Preventable Vaccines Market: Outline
The growing prevalence of infectious diseases across the world and the alarming need to control them may invite tremendous growth prospects for the preventable vaccines market across the assessment period of 2024-2030.
Infectious diseases are regarded as one of the most potent threats as it causes loss of lives and transmits among a large chunk of the populace. To prevent the same, vaccines are necessary. Hence, the preventable vaccines market may gain good prospects in this aspect.
A vaccine is defined as a substance used for generating immunity against various diseases through enabling antibodies production in the body. Vaccines trace back their origins to 1796 with smallpox being the first disease to be cured through one. A vaccine also protects an individual from future infections.
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Vaccines are available in various types such as toxoid vaccines, live/attenuated vaccines, subunit vaccines, inactivated vaccines, and others. Preventable vaccines protect the body from diseases like poliovirus, hepatitis, measles, mumps, rubella, influenza, pneumococcal, and others.
According to the World Health Organization (WHO), presently vaccines are available for more than 20 life-threatening diseases. These vaccines prevent 2-3 mn deaths every year from diseases like pertussis, measles, influenza, diphtheria, and tetanus.
The preventable vaccines market report helps the stakeholder to overcome the barriers of information and offers a detailed analysis of a plethora of segments such as competitive analysis, regional prospects, latest trends, and key growth drivers. The report generates awareness of the current market scenario and enables the stakeholders and CXOs to chalk out their business strategies accordingly.
The report also makes the stakeholders aware of the impact of the COVID-19 pandemic and the threats that have the potential to dent the market prospects. The exhaustive study conducted by the analysts also sheds light on the threats and challenges that the preventable vaccines market may face during the assessment period.
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Preventable Vaccines Market: Competitive Prospects
A plethora of companies are involved in the production of different types of vaccines across the globe. Every firm is committed to offer the best protection to the people through effective and safe vaccines. For this, extensive clinical trials and intense research and development activities are conducted.
As various companies gear up for an effective COVID-19 vaccine, many companies are leveling up their production capacities to accelerate the production of the vaccine once it gets approved by the concerned regulatory authorities. For instance, Novovax, a biotech company recently announced the expansion of facilities to develop its candidate vaccine against COVID-19. Similar developments are taking place and this aspect may eventually invite growth for the preventable vaccines market.
Some well-established players in the preventable vaccines market are Emergent BioSolutions Inc., Johnson & Johnson, AstraZeneca PLC, and Daiichi Sankyo Co. Ltd.
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Preventable Vaccines Market: COVID-19 to Bring Enormous Growth Prospects
The race for an effective and safe vaccine is in full force across the globe. Various companies are in the fray for discovering a good vaccine. Once a vaccine for COVID-19 hits the market, the preventable vaccines market may invite massive growth prospects.
Many companies are also forging partnerships and inking agreements with government regulatory authorities to accelerate vaccine development. For instance, GeoVax announced a license agreement with the National Institute of Allergy and Infectious Diseases (NIAID) to support vaccine development. Hence, such developments serve as growth multipliers for the preventable vaccines market.
Preventable Vaccines Market: Regional Perspective
North America may harness extensive growth for the preventable vaccines market and emerge as a dominant region across the assessment period of 2024-2030. The ongoing developments regarding the COVID-19 vaccine and great healthcare infrastructure in terms of vaccine inclusion across the United States of America may serve as significant growth factors.
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