10 March 2021
Visiongain has published a new report on Adult Vaccines Market Report to 2031: Forecasts By Vaccine (Influenza, Tetanus /Diphtheria/Pertussis, Varicella, Human Papillomavirus, Zoster, Measles/mumps/Rubella, Pneumococcal, Hepatitis, and Others), By Vaccine Type (Monovalent and Multivalent), By Technology (Live Attenuated Vaccines, Inactivated Viral or Bacterial Vaccines, Toxoid Vaccines, Recombinant Vaccines, and Conjugate Vaccines) PLUS COVID-19 Recovery Scenarios.
Global Adult Vaccines market size is projected to reach US$ XX Million in 2021 and is expected to display strong revenue growth through to 2031.
COVID-19 Impact on Adult Vaccines Market
COVID-19 pandemic has affected more than 200 countries worldwide. Companies have been pressured to upsurge production capacity and raise the supply of products and other commodities. The pandemic has negatively impacted all the countries and businesses across the world. Visiongain has evaluated the present and possible impact of the pandemic on the global adult vaccine market as UNICEF, PAHO, World Health Organization, and other regular immunization programs have been stopped due to the outbreak of the deadliest virus. Hence, it is making people more susceptible to multiple infections and reduced the immunization campaigns worldwide triggered huge damage to healthcare systems. Therefore, the death rate will be high globally. This would have extremely worse inferences than the COVID-19 virus itself. Gavi, The Vaccine Alliance reported that the organization will not vaccinate nearly 13.5 million people in the least developing countries. The majority of manufacturers across the world are focusing on the development of the SARS-CoV-2 vaccine. Though, this shift is expected to harm the other segments of the market.
A rise in Cases of Infectious Diseases in the Adults
The adult vaccines market is expected to attain a significant growth rate due to the increasing incidence of infectious viruses among the elderly population along with growing alertness regarding the benefits of immunization. As per the World Health Organization (WHO), there is a rise in the aging population. From 2000 to 2050, people aged 60 and over are anticipated to increase from 600 million to around 2 billion, with 80% of adults living in emerging nations, with a majority of females. The progress of rising susceptibility to numerous infections as getting old is higher and the number of vaccine shots essential to target these people is expected to outpace in the given time frame.
Rising Focus on Immunization Programs
The rising number of non-government and government campaigns to spread consciousness regarding the significance of immunization to prevent life-threatening infections, in turn, is anticipated to boost the global adult vaccines market growth. For instance, the World Health Organization collaborated with the Bill & Melinda Gates Foundation and National Institute of Allergy & Infectious Diseases to launch the Global Vaccine and Immunization Research Forum (GVIRF) to start research and development on the vaccines in 2012. Furthermore, on 3rd November 2020, Godrej Appliances collaborated with Indian Govt’s Universal Immunisation Programme. The company commissioned around 11,856 units of vaccine refrigerators and deep freezers to support the Universal Immunisation Programme.
High Growth Scenarios in Emerging Markets
Potential global players, majorly from developing countries are more focused to develop unique vaccines to fulfill the global demand as there is a growth in diseases with a high mortality rate. For instance, on 8th October 2020, Cipla Ltd and Hetero Labs approved to marketing and distribution of its generic versions of remdesivir in India. It is the first inoculation to show some improvement in COVID-19 trials. Moreover, on 29th September 2020, the Serum Institute of India (SII) announced that the company has collaborated with Gavi and the Bill & Melinda Gates Foundation to accelerate the manufacturing and distribution of up to 100 million dosages of COVID-19 vaccines low-and middle-income countries (LMICs).
Key players operating in the global Adult Vaccines market are Merck & Co., Sanofi Pasteur, GlaxoSmithKline Plc, Pfizer, Inc., Johnson & Johnson, CSL Limited, Serum Institute of India, AstraZeneca Plc., Medimmune, and BioCSL (Seqirus).
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