Adult Vaccines Market is expected to Witness A Robust CAGR of 7.1% Over The Forecast Period 2017-2025 | Top Key Player like GlaxoSmithKline Plc, Merck & Co., Sanofi Pasteur, Pfizer, Inc., Johnson & Johnson, AstraZeneca Plc.
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Development of vaccines for various new diseases and rising awareness regarding advantages of preventive medication are the two prominent factors supporting growth of the market. For instance, according to the Centers for Disease Control and Prevention, 2015, flu vaccinations prevented around 1.9 million flu illnesses, 966,000 flu-associated medical visits, and around 67,000 flu-associated hospitalizations, representing 6.5% lowering of disease burden. However, high complexity in cost of manufacturing a vaccine is one of the major factors negatively affecting growth of the market.
Factors such as increasing number of government initiatives to prevent certain diseases and epidemic caused due to vaccine-preventable diseases. Additionally, increasing number of countries are conducting national immunization programs to provide vaccination and promote awareness regarding advantages of vaccination to fight fatal diseases with natural immunity among adults as well as children. For instance, in 2015, the Centers for Disease Control and Prevention (CDC), the Food and Drug Administration (FDA) and the National Institutes of Health (NIH) partnered with the U.S. Department of Health and Human Services Biomedical Advanced Research and Development Authority (BARDA) to support the advanced development of new and better influenza vaccines, as a part of inter-agency government effort in the U.S. Among the middle-income and emerging economies, relevant Indian government funding agencies such as Department of Biotechnology (DBT) and The Indian Council of Medical Research (ICMR) are scaling up their investments in research and development associated to vaccine development.
Market players are engaged in development vaccines to cater to diseases with high epidemic
Market players are increasingly focusing on developing vaccines that caters to diseases with highest probability of causing an epidemic. For instance, in February 2017, an India-based drug firm, Cipla, in collaboration with Serum Institute of India, introduced Hepatitis B vaccine for adults in the country. The disease affects chronically over 40 million people in the country, as per India’s Universal Immunization Programme. Moreover, Dynavax Technologies Corporation received FDA approval in 2018, for its two-dosed Hepatitis-B vaccine indicated for adults aged 18 years and older.
Global Adult Vaccines Market, By Vaccine:
Tetanus, Diphtheria, Pertussis (Td/Tdap)
Measles, Mumps, Rubella (MMR)
Global Adult Vaccines Market, By Vaccine Type:
Global Adult Vaccines Market, By Technology:
Live Attenuated Vaccines
Inactivated Viral/Bacterial Vaccines
Global Adult Vaccines Market, By Geography:
Top Key Players:
Key players operating in the global adult vaccines market include GlaxoSmithKline Plc, Merck & Co., Sanofi Pasteur, Pfizer, Inc., CSL Limited, Johnson & Johnson, Serum Institute of India, Medimmune, and AstraZeneca Plc.
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