Growth of the global vaccine market is attributed to increase in incidence of infectious diseases and promising vaccines in late stage of pipeline
PORTLAND, OREGON, UNITED STATES, September 19, 2021 /EINPresswire.com/ — Rise in the prevalence of infectious diseases, increase in immunization programs across the globe, and surge in R&D activities to develop new vaccine drive the growth of the global vaccine market. However, longer timelines required for vaccine production and high cost related to the development of vaccines hinder the market growth. On the other hand, growth opportunities in emerging market and rise in healthcare spending creates new prospects in the coming years.
The global vaccine market size accounted for $32,462 million in 2019, and is expected to reach $54,150 million by 2027, registering a CAGR of 6.6% from 2020 to 2027. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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Covid-19 outbreak led to increase in investments and R&D activities in the industry for vaccines as well as drugs against the novel corona virus.
The government organizations all across the globe along with world health organizations (WHO) are initiating to increase the potential for vaccine generation and global supply.
Most of the markets are dropping down, owing to the outbreak, including the vaccine market. The global vaccine market is negatively impacted by the pandemic as most countries adopted lockdown to combat the pandemic. In addition, most of the leading companies across the globe have slow down the manufacturing of other vaccines. Furthermore, the individual contributions companies are collaborating to accelerate the development, manufacture, and delivery of vaccines, diagnostics, and treatments for COVID-19.
The growth of the global vaccine market is attributed to increase in incidence of infectious diseases and promising vaccines in late stage of pipeline majorly drives the market growth. Furthermore, surge in investments by government on immunization programs and rise in awareness for immunization in developing countries further contribute toward the growth of the market.
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Key Findings Of The Study
The study provides an in-depth analysis, current trends, and future estimations of the global vaccine market to elucidate the imminent investment pockets.
Comprehensive analysis of factors that drive and restrict the vaccine market growth is provided.
It provides an extensive analysis of key segments to understand the type of products and indications used globally.
Extensive analyses of key segments of the industry help understand the types of products and technologies used across various geographies.
The key players operating in the vaccine industry include:
Serum Institute of India Pvt. Ltd.
Johnson & Johnson
Merck & Co., Inc.
Emergent BioSolutions Inc.
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