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SEATTLE, April 05, 2018 -- According to Coherent Market Insights, the global adult vaccines market is estimated to be valued at US$ 12,806.4 million in 2017 and is projected to exhibit a CAGR of 7.1% over the forecast period (2017–2025).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/adult-vaccines-market-1091
Key Trends and Analysis of the Adult Vaccines Market:
An increasing number of government and non-government initiatives to spread awareness about the importance of vaccination and immunization to prevent diseases, in turn, is expected to foster growth of adult vaccines market. For instance, in 2012, the World Health Organization in collaboration with National Institute of Allergy & Infectious Diseases and Bill & Melinda Gates Foundation, introduced the Global Vaccine and Immunization Research Forum (GVIRF) to undertake research related to vaccine development.
Potential market players, majorly from emerging economies are focusing on developing novel vaccines to cater to the growing prevalence of diseases with high mortality rate. For instance, in February 2017, India-based drug firm, Cipla, in collaboration with Serum Institute of India, introduced Hepatitis B vaccine for adults in the country. According to the Universal Immunization Programme by Government of India, Hepatitis B is a highly infectious disease, affecting over 40 million people in India, every year. However, high manufacturing costs coupled with stringent regulatory requirements for manufacturing vaccines pose as major factors restraining growth of the adult vaccines market. On the other hand, major players in the market are increasingly adopting strategies such as collaborations and partnerships related to research & development, to strengthen their foothold in the global market.
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Key Market Takeaways:
- The adult vaccines market is expected to exhibit a CAGR of 7.1% during the forecast period (2017–2025), attributed to increasing prevalence of infectious diseases and high government investments to promote immunization.
- Market growth is attributed to increasing development of innovative and novel vaccines for rare diseases by established players and new entrants in the adult vaccines market.
- Some of the major players operating in the global adult vaccines market include GlaxoSmithKline Plc, Merck & Co., Sanofi Pasteur, Pfizer, Inc., CSL Limited, Johnson & Johnson, Serum Institute of India, MedImmune, and AstraZeneca Plc.
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