Preventive Vaccines Market Is Driven By Increasing Disease Burden Of Preventable Diseases
The preventive vaccines market comprises vaccines administered to provide immunity against future infections by several pathogenic microorganisms. Preventive vaccines aid in protection against infectious diseases such as influenza, measles, mumps, rubella (MMR), polio, hepatitis, human papillomavirus (HPV), and varicella zoster virus (VZV). These vaccines find widespread application in pediatric and adult immunization programs globally. The growing disease burden of various preventable infectious diseases like influenza, hepatitis, and HPV infections has highlighted the need for vaccines to curb mortality and cut healthcare costs associated with treatment.
The Global preventive vaccines market is estimated to be valued at US$ 58817.97 Mn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the preventive vaccines market include Estée Lauder Inc., L’Oréal Group, WELEDA Inc., Groupe L'OCCITANE, and KORRES Group. These players are focused on initiatives involving partnerships, new product launches, and expanding their manufacturing capacities to strengthen their foothold in the market.
The growing Preventive Vaccines Market Size of various infectious diseases worldwide has increased the demand for preventive vaccines. As per the CDC, Influenza alone results in 9.3 million illnesses annually in the US. This has prompted leading manufacturers to expand their R&D efforts to develop novel preventive vaccines.
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