Preventive Vaccines Market, By Vaccine Type (Live/Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, Toxoid Vaccines, and Other Vaccine Types), By Disease Type (Pneumococcal, Poliovirus, Hepatitis, Influenza, Measles, Mumps, and Rubella (MMR), and Other Disease Types), and By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028
Preventive vaccines protect people from serious and life-threatening infectious diseases. These vaccines help immune system fight infections faster and more effectively. Vaccines are one of the most effective ways to prevent serious disease in children and adults. Therefore, with the increase in prevalence of infectious diseases, the demand for preventive vaccines is also increasing with the rapid pace around the world.
Market Dynamics:
Increase in prevalence of several infectious diseases, increase in demand for vaccination, outbreak of COVID-19, rising initiatives to enhance R&D of vaccines, and increase in focus on the vaccine development are major factors expected to drive growth of the global preventive vaccines market during the forecast period.
For instance, the United States and Germany have been the largest investors in COVID-19 vaccine R&D, pouring around US$ 2 billion and US$ 1.5 billion into the effort, respectively. Pfizer and BioNTech, who developed the first COVID-19 vaccine authorized in the U.S., received around US$ 800 million in R&D funding. Moreover, in January 2022, Daiichi Sankyo Company, Limited announced that it has initiated a trial in Japan to investigate a booster dose of DS-5670, an mRNA vaccine against the novel coronavirus infectious disease (COVID-19).
Key features of the study:
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