Key Insights into the Ticovac Market: Trends, Growth Rate, and Opportunities Through 2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Major Market Drivers Are Expected to Boost the Growth Potential of the Ticovac Market?
The ticovac market is projected to expand due to the increasing incidence of tick-borne diseases. These diseases, which are transmitted to humans through tick bites, are on the rise because of climate change, expansion of tick habitats, increased human exposure, and improved diagnostics. Ticovac is used to create active immunity against tick-borne encephalitis (TBE), a serious viral infection spread through tick bites. For instance, in February 2024, the Centers for Disease Control and Prevention reported that the overall incidence of Lyme disease was 18.9 cases per 100,000 population. This was 68.8% higher than in previous years. Furthermore, the median rate among high-incidence jurisdictions was 58% higher at 68.3 cases per 100,000. Hence, the upsurge in tick-borne diseases is propelling the growth of the ticovac market. Boosted by the growth in research and development activities, the ticovac market is set for further expansion. Research and development (R&D) focus on creating new products, improving current ones, and innovating solutions through scientific and technical research to address emerging global challenges across different industries. This growing surge in R&D activities impacts TicoVac positively by driving progress in vaccine formulation and ensuring its ability to combat emerging strains of tick-borne encephalitis. For instance, in July 2024, the Department of Health and Social Care reported that $11.3 billion (£9.0 billion), representing 0.36% of the UK’s GDP, was committed by the business enterprise sector to pharmaceutical R&D in 2022 alone. This represented 18% of all business-based R&D in the UK for that year, the highest share among all product sectors. Therefore, escalation in research and development activities is fuelling the ticovac market’s growth.
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#What Long-Term Growth Rate is Expected for theTicovac Market Between 2025 and 2034?
The ticovac market has expanded consistently, increasing from $4,010 million in 2024 to $4,310 million in 2025 at a CAGR of 7.6%. Growth was fueled by awareness initiatives, more travel to endemic regions, veterinary concerns, aging populations, and higher military immunization.
The ticovac market will grow to $5,700 million by 2029 at a CAGR of 7.3%, due to more outdoor activity, TBE incidence, and better healthcare coverage. Trends include new vaccine development and genomic advancements.
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What Are the Key Market Innovations in theTicovac Market Over the Coming Years?
In the ticovac market, the main trend is about advancing ingenious formulations such as suspension liquid to establish a competitive advantage. Suspension liquid is a vaccine composition designed to combat tick-borne encephalitis; it is administered via an intramuscular injection. This 0.5mL dose has been crafted for both adults and children. For example, in September 2024, Ticovac, a vaccine designed to prevent the viral infection of tick-borne encephalitis affecting the brain and spinal cord, was introduced by Pfizer Inc., a pharmaceutical manufacturer based in the United States. The vaccine marked the first defense against the disease in Japan, where the virus is widespread. Two formats of the vaccine are available, one for adults and the other for children, both in the form of a 0.5mL intramuscular injection.
Who Are the Top Companies Driving Innovation and Growth in theTicovac Market?
Major companies operating in the ticovac market include Pfizer Inc.
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Which Key Market Segments Comprise the Ticovac Market and Drive Its Revenue Growth?
The ticovacmarket covered in this report is segmented –
1) By Formulation: Inactivated Vaccines; Live Attenuated Vaccines
2) By Indication: Tick-Borne Encephalitis; Japanese Encephalitis; Rabies Encephalitis
3) By Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Online Pharmacies
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Which Regions Are Emerging as Leaders in the Ticovac Market?
Europe was the largest region in the ticovac market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the ticovac market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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