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DTP Vaccines Market Dynamics: A Comprehensive Report for 2024
DTP Vaccines Market Segments
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According to The Business Research Company's, The dtp vaccines market size has grown strongly in recent years. It will grow from $6.13 billion in 2023 to $6.56 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to increase in healthcare access, continuous protection towards infectious diseases and rising awareness of immunization.
The dtp vaccines market size is expected to see strong growth in the next few years. It will grow to $8.63 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to strong late-stage pipeline and new drug approvals, increased healthcare expenditure and immunization policies to eradicate endemic diseases. Major trends in the forecast period include focusing on development of combination vaccines, investing extensively in r&d activities, using artificial intelligence (ai) in vaccine development and focusing on strategic acquisitions.
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Market Drivers and Trends:
Governments all over the world are encouraging the development of DTP vaccines in order to prevent the spread of the disease. Countries such as India have the Universal Immunization Programme that aims to provide recommended vaccines against tuberculosis, polio, and other diseases including diphtheria, tetanus, and whooping cough for all Indian children. The country regularly conducts vaccination drives, which are expected to positively impact the growth of the market. These initiatives are expected to drive the growth of the market in the forecast period.
Major companies operating in the diphtheria, tetanus, and pertussis (DTP) vaccine market are focusing on developing innovative vaccines such as BOOSTRIX to gain a competitive edge in the market. BOOSTRIX is a vaccine used to help protect adolescents (ages 10-18) and adults against certain diseases caused by bacteria called Bordetella pertussis, diphtheria, and tetanus. It's a combination vaccine that helps prevent whooping cough (pertussis), diphtheria, and tetanus. For instance, in October 2022, GSK plc, a UK-based biotechnology and pharmaceutical company, launched BOOSTRIX, which received approval from the US Food and Drug Administration (FDA). This is the first vaccine that has been specifically licensed for use by pregnant women to protect unborn children from illness. It enhances the mother's antibodies, which are passed on to the growing baby when given during pregnancy.
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Major Key Players of the Market:
GlaxoSmithKline, Sanofi, Merck & Co Inc, Meiji Holdings Co., Ltd, Shenzhen Kangtai Biological Products, Serum Institute of India Pvt Ltd, Sun Pharmaceutical Industries Ltd, AJ Vaccines, PT Bio Farma, Bio Med, Sinergium Biotech SA, Teuto Brasileiro, Amgen, Roche, BioFabri, Sinopharm, Chongqing Zhifei, Hualan Biological Engineering Inc, Ezequiel Dias Foundation (FUNED), BioKangtai, Uniao Quimica, Valneva SE, The Abu Dhabi Health Services Company (SEHA), ImevaX GmbH, Cristalia, Bharat Biotech, Bio-Manguinhos-Institute of Technology on Immunobiologicals, Connaught Laboratories Inc, Biolab Farmaceutica, Massbiologics, Beijing Tiantan Biological Products Co Ltd, Butantan Institute, C.R.I. Kasauli, Bayer, Pfizer, Abbott Laboratories, Serum Institute of India Pvt Ltd, Novartis, Wyeth-Ayerst, Dano Vaccines, Merck Serono Middle East, Hypermarcas, AstraZeneca, Grifols, Sinovac Biotech Ltd, AbbVie Inc, Apotex, GreenSignal Bio Pharma Private Limited (GSBPL), Teva Pharmaceutical Industries Ltd F. Hoffmann-La Roche AG, Boehringer Ingelheim, CanSino Biologics, Gilead Sciences, Panacea Biotec Ltd, Fiocruz, Johnson & Johnson, Walvax biotechnology, BioNTech, EMS Pharma, Mylan, National Administration of Laboratories and Institutes of Health (ANLIS), Zentiva, Afrigen Biologics & Vaccines
DTP Vaccines Market 2024 Key Insights:
• The dtp vaccines market size is expected to see strong growth in the next few years. It will grow to $8.63 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
• Government Initiatives Propel Development And Adoption Of Dtp Vaccines
• Innovative In Vaccine Paving The Way For Enhanced Protection Of Adolescents, Adults, And Unborn Children
• North America was the largest region in the DTP vaccines market in 2023
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