Global Conjugate Vaccine Market is expected to grow at a CAGR of 13.92% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Conjugate Vaccine Market by Type (Multivalent, Monovalent), Disease Indication (Diphtheria Tetanus Pertussis, Pneumococcal, Meningococcal, Influenza), Pathogen Type (Viral, Combination, Bacterial), Patient Stage (Adult, Paediatrics), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The conjugate vaccine market is expected to grow from USD 14.23 billion in 2019 to USD 40.32 billion by 2027, at a CAGR of 13.92% during the forecast period 2020-2027. North America is expected to witness significant growth in terms of technology, owing to the rise in demand for meningococcal vaccine, pneumococcal, and other vaccines. The market in Asia-Pacific region is projected to grow, attributing to increasing immunization initiatives by organizations like the World Health Organization in economies like China and India. In India, increasing focus on infectious diseases drives the market. Europe is anticipated to have a substantial growth for the conjugate vaccine.
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Some of the notable players in the market are Serum Institute of India, CSL Limited, Pfizer, Inc., Novartis AG, Merck and Company, Bharat Biotech, GlaxoSmithKline, plc., Sanofi Pasteur, Neuron Biotech, and Biological E. In March, Becton, Dickinson and Co. formed a joint venture to fund private equity firm Apax Partners and announces to sell 50.1% for its respiratory solutions.
The type segment includes multivalent and monovalent. The multivalent conjugate vaccine type segment is expected to witness significant growth, owing to the factors such as prevention of tetanus, diphtheria, hepatitis B, poliomyelitis, pertussis, and other invasive diseases. Also, the factors like awareness about immunization programs and increased funding for vaccine development drives the market. The disease indication segment includes diphtheria tetanus pertussis, pneumococcal, meningococcal, and influenza. The diphtheria tetanus pertussis segment dominates the market, due to high prevalence and highly contagious nature of the respiratory tract infection. Also, the pneumococcal segment is anticipated to grow, as it is the most attractive segment in the market. The pathogen type segment includes viral, combination, and bacterial. Based on patient stage, the market is segmented into paediatrics and adult. The paediatrics hols the largest market share, owing to the high prevalence of infectious diseases among children.
The factors driving the market are rise in a number of regulatory approvals for conjugate vaccines, rising prevalence of diseases caused by microorganisms like Neisseria meningitides and Streptococcus pneumonia, increase in the use of vaccines for adults, and technological advancement. Other factors influencing the market growth are growing efforts for the adoption of appropriate preventive screening methods and growth initiatives for the production of low-cost vaccines. Factors restraining the market growth are complex production procedure of conjugate vaccine, lack of awareness, and low accessibility to vaccines. Therefore, the market is anticipates to grow, due to the growing technology and adopting appropriate preventive screening methods.
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- CDN Newswire