PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1334618
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1334618
Global Viral Vaccines Market is valued at approximately USD 91.82 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 2.7 % over the forecast period 2023-2030. Viral vaccines are immunizations that are specifically designed to prevent viral infections. They stimulate the immune system to recognize and mount a protective response against specific viral pathogens, reducing the risk of infection or the severity of the disease if infection occurs. The increasing government initiatives to promote vaccination, the increasing development of new products against these diseases, as well as the rising geriatric population are the prominent factors that are spurring the market demand around the world.
The surge in the prevalence of viral diseases is directly influencing the demand for viral vaccines. The global burden of viral diseases, such as influenza, hepatitis, measles, mumps, rubella, and human papillomavirus (HPV), remains significant. The high incidence and impact of these diseases drive the demand for viral vaccines as preventive measures to control their spread and reduce the associated morbidity and mortality. According to the (WHO) article published in 2021 hepatitis B and C account for the majority of viral infections worldwide, with 3 million new cases and 3 million new subjects being reported annually. Thus, these aforementioned factors are propelling the growth of Viral Vaccines Market during the estimated period. Moreover, the technological advancements in vaccine development as well as increasing awareness and vaccination programs present various lucrative opportunities over the forecasting years. However, the limited reimbursement coverage and the high cost associated with the storage and transportation of vaccines are restricting the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Viral Vaccines Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing awareness and vaccination programs, rising technological advancements in vaccine development, and expanded vaccination coverage. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecasting years. The increasing prevalence of viral diseases, rising government initiatives to encourage vaccination, and development of healthcare facilities are significantly propelling the market demand across the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable