Preventive vaccines are biological preparations intended to protect against specific infectious diseases by inducing immunity against their causative pathogens. They help protect individuals and communities from contracting vaccine-preventable diseases such as influenza, pneumonia, HPV, and meningitis. The global preventive vaccines market is estimated to be valued at US$ 51,057.26 million in 2023 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased Immunization Awareness: The key market trend driving the growth of the preventive vaccines market is the increasing awareness regarding the importance of immunization. Various government and non-government organizations are undertaking initiatives to educate people about vaccine-preventable diseases and the effectiveness of preventive vaccines in eradicating them. They are promoting vaccination as a critical public health intervention. This has resulted in higher uptake of different preventive vaccines globally.
Segment Analysis
The global preventive vaccines market is dominated by the pediatric segment. This segment accounts for the largest market share owing to the high adoption rate of various pediatric vaccines such as MMR (Measles, Mumps and Rubella), DTaP (diphtheria, tetanus, pertussis), IPV (polio) and Hib (Haemophilus influenza type b) across all regions. These vaccines help prevent the spread of infectious diseases among children and infants.
Key Takeaways
The global Preventive Vaccines Market Growth is expected to witness high growth. Regional analysis related content comprises The North America region currently dominates the preventive vaccines market and is expected to continue its dominance during the forecast period. This is attributed to the relatively high adoption rate of vaccination in countries such as the US and Canada. Growing awareness regarding the management of infectious diseases and availability of immunization programs further support the market growth in the region.
Key players related content comprises Key players operating in the preventive vaccines market are Sanofi SA, Pfizer Inc., Novavax Inc., Merck & Co. Inc., Johnson & Johnson, GlaxoSmithKline PLC, Daiichi Sankyo Co. Ltd., Emergent BioSolutions Inc., AstraZeneca, and Takeda Pharmaceutical Company Limited, among others.
Sanofi SA offers a broad portfolio of pediatric and adult vaccines to help prevent diseases such as polio, diphtheria, tetanus, pertussis, influenza, pneumococcal disease, meningococcal disease, rotavirus gastroenteritis and cervical cancer. Similarly, Pfizer Inc. develops and produces cost-effective pediatric and adult vaccines for pneumococcal disease, meningococcal disease, diphtheria, tetanus, pertussis and influenza.
For more insights, read- https://www.ukwebwire.com/preventive-vaccines-market-trends-size-and-share-analysis/
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