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Classified in: Health, Covid-19 virus
Subject: MRR

Vaccines Market to Reach $72.12 Bn, Globally, by 2031 at 6.6% CAGR: Allied Market Research


Surge in investment toward development of new vaccines drives the growth of the global vaccines market.

PORTLAND, Ore., July 4, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Vaccines Market by Technology Type (Recombinant & Conjugate Vaccines, Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, and Other Vaccines), Indication (Pneumococcal Disease, Influenza, Human Papilloma Virus, Meningococcal Disease, Rotavirus, Varicella, Measles, Mumps, & Rubella {MMR}, Diphtheria, Pertussis, & Tetanus {DPT}, Polio, Hepatitis, and Other Indications), and End User (Pediatric, Adults, and Travelers): Global Opportunity Analysis and Industry Forecast, 2021??2031." According to the report, the global vaccines industry was estimated at $38.06 billion in 2021, and is anticipated to hit $72.12 billion by 2031, registering a CAGR of 6.6% from 2022 to 2031.

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Determinants of growth-

Surge in investment toward development of new vaccines drives the growth of the global vaccines market. Several efforts undertaken by different organizations across the world have supplemented the growth even more. Moreover, increase in administration of vaccines has created a number of lucrative opportunities in the industry.

Covid-19 Scenario-

The recombinant & conjugate vaccines segment to dominate by 2031-

Based on technology, the recombinant & conjugate segment accounted for more than two-fifths of the global vaccines market share in 2021, and is anticipated to rule the roost by 2031. The same segment would also cite the fastest CAGR of 7.5% throughout the forecast period. Increase in number of regulatory clearances and significant role of recombinant vaccines like glycoconjugates vaccine in the market propel the growth of the segment.

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The pneumococcal disease segment to maintain the lion's share-

Based on indication, the pneumococcal disease segment held nearly one-fifth of the vaccines market revenue in 2021, and is expected to lead the trail by 2031. Introduction of novel pneumococcal vaccines in the market, initiatives taken by governments such various immunization programs for pneumonia, and rise in awareness among patients regarding pneumococcal vaccines drive the segment growth. The human papilloma virus segment, however, would manifest the fastest CAGR of 10.8% from 2022 to 2031. This is attributed to the rising incidence of diseases associated with HPV.

North America garnered the major share in 2020-

Based on region, North America held the major share in 2021, generating more than two-fifths of the global vaccines market, due to the expanding construction sector, due to investments made by several key players for various R&D activities as well as launch of new products in the United States. At the same time, the market across Asia-Pacific would grow at the fastest CAGR of 8.1% by 2031. This is owing to high burden of diseases, increase in affordability, and improvements in healthcare access in developing countries such as India and China.

Key players in the industry-

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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