The global Preventive Vaccines Market is estimated to be valued at US$ 51057.26 Mn in 2023 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Preventive vaccines help protect individuals from infectious diseases. These vaccines stimulate the body's own immune system to protect the person against subsequent infection or disease. They are an important public health intervention as they help reduce sickness and deaths related to infectious diseases.

Market key trends:
One of the key trends in the preventive vaccines market is the rising demand for meningococcal vaccines. Meningococcal disease is a life-threatening illness caused by bacteria called Neisseria meningitidis. Meningococcal bacteria can cause meningitis (infection of the protective membranes covering the brain and spinal cord) and sepsis (infection of the blood). According to the WHO, meningococcal vaccines provide effective protection against meningococcal disease. The growing adoption of meningococcal vaccines, especially in developed markets of North America and Europe is expected to fuel the growth of the meningococcal vaccines segment and overall preventive vaccines market during the forecast period. Other factors like increasing government investments in immunization programs and rising awareness are also propelling the preventive vaccines market growth.
Segment Analysis
The global preventive vaccines market is segmented on the basis of composition, type, and end user. By composition, the preventive vaccines market is bifurcated into monovalent and multivalent vaccines. Among these, the multivalent vaccines segment is expected to dominate the market during the forecast period. Multivalent vaccines provide protection against multiple diseases with a single injection, which makes them more cost-effective and convenient than monovalent vaccines. By type, the preventive vaccines market is categorized into pediatrics vaccines and adult vaccines. Among these, the pediatrics vaccines segment accounts for the largest share of the market due to the high demand for vaccines such as DTaP, MMR, polio, and influenza vaccines for infants and children. By end user, the market is segmented into pediatric hospitals, adult hospitals, and clinics. The clinics segment is expected to grow at the highest CAGR during the forecast period, owing to rising number of clinics offering adult and childhood immunization services.

Key Takeaways
The Global Preventive Vaccines Market Demand size is expected to reach US$ $51057.26 Mn by 2030, expanding at a CAGR of 9.4% over the forecast period. The high market growth can be attributed to the rising prevalence of infectious diseases and growing awareness regarding immunization programs in both developed and developing countries.

Regional analysis- North America holds the largest share of the global preventive vaccines market, followed by Europe. This is primarily due to improving reimbursement policies, government initiatives to promote vaccination, and rising healthcare expenditure in the region. Asia Pacific is expected to witness the fastest growth during the forecast period due to growing population, rising healthcare awareness, and increasing healthcare spending.

Key players - Key players operating in the preventive vaccines market are Sanofi SA, Pfizer Inc., Novavax Inc., Merck & Co. Inc., Johnson & Johnson, GlaxoSmithKline PLC, Daiichi Sankyo Co. Ltd., Emergent BioSolutions Inc., AstraZeneca, and Takeda Pharmaceutical Company Limited, among others. Sanofi SA and GlaxoSmithKline PLC collectively account for the largest revenue share of the global market, owing to their diverse product portfolio and strong geographic presence across the globe.

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