The North American Preventive Vaccine Market size was worth USD 16.40 Billion in 2022 and is expected to reach USD 29.63 billion by the end of 2027, growing at a CAGR of 12.56% between 2022 to 2027.
While the preventive vaccine accounts for only 5 % of the global pharmaceuticals market, there has been substantial growth in recent years due to rising incidences of HIV cases and cancer. World Health Organization growth estimations indicate the market may increase at a tremendous rate by introducing new therapeutic, preventive, and adult vaccines.
Vaccination is the process of injecting the vaccine given to stimulate the immune system of an individual. Despite being a small one, the Vaccine market is being exploited by multinational companies due to its growth at a faster rate. There are as many as 120 new vaccines in the pipeline of many major companies and are set to hit the market worldwide in the coming years.
The rise in the frequency of occurrence of infectious diseases, the invention of new vaccines for every other disease, and the increase in the funding for vaccine development help drive the growth of the preventive vaccine market. The rise of investments in the R&D department by the major players, technological advancements, and increasing occurrence of the disease is also helping the growth of the market.
Factors like huge capital investment, strict regulatory policies, and the high cost of treatment hinder the growth of the market.
This research report segmented and sub-segmented the North American Preventive Vaccines Market into the following categories:
By Vaccine Type:
Regionally, North America enjoys the major share of the therapeutic vaccine market due to the presence of advanced and active R&D establishments in the region. Multinational vaccine companies have historically conducted much of the innovation, research, and development in vaccine production.
The most promising companies operating in the North American Preventive Vaccine Market profiled in this 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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