Global Respiratory Disease Vaccine Market Set for Growth, Fueled by Aging Populations and Vaccine Mandates - Trends, Opportunities, and Forecasts, 2018-2028F

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Jan 22, 2024, 12:00 ET

DUBLIN, Jan. 22, 2024 /PRNewswire/ -- The "Respiratory Disease Vaccine Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.

The market, which was valued at USD 91.80 billion in 2022, is projected to experience a steady CAGR of 1.18% through 2028.

A comprehensive analysis of the Global Respiratory Disease Vaccine Market has been released, revealing significant industry insights and future market trends for the period 2018-2028. The report offers an in-depth examination of the market dynamics, including key drivers, challenges, and trends shaping the global landscape for respiratory disease vaccines.

Rising Prevalence of Respiratory Diseases Spurs Vaccine Demand

With the world's elderly population on the rise, the susceptibility to respiratory diseases such as influenza, pneumococcal infections, and respiratory syncytial virus (RSV) has increased, emphasizing the urgency for effective vaccination programs.

These age-related concerns, alongside government health recommendations and mandates, have been pivotal in driving vaccine coverage rates, thereby bolstering the growth of the respiratory disease vaccine market. The report underscores the significance of vaccinations among older adults to mitigate severe health outcomes and reduce the societal and economic burden of respiratory diseases.

Vaccine Mandates Reinforce Global Immunization Efforts

Various governments and health organizations have implemented vaccine mandates, particularly for frontline healthcare workers and school-aged children, to promote higher vaccination rates.

Recommendations from prominent bodies such as the World Health Organization (WHO) further contribute to the heightened acceptance and administration of respiratory disease vaccines. These initiatives, coupled with extensive public health campaigns, serve to amplify community-wide protection against respiratory infections.

Global Immunization Programs Target Equitable Vaccine Distribution

Global immunization programs play a vital role in facilitating access to vaccines, especially for populations in need within low- and middle-income countries. The report highlights the concerted efforts of governments, international organizations, and vaccine manufacturers to ensure the wide distribution of respiratory disease vaccines, with emphases on innovation, affordable pricing, and the fortification of healthcare systems in administering immunizations.

Asia Pacific Dominates Market Share with Focus on Enhanced Healthcare

Geographically, the Asia Pacific region has captured the largest share of the market, attributed to its expansive population base and improved healthcare spending, which promotes widespread vaccination practices. Growing awareness and demographic shifts towards an aging population are additional factors propelling this regional market forward.

Segmented Analysis Illuminates Viral Vaccine Dominance

The market has been segmented by type, with viral vaccines at the forefront due to the high prevalence of conditions like influenza and COVID-19. The annual influenza vaccination programs contribute significantly to the viral vaccine segment.

Regarding distribution channels, hospital and retail pharmacies claim the largest market share, attributed to their widespread accessibility and integral role in vaccine dissemination.

Pneumococcal Vaccines Trend as A Key Preventative Measure

The report also sheds light on the growth of pneumococcal vaccines, integral in preventing pneumonia, a major cause of death worldwide, especially among vulnerable groups such as children and the elderly.

Addressing Key Market Challenges: Vaccine Hesitancy and Supply Chain Disruptions

Despite optimistic growth forecasts, the market faces notable challenges, including vaccine hesitancy fueled by misinformation and supply chain disruptions which may lead to vaccine shortages and hamper distribution efforts. The analysis provides key insights into the Global Respiratory Disease Vaccine Market, offering an essential tool for stakeholders in healthcare, governmental, and commercial sectors to comprehend the market trajectory and respond to its opportunities and challenges effectively.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Respiratory Disease Vaccine Market.

GSK plc.
Johnson & Johnson Services, Inc.
Pfizer Inc.
Sanofi SA
Serum Institute of India Pvt. Ltd.
SINOVAC Biotech Ltd.
Bavarian Nordic A/S
Merck & Co., Inc.
AstraZeneca Plc.
Moderna Inc.

Report Scope:

Respiratory Disease Vaccine Market, By Type:

Viral Vaccine
Bacterial Vaccine
Combination Vaccine

Respiratory Disease Vaccine Market, By Infection:

COVID-19
Influenza
Respiratory Syncytial Virus (RSV)
Pneumonia
Others

Respiratory Disease Vaccine Market, By Distribution Channel:

Hospital & Retail Pharmacies
Government Suppliers
Others

Respiratory Disease Vaccine Market, By region:

North America
United States
Canada
Mexico
Asia-Pacific
China
India
South Korea
Australia
Japan
Europe
Germany
France
United Kingdom
Spain
Italy
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE

For more information about this report visit https://www.researchandmarkets.com/r/qym79w

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