Vaccines are biological drugs, such as medicine or drugs that can stimulate immunity to specific pathogens and are given to people who may become targets of infection. These vaccines contain an active ingredient that restores balance with pathogens and helps to reduce or eliminate the infections. It also helps to immune system to fight infections faster and more effectively, after vaccination, it triggers the immune response, and helps the body to fight bacteria and reduces the chance of ever enters again. Preventive vaccines are usually used to prevent various diseases like measles, mumps, polio, chicken pox, rubella, influenza (flu), and hepatitis A & B.
Referring to study, “Global Preventive Vaccines Market 2020-2026 by Vaccine Type, Disease, Administration, Patient, and Region COVID-19 Impact and Growth Opportunity” some of the renowned companies that are presently operating in the global preventive vaccines market include Emergent BioSolutions Inc., Sanofi SA, Takeda Pharmaceutical Co. Ltd., CSL Ltd., GlaxoSmithKline plc, Novavax, Inc., China National Biotec Group Company Ltd., Daiichi Sankyo Co. Ltd, Moderna Inc., Bavarian Nordic A/S, AstraZeneca plc, Johnson & Johnson, Merck & Co. and among others. Leading companies have received significant funding for their proprietary product portfolios; majorly, they are mid-sized organizations based in North-American region. Numerous companies in various regions claim to provide contact development, fill or finish, and regulatory support, besides the manufacturing services.
Based on vaccine type, preventive vaccines market can be segmented as toxoid vaccines, live/attenuated vaccines, conjugate vaccines, recombinant vector vaccines, subunit vaccines and others. Based on disease, market can be segmented as vaccines for poliovirus, vaccines for influeza, vaccines for varicella, vaccines for pneumococcal disease, vaccines for COVID-19, vaccines for Measles, Mumps, and Rubella (MMR), vaccines for human papilloma virus and others. Based on administration, market can be segmented as oral route, intramuscular route, intravenous injection, subcutaneous route and others. In addition, based on patient, market can be segmented as pediatric vaccines and adult vaccines. Pediatric vaccines include hepatitis, varicella, pneumococcal, poliovirus, Haemophilus Influenzae B (HIB), Measles, Mumps, and Rubella (MMR) and others. Additionally, adult vaccines include zoster, cervical cancer, influenza, hepatitis and others.
The preventive vaccines market is driven by rise in prevalence of disease, followed by increase in funding from the government for vaccine development and growth in technological advancements to decrease the novel vaccine development time & initiatives by NGOs. Apart from this, high cost associated with treatment and massive capital expenditure & stringent regulatory policies may impact the market.
Based on regional analysis, the North-America is a leading region in global preventive vaccines market owing to growth in adoption of latest technologies coupled with innovative drugs & vaccines across the region. The Asia-Pacific and Europe regions are likely to witness higher growth rate due to growth in population and increase in support from the government by launching reimbursement schemes in the favor of ordinary people over the forecast period. It is predicted that future of the global preventive vaccines market will be bright on account of rise in pharmaceutical companies during the forecast period.
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Ankur Gupta, Head Marketing & Communications