Adult vaccines are immunization shots given to individuals above the age of 18 to protect from various infectious diseases. They help enhance immunity against viruses and bacteria that can cause health issues like pneumonia, shingles, hepatitis etc. in adults. With growing knowledge about the importance of adult immunization in preventing illnesses, the demand for vaccines such as pneumococcal vaccine, tetanus-diphtheria-acellular pertussis vaccine and herpes zoster vaccine is rising. The global Adult Vaccines Market is estimated to be valued at US$ 16,790.11 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 key trends:
One of the key trends driving the adult vaccines market is the rising awareness about adult vaccination. Public health organizations across the world are undertaking various awareness programs to educate adults regarding the need for booster doses. They are emphasizing that immunity from diseases contracted during childhood can reduce over time and booster shots are required to prevent future illness. This is increasing the understanding levels about vaccination among the adult population. As per estimates, only 30-40% of adults in developed nations receive recommended immunizations. With continuous campaigns, this percentage is projected to improve over the coming years and positively influence the demand for adult vaccines.
Segment Analysis
The global adult vaccines market is dominated by seven-valent pneumococcal conjugate vaccine sub segment as it protects against seven serotypes responsible for a major burden of pneumococcal disease globally. This sub segment holds a market share of over 30% as of 2024 owing to rising incidence of pneumococcal diseases and increasing emphasis on immunization programs globally.
Key Takeaways
The global adult vaccines market is expected to witness high growth over the forecast period owing to rising incidence of infectious diseases and increasing emphasis on immunization by healthcare agencies worldwide.
Regional analysis comprises: North America currently dominates the global adult vaccines market and is expected to continue its dominance over the forecast period. Higher awareness regarding vaccination, stringent immunization schedules, and easy access to healthcare services are some key factors supporting the growth of adult vaccines market in the region.
Asia Pacific is expected to be the fastest growing region in the global adult vaccines market owing to growing healthcare expenditure, rising penetration of healthcare insurance, and rapid economic development in countries such as China and India. Countries in the region are also focusing on reducing disease burden through national immunization programs which is further expected to drive the adult vaccines market growth in Asia Pacific.
Key players operating in the adult vaccines market are GlaxoSmithKline Plc, Merck & Co., Sanofi Pasteur, Pfizer Inc., CSL Limited, Johnson & Johnson, Serum Institute of India, Medimmune, and AstraZeneca Plc. GlaxoSmithKline Plc is one of the leading players owing to its robust vaccine portfolio such as Boostrix and Cervarix for immunization against tetanus, diphtheria, and pertussis. Merck & Co. also offers various adult vaccines for hepatitis, shingles, pneumonia and herpes zoster through its subsidiary MSD. Players are focusing on expanding their geographic presence and enhancing their research capabilities for developing novel vaccines to strengthen their market position.
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