Vaccines Industry is anticipated to register 5.6% CAGR between 2022 and 2028 due to expanding immunization coverage with supportive government initiatives to cater emerging severe infectious diseases including COVID-19.
Selbyville, Delaware, May 09, 2022 (GLOBE NEWSWIRE) --
The vaccines market value is expected to reach USD 96.1 billion by 2028 , according to a new research report by Global Market Insights Inc. Increasing prevalence of infectious diseases along with growing adoption of prophylactic products will create demand for new vaccines.
Growing number of companies involved in the development of effective vaccines for various infectious and chronic disease will foster the vaccines market statistics. Rapid spread of coronavirus across the world has encouraged many companies to develop effective vaccines against COVID-19. Companies like Pfizer, Moderna, J&J, and many others have developed COVID-19 vaccine within a year of the pandemic and have helped reduce the disease burden to a great extent. Apart from helping people, these companies have generated enormous amount of revenues from the sale of COVID-19 vaccines.
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Adult vaccine segment was valued for USD 90.5 billion in 2021. Increased adoption of vaccines among adults for the prevention of various infectious disease will boost the segment forecasts. Increasing efforts by companies to develop novel vaccines for various infectious disease including hepatitis and HIV will create huge growth opportunities. Moreover, increased prevalence of cancer among adults is creating a demand for cancer vaccines, thus pushing the market value.
Some major findings of the vaccines market report include:
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Government initiatives to carry out vaccination drives, and awareness campaigns are pushing the market revenue.
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Rapid spread of infectious diseases and huge funding and R&D investments for development of vaccines will propel industry outlook.
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Increasing adoption of preventive immunization among children and adults along with recommendations from health authorities for routine vaccination will influence the vaccines market revenue.
Browse key industry insights spread across 200 pages with 215 market data tables & 13 figures & charts from the report, “Vaccines Market Size By Age Group (Pediatric, Adult), Disease (Cancer, Hepatitis, Pneumococcal Disease, DTP, Influenza, Human Papilloma Virus, Meningococcal Disease, Polio, Rotavirus, COVID-19), Technology (Conjugate, Live, Inactivated, Recombinant, Toxoid), Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/vaccines-market