The Adult Vaccines market is estimated to be valued at US$ 17982.21 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis:

Strength: Adult Vaccines have strong protective benefits against diseases. They help reduce illness and healthcare costs associated with preventable diseases. Many adult vaccines produce strong and long lasting immunity with one or few doses.

Weakness: Low awareness and uptake of adult immunization remains a major challenge. Some adults also have concerns regarding side effects of vaccines which discourages them from getting recommended shots.

Opportunity: Rising prevalence of diseases like pneumonia, shingles and tetanus among adults presents market opportunity. Growing elderly population worldwide is also increasing demand for adult immunization.

Threats: Stringent regulations for vaccine development and approval pose challenges. Restricted national immunization schedules and availability of substitutes also threaten market growth.

Key Takeaways:

The Global Adult Vaccines Market Growth is expected to witness high, exhibiting CAGR of 7.1% over the forecast period, due to increasing prevalence of diseases among adults. As per market reports, the global Adult Vaccines market size was valued at US$ 17982.21 Mn in 2023.

Regional analysis:

The adult vaccines market in North America accounted for largest revenue share in 2023 and is expected to maintain its dominance over the forecast period. This is attributed to increased awareness, availability of advanced vaccines and presence of major players in the region. However, Asia Pacific market is poised to grow at fastest pace owing to rising healthcare spending, large adult population base and growing demand in major countries like China and India.

Key players

Key players operating in the Adult Vaccines market are GlaxoSmithKline Plc, Merck & Co., Sanofi Pasteur, Pfizer Inc., CSL Limited, Johnson & Johnson, Serum Institute of India, Medimmune, and AstraZeneca Plc. Major companies are focusing on development of novel vaccines for diseases like shingles and COVID-19 through strategic collaborations and mergers.

For more insights, read- ​ https://www.zupyak.com/p/3941416/t/fueling-the-growth-of-adult-vaccines-market