Selbyville, Delaware, March 07, 2019 (GLOBE NEWSWIRE) --
The vaccines market is estimated to hike from over USD 38 billion in 2018 to over USD 70 billion by 2025, according to a 2019 Global Market Insights, Inc. report. Introduction of innovative technologies in vaccination, rising government support for product development will stimulate the market growth over the coming years. Growing awareness towards preventive vaccination in pediatric and increasing adoption of therapeutic vaccines in cancer treatment will fuel industry growth.
Increasing disease prevalence in underdeveloped countries coupled with growing incidence of cancer & HIV will serve as high impact rendering factor for the business growth. High cost and inadequate reimbursement coverage for vaccines will hamper industry expansion. Moreover, stringent government regulations for product approval will further restrain the vaccines market growth.
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Pediatric segment will witness 9.1% CAGR during the forecast timeframe owing to CDC recommendation for immunization schedule to protect children and infants before getting exposed to potentially life-threatening diseases.
Attenuated vaccines technology segment accounted for more than 20% vaccines market share in 2018 and is estimated to grow significantly over the coming years due to factors such as robust antibody and cellular responses, and frequently deliberate lifelong immunity with only one or two doses.
Influenza disease segment will witness considerable growth to reach USD 6.1 billion by 2025 due to growing incidence, mounting number of disease-causing microbes (pathogens) and rising awareness in emerging economies towards disease prevention. Availability of vaccines at affordable prices in hospitals and clinics will augment the segment growth.
Browse key industry insights spread across 192 pages with 216 market data tables & 9 figures & charts from the report, “Vaccines Market Size By Age Group (Pediatric, Adult), By Technology (Conjugate, Attenuated, Inactivated, Recombinant, Toxoid), By Disease (Cancer, Hepatitis, Pneumococcal Disease, DTP, Dengue, Influenza, Human Papilloma Virus, Meningococcal Disease, Polio, Rotavirus), Regional Outlook (U.S., Canada, Germany, UK, Spain, Russia, Italy, France, China, Japan, India, South Korea, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Qatar, Egypt), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/vaccines-market
U.S. vaccines market dominated industry in 2018 by accounting for over 35% market share of global market owing to enormous impact of immunization on improving health of children and protecting them with vaccines due to epidemics of preventable diseases like mumps, pertussis, and measles.
China vaccine market will grow at a substantial rate owing to rising disposable income, rapid economic growth, rising number of unvaccinated migrant workers, and delivery of efficient healthcare services. Brazil market will grow due to availability of vaccines at low cost and rising initiatives by Brazilian government to improve vaccination coverage will stimulate steady business expansion.
Some of the companies operating in the vaccines market are Abbott, AstraZeneca, Astellas Pharma, Bristol-Myers Squibb, CSL, Emergent BioSolutions, GlaxoSmithKline, Johnson & Johnson, Merck, Novartis, Novavax, Pfizer and Sanofi Pasteur. New product launches and expansion of existing product portfolio will mainly drive the business growth. Major industry participants will endeavor to fortify their market position by adopting these strategies.
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About Global Market Insights
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.