The global Vaccine Market was valued at USD 135.4 Billion in 2022 and it is anticipated to grow up to USD 76.9 Billion by 2032, at a CAGR of 5.5% during the forecast period.
A vaccine is a biological which is used to boost the person immune system and help to provide immunization against chronic diseases. The suspension consists of either weakened or killed forms of disease-causing microorganisms that enhance immunity without causing diseases. The vaccine provides active immunity against a specific harmful agent such as diseases caused by a certain pathogen, injection, bacteria, virus, or parasites. By stimulating the immune system to attack the agent and eliminating these agents and increasing the life of adults and elderly individuals. After stimulation by a vaccine, B lymphocytes remain sensitized and ready to respond to the agent whenever it enters the body next time.
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Market Trends and Drivers
The expanding availability of preventive as well as therapeutic vaccines for range of diseases will boost the market expansion. Furthermore, newly emerging infectious pathogenic diseases has influenced the need for effective vaccines across the globe. This has driven the R&D activities undertaken by the operational players as well as dedicated research institutes. Advancement in vaccine development technologies to increase its efficacy and liability will offer innovative solutions to address existing disease burden. The adoption of novel development approaches including DNA/RNA vaccines, nanoparticle vaccines, and rational design will foster the vaccines market expansion.
Market Restraints and Challenges
Some of the market obstacles include a scarcity of experienced specialists and significant investment costs, as well as legal and ethical concerns about the market methods and outcomes in numerous nations.
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Global Vaccine Market Segmentation
By Age Group
- Pediatric
- Adult
By Technology
- Conjugated
- Live
- Inactivated
- Recombinant
- Toxoid
- Others
Major Players in the Global Vaccine Market
The global Vaccine Market report includes players are AstraZeneca plc., CSL Limited, Emergent BioSolutions Inc., GlaxoSmithKline plc., Johnson & Johnson, Merck & Co., Novavax, Pfizer Inc, Sanofi S.A., and Serum Institute of India, among others.
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