Preventive Vaccines: the largest contributing global preventive healthcare market. The global Preventive Vaccines Market is estimated to be valued at US$ 42,660.2 Mn in 2022 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Preventive vaccines help protect people from serious infectious diseases before they come into contact with relevant pathogens. These vaccines boost immunity and have benefits like reducing disease transmission and outbreak frequency. Preventive vaccines target diseases such as measles, polio, and diphtheria to support preventive healthcare.
Market key trends
One of the key trends in the global preventive vaccines market is the high demand for combination vaccines due to their convenience and effectiveness. Combination vaccines make the vaccination process simpler by allowing healthcare providers to administer more than one vaccine in a single shot. This significantly reduces the number of injections or clinic visits required for full immunization. Combination vaccines ensure higher vaccination coverage and aid the preventive healthcare mission.
The global preventive vaccines market is segmented by disease indication, technology, route of administration, and end-user. By disease indication, the market is classified into pneumococcal disease, influenza, HPV, meningococcal disease, rotavirus, MMR, DTP, hepatitis, and other disease indications (polio, varicella, etc). The influenza segment dominates the market and accounted for the largest market share of 25% in 2021. This is because influenza impacts millions of people globally each year with varying severity and mortality rate.
The Global Preventive Vaccines Market Demand is expected to witness high growth, exhibiting a CAGR of 9.4% over the forecast period, due to increasing awareness about preventive healthcare and rising immunization programs worldwide.
By region, North America dominated the preventive vaccines market with a share of 40% in 2021. This is owing to the increased government funding for immunization programs and well-established healthcare infrastructure in the region. Asia Pacific is expected to exhibit the fastest growth during the forecast period. This is attributed to the rising initiatives by government and non-government organizations to spread awareness and increasing focus on immunization in developing countries like India and China.
Key players operating in the preventive vaccines market are Sanofi SA, Pfizer Inc., Novavax Inc., Merck & Co. Inc., Johnson & Johnson, GlaxoSmithKline PLC, Daiichi Sankyo Co. Ltd., Emergent BioSolutions Inc., AstraZeneca, and Takeda Pharmaceutical Company Limited, among others. Sanofi SA holds the leading market position owing to its wide range of vaccine portfolio against influenza, polio, and meningococcal disease among other infectious diseases.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it