Dublin, Sept. 10, 2024 (GLOBE NEWSWIRE) -- The "Adult Vaccine Market Report, Forecast by Disease, Countries and Company Analysis, 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global adult vaccine market was valued at US$ 20. 59 billion in 2023 and is projected to reach US$ 35.87 billion by 2032 with the compound annual growth rate of 6.36% from 2024 to 2032. A shift in the demography of a population and awareness to preventive measures of health have raised the frequency of adult immunization.
Annually, vaccines could have prevented the deaths of many adults in different parts of the world and greatly affected the world's healthcare systems financially. Vaccine-preventable respiratory diseases like influenza and pneumococcal disease cost the global community more that 23 million years of life due to premature mortality.
Adult vaccines have been widely utilized in the global community owing to increased consciousness of vaccine preventable diseases, increasing population of the aging persons and improvement on public health measures. High levels of vaccination are witnessed among developed nations in North America and Europe; healthcare is well developed and immunizations supported by government.
But there is a shift towards advocate for improved uptake of adult vaccines in the emerging markets where knowledge and availability of vaccines are relatively low. Adult immunizations' goal is to improve the health outcomes of people around the world through vaccine-preventable diseases among adults Ergo they are part of herd immunity, hence curtailing diseases transmission among people curtailing the burden on the health systems.
Growth Factors in the Adult Vaccine Industry
Increasing Awareness of Preventive Healthcare
Increased population of the seniors across the globe is a key driver to the growth of the adult vaccine market. People in their old age become more vulnerable to infections and several other complications due to the deterioration of the immune system. Use of specific vaccines such as the 'adult' vaccines including those meant for respiratory conditions for instance, flu as well as pneumonia has been on the rise among geriatric patients.
The global increase of chronic diseases like, heart disease diabetes, respiratory diseases make it desirable for the vulnerable groups to be vaccinated. One of the main market drivers is the continually increasing number of people of aging population worldwide and the need for comprehensive programs of adult immunization and special vaccines.
Aging Population and Chronic Disease Prevalence
The rising global population of older adults is a significant growth factor for the adult vaccine market. As people age, their immune systems weaken, making them more susceptible to infectious diseases and complications. Vaccines tailored to adults, especially those targeting respiratory illnesses like flu and pneumonia, are increasingly in demand among the elderly.
The prevalence of global chronic conditions such as heart disease, diabetes, and respiratory disorders heightens the need for vaccination in these vulnerable groups. As the aging population expands worldwide, the demand for effective adult immunization programs and tailored vaccines is expected to fuel industry growth.
Government Support: A Pillar of the Adult Vaccine Market
The most important factors affecting the adult vaccines market include government policies /immunization programs. Most of the countries are either administrating or planning to continue a national immunization program that incorporates adult vaccines, especially in the developing countries where the population aging rate is rapidly rising.
Ones the vaccines are available in the market there are some incentives provided by public health organizations and government in way of subsidies and awareness and also through free or low-cost vaccination to increase coverage rates. Other organizations such as the WHO and the CDC also help in recommending and encouraging adult vaccines. They collectively provide a substantial boost to the market growth by making it easier and inviting more and more people to take adult vaccinations.
Asia Pacific: A Key Player in the Adult Vaccine Market
They are demonstrated to be part of the Asia Pacific region that has solidified as a promising market for the adult vaccines, with several countries intensifying their efforts towards healthcare security, and diversification of industry. It has been characterized by an explosive growth of the market. The country called the 'pharmacy of the world' was sending out COVID-19 vaccines to other countries up to May 2022 distributing more than the 60 percent of the global demand for vaccines. They have, both domestic and foreign, triggered a production increase. South Korea and Singapore alone have secured more than $3 billion in the past two years explicitly for vaccines, their research and manufacturing plants.
Global COVID-19 vaccine availability and distribution in 2022 showed that nations are significant to one another in terms of vaccine availability. Australia that has been striving to enhance domestic capacities for production imported over 70 million doses. On the other hand, capitalizing on their manufacturing prowess, India and China supplied 900 million and 750 million doses mainly to Africans and Latin Americas.
For example, in the case of the China-ASEAN Free Trade Agreement, the dynamism in trade in biotech products including vaccines has also been realized. Given that the governments in Asia Pacific countries and the private players have made such investment in the preventive vaccines, the trends show a rosy picture for the preventive vaccines market in the near future.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $20.59 Billion |
| Forecasted Market Value (USD) by 2032 | $35.87 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
Company Analysis: Overview, Key Personnel, Recent Developments & Strategies, Product Portfolio, Recent Product Launches, Revenue
- GlaxoSmithKline, plc.
- AstraZeneca plc
- Sanofi Pasteur
- Pfizer, Inc.
- CSL Limited
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Driver
4.2 Challenges
5. Global Adult Vaccines Market
5.1 Market
5.2 Volume (people)
6. Market & Numbers Share Analysis
6.1 Adult Vaccine Market Share
6.2 By Country Adult Vaccine Market Share
6.3 Adult Vaccinated Population Share
7. Disease wise - Adult Vaccines Market
7.1 Influenza
7.2 Cervical Cancer (HPV)
7.3 Zoster (Shingles)
7.4 MMR (Measles, Mumps, and Rubella Vaccine)
7.5 Pneumococcal
7.6 Meningococcal
7.7 Hepatitis
7.8 TdaP
7.9 Travel and Miscellaneous
7.10 Varicella
8. Disease wise - Numbers of Vaccinated Adults
8.1 Influenza
8.2 Cervical Cancer (HPV)
8.3 Zoster (Shingles)
8.4 MMR
8.5 Pneumococcal
8.6 Meningococcal
8.7 Hepatitis
8.8 TdaP
8.9 Varicella
9. By Country
9.1 North America
9.1.1 United States
9.1.2 Canada
9.2 Europe
9.2.1 United Kingdom
9.2.2 Germany
9.2.3 France
9.2.4 Russia
9.2.5 Italy
9.2.6 Spain
9.2.7 Switzerland
9.3 Asia-Pacific
9.3.1 India
9.3.2 China
9.3.3 Japan
9.3.4 Australia
9.3.5 South Korea
9.4 Latin Africa
9.4.1 Mexico
9.4.2 Brazil
9.4.3 Argentina
9.5 Middle East and Africa
9.5.1 Saudi Arabia
9.5.2 UAE
9.5.3 South Africa
9.6 Rest of the World
10. Porter's Five Forces
10.1 Bargaining Power of Buyers
10.2 Bargaining Power of Suppliers
10.3 Degree of Competition
10.4 Threat of New Entrants
10.5 Threat of Substitutes
11. SWOT Analysis
11.1 Strengths
11.2 Weaknesses
11.3 Opportunities
11.4 Threats
12. Mergers and Acquisitions in the Vaccine Industry
13. Vaccines and Regulator's Interventions
13.1 Making and Meeting Standards of Quality and Safety
13.2 Vaccine Funding
14. Vaccines - Products and Pipeline
14.1 GSK Vaccine Product Pipeline
14.2 AstraZeneca plc Vaccine Product Pipeline
14.3 Sanofi Vaccine Product Pipeline
14.4 Pfizer Vaccine Product Pipeline
For more information about this report visit https://www.researchandmarkets.com/r/4jl8bd
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