Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global conjugate vaccine market, by Product Type (Monovalent Conjugate Vaccines and Multivalent Conjugate Vaccine), By Disease Indication (Pneumococcal, Influenza, Meningococcal, and Typhoid), by Pathogen Type ( Bacterial and Viral), by Patient Type (Pediatric and Adults), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 12, 977.2 million in 2018, and is projected to exhibit a CAGR of 9.6%, during the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.
The rising government support to increase vaccination is significantly contributing to the development of the conjugate vaccine market. For example, the increasing incidence of zoonotic and several other infectious diseases in humans has led to research and development of new and effective recombinant vaccines to prevent infectious diseases. Moreover, to increase vaccination awareness, several governments have also taken initiatives to prevent diseases in the community.
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Some manufacturing firms have also launched several beneficial programs to provide free immunization to poor individuals which is projected to create a highly conducive environment for the development of the global conjugate vaccine market in the future. For example, according to the National Center for Biotechnology Information (NCBI), a global introduction of pneumococcal conjugate vaccine (PCV) will help prevent 5.4 – 7.7 million deaths among children by 2030 and will help in achieving goal-4 of the ‘Millennium Development Goals’. The WHO has recommended the introduction of hemophilic influenza type b (Hib) and PCV7 in the national immunization schedules of all countries.
The increasing initiatives to introduce conjugate vaccines, as well as funding programs by various governments is expected to increase the overall revenue of the global conjugate vaccine market during the forecast period (2018-2026). For instance, the governments Armenia and Azerbaijan requested to switch from PCV10 to PCV13 in 2015. Therefore, the Global Alliance for Vaccines and Immunization (GAVI) reviewed and approved requests and both countries switched PCV products during 2016. The lowest advance market commitment (AMC) price per dose for GAVI eligible countries is currently between US$ 3.30 (PCV13) to US$ 3.05 (PCV10). However, the price per dose for non-Gavi middle-income countries (MICs) that procure PCV through UNICEF can range from US$ 7.00 to US$ 26.87 per dose, depending on differential pricing policies of the manufacturer.
Furthermore, the rising government funding and support are expected to lead to lucrative growth of the global conjugate vaccine market. In August 2016, The Sabin Vaccine Institute received an award of US$ 468,328 from the U.S. Centers for Disease Control and Prevention (CDC) to support initiatives to improve sustainable immunization financing. The project, conducted in partnership with the Pan American Health Organization (PAHO), will support sustainable financing, planning, and decision-making for immunization programs in low- and middle-income countries. The program was launched in 2016, in the Democratic Republic of Congo, Senegal, and Kenya.
Browse 38 Market Data Tables and 33 Figures spread through 186 Pages and in-depth TOC on “Global Conjugate Vaccine Market, by Product Types (Monovalent Conjugate Vaccines and Multivalent Conjugate Vaccine), by Disease Indication (Pneumococcal, Influenza, Meningococcal, and Typhoid), by Pathogen Type (Bacterial and Viral), by Patient Type (Pediatric and Adults), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026”
To know the latest trends and insights related to Global Conjugate Vaccine market Press Release, click the link below: https://www.coherentmarketinsights.com/press-release/conjugate-vaccine-market-to-surpass-us-270153-million-by-2026-1425
Key Takeaways of the Global Conjugate Vaccine Market:
- The global conjugate vaccine market is expected to expand at a CAGR of 9.6% during the forecast period (2018–2026) due to initiatives by key players to develop significant technologies for patient identification.
- The increasing number of collaborations between key players for expanding the conjugate vaccine business is expected to drive the global conjugate vaccine market growth. For instance, the government of India, in collaboration with GAVI in 2017, launched the Pneumococcal Conjugate Vaccine (PCV) in three states of the country at a low cost. Moreover, around 60% of all GAVI-procured vaccines will be manufactured in India under this collaboration.
- Major players operating in the global conjugate vaccine market are Sanofi S.A, Pfizer, Inc., Merck & Co., Inc., GlaxoSmithKline plc., Bharat Biotech, Serum institute of India Pvt. Ltd., Biological E. Limited, and Bio-Med.
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