The increasing prevalence of infectious diseases coupled with the growing awareness and focus on preventative healthcare are major growth drivers for the vaccines market. The rising adoption of vaccination programs and initiatives by governments and healthcare organizations further contribute to market growth. Additionally, advancements in vaccine technology and research are fueling the development of new and improved vaccines, expanding market opportunities.
Industry
Report Coverage | Details |
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Segments Covered | Type, Route of Administration, Disease Indication, Age Group, Distribution Channel |
Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
Company Profiled | GSK plc, Merck & Co Inc, Pfizer Inc, Sanofi, CSL, Emergent, Johnson and Johnson Services,, Astrazeneca, Serum Institute of India Pvt, Bavarian Nordic, Mitsubishi Tanabe Pharma, Daiichi Sankyo Company, Limited, Panacea Biotec, Biological E., Bharat Biotech, Novavax, Inovio Pharmaceuticals, Sinovac, Incepta Pharma, Valneva Se, VBI Vaccines Inc, Bio Farma, FSUE NPO MICROGEN, Zhi Fei Biological, Indian Immunologicals. |
The high cost associated with vaccine development and production poses a significant restraint to market growth. This cost is often passed on to consumers, potentially limiting access to vaccines for certain populations. Another major restraint is the skepticism and apprehension surrounding vaccines, leading to vaccine hesitancy among some individuals and communities. This poses a challenge to achieving widespread vaccination coverage and hinders market growth.