Global Vaccines Market to Soar at a CAGR 9% to 2024: Growth Factors & Trends

Global Vaccines Market is Projected to grow at 9% CAGR during the period 2017-2024. Vaccines Industry research report also provides granular analysis of the market share, Size, segmentation, revenue forecasts and geographic regions of the market.

Increasing disease prevalence in underdeveloped countries coupled with growing incidence of cancer & HIV will serve as high impact rendering factor for the business growth. High cost and inadequate reimbursement coverage for vaccines will hamper industry expansion. Moreover, stringent government regulations for product approval will further restrain business growth.
Global Vaccines Market is set to exceed USD 65 billion by 2024; as per a new research report.

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Introduction of innovative technologies in vaccination, rising government support for product development will stimulate global vaccines market growth over the coming years. Growing awareness towards preventive vaccination in pediatric and increasing adoption of therapeutic vaccines in cancer treatment will fuel industry growth.

Pediatric will grow at a significant rate over the forecast period owing to CDC recommendation for immunization schedule to protect children and infants before getting exposed to potentially life-threatening diseases.
Influenza will witness considerable growth due to growing incidence, mounting number of disease-causing microbes (pathogens) and rising awareness in emerging economies towards disease prevention. Availability of vaccines at affordable prices in hospitals and clinics will augment the segment growth.

U.S. vaccines market will witness significant growth over the forecast period pertaining to enormous impact of immunization on improving health of children and protecting them with vaccines due to epidemics of preventable diseases like mumps, pertussis, and measles.

Some of the companies operating in industry are Abbott, AstraZeneca, Astellas Pharma, Bristol-Myers Squibb, CSL, Emergent BioSolutions, GlaxoSmithKline, Johnson & Johnson, Merck & Co., Novartis, Novavax, Pfizer and Sanofi Pasteur.

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India will witness lucrative growth due to improved efficiency of immunization programs and technological advancements in vaccine storage and transport. Rising per capita income, improved healthcare infrastructure and growing healthcare expenditure will promote business growth.

China vaccines market will grow at a substantial rate owing to rising disposable income, rapid economic growth, rising number of unvaccinated migrant workers, and delivery of efficient healthcare services.

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Growth drivers
Increasing government funding for vaccine development
Increasing vaccines R&D in developed nations
Increasing disease prevalence in underdeveloped countries
Growing incidences of cancer & HIV in Asia Pacific

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