New York, United States, May 13, 2024 (GLOBE NEWSWIRE) -- The Global Preventive Vaccines Market Size is to Grow from USD 88.34 Billion in 2023 to USD 101.22 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 1.37% during the projected period.
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Preventive vaccines use antibodies created during prevention immunization to destroy bacteria or viruses in human bodies. Antibodies boost the body's ability to fight infections. According to the World Health Organization (WHO), immunizations save 3.1 million lives each year, but another 1.5 million are lost due to a lack of vaccination campaigns, illustrating the importance of vaccines and their contribution to global health. Herd immunity can be achieved if enough children and adults get vaccinated against a disease. The global preventive vaccinations market is expanding as a result of rising infectious disease prevalence, improved vaccine research technologies, more government and international aid, and increased awareness of preventative care. However, vaccine development demands large investments in R&D and cutting-edge production facilities. Furthermore, it necessitates specialized information that is not readily available. Achieving success is a rare occurrence, posing significant obstacles for businesses seeking financial support to continue operations.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Preventive Vaccines Market Size, Share, and COVID-19 Impact Analysis, By Type (Inactivated Vaccines, Live Attenuated Vaccines, Subunit, Conjugate Vaccines, Others), By Disease Indication (Influenza, Pneumococcal, Covid- 19, Hepatitis, Polio, Measles, Mumps, Rubella (MMR), Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The live attenuated vaccines segment dominates the market with the largest revenue share over the anticipated timeframe.
Based on the type, the global preventive vaccines market is segmented into inactivated vaccines, live attenuated vaccines, subunit, conjugate vaccines, and others. Among these, the live attenuated vaccines segment is dominating the market with the largest revenue share over the anticipated timeframe. In live attenuated vaccines the pathogen is still alive, but it has been modified so that it can stimulate an immune response without causing infection. In general, these vaccinations elicit more robust and diverse immune responses than inactivated (killed pathogen) immunizations.
The polio segment is witnessing significant CAGR growth over the anticipated timeframe.
Based on the disease indication, the global preventive vaccines market is segmented into influenza, pneumococcal, covid- 19, hepatitis, polio, measles, mumps, rubella (MMR), and others. Among these, the polio segment is witnessing significant growth over the anticipated timeframe. Polio spreads primarily through the fecal-oral pathway, and in severe cases, it can cause paralysis and death. The introduction of polio vaccinations, particularly the inactivated polio vaccine (IPV) and the oral polio vaccine (OPV), marked a turning point in public health.
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North America dominates the market with the largest market share over the anticipated timeframe.
North America is dominating the market with the largest market share over the anticipated timeframe. The National Advisory Committee on Immunization in Canada is in charge of advising public health professionals on newly licensed vaccines. The Canadian Immunization Guide (CIG) is based on the national advisory committee's recommendations and other factors. The group also focuses on conducting public vaccination programs to prevent the spread of deadly infections.
Asia Pacific is expected to grow the fastest during the anticipated timeframe. Government and non-governmental groups have expanded their investments in vaccine research and development. Increased government financing for immunization programs, such as the Universal Immunization Program, is growing the sector in the region. The Universal Immunization Program aims to prevent diseases such as smallpox, polio, and measles. Asia Pacific is predicted to experience a large market expansion as the patient population grows.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global preventive vaccines market are Novavax Inc., Daiichi Sankyo Company Limited, GSK PLC, Sanofi, Johnson & Johnson, Merck & Co., Takeda Pharmaceutical Co. Ltd, AstraZeneca PLC, Emergent BioSolutions Inc., and others.
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Recent Developments
- In August 2023, The U.S. Food and Drug Administration (FDA) has licensed a bivalent RSV prefusion F vaccination. It helps protect infants at birth through six months of life from lower respiratory tract disease (LRTD) and severe LRTD due to RSV. This can be accomplished by actively immunizing pregnant women between 32- and 36-weeks’ gestation. ABRYSVO, which is unadjuvanted and made up of two preF proteins selected to maximize protection against RSV A and B strains, is both safe and effective.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global preventive vaccines market based on the below-mentioned segments:
Global Preventive Vaccines Market, By Type
- Inactivated Vaccines
- Live Attenuated Vaccines
- Subunit
- Conjugate Vaccines
- Others
Global Preventive Vaccines Market, By Disease Indication
- Influenza
- Pneumococcal
- Covid- 19
- Hepatitis
- Polio
- Measles
- Mumps
- Rubella
- Others
Global Preventive Vaccines Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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