Vaccines Market is expected to reach at a CAGR of 6.7% | Key Players: GlaxoSmithKline, Pfizer, CSL

According to new research report “Vaccines Market by Disease (Pneumococcal, Influenza, DTP, HPV, Hepatitis, Meningococcal, Rotavirus, Polio, MMR, Varicella, Dengue), Technology (Live, Toxoid, Recombinant), Route (IM/SC, Oral), Patient (Pediatric, Adult), Type – Global Forecast to 2023”, t

The global 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%.

Major Key Players in This Report Include,

 GlaxoSmithKline plc (UK), 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, Bavarian Nordic (Denmark), Mitsubishi Tanabe Pharma Corporation (Japan), and Daiichi Sankyo Company, Limited (Japan).

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Market Dynamics

Drivers

• High prevalence of infectious diseases

Restraints

• High cost of vaccine development

Opportunities

• High growth prospects in emerging markets

Challenges

• Inadequate access to vaccines

The following are the major objectives of the study:

• To define, describe, and forecast the global market on the basis of technology, type, disease indication, route of administration, and patient type
• To describe and forecast the market, in terms of value, by region–Asia, Europe, North America, and Rest of the World (RoW) along with their respective countries
• To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and challenges)
• To strategically analyze micromarkets with respect to individual growth trends,

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Major Developments

• In 2016, Pfizer collaborated with Western Oncolytics to advance Western Oncolytics’ novel oncolytic vaccinia virus.
• In 2016, GlaxoSmithKline collaborated with Vaccine Research Center at the NIH (US) to evaluate a new vaccine technology for Zika, known as SAM.
• In 2017, Merck collaborated with Premier, Inc. (US) to develop a preventive care model that seeks to improve adolescent and adult vaccination rates.

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