San Francisco, 11
April , Vaccine
Market Analysis By Type (Live Attenuated Vaccines, Inactivated Vaccines,
Subunit Vaccines, Toxoid Vaccines, Conjugate Vaccines, DNA Vaccines), By
Application (Infectious Diseases, Cancer, Autism, Allergy) And Segment
Forecasts To 2024.
The global vaccine market valuation is expected to
exceed USD 77.5 billion by 2024, according to a new report by Grand View
Research, Inc. Development of various molecules to cater to the growing demand
for vaccines can drive market demand. Majority of the key players are focused
on vaccine development to gain an edge over competitors. For instance, Pfizer,
Inc., is developing vaccines for Clostridium difficile, Staphylococcus aureus,
and Meningococcal B.
Furthermore, the broad
coalition of governments, worldwide, working to promote the awareness of
vaccination benefits through immunization programs with the objective of
containing the propagation of communicable diseases that are associated with
high morbidity and mortality is expected to stimulate the market growth.
For instance, the ‘Immunize
Australia Program’ sponsors the immunization of individuals, which acts as a
preventative action in preventing disease occurrence and checks rampant disease
transmission thus protecting millions of Australians from severe diseases.
Another program that has been involved in achieving extensive immunization
coverage on the Indian continent is the National Immunization Program, a
government program that has focused on taking strong preventive measures to
offset vaccine-preventable diseases, particularly in children.
Access Full Research
Report On Vaccine Market Analysis:
Further key findings from the study suggest:
·
The inactivated vaccine type
segment was estimated to have over 14.5% market share in 2015 owing to the
related advantages including easy storage and transport due to the highly
stable nature of these vaccines. In December 2015, Sanofi Pasteur, Inc.
launched a new trivalent, inactivated polio vaccine in India.
·
The DNA vaccine segment is
presumed to be the fastest growing type over the forecast period owing to the
ease of production compared to the cell-based vaccines and the promising,
targeted immunization outcomes coupled with the continual developments in the
biotechnology area. Other advantages associated are ease of production, long
lasting immunogenicity, and no risk of reversion.
·
The cancer application segment
is expected to witness the fastest growth with a CAGR of over 11.8% in the
vaccinations market majorly attributable to the need for immunization against
cancer coupled with the increasing prevalence of various types of cancer, such
as cervical and colorectal cancers.
·
North America dominated the
market in terms of revenue with over USD 12 billion in 2015, due mainly to the
presence of extensive research and development activities and the existence of
key participants of the industry in this region
·
Asia Pacific is identified to
witness a lucrative growth with a CAGR of around 10.7% during the forecast
period due to the growing population base and the increasing economic growth of
countries, such as China, Japan, and India. Moreover, the availability of
skilled labors at a lower cost and the low manufacturing operations cost
provide a platform for clinical trial outsourcing of the vaccinations under
development to expedite commercialization.
·
Leading players in this
industry, among others are, Merck & Co., Inc., Emergent BioSolutions, Inc.,
Johnson and Johnson, Sanofi Pasteur, Inc., Pfizer, Inc., Novartis AG, CSL Ltd.,
and GlaxoSmithKline Plc. Other prominent players include Abbott Laboratories,
Inc., AstraZeneca plc, Janssen Pharmaceuticals, Inc., Takeda Pharmaceuticals
Company Ltd., and Valeant Pharmaceuticals International, Inc.
·
In April 2016, VBI vaccines,
Inc. entered into a collaborative agreement with Sanofi Pasteur, Inc. to employ
its “Lipid Particle Vaccine” formulation technology to better the stability of
the Sanofi vaccines.
Browse More Reports Of This Category By
Grand View Research At: https://www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has segmented the
global vaccines market on the basis of type, application, and region:
Global Vaccines Market By Type
(Revenue, USD Million, 2013 - 2024)
·
Inactivated vaccines
·
DNA vaccines
·
Attenuated vaccines
·
Subunit vaccines
·
Conjugate vaccines
·
Toxoid vaccines
·
Others
Global Vaccines Market By
Application (Revenue, USD Million, 2013 - 2024)
·
Infectious diseases
·
Cancer
·
Autism
·
Allergy
·
Others
Vaccines Market By Region
(Revenue, USD Million, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
·
MEA
o
South Africa
Access Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-vaccine-market
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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