The rise in the number of reported cases of tetanus and diphtheria in the developing countries will be the major factor influencing the market growth.
Market Size – USD 4.35 Billion in 2018, Market Growth - CAGR of 4.9%, Market Trends – Low costs of vaccines.
NEW YORK, April 15, 2019 (GLOBE NEWSWIRE) -- The global tetanus toxoid vaccine market is expected to reach USD 6.46 Billion by 2026, according to a new report by Reports and Data. This can mainly be contributed by the rise in number of reported cases of tetanus and diphtheria in the developing countries. The low costs of the vaccine, as well as the increasing government initiatives towards technological improvements regarding immunization and vaccination, are also fuelling the growth of the market.
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Several vaccine combinations include the tetanus vaccine such as Diphtheria, Tetanus, and Pertussis (DTaP); Monovalent Tetanus Toxoid (TT); Tetanus, Diphtheria, And Pertussis (Tdap); Diphtheria and Tetanus (DT); and others. DTaP and DT are used as a pediatric vaccine for children less than seven years old while Tdap and Td are given to those who are seven years old and above, where the lowercase, ‘d’ and ‘p’ denote the lower strengths of diphtheria and pertussis vaccines.
The primary factors for the market growth are most active, less expensive and best-tolerated vaccines. The increase in concern and awareness regarding immunization in emerging countries for disease control is fueling the growth of the market. The growth in research & development practices, increased awareness about disease prevention & treatment, as well as improved healthcare expenditure in the developing countries will lead to a positive demand for these vaccines. A large number of products are undergoing clinical trials currently.
Though the market appears promising in the coming years, high costs of R&D, along with strict policies in some of the nations can hinder the growth of the industry. The reduced number of reported cases of tetanus in the developed countries will be another factor that will affect the growth of the market negatively. The acquisition of tetanus vaccination by the UNICEF, WHO and other government initiatives for the prevention and treatment of tetanus are expected to act as opportunities for the global market.
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Further key findings from the report suggest
- The market is segmented on the basis of vaccine type into Diphtheria, Tetanus, and Pertussis (DTaP); Monovalent Tetanus Toxoid (TT); Tetanus, Diphtheria, And Pertussis (Tdap); Diphtheria and Tetanus (DT); and others. DTaP vaccines occupy the highest market share in the year 2018 and are forecasted to maintain its dominance throughout the forecast period, with a CAGR of 5.3%, owing to several initiatives and investments by governments to eradicate these diseases.
- The market is segmented on the basis of age group into adults and pediatrics. The adult segment is forecasted to have a higher growth rate of 6.3% during the forecast period. The demand for Tdap and Td vaccines among adults, particularly Tdap during pregnancy will fuel the need for the tetanus toxoid vaccine in adults.
- The market is segmented on the basis of geography into North America, Europe, Asia Pacific, Latin America, and MEA. North America accounted for the largest share of ~32% of the market in 2018. The region has a well-established and advanced vaccination program and the presence of a large number of market players.
- Key participants include Merck & Co. Inc., GlaxoSmithKline Plc., Sanofi Pasteur, Inc., Pfizer, Inc., Bharat Biotech, AstraZeneca Plc., Valeant Pharmaceuticals, Shenzhen Kangtai Biological Products, Astellas Pharma Inc., Emergent Biosolutions Inc., and Panacea Biotec, among others.
- The companies have adopted various strategies including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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For the purpose of this report, Reports and Data have segmented global tetanus toxoid vaccine market on the basis of vaccine type, dosage, age group, end user, and region:
Vaccine type Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
- Monovalent Tetanus Toxoid (TT)
- Diphtheria, Tetanus, and Pertussis (DTaP)
- Diphtheria and Tetanus (DT)
- Tetanus, Diphtheria, And Pertussis (Tdap)
- Others
Dosage Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Quadrivalent
- Pentavalent
- Hexavalent
Age group Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Paediatric Vaccines
- Adult Vaccines
End users Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Hospitals And Clinics
- Government Organizations
- Research
- Others
Regional Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of APAC
- Latin America
- Brazil
- MEA
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