Global Viral Vaccines Market Size Study & Forecast, by Form (Liquid, Lyophilized), By Container Format (Vials, Prefilled Syringes), By Biosafety Level Type (Biosafety Level 1, Biosafety Level 2, Biosafety Level 3, Biosafety Level 4), and Regional Analysis

Global Viral Vaccines Market Size Study & Forecast, by Form (Liquid, Lyophilized), By Container Format (Vials, Prefilled Syringes), By Biosafety Level Type (Biosafety Level 1, Biosafety Level 2, Biosafety Level 3, Biosafety Level 4), and Regional Analysis, 2023-2030

Global Viral Vaccines Market is valued at approximately USD 91.82 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 2.7 % over the forecast period 2023-2030. Viral vaccines are immunizations that are specifically designed to prevent viral infections. They stimulate the immune system to recognize and mount a protective response against specific viral pathogens, reducing the risk of infection or the severity of the disease if infection occurs. The increasing government initiatives to promote vaccination, the increasing development of new products against these diseases, as well as the rising geriatric population are the prominent factors that are spurring the market demand around the world.

The surge in the prevalence of viral diseases is directly influencing the demand for viral vaccines. The global burden of viral diseases, such as influenza, hepatitis, measles, mumps, rubella, and human papillomavirus (HPV), remains significant. The high incidence and impact of these diseases drive the demand for viral vaccines as preventive measures to control their spread and reduce the associated morbidity and mortality. According to the (WHO) article published in 2021 hepatitis B and C account for the majority of viral infections worldwide, with 3 million new cases and 3 million new subjects being reported annually. Thus, these aforementioned factors are propelling the growth of Viral Vaccines Market during the estimated period. Moreover, the technological advancements in vaccine development as well as increasing awareness and vaccination programs present various lucrative opportunities over the forecasting years. However, the limited reimbursement coverage and the high cost associated with the storage and transportation of vaccines are restricting the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Viral Vaccines Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing awareness and vaccination programs, rising technological advancements in vaccine development, and expanded vaccination coverage. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecasting years. The increasing prevalence of viral diseases, rising government initiatives to encourage vaccination, and development of healthcare facilities are significantly propelling the market demand across the region.

Major market players included in this report are:
Seqirus (CSL Limited)
Merck & Co., Inc.
AstraZeneca plc
Emergent BioSolutions Inc.
Novartis, Inc.
GlaxoSmithKline plc
Pfizer, Inc.
Sanofi
Serum institute of India Private Limited
Novavax, Inc.

Recent Developments in the Market:
In November 2022, the U.S. FDA approved GSK's older adult Respiratory Syncytial Virus (RSV) vaccine candidate for a priority review.
In June 2022, the Canadian government and Bavarian Nordic A/S signed a five-year agreement for the purchase of the IMVAMUNE smallpox vaccine.

Global Viral Vaccines Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Form, Container Format, Biosafety Level Type, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Form:
Liquid
Lyophilized

By Container Format:
Vials
Prefilled Syringes

By Biosafety Level Type:
Biosafety Level 1
Biosafety Level 2
Biosafety Level 3
Biosafety Level 4

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Seqirus (CSL Limited)
Merck & Co., Inc.
AstraZeneca plc
Emergent BioSolutions Inc.
Novartis, Inc.
GlaxoSmithKline plc
Pfizer, Inc.
Sanofi
Serum institute of India Private Limited
Novavax, Inc.

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