New York, United States, Mon, 31 Jul 2023 06:45:45 / Comserve Inc. / -- Research Nester published a report titled “Vaccines Market: Global Demand Analysis & Opportunity Outlook 2033”
Research Nester published a report titled “Vaccines Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global vaccines market in terms of market segmentation by type, administration route, age group, application, distribution channel, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global vaccines market is projected to grow at a CAGR of ~8% by attaining remarkable revenue during the forecast period, i.e., 2023 – 2033. Increasing cases of hepatitis B are anticipated to propel the growth of the market during the forecast period. For instance, approximately 30 million people were projected to be suffering from hepatitis B in 2019, while similar disease accounts for around 800,000 deaths every year. Additionally, the growing prevalence of tuberculosis (TB) is further estimated to propel the market growth over the forecast period. As of 2020, the number of people living with TB was estimated to be about 10 million.
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Additionally, by application, the global vaccines market is segmented into viral diseases (influenza, hepatitis, herpes zoster, rubella, rotavirus, and others), and bacterial diseases (diphtheria, meningococcal, pneumococcal, and others). Out of these sub-segments, the bacterial diseases segment is estimated to obtain the largest share in the market during the forecast period. The growth of the segment can be accounted to the growing number of people suffering from bacterial diseases. It is noticed that more than 1 million individuals lost their lives on account of antibiotic-bacterial resistant infections in 2019.
Furthermore, the global vaccines market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the Asia Pacific region is estimated to grow at a rapid pace over the forecast period on the back of escalation in the birth rate and growing geriatric population. As per the data provided by the Asian Development Bank, it was predicted the elderly population of the region will reach 923 million by the year 2050.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Increasing COVID-19 Vaccine Administration to Foster the Growth of the Market
World Health Organization (WHO) demonstrated that by September 19, 2022, around 12,640,866,343 vaccine doses has been administered successfully.
COVID-19 has significantly affected the lives of millions causing death and breaking down the economies of various nations. COVID-19 affects different people in multiple ways depending on the endurance of their immune systems. Since no medicine is available in the market that can cure COVID-19 entirely has hiked the demand for requisite vaccines. Many big organizations and private companies are constantly working to develop such vaccines. Therefore, such factors are anticipated to propel the growth of the market during the forecast period.
However, requirement for higher initial investment and long-lasting and costly procedure of R&D of the vaccine is expected to operate as a key restraint to the growth of the global vaccines market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players in the global vaccines market which includes company profiling of GlaxoSmithKline plc., Pfizer Inc., Sanofi Aventis, Merck & Co., Inc., Mitsubishi Tanabe Pharma Corporation, Bavarian Nordic A/S, Novartis AG, Inovio Pharmaceuticals, Inc., CSL Limited, and Emergence BioSolutions, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global vaccines market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.
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