Dublin, Aug. 09, 2023 (GLOBE NEWSWIRE) -- The "Adult Vaccines Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The global adult vaccine market is expected to witness substantial growth, reaching a projected value of US$ 27.65 Billion by 2028, with a strong compound annual growth rate (CAGR) of 6.01% during 2022-2028.
Vaccines play a crucial role in global public health by curbing infectious disease transmission and potentially eradicating them. The market is witnessing the emergence of numerous new vaccinations addressing diseases such as COVID-19, tuberculosis, malaria, HIV/AIDS, dengue fever, and other disorders. Additionally, preventive injectables for conditions like HIV, cardiometabolic disease, and common cancers are being considered as part of the expanded definition of vaccines.
The increased prevalence of infectious diseases worldwide is a key force driving market expansion. The rise in infectious diseases, such as influenza, hepatitis, and zoster, has led to government campaigns to increase public awareness of immunization.
Furthermore, government partnerships with biotechnology and pharmaceutical firms to develop new vaccines are contributing to the growth of the adult vaccine market. Non-governmental organizations (NGOs) actively promoting adult vaccines are also fueling the demand for adult immunizations. The participation of multiple NGOs throughout the projected period is anticipated to boost the global demand for adult vaccines, as the World Health Organization (WHO) and UNICEF issue guidelines for national vaccination programs.
Every year, at least 10 million deaths occur due to diseases that already have or will soon have adult vaccines and preventive injectable treatments available. Implementing a comprehensive system of adult public-health interventions could significantly reduce these fatalities. With advancements in the development of preventive injectables and vaccines for various diseases, existing infrastructure can be effectively utilized during non-pandemic periods. Implementing a global program for adult vaccination would ensure consistent and predictable demand for these vaccines and injectable therapies, which, in turn, could help offset the costs associated with expanding manufacturing capacity.
A number of game-changing vaccinations are currently in development. For instance, the Centers for Disease Control and Prevention (CDC) issued new influenza vaccination schedules for adults in February 2022. In addition, the Australian Government Department of Health announced that the National Immunization Program (NIP) will cover influenza vaccinations for people who are most vulnerable to influenza virus infection starting in June 2022. As worldwide and domestic public health restrictions relax due to the COVID-19 global pandemic, influenza is likely to resurface, making adult vaccines for influenza even more critical. The Adult Vaccine Market was valued at US$ 19.48 Billion in 2022.
Pneumococcal illness has emerged as the hazard with the quickest rate of growth within the adult vaccine sector.
By Vaccine Type, the adult vaccine market is divided into Influenza, HPV, Zoster, MMR, Pneumococcal, Meningococcal, Hepatitis, Tdap, travel and misc, and varicella. The adult vaccination business has prioritized the development and distribution of potent vaccines due to pneumococcal disease's explosive expansion in the adult population. An older population, more awareness, government initiatives, advancements in vaccine cooperation, and technology within the healthcare sector are just a few of the reasons why the market for pneumococcal vaccines is growing exponentially. As long as this pattern persists, it is crucial to give vaccination efforts top priority and guarantee that everyone has access to shield adults from the catastrophic consequences of pneumococcal illness.
India is now showing the fastest growth in the adult vaccine market.
By Country, the adult vaccine market is broken up into North American countries (Canada, the United States), European countries (the United Kingdom, Germany, France, Russia, Italy, Spain, Switzerland), Asian countries (India, China, Japan, Australia, South Korea), South American countries (Mexico, Brazil, Argentina), M.E.A. countries (Saudi Arabia, the UAE, South Africa), and the rest of the World. India's demand for adult immunizations is growing significantly due to its vast population and growing awareness of healthcare issues. There is a greater emphasis on adult immunization due to the rising burden of infectious illnesses and the necessity for preventive measures.
Adult vaccination campaigns and government measures have raised awareness and made vaccine access easier. Additionally, the distribution and accessibility of vaccines have been enhanced through improvements in healthcare infrastructure and the expansion of healthcare facilities. The increasing middle class, which has more disposable income, has also helped to make adult immunizations more accessible and more widely used.
Influenza-vaccinated populations will grow at a significant CAGR in the upcoming Years.
The Adult Vaccine Market is categorized by Vaccinated Population into Influenza, HPV, Zoster, MMR, Meningococcal, Pneumococcal, Hepatitis, Tdap, and Varicella. Influenza is still a significant public health problem that affects morbidity and death rates globally. Influenza kills between 290 and 650 thousand people annually and affects 5 to 10% of adults worldwide. The increased seasonal influenza incidence and rising vaccination recommendations have led to a positive market outlook for flu vaccines.
During the 2021-22 influenza seasons, approximately 9 million illnesses, 4 million medical visits, 10 thousand hospitalizations, and 5 thousand deaths were linked to influenza, according to the CDC. These figures demonstrate the critical necessity for preventative interventions like immunization.
Governments play a critical role in monitoring demand and conducting vaccination programs globally to satisfy the unmet need for vaccination, working with organizations like the World Health Organization. The Manitoba government increased eligibility for the high-dose influenza vaccination to persons 65 and older in July 2022. This policy was designed to safeguard this age group from potentially lethal illnesses. As a result of such government measures, the worldwide influenza vaccine market is expanding.
Companies Mentioned:
- GlaxoSmithKline plc
- AstraZeneca plc
- Sanofi Pasteur
- Pfizer Inc
- CSL Limited
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 210 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $19.48 Billion |
| Forecasted Market Value (USD) by 2028 | $27.65 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/l2tecn
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