6.5% CAGR for Vaccines Market Size to Reach USD 64538 Mn, Globally, by 2027 – The Insight Partners

NEW YORK, UNITED STATES, April 27, 2023 /EINPresswire.com/ -- Vaccines market growth is attributed to the rising prevalence of infectious diseases, growing focus on immunization programs, and increasing support for vaccine development. However, soaring prices of vaccines and complexity in its manufacturing are likely to pose a negative impact on the market growth.

Vaccines Market to 2027- Global Analysis and Forecasts by Technology (Recombinant Vaccines, Conjugate Vaccines, Live Attenuated Vaccines, Inactivated and Subunit Vaccines, and Toxoid Vaccines); Disease Indication (DTP (Diphtheria Tetanus toxoids and Pertussis), Influenza, Hepatitis, Respiratory Syncytial Virus (RSV), and Other Diseases); Route of Administration (Oral, Injectable, and Other Routes of Administration); Patient Type (Pediatric Patients, and Adult Patients) and Geography

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Growing Focus on Immunization Programs Expected to Fuel Vaccines Market Growth
According to the estimates from UNICEF, WHO, World Bank, and the UN Population Division, in the last decade, more than 5 million deaths were reduced with the help of vaccinations delivered around the world. Immunization is considered one of the most cost-effective ways to tackle public health challenges. In the past decade, the scope of immunization expanded significantly as new vaccines and delivery technologies have been introduced into routine immunization programs worldwide. At the same time, it has witnessed a proliferation of factors at the global stage that promote immunization and enabled vaccination programs in all parts of the world.

Immunization will likely become part of an integrated package of disease prevention strategies, meaning that immunization services will be accompanied by other services and delivered in more places, including schools, homes, and pharmacies. For instance, the Pulse Polio Initiative in India was started in 1995 with an objective to eradicate polio completely with administration of Oral Polio Vaccine to children in the age group of 0–5 years. According to the Ministry of Health and Family Welfare (MoHFW), Government of India, around 172 million children are immunized each year with polio drops vaccine on National Immunization Day (NID) during National and Sub-national immunization rounds (in high risk areas). The increasing focus on immunization programs is likely to foster the growth of market in the coming years. RVV has been introduced to reduce mortality and morbidity caused by Rotavirus diarrhoea in March 2016. It has been introduced in 11 states (Andhra Pradesh, Haryana, Himachal Pradesh, Jharkhand, Odisha, Assam, Tripura, Rajasthan, Tamil Nadu, Madhya Pradesh, and Uttar Pradesh). The vaccine will be expanded across the country during 2019–2020.

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Vaccines Market: Segmental Overview

Technology-Based Insights
The global vaccines market, based on technology, is segmented into recombinant vaccines, conjugate vaccines, live attenuated vaccines, inactivated and subunit vaccines, and toxoid vaccines. The conjugate vaccines segment held the largest share in 2018 and is anticipated to continue to lead over the next eight years.

Disease Indication-Based Insights
The global market, based on disease indication, is segmented into Diphtheria Tetanus toxoids and Pertussis (DTP), Influenza, Hepatitis, Respiratory Syncytial Virus (RSV), and other diseases. The Respiratory syncytial virus (RSV) causes infections in lungs and respiratory tract. The segment is expected to witness the highest growth over the forecast period.

Route of Administration-Based Insights
The global market, based on route of administration, is segmented into oral, injectable, and other routes of administration. The injectable segment held the largest share in 2018. On the other hand, the oral vaccines is expected to witness the fastest growth over the forecast period

Patient Type-Based Insights
The global market, based on patient type, is divided into pediatric patients and adult patients. The pediatric patients held a larger share in 2018, while the adult patients segment is expected to witness a higher growth during 2019–2027.

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Sameer Joshi
The Insight Partners
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