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Fueling the growth of Adult Vaccines Market

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Sneha
Fueling the growth of Adult Vaccines Market

The global Adult Vaccines Market is estimated to be valued at US$ 17982.21 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Adult vaccines help protect adults from serious diseases like shingles, tetanus and whooping cough. Adult vaccines provide immunity and protection against diseases. They support better health outcomes and productivity among adults.

Market key trends:

One of the major trends in the adult vaccines market is the growing awareness and focus on immunization programs. Several awareness campaigns by governments across the world are helping drive the demand for adult vaccines. Protecting adults against infectious diseases is important not only for individuals’ health but also helps in community health protection. Additionally, adult immunization offers substantial cost savings to healthcare systems by lowering treatment costs of infectious diseases.

Segment Analysis:

The global adult vaccines market is segmented based on product, disease indication, and distribution channel. The product segment includes conjugate, recombinant, inactivated, and live attenuated vaccines. Among these, the conjugate vaccines segment dominated the market in 2023 due to the high protection they provide against invasive diseases such as meningococcal meningitis and pneumonia.

Key Takeaways:

The Global Adult Vaccines Market Size was valued at US$ 17982.21 Mn in 2023. The market is expected to grow at a CAGR of 7.1% during the forecast period due to the increasing awareness regarding the advantages of adult vaccination and the rising prevalence of diseases preventable through vaccines.

Regional Analysis:

North America dominated the global adult vaccines market in 2023 with a share of over 35.0% owing to the strong presence of key players, growing adoption of adult vaccination products, and higher healthcare expenditure in the region. Asia Pacific is poised to be the fastest-growing market during the forecast period supported by rising disposable incomes, expanding privatization of healthcare facilities, and growing focus on adult vaccination.

Key Players:

Key players operating in the adult vaccines market include GlaxoSmithKline Plc, Merck & Co., Sanofi Pasteur, Pfizer Inc., CSL Limited, Johnson & Johnson, Serum Institute of India, Medimmune, and AstraZeneca Plc. GlaxoSmithKline Plc held the largest market share in 2023 due to its broad portfolio of vaccines for diseases such as influenza, meningococcal, and zoster. Merck & Co. was the second-largest player owning to its strong brands like Gardasil and ProQuad/M-M-R II.


For more insights, read- ​https://www.insightprobing.com/adult-vaccines-market-size-and-growth-analysis/

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