Global vaccines market is expected to grow at a CAGR of XX% to reach market value of USD XXX million by 2026.
Vaccines are biological products, acquired immunity to a particular disease or these products protect people from severe and dreadful diseases. Unlike most other medicines to treat or cure disease, vaccines prevent them by developing immunity. Most of the vaccines are administered through injection (intravenous), a few are given orally and nasal route. The emerging infectious diseases include Middle East respiratory syndrome coronavirus (MERS-CoV), meningococcal disease, Ebola, avian flu, swine flu and most recently zika virus.
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Increase in emerging infectious diseases prevalence globally, and cost-effective immunizations are showing a significant impact on global Vaccines market and are also expected to remain high over the forecast period.
According to WHO in 2017, the annual epidemics in seasonal influenza globally estimated that 3-5 million cases of severe illness and about 290,000-600,000 respiratory deaths are observed.
According to Centre Of Disease Control And Prevention in 2016, there were about 360 total cases of meningococcal disease reported and most among the children below one year old followed by adults.
By Vaccines Type
The global vaccines market is segmented on vaccines type which includes influenza, measles, smallpox, yellow fever, hepatitis A, polio, shingles, and others. The other emerging diseases include ebola, avian flu, and most recently zika virus.
Measles dominated the vaccines type segment for global vaccines market and expected to remain dominant during the forecast period due to its global prevalence.
According to WHO in 2017, more than 6.7 million people affected with measles mostly children, and 110,000 died from the virus.
According to Centre Of Disease Control and Prevention and control, between 2017 and January 2018, 14,372 cases have been registered under European Surveillance System.
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North America dominates the global vaccines market in 2018, due to the increase in seasonal influenza viruses around the year in the U.S and government funding for research on effective vaccines.
According to Centers Of Disease Control and Prevention during 2017-18 flu season, it was estimated 80,000 Americans died due to seasonal flu, highest in last 40 years.
In 2018, omnibus bill a single document accepted in a single vote by legislature included $100 million monetary funds to National Institute Of Health (NIH) for the advanced development of universal influenza vaccine.
By age group
The global vaccines market is segmented on age group which includes pediatrics, adults, and geriatrics. Pediatrics dominates the global vaccines market due to its increase in need of polio vaccines and first stage of vaccines and government regulations.
Infants are sensitive towards vaccine-preventable diseases because of the early immune system development, therefore less able to fight against infection. The series of vaccinations include Hepatitis B, polio, DTaP and DTP vaccine, rotavirus. These provide best and safest protection against deadly diseases.
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New vaccine launch, joint ventures between major companies and FDA approvals on new vaccines are driving the global vaccines market.
In December 2018, Merck & company got FDA approval for a six disease combination vaccine vaxelis, for use in children up to the age of five years old.
In October 2018, FDA approved HPV vaccine which prevents cervical cancer, and other malignancies are extended for use in men and women aged between 27-45 years.
In April 2018, Emergent Biosolutionss acquired specialty vaccines company PaxVax.
In October 2017, FDA approved new shingles vaccine called Shingrix, used to treat blistering disease for the adult aged 50 and above.
In December 2016, international vaccine institutes invested $34million in Pennsylvania biotech inovio to expand its development into MERS-CoV vaccine.
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