Pune, March 30, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider's report, the worldwide size of Toxoid Vaccine Market reached a value of USD 5.61 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% between 2023 and 2030, ultimately reaching a worth of USD 8.22 billion.
Market Overview
Toxoid vaccines are particularly useful in the prevention of diseases caused by bacterial toxins, such as diphtheria and tetanus. These diseases can cause serious health complications and even death, making toxoid vaccines an essential tool for protecting public health. Toxoid vaccines are administered in a similar way to other vaccines, typically through injection.
Market Analysis
The toxoid vaccine market is experiencing significant growth due to a variety of factors. One of the major drivers is the increase in the prevalence of diseases, which has led to an increased demand for vaccines. Additionally, the presence of immunization programs and advances in technology have made it easier to develop and distribute vaccines, further fueling market growth. Another key factor is the rise of emerging markets, which have created new opportunities for companies in the vaccine industry. These markets offer untapped potential for growth, as well as the chance to reach a larger population in need of vaccinations.
Major Key Company Profiles Listed in this Report Are:
The major key players are Sanofi S.A., Serum Institute of India Pvt. Ltd., Panacea Biotec, Biological E Limited, GlaxoSmithKline, Merck & Co. Inc., Astellas Pharma Inc., Bharat Biotech, Dano Vaccines, Abbott.
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Impact of Russia-Ukraine Conflict
The Russia-Ukraine conflict has had a significant impact on the toxoid vaccine market, with both countries experiencing challenges in the production and distribution of these critical vaccines. It is essential for both countries to find a peaceful resolution to the conflict to ensure that the healthcare systems can function effectively and provide necessary medical supplies to the population.
Key Regional Developments
The toxoid vaccine market is seeing a significant impact from regional trends, with North America currently in dominating place. This is due to a number of factors, including a highly developed healthcare system with refined healthcare expenditure, increased patient awareness, and a high prevalence of infectious diseases in the region. These conditions have created a high demand for vaccines and have fueled market growth. However, Europe is also expected to experience significant growth in the market. The region has been investing heavily in immunization programs and technology, which is expected to increase the availability and effectiveness of vaccines.
Toxoid Vaccine Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 5.61 Bn |
| Market Size by 2030 | US$ 8.22 Bn |
| CAGR | CAGR of 4.9% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Toxoid Vaccine Market: Key Segmentation | • By Disease (Tetanus, Diphtheria, Pertussis) • By Composition (DtaP, DT, Tdap, Monovalent TT, Td) • By End-User (Hospitals, Specialty, Governments Organization, Others) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
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Key Takeaway from Toxoid Vaccine Market Study
- In recent years, the demand for tetanus toxoid vaccines has increased significantly, and the market has seen significant growth in the tetanus toxoid vaccine segment. This can be attributed to the growing awareness among people about the importance of vaccination and the increasing prevalence of tetanus in many parts of the world.
- The hospital segment is expected to drive a high share in the market due to several factors. Hospitals are the primary healthcare providers for a large population, especially in developing countries where healthcare infrastructure is limited. Hospitals also play a critical role in providing vaccines to the public and are responsible for administering vaccines to patients.
Recent Developments Related to Toxoid Vaccine Market
- Boostrix, a vaccine used to prevent pertussis (also known as whooping cough), has been approved for use during pregnancy in order to protect newborn infants from this highly contagious and potentially dangerous disease. Pertussis can cause severe coughing fits that can lead to complications such as pneumonia, seizures, brain damage, and even death, particularly in young infants who have not yet received their full series of vaccinations.
- ILiAD Biotechnologies has recently announced the publication of the results of its Phase 2b clinical trial of the BPZE1 vaccine for adults in The Lancet. The BPZE1 vaccine is a novel vaccine that is designed to protect against the respiratory pathogen Bordetella pertussis, which is the causative agent of whooping cough.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Toxoid Vaccine Market Segmentation, By Disease Type
9. Toxoid Vaccine Market Segmentation, By Composition
10 Toxoid Vaccine Market Segmentation, By End User
11. Regional Analysis
12 Company Profile
13. Competitive Landscape
14. Conclusion
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