Tetanus Toxoid Vaccine Market Growth & Regional Trends 2024

"The Business Research Company recently released a comprehensive report on the Global Tetanus Toxoid Vaccine Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The tetanus toxoid vaccine market size has grown strongly in recent years. It will grow from $4.74 billion in 2023 to $5.08 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increasing awareness, rising incidence of tetanus cases, and government initiatives for immunization programs.

The tetanus toxoid vaccine market size is expected to see strong growth in the next few years. It will grow to $6.74 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to increasing investments in research and development, and expanding distribution networks. Major trends in the forecast period include advancements in vaccine technology, emerging markets, launches of new products and services, and growing demand for vaccines.

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Market Drivers and Trends:

The increasing pre term birth rates is expected to propel the growth of the tetanus toxoid vaccine market going forward. Preterm birth occurs when a baby is born before completing 37 weeks of gestation, potentially leading to various health challenges due to incomplete development. The preterm birth issue arises due to increased maternal age, lifestyle choices, medical interventions such as assisted reproductive technologies, maternal health conditions, and environmental factors. The rise in preterm birth rates drives the demand for tetanus toxoid vaccines as more newborns and infants require immunization to protect against tetanus and other preventable diseases. For instance, in January 2023, according to the Office for National Statistics, a UK-based governmental organization, the percentage of preterm live births saw a slight rise from 7.4% in 2020 to 7.5% in 2021. Therefore, the increasing pre term birth rates are driving the growth of the tetanus toxoid vaccine market.

Major companies operating in the tetanus toxoid vaccine market are developing advanced vaccines, such as the wP-IPV-based pentavalent vaccine, to enhance their product offerings and meet the growing demand for comprehensive immunization solutions. wP-IPV-based pentavalent vaccines are a combination vaccine designed to protect against multiple diseases with a single injection. It uses inactivated bacteria and viruses to stimulate immunity without causing disease. For instance, in December 2023, Panacea Biotec Limited, an India-based biotechnology company, launched EasyFourPol, a fully-liquid wP-IPV-based pentavalent vaccine. This innovative vaccine protects against five life-threatening diseases, including Diphtheria, Tetanus, Pertussis, Polio, and invasive infections caused by Haemophilus Influenza Type B. EasyFourPol is a ready-to-use combination vaccine that eliminates the need for on-site preparation by healthcare workers, offering the same level of protection as single-antigen vaccines.

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Major Key Players of the Market:

Sanofi S.A., Novartis AG, LG Chem Ltd., GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Merck KGaA, Astellas Pharma Inc., CSL Limited, Zoetis Inc., Meiji Holdings Company Ltd., Walvax Biotechnology, Shenzhen Kangtai Biological Products Co. Ltd., AJ Vaccines AS, PT Bio Farma, Serum Institute of India Pvt. Ltd., Bharat Biotech International Limited, Panacea Biotec Ltd., Amson Vaccines and Pharma Pvt Ltd., Incepta Vaccine Ltd., Mitsubishi Tanabe Pharma Corporation, BioNet-Asia Co. Ltd., Avalon Pharma Pvt. Ltd., Actiza Pharmaceutical Pvt. Ltd

Tetanus Toxoid Vaccine Market 2024 Key Insights:

• The tetanus toxoid vaccine market size is expected to see strong growth in the next few years. It will grow to $6.74 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• Increasing Pre Term Birth Rates on the Growth of the Tetanus Toxoid Vaccine Market
• Advancement in the Tetanus Toxoid Vaccine
• North America was the largest region in the tetanus toxoid vaccine market in 2023

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