Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Respiratory Disease Vaccine Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The industry is positioned for consistent expansion through 2028, with a compound annual growth rate (CAGR) of 1.18%. With a value estimated at USD 91.80 billion in 2022, the market is driven by several critical factors, including an aging population and the steady implementation of vaccine mandates and recommendations.
Key Drivers Influencing Market Growth
- Rising Elderly Population: Senior citizens are particularly vulnerable to respiratory diseases, thereby fostering demand for vaccines designed to protect this demographic.
- Vaccine Mandates and Recommendations: Governmental and institutional policies mandating and recommending vaccines bolster the adoption and coverage of respiratory disease vaccines.
- Global Immunization Programs: Initiatives by organizations such as the WHO and UNICEF play a central role in expanding vaccine access, especially in regions with limited resources.
Market Challenges Persist
Despite upward trends, the industry continues to face obstacles, most notably vaccine hesitancy exacerbated by misinformation and disruptions within vaccine supply chains. Such challenges necessitate concerted efforts to maintain public confidence and ensure the seamless production and distribution of vaccines.
Market Segmentation Insights
The report delves into the market segmentation, identifying viral vaccines for diseases such as COVID-19 and influenza as the leading contributors to market share in 2022. Hospital and retail pharmacies emerged as the primary distribution channels, signifying their crucial role in accessible healthcare and vaccination efforts.
Regional Market Outlook
The Asia Pacific region commands a substantial share of the market, attributed to its large population and growing healthcare investments. Economic development and increased healthcare spending drive vaccine uptake in the area, particularly among aging populations.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 181 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $91.8 Billion |
| Forecasted Market Value (USD) by 2028 | $98.12 Billion |
| Compound Annual Growth Rate | 1.1% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes:
- GSK plc
- Johnson & Johnson Services, Inc.
- Pfizer Inc.
- Sanofi S.A.
- Serum Institute of India Pvt. Ltd.
- SINOVAC Biotech Ltd.
- Bavarian Nordic A/S
- Merck & Co. Inc.
- AstraZeneca plc
- Moderna Inc.
For more information about this report visit https://www.researchandmarkets.com/r/wd6s8n
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