DUBLIN, April 1, 2019 /PRNewswire/ -- The "Global Preventive Vaccines Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The global preventive vaccines market is currently recording a CAGR of 6.18%.
The preventive vaccines market has attained maturity in some of the disease segments, like polio, while for some diseases, it is yet to establish itself in the market. In spite of these differences in each segment, the market is continuously experiencing growth, due to the varying degrees of increase of the demand for vaccination for separate diseases over time.
The growth of the global preventive vaccines market is due to the increasing prevalence of infectious diseases, innovative technology in vaccine development, increased funding from government and international organizations, and increasing awareness on preventive care.
Infectious diseases are considered to be the world's greatest killers that pose some of the most significant health and security threats faced by the global community. Various infectious diseases are among the world's leading causes of death.
Scientists from every country are currently performing research, sharing information, building laboratory capacity in underdeveloped countries, and creating global surveillance networks in order to prevent and control their spread through preventive vaccinations.
However, healthcare costs are rising astronomically and the trends are leaning toward prevention. The cost of vaccination has gone from a single digit to even triple digits few times over the past two decades, thus creating serious dilemmas for doctors and their patients, as well as straining public health budgets.
Key Market Trends
Live/Attenuated Vaccines Segment is Expected to Exhibit Fastest Growth Rate over the Forecast Period
Live/attenuated vaccines contain weakened versions of living microbes, making them ineffective to cause diseases. These vaccines produce a similar, yet weakened reaction, compared to that of natural infections. The immune system generates strong cellular and antibody responses that often confer lifelong immunity, with only one or two doses.
The live/attenuated vaccines need to be refrigerated to stay potent. In addition, if the vaccine needs to be shipped overseas and stored by healthcare workers, in developing countries that lack widespread refrigeration, a live vaccine may not be the best choice. Live/attenuated vaccines for certain viruses are relatively easy to create.
Vaccines against measles, mumps, and chickenpox, among others, are designed using this method. Pertaining to the ease of manufacturing, and the ability to generate strong immune responses to the market for live/attenuated vaccines, a steady growth rate is expected during the forecast period.
North America Captured the Largest Market Share and is Expected to Retain its Dominance
North America holds the largest share in the market, with the United States being the largest contributor to its revenue. In the United States, the Centers for Disease Control and Prevention's (CDC) Advisory Committee for Immunization Practices (ACIP) routinely publishes recommendations for adult and childhood vaccination.
The United States has one of the leading healthcare systems in the world and the vaccination coverage, in terms of vaccine inclusion, is at par with the WHO guidelines. Thus, the preventive vaccine market in the region is expected to show moderate growth over the forecast period.
Some of the key players in the market are AstraZeneca PLC, Emergent BioSolutions Inc., Daiichi Sankyo Co. Ltd, GlaxoSmithKline PLC, and Johnson & Johnson, among others. These companies are also focusing on innovations, and are spending majorly in R&D in order to lead the global preventive vaccines market, thereby increasing competition among them.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 Research Methodology
3 Executive Summary
4 Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Prevalence of Infectious Diseases
4.2.2 Innovative Technology in Vaccine Development
4.2.3 Increased Funding from Government & International Organizations
4.2.4 Growing Awareness about Preventive Care
4.3 Market Restraints
4.3.1 Risk of Adverse Effects
4.3.2 Huge Capital Expenditures
4.4 Industry Attractiveness Porter's Five Forces Analysis
5 Market Segmentation
5.1 By Vaccine Type
5.1.1 Live/Attenuated Vaccines
5.1.2 Inactivated Vaccines
5.1.3 Subunit Vaccines
5.1.4 Toxoid Vaccines
5.1.5 Conjugate Vaccines
5.1.6 Recombinant Vector Vaccines
5.1.7 DNA Vaccines
5.2 By Disease Type
5.2.5 Measles, Mumps and Rubella (MMR)
5.2.7 Human Papilloma Virus
5.2.8 Other Disease Types
5.3.1 North America
5.3.4 Middle East & Africa
5.3.5 South America
6 Competitive Landscape
6.1 Company Profiles
6.1.1 AstraZeneca PLC
6.1.2 Emergent BioSolutions Inc.
6.1.3 Daiichi Sankyo Co. Ltd.
6.1.4 GlaxoSmithKline PLC
6.1.5 Johnson & Johnson
6.1.6 Merck & Co.
6.1.7 Novavax Inc.
6.1.8 Pfizer Inc.
6.1.9 Sanofi S.A.
6.1.10 Takeda Pharmaceutical Co. Ltd.
7 Market Opportunities and Future Trends
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