Vaccines Market to Expand at a Healthy CAGR of 6.0% from 2017 to 2025
The demand within the global market for vaccines has been rising on account of advancements in the field of medical therapy and disease prevention, finds Transparency Market Research (TMR). There is a high probability of new vendors emerging in the global vaccines market in the years to come. The historic trends have been suggestive of the opportunities that have aided market growth in recent times. The leading vendors in the global vaccines market have engaged in core research and development in order to earn increased revenues. Furthermore, these vendors are projected to invest in new vaccination lines to elevate their standards of production.
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The competition in the global market for vaccines is expected to intensify in the years to come. This is because a large number of established players are moving neck and neck in the quest to develop more effective vaccines. The competition in the global vaccines market has further escalated on account of the emergence of newbie vendors in the global vaccines market. There is a heavy possibility of strategic alliances being formed in the global vaccines market.
Some of the key players in the global vaccines market are CSL Ltd, Janssen Pharmaceutical Company, GlaxoSmithKline plc., Pfizer, Inc., Mitsubishi Tanabe Pharma Corporation, and Sanofi Pasteur SA.
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Transparency Market Research (TMR) predicts that the global market for vaccines would expand at a healthy CAGR of 6.0% over the period between 2017 and 2025. Furthermore, the cumulative value of the global vaccines market is projected to reach US$ 48.0 Bn by 2025-end, rising up from a value of US$ 28.0 Bn in 2016. On the basis of vaccine type, the market for toxoid vaccines is expected to expand in the years to come. Based on geography, the market for vaccines in Europe is projected to accumulate humongous revenues in the years to come.
Availability of Vaccines for Kids to Propels
The global market for vaccines caters to the masses of all age groups, including children. The need to vaccinate children in order to prevent them from serious diseases is being felt across the world. Hence, the global vaccines market is projected to expand alongside advancements in the field of disease care and paediatrics. Furthermore, the market for vaccines has also expanded on account of the growth of new and advanced facilities across medical facilities such as healthcare centers and hospitals. Doctors and medical practitioners recommend all essential vaccines for people of various age groups which in turn pushes market growth.
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Emergence of New Selling Points to Aid Market Growth
The global market for vaccines has been expanding alongside increase in the number of distribution channels for vaccines. The popularity of institutional sales for the purposeof vaccination has created stellar opportunities for growth within the global market. Moreover, hospitals now have dedicated sections for vaccination and treatment which has in turn propelled market demand. Medication and injective vaccines are also available across retail pharmacies, and this another key consideration from the perspective of market growth. The revenue index of the global vaccines market is projected to reach new volumes in the years to come.
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