The vaccine market has experienced significant growth, achieving an impressive compound annual growth rate (CAGR) of 7.50%. Surpassing a milestone, the market's value has now soared past to be US$ 102.97 billion. This surge is attributed to the increasing demand for immunization against infectious diseases, technological advancements in vaccine development, and expanding government initiatives to combat public health challenges worldwide. The market's robust expansion highlights its pivotal role in safeguarding global health and promoting preventive healthcare practices.
The report “Vaccine Market, By Type (Subunit & Conjugate Vaccine, Live Attenuated Vaccine, Inactivated Vaccine, Recombinant Vaccine, Toxoid Vaccine, and Next-generation Vaccine), By Disease Type (Pneumococcal Disease, Diphtheria, Tetanus, & Pertussis (DTP), Influenza, Cancer, Human Papilloma Virus (HPV), and Other Diseases), By Route of Administration (Intramuscular (IM) Vaccine, Subcutaneous Vaccine, Oral Vaccine, Intravenous (IV) Vaccine, and Other Vaccines), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”
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Key Highlights:
• In Aug 2021, Covovax is Serum Institute of India's version of NVX-CoV2373, the protein-based COVID-19 vaccine developed by Novavax, headquartered in US. The vaccine is likely to be supplied at a price of Rs 1,114 per dose.
• In 2021, Hyderabad-based Biological E Limited, which is developing a made-in-India vaccine against the coronavirus disease (Covid-19), is expected to launch the vaccine, Corbevax, by September-end.
The exponential growth of the global vaccine market, marked by an impressive 7.50% CAGR, has garnered the attention of industry analysts worldwide. This upward trajectory has seen the market's value surge beyond the significant to be US$ 102.97 billion threshold. Such growth can be attributed to a combination of factors driving demand for vaccines across the globe.Firstly, the heightened awareness of the importance of preventive healthcare has resulted in an increasing number of individuals seeking immunization against infectious diseases. Additionally, the outbreak of recent pandemics and epidemics has further accentuated the necessity for widespread vaccination, propelling governments and healthcare authorities to prioritize vaccination initiatives.
Competitive Landscape:
The key players operating the global vaccine market involves Abbott Laboratories, Inc., AstraZeneca Plc, BiondVax Pharmaceuticals Ltd., Merck & Co., Inc., Bavarian Nordic, CSL Limited, Daiichi Sankyo Company, Emergent BioSolutions, Inc., GlaxoSmithKline Plc, and Inovio Pharmaceuticals, Inc.The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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