DUBLIN, Aug. 29, 2022 /PRNewswire/ — The “Vaccines Global Market Report 2022, By Type, Technology, Route of Administration, Valance, Distribution Channel” report has been added to ResearchAndMarkets.com’s offering.
The global vaccines market is expected to grow from $92.70 billion in 2021 to $105.20 billion in 2022 at a compound annual growth rate (CAGR) of 13.5%. The growth is mainly due to the outbreak of COVID-19 that has led to deferment of immunocompromised treatments. The market is expected to reach $163.89 billion in 2026 at a CAGR of 11.7%.
North America was the largest region in the vaccine market in 2021. Middle East is expected to be the fastest growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Rising awareness on immunization and vaccination benefits in emerging markets is consistently driving the global vaccines market growth. World Health Organization (WHO) is taking initiatives to increase awareness of immunization through global vaccine action plan (GVAP) and global Immunization vision and strategy (GIVS). They aim to strengthen routine immunization, control morbidity and mortality from vaccine preventable diseases and help countries to immunize more people with a greater range of vaccines.
The vaccines market growth is limited due to severe shortage of skilled healthcare professionals for developing biologics drugs which…
