Surge in initiatives carried out by pharmaceutical companies toward improvement and development of vaccine drives the growth of the global DTP vaccine market.North America contributed the highest share in 2019, and will maintain its dominance throughout the forecast period.
According to the report published by Allied Market Research,the global Diphtheria, Pertussis, and Tetanus (DTP) vaccine market generated $4.75 billion in 2019, and is estimated to reach $7.05 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in initiatives carried out by pharmaceutical companies toward improvement and development of vaccine is likely to drive the growth of the global DTP vaccine market.However,high investment required for development of the vaccine is anticipated to restrain the growth of the market. Furthermore,vaccination programmes in developing nations conducted by governments is likely to provide new opportunities for the growth of the market.
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The demand for DTP vaccine is anticipated to decline during COVID-19 pandemic due to cancellation of vaccination programmes across various developing nations such as China, India, and Vietnam.
- Accoroding to United Nations Children’s Fund(UNICEF), more than 117 million children in 37 countries are anticipated to miss out on vaccinations due to cancellation of programme owing to outbreak of Covid-19 in 2020.
- The demand for DTP vaccination is expected to surge for immunization of newborns.
The report offers a detailed segmentation of the global DTP vaccine market based on age group product type, end-user, and region.
Based on product type, the DTaP vaccine segment contributed to the largest share in 2019, accounting for more than three-fifths of the total share, and is estimated to maintain its dominant position during the forecast period.However,the Tdap vaccine segment is estimated to portray the highest CAGR of 5.5% during the forecast period.
Based on age group, the pediatric segment accounted for the largest share in 2019, holding nearly three-fourths of the total share, and is expected to maintain the largest share throughout the forecast period.However,the adult segment is expected to register the highest CAGR of 5.5% from 2020 to 2027.
Based on region, North America contributed the highest share, accounting for nearly two-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period.However,Asia-Pacific is expected to grow at the highest CAGR of 6.1% from 2020 to 2027.
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Leading market players analyzed in the research include Bionet-Asia, AJ Vaccines,Johnson & Johnson,GlaxoSmithKline plc (GSK), Meiji Holdings Co., Ltd. (KM biologics co., Ltd.,Massbiologics, Panacea Biotec Ltd., Merck & Co., Inc., Serum Institute of India Pvt. Ltd., and Sanofi.
Scope of The Report:
|Market size available for years||2019-2027|
|Base year considered||2020|
|Forecast units||Value (USD)|
|Segments covered||Product Type, Age Group, End User|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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