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Global Vaccines Market 2020-2024 | Evolving Opportunities with Bavarian Nordic AS and Pfizer Inc. | Technavio

January 6, 2020 GMT
Global Vaccines Market 2020-2024 | Evolving Opportunities with Bavarian Nordic AS and Pfizer Inc. | Technavio
Global Vaccines Market 2020-2024 | Evolving Opportunities with Bavarian Nordic AS and Pfizer Inc. | Technavio

LONDON--(BUSINESS WIRE)--Jan 6, 2020--

The global vaccines market is expected to grow by USD 13.81 billion during 2020-2024, progressing at a CAGR of close to 7% during the forecast period. The growth can be attributed to the increased funding for vaccine development and the rising use of adjuvants in vaccines. Furthermore, approval of newly developed vaccines and development of a strong pipeline will also drive the vaccines market during the forecast period. Request a free sample report

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Technavio has announced its latest market research report titled global vaccines market 2020-2024. (Graphic: Business Wire)

Read the 160-page report with TOC on “Vaccines market research report by Type (prophylactic vaccines and therapeutic vaccines), Geography (Asia, Europe, North America, and ROW), and the Segment Forecasts, 2020-2024”.

Vaccines Market Type Outlook (Revenue, USD Million, 2020-2024)

Prophylactic vaccines were the largest vaccine type segment in the market during 2019 due to their rising demand for treating and preventing infectious diseases, including Diptheria, tetanus, Hepatitis A, Hepatitis B, and other chronic conditions. Researchers are also evaluating novel approaches for the development of prophylactic vaccines, including live attenuated vaccines, inactivated vaccines, recombinant vaccines, and toxoid vaccines, which will drive the growth of prophylactic vaccines segment during the forecast period.

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Vaccines Market Regional Outlook (Revenue, USD Million, 2020-2024)

North America was the fastest-growing geographic segment in 2019, followed by Europe, Asia, and ROW, respectively. This can be attributed to the increase in the number of immunization programs and prevalence of chronic diseases, particularly in the US. The region is anticipated to contribute largest vaccine market share due to the continuous development of therapeutic and preventive vaccines for different chronic health conditions, including influenza, HIV, measles, tuberculosis, and other non-infectious diseases. Furthermore, several initiatives are being undertaken to create awareness about immunization programs by different authorized organizations in the US. All these factors will contribute to the dominance of the market throughout the forecast period.

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Major Five Vaccine Companies:

Bavarian Nordic AS

Bavarian Nordic AS offers vaccines used for the prophylaxis of various diseases, including smallpox through its Pharmaceuticals business segment. The company provides IMVAMUNE/IMVANEX, an MVA-BN non-replicating smallpox vaccine intended for use in adults, allergic to the replicating smallpox vaccines during an emergency smallpox outbreak.

Pfizer Inc.

Pfizer Inc. operates the business across segments such as Innovative Health and Essential Health. The company offers PREVNAR 13, a pneumococcal conjugate vaccine used to protect infants, young children, and adults against disease caused by the bacterium Streptococcus pneumoniae.

Sanofi

Sanofi is a France-based healthcare company offering products and services through central business units including Pharmaceuticals, Vaccines, and Consumer Healthcare. In June 2019, the company and Google LLC collaborated to establish a new virtual innovation lab with the ambition to radically transform the delivery of future medicines and health services by tapping into the power of emerging data technologies. The company offers Pentacel, PENTAXIM, VAXIGRIP, FLUZONE, Menactra, Flubok, and Adacel for the global vaccines market.

GlaxoSmithKline Plc

GlaxoSmithKline Plc operates in critical business units including Pharmaceuticals, Vaccines, and Consumer Healthcare. In August 2019, the company) entered into an exclusive agreement with Sabin Vaccine Institute to advance the development of prophylactic candidate vaccines against the deadly Ebola Zaire, Ebola Sudan, and Marburg virus. The company’s key offerings for the global vaccines market include Ambirix, BEXSERO, BOOSTRIX, and CERVARIX.

Merck & Co. Inc

Merck & Co. Inc offers different types of human vaccines and animal vaccines through crucial business units including Pharmaceuticals, Animal health, and Others. The company provides GARDASIL 9, ProQuad, VARIVAX, PNEUMOVAX 23, and ZOSTAVAX.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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KEYWORD:

INDUSTRY KEYWORD: MEDICAL DEVICES HEALTH

SOURCE: Technavio Research

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PUB: 01/06/2020 09:30 AM/DISC: 01/06/2020 09:30 AM

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