The global vaccine market is expected to reach over USD 77.5 billion by 2024, according to a new report by Grand View Research, Inc. The presence of numerous molecules in the pipeline is anticipated to meet the demand for efficient vaccines. These include vaccines for chest infection, tuberculosis, malaria, and dengue. Most of the key players are actively leveraging on their vaccine development technologies to launch novel preventative solutions with an objective to increase their market share. For instance, Pfizer, Inc. is involved in the development of vaccines to prevent severe infections caused by Meningococcal B, Clostridium difficile, and Staphylococcus aureus.
Furthermore, the broad coalition of governments, worldwide, working to promote the awareness of vaccination benefits through immunization programs with the objective of containing the propagation of communicable diseases that are associated with high morbidity and mortality is expected to stimulate the market growth.
For instance, the ‘Immunize Australia Program’ sponsors the immunization of individuals, which acts as a preventative action in preventing disease occurrence and checks rampant disease transmission thus protecting millions of Australians from severe diseases. Another program that has been involved in achieving extensive immunization coverage on the Indian continent is the National Immunization Program, a government program that has focused on taking strong preventive measures to offset vaccine-preventable diseases, particularly in children.
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Further key findings from the study suggest:
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Grand View Research has segmented the global vaccines market on the basis of type, application, and region:
Global Vaccines Market By Type (Revenue, USD Million, 2013 – 2024)
Global Vaccines Market By Application (Revenue, USD Million, 2013 – 2024)
Vaccines Market By Region (Revenue, USD Million, 2013 – 2024)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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