Preventive Vaccines Market is Estimated to Witness High Growth...

Preventive Vaccines Market is Estimated to Witness High Growth Owing to Rising Prevalence of Infectious Diseases

Posted 2024-09-06 12:11:09

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Preventive vaccines offer significant advantages such as easier administration compared to therapeutic drugs, creation of long-term immunity with single or booster doses and reduced healthcare costs by lowering disease incidence. The growing prevalence of infectious diseases worldwide along with the rising awareness about vaccination benefits have tremendously boosted the demand for preventive vaccines in recent years.

The Global Preventive Vaccines Market is estimated to be valued at US$ 50.41 Bn in 2024 and is expected to exhibit a CAGR of 9.7% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Preventive Vaccines market are EstÃ©e Lauder Inc., L€TMOrÃ©al Group, WELEDA Inc., Groupe L€TMOCCITANE, and KORRES Group. These key players are investing heavily in R&D activities to develop novel and effective vaccines. They are also focusing on geographical expansion and capacity expansions to cater to the unmet demand.

The rising awareness campaigns by governments and non-profit organizations regarding Preventive Vaccines Market Trends significant opportunities for market players to expand their clientele. Additionally, the emerging economies with large population base offer lucrative opportunities for preventive vaccine sales.

The global expansion of major players through foreign direct investments and acquisitions has significantly driven the preventive vaccine market growth across regions. Establishing manufacturing and distribution facilities in developing nations has enabled key players to tap into new growth markets.

Market drivers

The main driver propelling the Preventive Vaccines Market Size And Trends is the rising prevalence of infectious diseases globally. According to the World Health Organization (WHO), infectious diseases accounted for approximately 26% of global deaths in 2019.

The increasing infection risk due to factors like climate change, wildlife habitat destruction, microbial resistance and international travel has considerably widened the infectious disease burden. This has elevated the need for effective preventive immunization through vaccines and boosted the demand for preventive vaccines.

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