccines
- Multivalent Vaccines
By End-User
- Private Healthcare Firms
- Government Hospitals
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key questions answered in this report:
- What is the market size and growth rate forecast for Adult Vaccines industry?
- What are the main driving factors propelling the Adult Vaccines Market forward?
- What are the leading companies in the Adult Vaccines Industry?
- What segments does the Adult Vaccines Market cover?
- How can I receive a free copy of the Adult Vaccines Market sample report and company profiles?
Key Offerings:
- Comprehensive analysis of the primary market
- Significant alterations in market dynamics
- The market's segment specifications
- Statistics and revenue market analysis of historical, present, and forecast
- Evaluation of niche developments in the market
- Market share evaluation
- Principal strategies of market leaders
- Emerging markets and regional segments
- In order to strengthen the market position of businesses, testimonials are provided
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