Dublin, Dec. 13, 2018 (GLOBE NEWSWIRE) -- The "Vaccines Market by Technology (Live, Toxoid, Recombinant), Disease (Pneumococcal, Influenza, HPV, Hepatitis, Meningococcal, Rotavirus, Polio, MMR, Varicella, Dengue), Route (IM/SC, Oral), Patient (Pediatric, Adult), Type - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The vaccines market is expected to reach USD 50.42 billion by 2023 from USD 36.45 billion in 2018, at a CAGR of 6.7%
Rising prevalence of diseases, increasing government and nongovernment funding for vaccine development, and increasing company initiatives to enhance R&D are driving the growth of the vaccines market. On the other hand, market growth may be hindered due to the high cost of vaccine development.
Monovalent vaccines segment expected to hold the largest share of the market in 2018.
Based on type, the vaccines market is segmented into monovalent vaccines and multivalent vaccines. The monovalent segment is expected to dominate this market with the largest share due to increasing investments by companies to develop new vaccines.
Pneumococcal disease segment is expected to hold largest share of the market in 2018
Based on the disease indication, the vaccines market is segmented into pneumococcal disease, influenza, DTP, hepatitis, human papillomavirus (HPV), rotavirus, meningococcal disease, MMR (measles, mumps, and rubella), varicella, polio, herpes zoster, dengue, and other disease indications. The pneumococcal segment is expected to account for the largest share of the vaccines market in 2018. The large share of this segment can primarily be attributed to increasing government investments in pneumococcal vaccination programs and high incidence of pneumococcal diseases.
Asia to witness high growth during the forecast period
In 2018, North America is expected to account for the largest share of the market followed by Europe. However, Asia is expected to register the highest CAGR during the forecast period. The high growth in this segment is attributed to the increasing investments by companies in India and China, rising disposable income, growing number of awareness programs and symposia, and growing venture capital investments.
List of companies profiled in the report
- GlaxoSmithKline plc (US)
- Pfizer, Inc. (US)
- Merck & Co., Inc. (US)
- Sanofi Pasteur SA (France)
- CSL Limited (Australia)
- Emergent BioSolutions, Inc. (US)
- Johnson & Johnson (US)
- MedImmune, LLC (US)
- Astellas Pharma Inc. (Japan)
- Serum Institute of India (India)
- Bavarian Nordic (Denmark)
- Mitsubishi Tanabe Pharma Corporation (Japan)
- Daiichi Sankyo Company, Limited (Japan)
- Biological E (India)
- Panacea Biotec (India)
For more information about this report visit https://www.researchandmarkets.com/research/z944cb/global_vaccines?w=12
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