Vaccines Market Size

Vaccines Market Size

Vaccines Market size exceeded USD 138.7 billion in 2021 and will grow momentously at 5.6% CAGR during the forecast period. Increasing prevalence of viral infectious diseases are one of the major threats affecting large population across the globe. The higher incidence rate of hepatitis and human papilloma virus that can lead to severe health conditions in case of improper diagnosis will drive the demand for preventive vaccination, thereby stimulating the global market growth.

As per the World Health Organization, nearly 1.5 million individuals are estimated to be affected with Hepatitis C viral infection every year globally. Thus, the availability of effective preventive vaccines offering immunity against these diseases will offer unprecedented growth opportunities for the market expansion in the forthcoming years.
 

The increasing understanding of emerging diseases has led to the development of numerous vaccines during the past years. The availability of efficient vaccines for influenza, DTP, as well as pancreatic cancer has driven the market growth. Furthermore, advancements in the technology helped to achieve milestones in the vaccine development including avian flu vaccine, nasal flu vaccine, therapeutic cancer vaccine and egg-free vaccine among others. Along with development and disease prevalence, the immunization programs, and supportive initiatives by the government authorities to improve immunization coverage will positively impact the vaccines industry landscape during the analysis period.
 

Vaccines are biological preparation that provides protection against infectious diseases and reduce the fatal effects. It develops active acquired immunity that helps to stimulate individuals’ immune response to disease-causing pathogens. For past years, vaccines have been successfully used in the prevention and treatment of several infectious diseases including measles, small-pox, and polio.