Live Attenuated Vaccines Market Size 2022–2030 Growing with a Tremendous CAGR
Global Live Attenuated Vaccines Market – Overview
Global live attenuated vaccines market size report projects the industry to reach USD 42,645.5 million by 2030 with an approximate CAGR of 12.3% from 2022 to 2030.
A variety of vaccines are available in the market to train the immune system how to fight off certain kinds of germs and the serious diseases they cause. The developmental procedure of vaccines depends upon various factors including immune system responds to the antigen, type of vaccination needed, cost of manufacturing. Thus, based on methodology and technique, vaccine is classified into live-attenuated vaccines, inactivated vaccines subunit, recombinant vaccines, polysaccharide, and conjugate vaccines, and toxoid vaccines. Live vaccines when have weakened (attenuated) form of the antigen, then it is referred to as attenuated vaccine. The advantage associated with such vaccines is inclusive of natural infection mechanism leading to strong and long-lasting immune response. Factors such as increasing awareness about vaccination, growing government funding for vaccination programs and increasing prevalence of infectious diseases drive the growth of this market. The developing economies of the Asia Pacific like India has the largest number of births in the world. Thus, the Indian government is aiming to provide immunization to the children, to improve health and raise life expectancy of the infants. For instance, it is reported that nine million routine immunization (RI) sessions are organized in India each year. Moreover, economies like China within the region are witnessing an increase in the investment support for vaccination. Moreover, improving healthcare infrastructure, increasing demand for LAV, and emphasis on prevention of diseases also drives this market. However, factors such as limited efficiency and high cost of development are the major factors estimated to restraint the market growth during the forecast period.
Global Live Attenuated Vaccines Market - Competitive Analysis
Companies in the global market for live attenuated vaccines are continuously increasing their research and development expenses in order to development new products and technologies, which could maximize their share of global market.
Global Live Attenuated Vaccines Market - Regional Analysis
The Americas leads the live attenuated vaccine market. Factors such as increasing healthcare infrastructure and increasing government support are the major drivers for the market within the region.
Followed by the Americas, Europe holds the second largest market, owing to the huge presence of prominent players and well-developed healthcare infrastructure. Moreover, the presence of development economies like the Germany, France, Italy, and others along with research and development provides suitable backgrounds for the market to grow.
Asia Pacific is the fastest growing market due to the presence of countries like India, China, and others, says the live attenuated vaccines market research. Such developing economies have high potential of generating business for market players. Followed by the Asia Pacific region, the Middle East & Africa holds the lowest share of the market. Most of the countries within this region are low-income countries with low per capita healthcare expenditure, and stringent government policies. In the Middle East & African region. The Middle Eastern region in the Middle East & Africa is estimated to lead the market due the presence of developed economies like Saudi Arabia, Kuwait, Dubai, Qatar, and others within the regional boundaries.
Top Players List:
GlaxoSmithKline, plc. (U.K.), Merck & Co. (U.S.), Pfizer, Inc. (U.S.), Astellas Pharma Inc. (Japan), Johnson & Johnson (U.S.), CSL Limited (Australia), Emergent BioSolutions, Inc. (U.S.), MedImmune, LLC (U.S.), Sanofi (France), and Serum Institute of India Pvt. Ltd. (India). and others are some of the prominent players profiled in MRFR's Live Attenuated Vaccines Market outlook report.
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