As per our recently published report, the Preventive Vaccine Market size in the Asia Pacific is estimated to be growing at a CAGR of 13.89% during the forecast period. The market size is estimated to be worth USD 13.42 billion by 2027 from USD 7.00 billion in 2022.
Vaccines are products that work with the body's immune system to protect against dangerous infections, lowering the chance of contracting a disease. Vaccines for life-threatening infections have been developed, preventing around 2-3 million fatalities each year from diseases such as tetanus, diphtheria, pertussis, measles, and influenza.
The proliferation of infectious illnesses, greater awareness of preventive care, and increased research and development efforts drive the preventive vaccines market in APAC. Furthermore, introducing a new and novel vaccination gains the trust of patients and gives the market a fresh future, which can help the vaccine industry grow. The preventive vaccines market is projected to be driven by the rise in expenditure in the healthcare sector and evolving healthcare infrastructure in APAC. In addition, market participants in the vaccines market are implementing several strategic initiatives that are likely to benefit their companies in various ways while also propelling the vaccines market further.
Furthermore, introducing the new vaccine demonstrates that market participants are continually involved in vaccine market growth, implying that releasing innovative goods works as a growth driver for the vaccines industry. Moreover, increasing investment and funding by the government and private organizations to develop the healthcare sector in the region is providing lucrative growth opportunities for the new market entrants.
In some disease categories, such as polio, the preventive vaccinations industry has matured, but it has yet to establish itself in the market in others. Despite these variances in each sector, the market continues to develop due to varying degrees of increasing demand for vaccines for different diseases throughout time. Infectious diseases are among the leading causes of death in Asia. Therefore, scientists worldwide are actively doing research, exchanging information, expanding laboratory capacity in developing countries, and establishing monitoring networks to prevent and control the spread of these diseases by preventative vaccines. Additionally, due to the emergence of the global pandemic COVID-19, the demand for the new development of vaccines has been rapidly increased, especially new COVID-19 vaccines.
However, the regulation processes and document formation of the manufacturing companies in different countries can hamper the growth of the APAC preventive vaccine market.
This research report segmented and sub-segmented the Asia Pacific Preventive Vaccines Market into the following categories:
By Vaccine Type:
The APAC preventive vaccine market is one of the promising regions globally witnessing significant market revenue. The market is more likely to showcase a rapid share in the coming years. the market growth in the region is attributed to the proliferation of chronic diseases such as cancer, the development of new vaccines, and the availability of better healthcare services in the area. In addition, the presence of two highly populous nations such as China and India, are enormous share to the market growth and expanding the regional market growth. In the regional market, China dominated the preventive vaccine market. Major companies in the country are investing in development to vaccine development centers that are expected to introduce new vaccines into the market through which market expansion is possible. However, over the years, China has witnessed significant technology in the healthcare sector due to the increasing investment from government and non-government organizations. On the other hand, India is one of the fastest-growing countries in the Asia Pacific, contributing a good share to the regional market growth and improving the healthcare sector, increasing healthcare expenditure and supportive reimbursement policies encouraging the Indian preventive market growth.
KEY MARKET PLAYERS:
A few of the prominent companies operating in the APAC Preventive Vaccine Market profiled in the report are GlaxoSmithKline, PLC, Bavarian Nordic, Merck and Company, CSL Limited, Novartis AG, Emergent BioSolutions Inc., Johnson and Johnson, MedImmune, LLC., Pfizer, Inc. and Sanofi Pasteur.
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