According to the business intelligence report titled ‘Global Vaccines Market Size study, By Type (Conjugate vaccines, Inactivated and subunit vaccines, Live attenuated vaccines, Recombinant vaccines, Toxoid vaccines), By Technology (Monovalent vaccines, Multivalent vaccines), By Disease Indication (Pneumococcal disease, DTP, Influenza, HPV, Meningococcal disease, Polio, Rotavirus, Hepatitis, MMR, Varicella, Herpes zoster, Other disease indications), By Route of Administration (Intramuscular and subcutaneous administration, Oral administration, Other routes of administration), By Patient Type (Pediatric patients, Adult patients), and Regional Forecasts 2022-2028’, available with MarketStudyReport, global vaccines market which was worth USD 47.74 billion in 2021, is expected to amass a valuation of USD 76.67 billion by 2028, while progressing at a CAGR of 7% during the study period.

Increasing prevalence of infectious diseases, rise in government-funded immunization programs, and growing initiatives towards vaccine development are the pivotal factors driving the augmentation of global vaccines market.

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For the uninitiated, vaccines perform the function of boosting immunity against one or several diseases, by creating antibodies consisting of an agent that replicate the disease-causing microorganism. It is typically derived from a weakened or killed form of the microbe.

Furthermore, soaring inclination toward therapeutic vaccines is bound to act as a catalyst for industry expansion in the ensuing years.

Despite the positive outlook, the expensive nature of vaccine development may adversely affect the profitability graph of the business sphere over the forecast timeframe.

For deeper comprehension of the current situation and to give the stakeholders a better outlook on the growth prospects for the projected timeline, worldwide vaccines marketplace is bifurcated in terms of type, technology, disease indication, route of
administration, and patient type.

Geographically, North America is slated to retain a substantial market share in the forthcoming years, ascribed to growing prevalence of infectious diseases, and increase in investments by both government and non-government organizations for the development of novel vaccines in the region.

Meanwhile, Asia Pacific industry is expected to showcase notable growth during 2022-2028, owing to the presence of a large patient pool, rising government initiatives, and increase in healthcare expenditure in the area.

Considering the competitive framework, Mitsubishi Tanabe Pharma Corporation, Pfizer Inc., Johnson & Johnson, GlaxoSmithKline plc, Merck & Co. Inc., Sanofi Pasteur, Serum Institute of India Pvt. Ltd., Panacea Biotec Limited, CSL Ltd., and Emergent BioSolutions Inc. are the key players influencing global vaccines industry trends.