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What key factors are powering the surge in the spikevax market right now?

Recent years have seen a significant surge in the market size of Spikevax, documenting an XX (HCAGR). Projected growth indicates an escalation from $XX million in 2024 to $XX million in 2025, with a compound annual growth rate (CAGR) of XX%. Factors such as the emergent necessity for COVID-19 vaccines during the pandemic, increased government financing, quick regulatory endorsements, global vaccination drives, high efficiency against SARS-CoV-2 and its variants, and amplified partnerships for mass production and circulation have all contributed to this historic period of growth.

How fast Is the spikevax market expected to grow, and what’s its future value?

The market size of Spikevax is projected to experience a compound annual growth rate (CAGR) of XX% and expand to $XX million by 2029. This growth during the forecast period can be associated with the intensification of booster shot initiatives, the emergence of fresh SARS-CoV-2 variants, and the rise in government contracts for pandemic preparedness. Increasing vaccination rates in low-to-middle income countries, the extension of vaccines to younger populations, and an increase in variant-specific regulatory approvals also contribute to this projection. The forecast period also sees certain trends gaining momentum, such as the creation of bivalent vaccines that can target multiple COVID-19 variants, improved vaccine storage systems, accelerated mRNA technology for quicker vaccine production, and the use of digital tools for tracking and monitoring vaccine distribution.

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What are the leading drivers of growth in the spikevax market?

The spikevax market is projected to expand due to the increasing instances of COVID cases. The disease known as COVID-19, which is caused by the SARS-CoV-2 virus, is spread via respiratory droplets and can result in symptoms ranging from a minor fever to severe complications with the respiratory system. Its transmission can be prevented with vaccines and proper hygiene. The escalation in the number of COVID cases may be attributed to factors like the emergence of new strains, diminished immunity, lifting of restrictions, indoor group meetings during seasons, and inconsistent vaccine distribution. The spikevax functions to treat COVID-19 by instructing the immune system to identify and fight the virus via a spike protein induced by mRNA, providing potent protection against severe diseases and variant strains. For instance, the UK’s Office for National Statistics, a government department in charge of official statistics, released a report in March 2023 indicating that up until that point an estimated 1.9 million individuals in the UK (approximately 2.9% of the nation’s population) were grappling with long-term COVID. The majority (92%) of these individuals had contracted COVID-19 over 12 weeks prior, while 69% had been experiencing symptoms for beyond a year and 41% for more than two years. Thus, the spikevax market is expected to be driven by the increasing prevalence of COVID cases.

What are the key segments defining the spikevax market?

The spikevax market covered in this report is segmented –

1) By Clinical Indication: COVID-19

2) By Formulation: Spikevax Original; Spikevax Bivalent (Original Or Omicron); Spikevax XBB.1.5

3) By Age Group: Adults; Adolescents; Children

4) By Distribution Channel: Government Channels; Hospitals; Clinics

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Who are the key players steering the development of the spikevax market?

Major companies operating in the spikevax market are Moderna Inc.

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Which regions are most influential in expanding the spikevax market?

North America was the largest region in the spikevax market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the spikevax market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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