The global vaccine market is expected to reach over USD 77.5 billion by 2024, according to this new report.
The presence of numerous molecules in the pipeline is anticipated to meet the demand for efficient vaccines. These include vaccines for chest infection, tuberculosis, malaria, and dengue. Most of the key players are actively leveraging on their vaccine development technologies to launch novel preventative solutions with an objective to increase their market share.
Furthermore, the broad coalition of governments, worldwide, working to promote the awareness of vaccination benefits through immunization programs with the objective of containing the propagation of communicable diseases that are associated with high morbidity and mortality is expected to stimulate the market growth.
North America dominated the market in terms of revenue with over USD 12 billion in 2015, due mainly to the presence of extensive research and development activities and the existence of key participants of the industry in this region.
Asia Pacific is identified to witness a lucrative growth with a CAGR of around 10.7% during the forecast period due to the growing population base and the increasing economic growth of countries, such as China, Japan, and India. Moreover, the availability of skilled labors at a lower cost and the low manufacturing operations cost provide a platform for clinical trial outsourcing of the vaccinations under development to expedite commercialization.
- Merck & Co. Inc
- GlaxoSmithKline plc (GSK)
- SANOFI S.A
- Pfizer Inc.
- NOVARTIS AG
- Takeda Pharmaceuticals
- Astellas Pharma Inc.
- Emergent BioSolutions
- Mitsubishi Tanabe
Key Topics Covered:
1 Methodology and Scope
2 Executive Summary
3 Market Snapshot
4 Market Variables, Trends & Scope
5 Market Categorization 1: Vaccines Type Estimates & Trend Analysis
6 Market Categorization 2: Vaccine Application Estimates & Trend Analysis
7 Market Categorization 3: Regional Estimates & Trend Analysis, by Type & Application
8 Competitive Landscape
For more information about this report visit http://www.researchandmarkets.com/research/frl9td/vaccine_market
Related Topics: Vaccines