Portland, OR, June 10, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Diphtheria, Pertussis, and Tetanus (DTP) vaccine market generated $4.75 billion in 2019, and is estimated to reach $7.05 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.

Growth in initiatives taken by pharmaceutical companies to improve vaccine R&D and surge in awareness among the people regarding the advantages of DTP vaccines drive the growth of the global DTP vaccine market. However, high cost associated with development of the DTP vaccine hinders the market growth. On the other hand, government-initiated immunization programs in developing economies are expected to create new opportunities for the market players during the forecast period.

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Covid-19 scenario:

  • According to UNICEF, more than 117 million children in 37 countries are expected to miss out on vaccinations due to the suspension of the vaccination programs in 2020. This would decline the demand for the DTP vaccine.
  • The revenue generated from the pediatric segment is expected to increase during the COVID-19 pandemic due to surge in demand for DTP vaccination to improve the immunity of infants.

The report offers a detailed segmentation of the global DTP vaccine market based on product type, age group,end-user, and region.

Based on product type, the DTaP vaccine (Diphtheria-Tetanus-acellular Pertussis vaccine) segment contributed to the largest share in 2019, accounting for more than three-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the Tdap vaccine (Tetanus and Diphtheria vaccine) segment is estimated to portray the highest CAGR of 5.5% during the forecast period.

Based on age group, the pediatric segment accounted for the largest share in 2019, holding nearly three-fourths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the adult segment is expected to register the highest CAGR of 5.5% from 2020 to 2027.

Based on region, North America contributed the highest share, accounting for more than one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 6.1% from 2020 to 2027.

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Leading market players analyzed in the research include Bionet-Asia, AJ Vaccines, Johnson & Johnson, GlaxoSmithKline plc (GSK), Meiji Holdings Co., Ltd. (KM biologics co., Ltd., Massbiologics, Panacea Biotec Ltd., Merck & Co., Inc., Serum Institute of India Pvt. Ltd., and Sanofi.

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