The Global Combination Vaccines Market Size is valued at 4.56 billion in 2022 and is predicted to reach 10.11 billion by the year 2031 at a 9.5% CAGR during the forecast period for 2023-2031.
The growth of the market for combination vaccines is being driven by an increase in the world's pediatric population. In addition, a different factor, such as the prevalence of infectious diseases, is favorably affecting market expansion. The frequency of viral diseases including polio, smallpox, chickenpox, tetanus, diphtheria, and measles among youngsters also contributed to the market's rise. Market expansion is anticipated to be adversely affected by worries about the safety profile of tetanus, diphtheria, and pertussis combination vaccine.
Emerging markets and significant governmental and private sector investments in research and development are the main forces behind the market's expansion. The convenience of combination vaccinations, increased research and development to create combination vaccines for other diseases, and less severe side effects all help to expand the market.
The fear of bioterrorism and strict regulatory requirements for getting the approval of novel Combination Vaccines are the main obstacles to the global market for combination vaccines. Bioterrorism is the use of biological weapons like bacteria, fungi, and viruses to endanger human life. The unpredictable nature of these biological agents makes control over them challenging. Because immunizations are a simple way for bioterrorism to spread, regulatory authorities actively watch the production of vaccines to catch any mistakes.
Competitive Landscape:
Some of the Combination Vaccines market players are:
- Sanofi Pasteur,
- GlaxoSmithKline (GSK),
- Merck & Co., Inc.,
- Panacea Biotec,
- Sinovac Biotech,
- Serum Institute of India,
- Beijing Minhai Biological Technology Co., Ltd.,
- Novavax
Market Segmentation:
The Combination Vaccines market is segmented based on technology, age group, application, and end-use. Based on technology, the market is segmented as conjugate, live, and inactivated. The age group segment includes pediatric, and adult. By application, the market is segmented into diphtheria, tetanus, and pertussis. The end-user segment includes hospitals and clinics.
Based On Technology, The Inactivated Segment Accounted For A Major Contributor In The Combination Vaccines Market
The market for inactivated vaccines is predicted to expand over the forecast period as a result of their widespread recognition as effective human combination vaccines. Additionally, because it is stable and can be stored and transported easily in lyophilized form, the inactivated vaccine is the ideal choice for the treatment of infectious disorders. For instance, the World Health Organization's Global Vaccine Market report estimates that the demand for D&T vaccine (Diptheria and Tetanus) was 945 million doses in 2017, with DTWP-HepB-Hib vaccine making up 33% of the total D&T vaccine.
The Pediatric Segment Witnessed Growth At A Rapid Rate
The market for combination vaccines was dominated by the pediatric category, which is anticipated to expand significantly throughout the study period. The growing pediatric population will hasten corporate expansion. There is an increasing need for efficient immunization methods to shield kids from various diseases as the pediatric population grows. The sector will increase as a result of the rising need for vaccinations. The creation of safer and more effective combination vaccines for children has also been made possible by improvements in vaccine technology and production capacities, adding to the industry statistics.
In The Region, The North America Combination Vaccines Market Holds A Significant Revenue Share
The market expansion of the human combination vaccination in North America is driven by an increase in R&D efforts and rising technical developments. For instance, in North America, 201three licensed DTaP combinations were easily accessible for giving children immunity against whooping cough (acellular pertussis), diphtheria, and tetanus. Infanrix, made by GlaxoSmithKline, and Tripedia and Daptacel, made by Sanofi Pasteur, are examples of these combination vaccines. Additionally, the North American area has easy access to the booster combination vaccines Boostrix and Adacel for use in adults, which fuels the market's expansion there for combination vaccinations.
Another element influencing the expansion of human combination vaccination is the U.S. government's strong participation in vaccine awareness campaigns. For instance, to improve access to COVID-19 vaccines, the Baker-Polite Administration teamed up with the Museum of Science, Boston on May 25, 2021. The government disclosed an investment of USD 4.7 million for its Vaccine Equity Initiative.
Combination Vaccines Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 4.56 Bn |
|
Revenue Forecast In 2031 |
USD 10.11 Bn |
|
Growth Rate CAGR |
CAGR of 9.5 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Technology, Age Group, Application, And End-Use |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; South East Asia |
|
Competitive Landscape |
Sanofi Pasteur, GlaxoSmithKline (GSK), Merck & Co., Inc., Panacea Biotec, Sinovac Biotech, Serum Institute of India, Beijing Minhai Biological Technology Co., Ltd., and Novavax. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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