Vaccines are products that reduce the risk of diseases by cooperating with the body’s immune system to establish protection against deadly pathogens. Different types of vaccines against life-threatening diseases have been discovered, such as diphtheria, pertussis, tetanus, measles and influenza, preventing million deaths from diseases each year. The preventive vaccine is given to a person who is free of the target infection to help protect the body’s immune system against future infections. These vaccines comprise of attenuated/killed microbes, or microbial DNA.
As per analysis, “Europe Preventive Vaccines Market 2020-2026 by Vaccine Type, Disease, Administration, Patient, and Country: COVID-19 Impact and Growth Opportunity” the key companies operating in the Europe preventive vaccines market include AstraZeneca plc, Johnson & Johnson, Takeda Pharmaceutical Co. Ltd., Merck & Co., Pfizer Inc., CSL Ltd., GlaxoSmithKline plc, Sanofi SA, Moderna Inc., Daiichi Sankyo Co. Ltd, Bavarian Nordic A/S, Novavax, Inc., Emergent BioSolutions Inc. and among others. In order to strengthen their position in the global automated 3D printing market, major players are now focusing on strategies such as recent development, mergers and acquisitions, product innovation, joint ventures, cooperation, and partnerships.
The Europe preventive vaccines market is majorly driven by rise in awareness on preventive care, followed by proliferation of contagious diseases and growth in research & development activities. Also, increase in support from the government for vaccine development, technological advancements in vaccine development and growth in focus on immunization which is anticipated to uplift the market growth. Some other factors, for instance growth in infectious diseases and the increase in healthcare expenditure, are most probable to accelerate the market growth throughout the forecast period.
Geographically, the European preventive vaccine market will account for a large part of the global market over the forecast period. Advancement in the healthcare infrastructure along with development of new vaccines, as the number of cancer cases in Europe increases, the demand for cancer vaccines may increase. Therefore, all these variables have contributed to the overall growth of the market. Scientists in the region are actively researching, sharing information, improving laboratory capacities in developing countries, and building global surveillance networks to prevent & control the spread of these diseases through preventive vaccines. The demand for efficient preventive-vaccines to protect against life-threatening diseases has increased dramatically due to the coronavirus epidemic. As a result, numerous industry players are prioritizing new preventive vaccines. In addition, numerous cooperation agreements have been reached between government agencies and vaccine manufacturers to avoid interruptions in the global vaccine supply.
Moreover, the regulatory authorities have accelerated the endorsements process in order to get the vaccinations on the market faster. Key growth contributors in the region are the Germany, UK, France, and Spain are contributing to the regional market growth. The UK and Germany are expected to have considerable market shares during the forecast period. The prevalence of chronic diseases and increased investment and funding by governments and private organizations to develop preventive vaccines in these countries are driving market growth.
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Ankur Gupta, Head Marketing & Communications