Press release
Mumps Vaccine Market Expected to Reach $3.5 Billion by 2031
Mumps Vaccine Market
๐๐ข๐ฌ๐ญ ๐จ๐ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ :
Merck & Co., Inc., Serum Institute of India Pvt. Ltd., Actiza Pharmaceuticals, GlaxoSmithKline plc
๐ ๐จ๐ซ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ https://www.alliedmarketresearch.com/purchase-enquiry/15770
Though presence of several factors drives the growth of mumps vaccine market, few factors also act as a restraint to the market. Factors such as excessive cost and complex procedures associated with the manufacturing and development of vaccines provide a hindrance to the growth of the market. In addition, stringent rules and regulations associated with the development and distribution of mumps vaccines act as a restraint to the market.
The mumps vaccine market size is segmented on the basis of age group, distribution channel, and region. By age group, the market is bifurcated into pediatric and adult. The pediatric segment was the highest contributor to the market in the year 2021 and is expected to grow at the fastest CAGR of 6.1% during the forecast period. The growth of the segment is attributed to rise in awareness about the mumps vaccination in pediatric population in the developed and developing regions.
By distribution channel, the market is categorized into hospitals & clinics and vaccination centers. In 2021, the hospitals and clinics segment held the largest mumps vaccine market share of the global mumps vaccine market and is expected to grow at the highest CAGR during the forecast period, which is mainly driven by the considerable number of patient visits to the hospitals for mumps vaccination after the pandemic.
North America acquires the major mumps vaccine market share in terms of revenue of the mumps vaccine market in 2021, owing to the prevalence of large number of mumps cases in U.S. and other major regions of North America. On the other hand, Asia-Pacific is expected to register fastest growth with the highest CAGR of 8.6% during the forecast period.
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