The global attenuated vaccines market is poised for remarkable growth over the forecast period from 2022 to 2032, according to a recent market analysis. The market, valued at USD 4,170.2 Million in 2021, is projected to witness a year-on-year growth rate of 6.7%, reaching USD 4,451.7 Million by the end of 2022. By 2032, the market is anticipated to soar to a valuation of USD 9,305.8 Million, reflecting a compound annual growth rate (CAGR) of 6.8%.
A key driving force behind this substantial growth trajectory is the concerted efforts of government organizations worldwide to prioritize immunization initiatives. This strategic focus is expected to significantly bolster the industry’s expansion over the coming years.
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Attenuated vaccines play a pivotal role in preventing a spectrum of diseases, including Tuberculosis, yellow fever, retroviral infections, measles, polio, and various other illnesses. This broad scope of application underscores their importance in public health initiatives globally and is poised to fuel market growth in the foreseeable future.
Commenting on the market outlook, FMI, stated, “The anticipated growth of the attenuated vaccines market reflects the increasing recognition of the importance of vaccination in disease prevention and public health. With government organizations spearheading immunization campaigns and a growing awareness among populations, we foresee significant opportunities for market expansion in the coming years.”
The forecasted surge in demand for attenuated vaccines underscores the critical role they play in global health initiatives. As the market continues to evolve, stakeholders across the healthcare spectrum are poised to capitalize on these opportunities, contributing to the advancement of public health on a global scale.
Attenuated Vaccines Market: Key Drivers for Growth
Rising Infectious Diseases:
- Global increase in people suffering from infectious diseases is a major driver.
- Re-emergence of diseases due to antibiotic overuse contributes to the market growth.
- Live attenuated vaccines prevent diseases like tuberculosis, yellow fever, measles, polio, and fungal infections.
Government Initiatives:
- Government efforts like mandatory childhood vaccinations for polio have significantly reduced cases.
- Increased funding for vaccinations and public health initiatives boost the market.
- Programs aiming to prevent disease transmission and alleviate suffering further drive market growth.
Other Growth Factors:
- Rising public awareness about vaccination benefits.
- Increasing global population creates a larger target market.
- Public and private funding for vaccine development is on the rise.
- Advancements in healthcare and vaccine technology contribute to market growth.
- Increased clinical trials by pharmaceutical companies are a positive indicator.
These factors combined are expected to significantly expand the live attenuated vaccines market in the coming years.
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Key Competitors in the Attenuated Vaccines Market:
Merck & Co., Inc., GlaxoSmithKline plc, Pfizer Inc., Sanofi, Astellas Pharma, CSL Limited, Serum Institute of India Pvt. Ltd., BioDiem, AstraZeneca, Emergent BioSolutions Inc., Vivaldi Biosciences Inc., and Excavators, among others, stand as leaders in the global attenuated vaccines market.
These prominent companies are leveraging their significant market share to extend their reach into new territories. Through strategic partnerships, they are enhancing their market dominance and bolstering their bottom line.
Meanwhile, smaller and mid-sized enterprises are carving out their niche by securing new contracts and venturing into untapped markets, leveraging advancements in technology and product innovation.
Recent Developments:
- During May 2022, Codagenix Inc., a leading clinical-stage synthetic biology company focused on rational vaccine design for infectious diseases and cancer, joined forces with the Serum Institute of India Pvt. Ltd. to announce a significant milestone. The first patient has been administered with a novel intranasal, live-attenuated virus vaccine called CoviLiv in a Phase 1 clinical trial based in the U.K. This trial aims to assess the efficacy of CoviLiv as a booster in healthy adults who have previously received approved COVID-19 vaccines.
- Also in May 2022, Bavarian Nordic, a prominent European biotech firm, introduced Jynneos, a live attenuated vaccine under development. Jynneos offers immunity against both smallpox and monkeypox. Furthermore, the associated symptoms are primarily managed through antibiotics and hydration therapy.
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Key Segments Covered in the Attenuated Vaccines Market Report:
Attenuated Vaccines Market by Vaccines Type:
- Monovalent Attenuated Vaccines
- Multivalent Attenuated Vaccines
Attenuated Vaccines Market by Indication:
- Attenuated Vaccines for Influenza
- Attenuated Vaccines for Measles, Mumps & Rubella (MMR)
- Attenuated Vaccines for Polio
- Attenuated Vaccines for Chickenpox
- Attenuated Vaccines for Shingles
- Attenuated Vaccines for Rotavirus
- Attenuated Vaccines for Other Indications
Attenuated Vaccines Market by Route of Administration:
- Intramuscular Attenuated Vaccines Administration
- Subcutaneous Attenuated Vaccines Administration
- Oral Attenuated Vaccines Administration
- Intranasal Attenuated Vaccines Administration
- Intravenous Attenuated Vaccines Administration
Attenuated Vaccines Market by Age Group:
- Attenuated Vaccines for Pediatrics
- Attenuated Vaccines for Adolescents
- Attenuated Vaccines for Adults
- Attenuated Vaccines for Geriatric Patients
Attenuated Vaccines Market by End User:
- Attenuated Vaccines for Hospitals
- Attenuated Vaccines for Clinics
- Attenuated Vaccines for Other End Users
Attenuated Vaccines Market by Region:
- North America Attenuated Vaccines Market
- Latin America Attenuated Vaccines Market
- Europe Attenuated Vaccines Market
- East Asia Attenuated Vaccines Market
- South Asia Attenuated Vaccines Market
- Oceania Attenuated Vaccines Market
- Middle East & Africa Attenuated Vaccines Market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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