U.S. Vaccine Market is Set to Garner Staggering Revenues by 2025
Posted by Sachin Darakhe on December 24th, 2019
The competitive landscape of the U.S. vaccines market is highly fragmented with the presence of several local and international players, says Transparency Market Research. Some of the prominent players in the U.S. vaccine market are GlaxoSmithKline plc, Sanofi Pasteur SA, CSL Limited, Johnson & Johnson, MedImmune, LLC, Pfizer, Inc., and Astellas Pharma Inc.
To maintain a leading position in the market, the key players are making notable investments in the research and development activity. This is projected to enhance the competitive environment in the U.S. vaccine market in the next few years.
Apart from this, Players are emphasizing on research and development activities of several new vaccine. This is expected to intensify competition among the players in the coming years. Apart from this, rise in mergers and acquisitions and business partnership are some other factor expected to provide lucrative opportunities for the growth of the U.S. vaccine market.
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According to a market research by TMR, in 2016, the vaccines market was noted at a valuation of US$ 28.0 bn by market analysts.. The market is anticipated to grow at a healthy 6.0% CAGR from 2017 to 2025. Rising at this CAGR, the U.S. vaccine market is projected to reach a value of US$ 48.0 Bn by the end of 2025.
On the basis of region, North America is projected to dominate the U.S. vaccine market in the coming years. The strong growth in the region is mainly due to the easy availability of vaccine owing to presence of several key manufacturers in the region. Apart from this, favorable government policies for manufacturing and sales of vaccine are another factors expected to drive the U.S. vaccine market. On the basis of types, the adult segment is expected to rise at a significant pace owing to the unprecedented rise in geriatric people across the globe.
Rising Cases of Vector Borne Diseases to Propel Market
The U.S. Vaccine market is expected to rise at a significant pace, thanks to the growing prevalence of vector borne diseases. Some of them are malaria, dengue, tuberculosis, chikangunya, influenza. Apart from this, growth of the U.S vaccine market is attributed to increase in public and private funding for research and development of several advanced vaccine.
Foremost, vaccines have helped to control prevalence of disease like polio, small pox, and chicken guniya. This has increased the adoption of vaccition in several developed and underdeveloped countries. Owing to this, market share of U.S. vaccine has increased drastically in last few years.
Sideffects of a few Vaccines on Human Bodied to Impede Growth
However, despite of several oppoetunites and demand in the market, the growth of the U.S. vaccine market is exected to hamper owing to the side effects of certain vaccine on human bodies. Due to this, FDA has canceled several drugs from the market. This is a great setback for the growth of the U.S. vaccine market.
Nonethless , to overcome this factor manufacturers are inceased investment for advance research and development activity. This will help eliminated flaws present in some of the vaccine. There by .offering a significant thrust to the U.S. vaccine market. Along with this, several advanced vaccine patient are in pipelin for regualotr approval. One this, patient will be appoved the U.S. vaccine market is expected to enjoy major boost.
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About the AuthorSachin Darakhe
Joined: August 12th, 2019
Articles Posted: 296
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