The preventive vaccines market is witnessing unprecedented growth, with a remarkable compound annual growth rate (CAGR) of 6%. As the demand for vaccination against various infectious diseases continues to surge, the market's value is expected to surpass a staggering by US$ 69 billion by 2030. This exponential growth is attributed to increasing awareness about immunization, government initiatives promoting vaccination programs, and advancements in vaccine development and distribution infrastructure. Key players in the healthcare industry are actively investing in research and development to introduce innovative preventive vaccines, further propelling the market's expansion. With the ongoing emphasis on public health and disease prevention, the preventive vaccines market is poised to achieve remarkable milestones in the coming years.
The report "Preventive Vaccines Market, By Vaccine Type (Live/Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, Toxoid Vaccines, Conjugate Vaccines, Recombinant Vector Vaccines, and DNA Vaccines), By Disease Type (Pneumococcal, Poliovirus, Hepatitis, Influenza, Measles, Mumps and Rubella (MMR), Varicella, Human Papilloma Virus, and Other Disease Types), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2030”
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Key Highlights:
• In January 2019, GSK and Medicines for Malaria Venture (MMV) announced the publication of positive results from two phase III studies of single- dose tafenoquine for the radical cure of Plasmodium Vivax (P. Vivax) Malaria in the New England Journal of Medicine.
• In February 2018, GlaxosmithKline, PLC (GSK) RECEIVED European approval for the expanded indication for Fluarix Tetra (Influenza Vaccine) for ages 6 month to older.
Analyst View:
From an analyst's perspective, the preventive vaccines market presents a promising landscape with significant growth potential. The remarkable 6% CAGR projected for the market indicates a strong demand for vaccination solutions worldwide. Factors such as rising awareness about the importance of immunization, government initiatives to promote vaccination campaigns, and improved vaccine distribution networks are major drivers behind this growth.The market's valuation surpassing by US$ 69 billion signifies a considerable investment in preventive healthcare measures, with both public and private sectors actively participating in vaccine development and distribution. Additionally, ongoing research and development efforts by key players in the healthcare industry are likely to introduce innovative vaccines, further boosting market expansion.
Competitive Landscape:
The key players operating in the global preventive vaccines market includes Astellas Pharma Inc., CSL Limited, Emergent BioSolutions, Inc., GlaxoSmithKline plc, Johnson & Johnson, MedImmune, LLC, Merck & Co., Inc., Pfizer, Inc., Sanofi Pasteur, Serum Institute of India Pvt. Ltd., Bavarian Nordic, Mitsubishi Tanabe Pharma Corporation, Daiichi Sankyo, Biological E, and Panacea Biotec.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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