The global toxoid vaccine market is expected to grow at a significant CAGR during the forecast period (2024-2031). The key companies across the globe are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launch, and product innovation to remain competitive in the marketplace. For instance, in March 2020, In December 2019, Panacea Biotec, received an award worth $24.3 million from U. N nations (UNICEF and PAHO) for its supply of its WHO prequalified Pentavalent Vaccine. The vaccine protects children from Diphtheria, Tetanus, Pertussis, hepatitis B, and invasive infections caused by Haemophilus Influenza Type b.
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Apart from this, in May 2021, GlaxoSmithKline and Samsung partnered to provide GSK with additional capacity to manufacture and supply GSK’s innovative biopharmaceutical therapies. The agreement will supplement GSK’s existing manufacturing network. Moreover, in April 2021, AstraZeneca proposed acquisition of Alexion Pharmaceuticals, Inc received US Federal Trade Commercial clearance. In addition, in June 2021, Merck acquired the spinoff of Organon & Co. Merck. The acquisition will allow Merck to create two patient-focused companies with enhanced strategies, operational focus, and improved financial profiles. In October 2018, Emergent Biosolutions Inc. acquired PaxVax to expand its portfolio of marketed and pipeline products, expand its manufacturing capabilities and strengthen its presence in the market.
The factor contributing to the growth of the market is the rising prevalence of tetanus. According to the Center for disease control and prevention, 38,000 people died from tetanus in 2017, across the globe, and around half (49%) were younger than five years old. Additionally, the vaccine against tetanus allowed progress in controlling the disease. 89% reduction in tetanus cases and deaths resulted since 1990. Thus, the usefulness of vaccines is contributing to the growth of the market.
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Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: Pfizer Inc., Merck KGaA, and GlaxoSmithKline PLC, 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 Toxoid Vaccine Market Report Segmentation
By Type
- Monovalent Tetanus Toxoid (TT)
- Diphtheria, Tetanus, and Pertussis (DTaP)
- Diphtheria and Tetanus (DT)
By End-User
- Hospitals and Clinics
- Government Organizations
- Others
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