Vaccines are also recognized as immunizations. Vaccination is a safe, simple and effective way to protect the people from diseases before they come into contact with them. It uses our body’s natural defenses to increase our resistance to certain infections and strengthen our immune system. Vaccines train our immune system to create the antibodies. Vaccinations play an important role in maintaining sustainable human health in all countries; therefore, they are employed in many regional disease prevention strategies. The demand for vaccinations is majorly driven by increase in incidence of viral & bacterial infectious diseases. Vaccinations are generally given to people of different age groups, strengthen their immune system for a lifetime and offer protection against various types of infectious diseases.
As per analysis, “North America 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 North-America preventive vaccines market include Novavax, Inc., GlaxoSmithKline plc, China National Biotec Group Company Ltd., Takeda Pharmaceutical Co. Ltd., Pfizer Inc., Bavarian Nordic A/S, Merck & Co., Sanofi SA, Moderna Inc., AstraZeneca plc, CSL Ltd., Emergent BioSolutions Inc., Daiichi Sankyo Co. Ltd and among others. These companies are also focused on innovation, investing primarily in Research & Development (R&D) in order to lead the regional preventive vaccines market, thus increasing competition among them.
The preventive vaccines market is bifurcated as disease type, vaccine type, patient type, administration and others. In terms of disease type, market can be segregated as vaccine for varicella, vaccine for influenza, vaccine for poliovirus, vaccine for COVID-19, vaccine for Measles, Mumps, and Rubella (MMR), vaccine for hepatitis, vaccine for human papilloma virus, vaccine for pneumococcal disease and others. Pneumococcal diseases have a leading market share due to the increase in infectious diseases and vaccination programs and the increasing demand for vaccines. In terms of patient type, market can be segregated as adult vaccine (zoster, hepatitis, cervical disease, influenza, and others) and pediatric vaccines (Haemophilus Influenzae B (HIB), varicella, poliovirus, hepatitis, pneumococcal and others). Moreover, In terms of administration type, market can be segregated as intravenous injection, subcutaneous route, intramuscular route, oral route, and others.
Increase in government focus on immunization programs, followed by growth in technology in vaccine development, increase in prevalence of infectious diseases and increase in funding from government & international organizations are some major factors, which are responsible for growth of the preventive vaccines market. However, risk of adverse effect and high price of vaccine development are major hindering factors for market.
North America region dominates the preventive vaccines market, with the United States being the major contributor to its revenue. US have one of the leading healthcare systems & vaccination coverage, in terms of the vaccine inclusion, is at par with the World Health Organization (WHO) guidelines. It is predicted that future of the preventive vaccines market will be bright because of new development of the vaccines, increase in healthcare expenditure, and rise in need for preventive vaccines especially new COVID-19 vaccines during the forecast period.
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Ankur Gupta, Head Marketing & Communications