Vaccines are used to prevent diseases and improve immunity of the body. A vaccine is a biological preparation, contains an agent that resembles a disease-causing microorganism and is made from weakened and killed forms of microorganisms. Vaccines are categorized into many types. Some of the major types include inactivated vaccines, attenuated vaccines, toxoid and conjugate. Cholera, influenza, hepatitis A, polio and rabies vaccines are inactivated vaccines. Key attenuated vaccines are measles, mumps, rubella and typhoid.
The global adult vaccines market is categorized based on their various types and by diseases. Adult vaccines are mainly classified into preventive and therapeutic vaccines. The disease segment includes influenza, meningococcal, cervical cancer, zoster shingles, pneumococcal, hepatitis, measles, mumps, rubella and varicella (MMRV) and diphtheria, tetanus, pertussis (DTP).
In terms of geographic, North America and Europe dominates the global adult vaccines market. This is due to improved research infrastructure in these regions. The U.S. represents the largest market for adult vaccines followed by Canada in North America. In Europe, France and Germany holds major share of adult vaccines market. However, Asia is expected to show high growth rates in the next five years in the global adult vaccines market due to increasing awareness among people about preventable diseases. Several government associations have launched various programs to raise awareness among people towards diseases such as influenza, DTP, measles and mumps, in Asia. This has resulted in significant rise in demand of adult vaccines for the prevention of these diseases. In addition, many companies constructing their manufacturing and research facilities in the region. This is due to low wages, availability of a large talent pool, less stringent environment and health and safety regulations in the region. Japan, China and India are expected to be the fastest growing adult vaccines markets in Asia.
In recent time, increasing prevalence of diseases and novel vaccine technologies are some of the major drivers for the global adult vaccines market. In addition, increased research in the field of vaccine technologies and increasing government supports are also supporting in growth of the global adult vaccines market. Several government associations are providing funds and grants to increase research on specialized vaccines to improve their efficacy and disease prevention capability. Moreover, some government associations are also providing specific guidelines for their safe usage. Increased R&D investment in pharmaceutical and biopharmaceutical industries and Extensive R&D pipelines also have strong positive impact on global adult vaccines market.
However, high capital requirements and lack of technical professionals are some of the major restraints for the global adult vaccines market. In addition, stringent regulations and limited vaccines production are also hampering the growth of global adult vaccines market. Risk of side-effects and complications associated with vaccinations also obstructs the growth of global adult vaccines market. Some of the major side-effects include muscle ashes, pain around the injection site and fever. Advancement in biomedical science would develop opportunity for global adult vaccines market. Increasing mergers and collaborations between manufacturing companies and government associations and rapid product launches are some of the major trends of the global adult vaccines market.
Some of the major companies operating in the global adult vaccines market are GlaxoSmithKline, Pfizer, Sanofi Pasteur, Novartis and Merck.
Key points covered in the report
The report covers geographic segmentation