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The global preventable vaccines market is expected to witness significant growth during the forecast period. The global preventable vaccines market is driven by the growing occurrence of chronic conditions such as flu and bacterial infections and the launch of numerous newer vaccines annually. Rising incidence of diseases among children results in implementation of several awareness programs by governments worldwide. Furthermore, significant advancements in vaccinology, such as the emergence, development, and usage of hepatitis B vaccine, should expand the business growth in the coming years. COVID-19 also had a major impact on the market growth.
Key Growth Drivers:
- Rising Awareness
In the last few years, government and non-government organizations in developing countries, have taken extreme efforts to raise awareness for preventive medicine. Several programs have been conducted that reach out to uneducated people, especially in rural areas. This is a key factor that boosts the preventable vaccines market in the world's emerging economies.
- Rising Demand for Oral Drugs
Oral drugs is expected to boost the market growth. The segment is expected to accelerate the global market as most products are available in capsule and tablet form and it is a very feasible route of administration.
The report outlines the involvement of key players, including:
Pfizer Inc. (U.S.), GSK plc (U.K.), Novartis AG (Switzerland), Mylan N.V. (U.S.), Sanofi (France), Boehringer Ingelheim International GmbH. (Germany), Merck Co., Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Bristol-Myers Squibb Company (U.S.), Bharat Biotech (India), Serum Institute of India Pvt. Ltd (India), EMERGENT (U.S.)
Key Market Segmentation
Technology (Inactivated Vaccines, Live Attenuated Vaccines, Toxoid Vaccines, Others), Indication (Pneumococcal Disease, Influenza, Polio, Hepatitis, Others), Route of Administration (Oral, Parenteral), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy)
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