Global Adult Vaccines Market Opportunities And Strategies 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s adult vaccines market report forecasts the adult vaccines market size to grow to $25.83 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.
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Adult Vaccines Market Size Forecast
The global adult vaccines market is expected to grow from $18.20 billion in 2022 to $19.56 billion in 2023 at a compound annual growth rate (CAGR) of 7.49%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global adult vaccines market size is expected to reach $25.83 billion in 2027 at a CAGR of 7.20%.
North America held the largest adult vaccines market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Adult Vaccines Market Driver – Increase In The Prevalence Of Contagious Diseases
According to the World Health Organization’s COVID-19 dashboard, a Switzerland-based public health body of the United Nations, 655 million people were infected with COVID-19 since the virus’s introduction in 2019. Furthermore, according to the World Health Organisation, a Switzerland-based international public health body of the United Nations, 1.3 million deaths (non-HIV) occurred due to TB (Tuberculosis) in 2021, up from 1.2 million in 2019. As a result, the rising occurrence of contagious diseases is propelling the adult vaccinations market forward.
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Key Adult Vaccines Market Trend – Product Innovations
To maintain their market position, major market players are introducing novel items. For example, in April 2020, the U.S. Food and Drug Administration, a federal regulatory agency based in the United States, approved MenQuadfi vaccinations made by Sanofi, a pharmaceutical firm based in the United States. The vaccine is the first and only quadrivalent vaccine with a tetanus toxoid that elicits a strong immune response against all four serogroups of Meningococcus bacteria.
Adult Vaccines Market Segment
1) By Vaccine Type: Monovalent, Multivalent
2) By Technology: Live Attenuated Vaccines, Inactivated Viral or Bacterial Vaccines, Toxoid Vaccines, Recombinant Vaccines, Conjugate Vaccines
3) By Application: Influenza, DPT, Human Papillomavirus, Zoster, Pneumococcal, Hepatitis
4) By End Users: Healthcare Firms, Hospitals
Adult Vaccines Market Major Players and Strategies
Major players in the adult vaccines market are GlaxoSmithKline PLC, Merck & Co, Sanofi Pasteur, Pfizer Inc., CSL Limited, Johnson & Johnson, Serum Institute of India, AstraZeneca PLC, Novartis AG, Protein Sciences Corporation, Emergent BioSolutions Inc., Bavarian Nordic A/S, Mitsubishi Tanabe Pharma Corporation, Daiichi Sankyo Company, Dynavax Technologies Corporation, ImmunoBiology Ltd., and Novavax Inc.
Merck, a US-based pharmaceutical business, bought Themis in June 2020 for an unknown sum. The acquisition would expedite Themis’ measles vector-based SARS CoV-2 vaccine research and accelerate vaccine innovation. Themis is a vaccination and immunomodulator therapy developer based in Austria.
The Adult Vaccines Global Market Report 2023 covers regional data on adult vaccines market size, adult vaccines market trends and drivers, opportunities, strategies, and adult vaccines market competitor analysis. The countries covered in the adult vaccines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Adult vaccinations are those used to stimulate an immune response against a disease-causing organism in adults. These vaccines are used to prevent and cure diseases like influenza, pneumococcal disease, and herpes simplex.
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