Preventive Vaccine Market Growth at CAGR of 7.5%, 2018-2023 - Latest Challenges and Trends

Preventive Vaccine Market Overview

The Preventive Vaccine Market is different from any other product market. Compared to the pharmaceutical market it is relatively small, although growing at a fast rate. There are presently close to 120 new vaccines in the pipeline of various multinational companies across the globe set to hit the market in the next few years. The vaccine market is rather concentrated on both supply and demand sides. It is highly regulated and mostly dependent on public purchasers and donor policies. It has very distinct features which increase the complexity of assessing and understanding pricing and procurement in their context.

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Increase in funding’s from government for vaccine development, rise in investments by the major market players, rising prevalence of disease, technological advancements to decrease the new vaccine development time, initiatives by NGO’s are some of the factors that are propelling the preventive vaccines market growth. However, massive capital expenditures and stringent regulatory policies, high cost associated with treatment are few factors inhibiting the growth of the market.

Preventive Vaccine Market Forecast Report (2018-2023)

Global Preventive Vaccine Market is estimated at $38.44 Billion in 2018 and is poised to reach $70.01 billion by 2023 with a compound annual growth rate of 12.74%

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Preventive Vaccine Market Segmentation

The Global Preventive Vaccines Market is segmented by type of vaccine as Live, attenuated vaccines, in activated vaccines, Toxoid vaccines, Subunit vaccines, Conjugate vaccines, DNA vaccines and Recombinant vector vaccines. In addition, based on age groups the market is categorized as Pediatric Vaccine (Pneumococcal, MMR, Varicella, Hepatitis, Poliovirus, HIB and others) and Adult vaccines (Influenza, Cervical Cancer, Hepatitis, Zoster and others).

Furthermore, based on geography the global market is analysed under various regions namely, North America, Europe, Asia Pacific, Latin America and Middle-East & Africa. North America accounts for the large portion of revenue in the Preventive vaccine market. The growth of this market will be boosted owing to the presence of advanced and active R&D establishments in the region.

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Major Players:

The major companies dominating this market for its products and services are

GlaxoSmithKline, plc.,
Merck and Company,
Bavarian Nordic,
CSL Limited,
Emergent BioSolutions Inc.,
Novartis AG,
Johnson and Johnson,
Med Immune, LLC
Pfizer, Inc.,
Sanofi Pasteur.
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This release was published on openPR.