The Business Research Company’s Vaccines Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, August 2, 2021 /EINPresswire.com/ — Rising awareness on immunization and vaccination benefits in emerging markets is consistently driving the global vaccines market growth. World Health Organization (WHO) is taking initiatives to increase awareness of immunization through global vaccine action plan (GVAP) and global immunization vision and strategy (GIVS). They aim to strengthen routine immunization, control morbidity and mortality from vaccine preventable diseases and help countries to immunize more people with a greater range of vaccines. The Organization accomplishes this work through its biological programme, the WHO Collaborating Centers, and the WHO Expert Committee on Biological Standardization (ECBS). In 2019, according to the WHO, approximately 85% of infants globally (116 million infants) received 3 doses of diphtheria-tetanus-pertussis (DTP3) vaccine, protecting them against infectious diseases that can cause serious illness and disability or be fatal. Furthermore, 125 countries reached at least 90% coverage of the DTP3 vaccine in 2019.
The global vaccine market size is expected to decline from $56.02 billion in 2020 to $55.97 billion in 2021 at a compound annual growth rate (CAGR) of -0.1%. The slow decline is mainly due to the outbreak of COVID-19 that has led to deferment of immunocompromised treatments. The vaccine industry worth is expected to reach $85.93 billion in 2025 at a CAGR of 11.3%.
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The vaccines market consists of sales of vaccines and related services. This industry includes establishments that produce anti-infective vaccines, autoimmunity vaccines and vaccines for cancer and other diseases. Vaccines create antibody-antigen reaction that helps in attaining resistance to the disease-causing organism.
TBRC’s vaccines market report is segmented by type into anti-infective vaccines, autoimmunity, others (cancer and others); by technology into conjugate vaccines, inactivated and subunit vaccines, live attenuated vaccines, recombinant vaccines, toxoid vaccines; by route of administration into intramuscular (IM), subcutaneous (SC), oral, others; by valance into monovalent, multivalent; by distribution channel into institutional sale, hospital pharmacies, retail pharmacies.
Major players in the vaccines & vaccination market are AstraZeneca, Emergent Biosolutions, GlaxoSmithKline, Merck, and Pfizer Inc.
Vaccines Global Market Report 2021: COVID-19 Impact And Recovery To 2030 is one of a series of new reports from The Business Research Company that provides vaccines market overview, forecast vaccines market size and growth for the whole market, vaccines market segments, and geographies, vaccines market trends, vaccines market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Source: EIN Presswire