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What Are the Projected Market Size and Growth Rates for the Ticovac Market From 2025 To 2029?

The market size for Ticovac has significantly expanded over the past few years. It’s predicted to rise from $4,010 million in 2024 to $4,310 million in 2025, demonstrating a Compound Annual Growth Rate (CAGR) of 7.6%. Factors contributing to the historic growth include increased public awareness, more travel to areas where the disease is endemic, growing veterinary concerns, an uptick in the elderly population, and increased vaccinations in the military and defense sectors.

What Is the Projected Market Size of the Ticovac Market?

There is an expectation for the Ticovac market size to surge significantly in the coming years, projecting to reach $5,700 million by 2029 with a Compound Annual Growth Rate (CAGR) of 7.3%. This potential growth during the forecast period is attributable to factors like an increase in the number of outdoor workers, elevation in healthcare spending, amplified focus on regional disease management, an upswing in health insurance coverage, and a rising rate of tick-borne encephalitis (TBE) instances. Major trends to be observed throughout the forecast period include, among others, technological innovation in vaccine production, the launching of new TBE vaccines, strategic partnerships between government bodies and pharmaceutical firms, progression in genetic research studies, and advancements in post-vaccination monitoring and care.

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Who are the Major Competitors in the Ticovac Market Outlook?

Major companies operating in the ticovac market include Pfizer Inc.

What Is Fueling Growth in the Ticovac Market?

The upsurge in tick-borne illnesses is anticipated to propel the ticovac market’s growth. Diseases stemming from ticks are transmitted to human beings through the bite of an afflicted tick, instigated by bacteria, viruses, or parasites. Factors such as climate change, advancing tick habitats, increased exposure to humans, and superior diagnostic methods result in the rise of tick-borne diseases. Ticovac is critical for treating tick-borne diseases, offering active immunization against potentially dire viral infections derived from tick bites such as tick-borne encephalitis (TBE). In the context of case prevalence, the Centers for Disease Control and Prevention, a governmental establishment in the US, reported 18.9 cases of Lyme disease per 100,000 of the population in February 2024, marking an increase of 68.8% from prior years. Among jurisdictions with high case prevalence, the median rate encountered a 58% surge at 68.3 cases per 100,000. In contrast, there were 16.5 cases per 100,000 among children aged from 5 to 9 years, indicating an 11.5% increase. This escalating prevalence of diseases transmitted by ticks is thus propelling the growth of the ticovac market. Moreover, the burgeoning research and development activities are projected to further step up the growth of the ticovac market. These endeavors entail methodical inquiries and novel inventions aiming at the creation of innovative products, refining existing ones, or development of new solutions and technologies through scientific research and technical investigation. Skyrocketing demands for innovation, technological progress, and the necessities to tackle global challenges in different industries contribute to the increase of research and development activities. These activities have a positive impact on TicoVac by contributing to the progress in vaccine formulation, enhancing effectiveness, and assuring its continued capability to counteract emerging strains of tick-borne encephalitis. For example, the Department of Health and Social Care in the UK reported in July 2024 that the business sector spent $11.3 billion (£9.0 billion) on pharmaceutical research and development in 2022, which amounted to 0.36% of UK’s GDP. That year, pharmaceutical R&D accounted for 18% of all business-conducted R&D in the UK, the largest proportion among all product sectors. Therefore, the growing research and development activities are pushing forward the growth of the ticovac market.

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Which Ticovac Market Segments Are Growing the Fastest?

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

Which Industry Trends Are Shaping the Future of the Ticovac Market?

The predominant trend within the Ticovac market is the emphasis on developing innovative formulations including suspension liquid, to secure a stronger industry position. The suspension liquid is a form of vaccination designed for the prevention of tick-borne encephalitis, and is designated for intramuscular injection. It is issued in a 0.5 mL dose, suitable for adults and children alike. For example, Pfizer Inc., a pharmaceutical manufacturer based in the US, rolled out Ticovac, an innovative vaccine targeting tick-borne encephalitis (TBE), which is a viral infection impacting the brain and spinal cord, in September 2024. This revolutionary vaccine first debuted in Japan, providing essential protection against the infection in epidemic regions. The vaccine comes in two variations, one dedicated to adults and another for children, both available in a 0.5 mL intramuscular dose.

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Which Countries Are Leading 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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This Report Delivers Insight On:

1. How big is the ticovac market, and how is it changing globally?

2. Who are the major companies in the ticovac market, and how are they performing?

3. What are the key opportunities and risks in the ticovac market right now?

4. Which products or customer segments are growing the most in the ticovac market?

5. What factors are helping or slowing down the growth of the ticovac market?

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