The human body constantly battles a host of invaders, but most of them are destroyed before causing any harm. But sometimes the invaders are too dangerous, causing severe illness. Throughout history, viruses and bacteria have killed millions of people. Vaccines arm the body to fight these invaders and protect against serious illness. Vaccines are one of the most significant developments in public health, resulting in the control and elimination of many infectious diseases.
The global vaccines market is estimated to be valued at US$ 38,305.2 million in 2021 and is expected to exhibit a CAGR of 6.8% during the forecast period (2022-2028).
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Vaccines protect against serious diseases by stimulating the body’s natural defenses. Vaccines trigger the production of antibodies, preparing the body to fight disease. In most cases, these vaccines prevent the onset of the disease or reduce the severity of the symptoms. The immune system is able to fight off these diseases more efficiently when it is properly prepared. This phenomenon is called herd immunity. In the case of children, vaccination programs are given at an early age.
The growing prevalence of various infectious diseases is expected to drive the market growth during the forecast period. For instance, according to the data provided by the World Health Organization, in October 2021, an estimated 10 million people were ill with tuberculosis (TB) worldwide, of which there were 5.6 million men, 3.3 million women and 1.1 million children in 2020. According to the same source, 86% of new TB cases occurred in the 30 high TB burden countries such as India, China, Indonesia, and others in 2020.
Vaccines undergo several phases of clinical trials to evaluate their safety and effectiveness. Phase 1 studies usually involve several healthy volunteers. During phase two, a larger number of people are included, including those with heart disease or other diseases. These studies also help determine adverse reactions. They also help researchers understand how to create vaccines that will protect the public. The safety of vaccines depends on the type of vaccine used. If there is a risk of side effects, vaccines should be modified.
The COVID-19 pandemic and lockdown in various countries across the globe have negatively impacted the financial status of businesses across all sectors. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions.
The COVID-19 pandemic hampered immunization programs in countries due to lockdowns and other measures with an aim to reduce the spread of the virus. There was a collapse in the airline industry, which impacted the shipments of vaccines significantly, thereby having a negative impact on the global vaccines market. According to an article published by UNICEF in June 2020, as a consequence of the supply disruptions, countries across East and Southern Africa (ESARO), West and Central Africa (WCARO), East Asia (EAPRO), and South Asia (ROSA) indicated vaccine stocks reaching critical levels, for measles, diphtheria, tetanus, pertussis, hepatitis B, haemophilus influenzae type b, human papillomavirus (HPV), poliomyelitis, rotavirus, and pneumococcal conjugate vaccine (PCV). According to the same source, in early May 2020, about 99 countries reported the suspension of immunization campaigns for antigens such as measles, rubella, polio, meningococcal A, yellow fever, typhoid, cholera, and tetanus/diphtheria.
However, due to increased financial support from various government and non-government organizations, research activities for COVID-19 infection and the development of COVID-19 vaccines have significantly increased, which is expected to drive the global vaccines market growth over the forecast period.
The major factor that is expected to hinder growth of the global vaccines market include high cost involved in the vaccine development process and stringent government regulations for product approval. For instance, according to an article published by HEALTH AFFAIRS, in May 2021, around US$ 19.3 billion were spent on COVID-19 vaccine development by Biomedical Research and Development Authority (BARDA), a U.S. Department of Health and Human Services office alone.
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Major players operating in the global vaccines market include AstraZeneca, GlaxoSmithKline plc., Pfizer Inc., Abbott, Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Sanofi, EMERGENT, Astellas Pharma Inc., CSL Limited, Novavax, Serum Institute of India Pvt. Ltd., Bharat Biotech., Indian Immunologicals Ltd., DAIICHI SANKYO COMPANY, LIMITED., and Merck & Co., Inc.
Reasons to buy this Vaccines Market Report
◘ Save time carrying out entry-level research by identifying the size, growth, and leading players in the emerging Vaccines Market
◘ Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the emerging Vaccines Market
◘ Leading company profiles reveal details of key Vaccines Market players emerging five operations and financial performance
◘ Add weight to presentations and pitches by understanding the future growth prospects of the emerging Vaccines Market with five year historical forecasts
◘ Compares data from North America, South America, Asia Pacific Europe and Middle East Africa, alongside individual chapters on each region
The next part also sheds light on the gap between supply and consumption. Apart from the mentioned information, growth rate of Vaccines Market in 2028 is also explained. Additionally, type wise and application wise consumption tables and figures of Vaccines Market are also given.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Vaccines Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Vaccines Industry Impact
Chapter 2 Global Vaccines Competition by Types, Applications, and Top Regions and Countries
2.1 Global Vaccines (Volume and Value) by Type
2.3 Global Vaccines (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Vaccines Sales, Consumption, Export, Import by Regions
Chapter 5 North America Vaccines Market Analysis
Chapter 6 East Asia Vaccines Market Analysis
Chapter 7 Europe Vaccines Market Analysis
Chapter 8 South Asia Vaccines Market Analysis
Chapter 9 Southeast Asia Vaccines Market Analysis
Chapter 10 Middle East Vaccines Market Analysis
Chapter 11 Africa Vaccines Market Analysis
Chapter 12 Oceania Vaccines Market Analysis
Chapter 13 South America Vaccines Market Analysis
Chapter 14 Company Profiles and Key Figures in Vaccines Business
Chapter 15 Global Vaccines Market Forecast (2022-2028)
Chapter 16 Conclusions
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