Global Preventive Vaccines Market is valued at USD 43.52 Billion in 2021 and expected to reach USD 62.06 Billion by 2028 with a CAGR of 13.1% over the forecast period.
Global Preventive Vaccines Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- The increasing burden of infectious diseases, rising approvals for preventive vaccines and growing government funding for vaccine development are major factors anticipated to drive the growth of the Global Preventive Vaccines Market.
The vaccines used for prevention of any type infectious disease are called preventive vaccines. Also preventive vaccines are used for reducing the risk of oncoviruses or viral infections which are responsible for the development of several cancers. Head, neck, and cervical cancer is caused by human papillomavirus, or HPV, whereas liver cancer can be caused by hepatitis B virus or HBV. However, these vaccines were not effective against cancer that was already developed by oncoviruses. Numerous vaccines have been developed that can prevent HBV and HPV infection and, as a result, protect against the formation of HBV- and HPV-related cancers. U.S. Food and Drug Administration (FDA) had these preventive vaccines.
The Covid -19 pandemic has shown a positive impact on the growth of the global preventive vaccines market. The Covid-19 pandemic had shown a significant impact on healthcare industry. The focus and research and development activities regarding the preventive vaccines has been increased during pandemic. The increased evolving healthcare spending, evolving vaccine technologies and the demand of preventive vaccines has been increased which positively impacted the global preventive vaccines market growth during pandemic.
The global preventive vaccines market is segmented on the basis of type, disease, and region & country level. Based upon type, the global preventive vaccines market is segmented into live/attenuated vaccines, inactivated vaccines, subunit vaccines, toxoid vaccines, conjugate vaccines, recombinant vector vaccines and other vaccines. On the basis of disease, the market is segmented into pneumococcal disease, poliovirus, hepatitis, influenza, measles, mumps, and rubella (MMR), Varicella, human Papilloma virus, COVID-19 and other diseases.
Some of the key players for the global preventive vaccines market are
On October 26th, 2021; Cleveland Clinic researchers have opened a novel study for a vaccine aimed at eventually preventing triple-negative breast cancer, the most aggressive and lethal form of the disease. This phase I trial is designed to determine the maximum tolerated dose of the vaccine in patients with early-stage triple-negative breast cancer and to characterize and optimize the body’s immune response. The U.S. Food and Drug Administration recently approved an investigational new drug application for the vaccine, which permits Cleveland Clinic and partner Anixa Biosciences, Inc. to start the study.
On September 30th, 2021; MSD Pharmaceuticals Mumbai announced launch of the Gardasil 9 Human Papillomavirus (HPV) vaccine to help reduce the HPV-related cancer burden in India. Cancers caused by HPV types contained in the vaccine among girls and women aged 9-26 years and boys aged between 9-15 years can be reduced by Gardasil 9 is a 9-valent HPV vaccine. Moreover, vaginal cancer, vulvar cancer, and cervical cancer can be reduced with help of Gardasil 9. Boys who are suffering from anal intraepithelial neoplasia, anal cancer and precancerous or dysplastic lesions the Gardasil 9 vaccine is recommended.
On December 28th, 2020; Serum Institute of India announced the launch of India's first indigenously developed pneumococcal vaccine called Pneumonitis significant milestone is aimed toward improving pneumococcal conjugate vaccine affordability and enabling sustainable access for low-and middle-income countries. The composition of the WHO pre-qualified vaccine is specially tailored as per the prevalence of the highest 10 serotypes of S. pneumoniae in India and other regions of the planet, which is that the unique feature of this conjugate vaccine. The vaccine will provide effective and long-lasting protection for youngsters against pneumococcal diseases.
On July 10th, 2020; On June 12th, Merck announced that the U.S. Food and Drug Administration (FDA) had approved an expanded indication for Gardasil 9—a human papillomavirus (HPV) nine-valent vaccine—for the prevention of oropharyngeal and other head and neck cancers caused by HPV types 16, 18, 31, 33, 45, 52, and 58. The oropharyngeal and head and neck cancer indication is approved under accelerated approval based on effectiveness in preventing HPV-related anogenital disease. Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial, which is currently underway.
One of the major factors driving the growth of the global preventive vaccines market is increasing burden of infectious diseases. Infectious diseases are main cause of deaths worldwide. To reduce the burden of various infectious diseases, preventive vaccines are important. For instance, as per World Health Organization (WHO), estimates 1400 epidemic diseases are observed in between 2011 to 2018. Hence, increasing infectious diseases drive the growth of global preventive vaccine market. In addition, another factor supplementing the growth of global preventive vaccines market is rising approvals for preventive vaccines. For instance; on May 6th , 2020; HEPLISAV-B vaccine received approval from FDA. Also, on 23rd August 2021, Pfizer-Biotech COVID-19 vaccine had fully approved by the Food and Drug Administration.
furthermore, growing number of supportive government funding for vaccine development also drives the global preventive vaccines market. For instance, in July 2020, Novavax received $1.6 billion in funding to develop its protein-based vaccine under a government program aimed at accelerating access to coronavirus vaccines and treatments. And, rising prevalence of diseases and technological advancements in the field of vaccines are also fostering the market growth.
However, high cost associated with the development of preventive vaccines and lack of skilled professionals may hamper the growth of the global preventive vaccines market. In spite of that, rising demand and increasing number of research and development activities in this field can provide various opportunities for the further growth of the global preventive vaccines market.
North America is expected to dominate the global preventive vaccines market due to the increasing adoption of preventive vaccines, highly developed healthcare infrastructure and presence of major key players along with R&D laboratories in this region. The adoption of preventive vaccines for life-threating diseases is increasing the market growth of preventive vaccines. For instance, according to World Health Organization (WHO), as on 3rd February 2022, overall, 527,784,089 vaccine doses have been administered in U.S. In addition, highly developed healthcare infrastructure in North America has providing growth for the development of vaccines. Moreover, presence of major key players such as Merk, Pfizer, Johnson and Johnson which are constantly under research and developing of new vaccines which is boosting the market growth. For instance, on 25th January 2022, trail of the omicron-targeted covid vaccine was launched by Pfizer and BioNTech.
Asia-Pacific is expected to witness a significant growth in global preventive vaccines market due to increasing research in the emerging countries, rising prevalence of infectious diseases and growing government initiatives to increase the awareness regarding the vaccines in this region. The ongoing research in preventive vaccines in this region is supplementing the growth of the preventive vaccines in this region. For instance; on December 14th, 2021, Serum Institute of India announced planning of launch a Covid-19 vaccine for children in the next six months. In addition to that, rising prevalence of infectious diseases is also driving market growth for the need of vaccinations. For instance; according to the World Health Organization (WHO), there have been 42,723,558 Covid-19 cases as on February 16th, 2022.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 43.52 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 62.06 Billion|
|Tables, Charts & Figures:||175|
|Key Players / Companies||Merk, GlaxoSmithKline, Johnson and Johnson, Pfizer, Sanofi, AstraZeneca, CSL Ltd, Abbott, Serum Institute of India, and Others.|
|Segments Covered||By Type, By Disease|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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