Human vaccines Market Overview:
Rapid advancement in technology is aiding the healthcare sector for development of innovative diagnostics and treatment solutions. Human vaccines are biological preparations that aid in improving immunity towards particular disease.
Market Research Future (MRFR) has published a report stating that the Middle East and Africa human vaccines market was estimated to be worth USD 0.6 billion in 2022. The Human Vaccines market is expected to boom from USD 0.63 billion in 2023 to USD 1.03 billion by 2032, at a compound yearly growth rate (CAGR) of 5.7% during the forecast period (2023 - 2032).
Market Drivers and Restraints:
Lack of awareness regarding the causative agents of diseases and low importance to sanitation and hygiene in the underdeveloped areas of Middle East and Africa region have led to the outbreak of various epidemics, causing major health concerns among the population of this region. Various diseases are being spread from these underdeveloped regions various parts of the world through the means of diseases carrying vectors. Multiple governmental and non-governmental organizations are taking the initiative of mass immunization in this region, which is majorly propelling the growth of the Middle East and Africa human vaccines market.
Increasing investment for research and development for developing vaccines that are highly effective on endemic diseases such as Lassa fever, Ebola and others are fueling the expansion of the Middle East and Africa human vaccines market. Rise in disposable income and increased healthcare expenditure by the population of developed areas of this region are some other factors that are resulting in the significant expansion of the Middle East and Africa human vaccines market. However, lack of awareness and religious constraints towards vaccines are likely to act as a restraint on the expansion of the Middle East and Africa human vaccines market during the forecast period.
Market Segmentation:
The Middle East and Africa human vaccines market has been segmented on the basis of technology, disease indication, type, composition, route of administration and end user. Based on technology, the human vaccines market has been segmented into attenuated, inactivated, toxoid, conjugate and subunit and recombinant DNA. Based on disease indication, the human vaccines market has been segmented into pneumococcal, influenza, hepatitis, rotovirus, DTP, polio and others. Based on type, the human vaccine market has been segmented into prophylactic and therapeutic. Based on composition, the human vaccines market has been segmented into mono vaccine and combination vaccines. Based on route of administration, the human vaccines market has been segmented into oral, injectable and others. Based on end user, the human vaccines market has been segmented into children and adults.
Regional Analysis:
Geographically, the Middle East and Africa human vaccines market has been segmented into major countries such as UAE, Egypt, Saudi Arabia, Kuwait, Qatar and Oman. The UAE region commands for the major share in the Middle East and Africa human vaccine market owing to the rapid development of healthcare sector, increased investments for adoption of technologically advanced healthcare solutions and high healthcare expenditure in this region. The UAE region is closely followed by Egypt in case of market size. Huge unmet medical needs and increasing government initiatives for facilitating proper healthcare solutions in the underdeveloped countries of the African region are leading to the growth of the human vaccines market at the fastest rate in the Middle East and Africa human vaccines market.
Key Players:
The major Middle East and Africa human vaccines market players profiled by MRFR that are operating in the market are GlaxoSmithKline Plc., Merck & Co. Inc., Pfizer, Inc., Shenzhen Kangtai Biological Products, Sanofi Pasteur, Inc., AstraZeneca Plc., Bharat Biotech, Emergent Biosolutions Inc., Astellas Pharma Inc., Panacea Biotec Valeant Pharmaceuticals, and others.
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