The global Vaccine Market was valued at USD 96.4 Billion in 2022 and it is anticipated to grow up to USD 128.6 Billion by 2032, growing at a CAGR of 2.9% during the forecast period.
A vaccine is a biological which is used to boost the person’s 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 a range of diseases will boost the market expansion. Furthermore, newly emerging infectious pathogenic diseases have 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 burdens. 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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Market Segmentation
By Age Group
- Pediatric
- Adult
By Technology
- Conjugated
- Live
- Inactivated
- Recombinant
- Toxoid
- Others
By Application
- Cancer
- Hepatitis
- Pneumococcal Disease
- Influenza
- COVID-19
- Others
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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.
COVID-19 Impact:
The outbreak of the COVID-19 pandemic pushed the pharmaceutical industry into action, with a race to develop therapeutic and preventive interventions. The onset of the SARS-CoV-2 pandemic set many pharmaceutical companies to quickly add clinical sequencing to expand safety testing that helped fight against the COVID-19 pandemic. COVID-19 had a significant impact on the Vaccine market. For instance, as per the study published in PLOS ONE in January 2022, it was concluded that COVID-19 syndrome caused significant alterations in the blood transcriptome, which were assessed using RNAseq and verified using digital droplet PCR (ddPCR) on specific targets. Such studies augment the use of Vaccine in analyzing the progression of COVID-19, thereby boosting the market’s growth over the coming years. Hence, owing to the increasing RNA and DNA sequencing-based research & development activities in developing diagnostic tools or effective therapeutics for COVID-19, the market is likely to continue its significant growth rate during the forecast period.
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