According to Renub Research report titled, “Adult Vaccine Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis” the Global Adult Vaccine Market is estimated to reach USD 18.8 Billion by 2021. Over the years, vaccine-preventable diseases have been killing thousands of adults each year worldwide. Vaccines, surprisingly, are used to prevent infections and boost the body's immunity. Hence, adult vaccination has become one of the most cost-effective public health interventions accessible today. Moreover, it is also a biological preparation that comprises an agent that looks like a disease-causing germ created from weakened and destroyed microorganisms.
Global Adult Vaccine Industry Is Projected to Grow with A CAGR of 6% From 2021-2027:
Some of the major drivers for the global adult vaccines market are increased illness prevalence and novel vaccination technologies. Furthermore, increased research in the field of vaccine technology and increasing government backing are all contributing to the global adult vaccines market's growth. Several government agencies are funding and granting research on customized vaccinations to improve their efficacy and disease-prevention potential.
In addition, some government organizations are putting in place particular requirements for their safe practices. Increased R&D investment by pharmaceutical and biopharmaceutical companies and widespread R&D pipelines are expected to help move the worldwide adult vaccines market forward.
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Disease wise – Adult Vaccines Market & Numbers of Adults Vaccinated:
In our report, Coronavirus (COVID-19), Influenza, Cervical Cancer (HPV), Zoster (Shingles), MMR (Measles, Mumps, and Rubella Vaccine), Pneumococcal, Meningococcal, Hepatitis, TdaP, and Varicella are the diseases included. Furthermore, due to the growing negative worries about prevalent infectious diseases, which are the leading causes of mortality and morbidity worldwide, the number of immunizations for various diseases is at an all-time high.
Further, the worldwide number of adult vaccines vertical has seen significant expansion due to the continual increase in demand for immunization against severe diseases such as cholera, typhoid, hepatitis, measles, chickenpox, and many others. On the other hand, several molecular entities are through substantial research and development stages and are aimed at immunizing against deadly diseases.
Key Players in the Global Adult Vaccine Industry:
The significant companies studied in the global adult vaccine market include GlaxoSmithKline, plc, Merck & Co.'s, Sanofi Pasteur's, Pfizer, Inc.'s, and Thoracic Aortic Aneurysm (TAA) CSL Limited's. As per our analysis, the key players are focusing on business expansion to increase their revenue share by implementing mergers and acquisitions and new product development strategies. For instance, GlaxoSmithKline plc announced in 2021 that they had submitted a (BLA) Biologics License Application to the US Food and Drug Administration for their investigational vaccine PRIORIX, requesting authorization to use it against measles, mumps, and rubella (MMR) in the United States. The vaccine was first registered in Germany and is now approved in more than 100 countries worldwide.
COVID-19's Impact on the Global Adult Vaccine Market:
The COVID-19 pandemic had a diverse impact on the global adult vaccine industry. Vaccination rates for some vaccines have decreased. On the other hand, vaccination rates for a few vaccines, such as flu vaccines, have increased. The introduction of COVID-19 vaccines has significantly impacted the vaccine industry's overall growth. Furthermore, we aim to see the global adult vaccines market to quantify the health, economic, and social benefits of vaccines and immunization programs to individuals and society.
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- Disease Wise: We have analysed the market for Influenza, Cervical Cancer (HPV), Zoster (Shingles), MMR (Measles, Mumps, and Rubella Vaccine), Pneumococcal, Meningococcal, Hepatitis, TdaP, Travel and Miscellaneous, Varicella)
- Numbers of Vaccinated Adults: We have covered the numbers of vaccinated adults for Influenza, Meningococcal, Cervical Cancer (HPV), MMR (Measles, Mumps, and Rubella Vaccine), Pneumococcal, Zoster (Shingles), Hepatitis, TdaP, Varicella.
- Company Analysis: The key players covered in our report are GlaxoSmithKline, plc., Merck & Co., Sanofi Pasteur’s, Pfizer, Inc., Thoracic Aortic Aneurysm (TAA) CSL Limited.
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