The global preventive vaccines market is expected to grow at a significant CAGR during the forecast period (2024-2031). In some disease sectors, such as polio, the preventive vaccinations industry has matured, whereas, in others, it has yet to be established in the market. Despite these disparities in each segment, the market continues to grow, owing to variable degrees of rising demand for vaccination for different diseases throughout time. The increasing prevalence of infectious diseases, technological innovations in preventive vaccines, higher financing from government and international organizations, and increased awareness of preventative care are all contributing to the growth of the global preventive vaccines market.
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Healthcare costs, on the other hand, are skyrocketing, and the trend is toward prevention. Vaccination costs have risen from single digits to triple digits a few times in the last two decades, posing severe challenges for doctors and their patients, as well as putting pressure on public health funds. Infectious diseases are widely regarded as the world’s deadliest killers, posing some of the world’s most serious health and security risks. Infectious infections are among the biggest causes of mortalities around the world. Hepatitis A is a dangerous infection that is even found in developed countries such as the US.
According to the Centers for Disease Control and Prevention (CDC) 2019 figures, the incidence of hepatitis has risen in recent years. According to the study, the frequency climbed from 0.4 per 100,000 in 2014 to 1.0 in 2017. This has led the government efforts aimed at slowing the disease’s spread. Hepatitis A vaccine is made up of dead hepatitis A viruses that stimulate the immune system to create antibodies against the infection. Antibodies begin to develop shortly after the first dose in most vaccination recipients, however, it takes 2 to 4 weeks for them to reach protective levels. To ensure long-term protection, a second dose of the vaccination should be given at least six months following the first. The rising prevalence of hepatitis A, as well as the availability of preventive vaccinations, are projected to drive market growth.
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Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: Blistex Inc.; Church & Dwight Co, Inc.; 3M; Colgate Palmolive Company; GlaxoSmithKline, Plc; and Bristol-Myers Squibb Co., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Preventive Vaccines Market Report Segmentation
By Vaccine Type
- Live/Attenuated Vaccines
- Inactivated Vaccines
- Subunit Vaccines
- Toxoid Vaccines
- Others
By Disease Type
- Pneumococcal
- Poliovirus
- Hepatitis
- Influenza
- Cervical Cancer
- Zoster
- Measles
- Mumps
- Rubella (MMR)
- Others
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