Strong presence of industry giants offering Human Combination Vaccines and the increasing threat for identity theft with the conventional model is increasing the growth of the market.
According to the current analysis of Introspective Market Research, the global Human Combination Vaccines market was valued at USD 5.96 Billion in 2019 and is expected to reach USD 32.68 Billion by the year 2026, at a CAGR of 10.3%.
Among the vaccine type, high acceptance of inactivated vaccine among the healthcare industry especially by the physicians are propelling the growth of the market. As the live attenuated vaccine held the largest market share but the inactivated vaccine is expected to dominate the market with the emergence of corona virus in 2019. As at the end of December 2019, there was an emergence of corona virus in China and as it spread gradually, the human combination vaccine market gained a major boost. As of now, more than 20 million cases are recorded across the globe for the disease and it hasn’t been effectively controlled which is bound to increase the Human Combination Vaccines market growth in the forecast period.
According to the analyst, as the inactivated vaccine is stable and can be stored easily, this easy availability of it is a driver for the market growth. In terms of end-user industry, the hospitals are the leading segment and due to the increasing government awareness about the vaccines and the diseases, the new initiatives and the strategies have increased the growth of the market. According to the World Health Organization, the global weight of the contagious diseases’ has been reduced drastically due to the vaccine. This statistic has led the awareness and the resulted into positive demographics which is further improving the opportunities for the market as the government is witnessing the positive aspects of it. The low risk of the side effects and the vaccine manufacturers working towards the development of it are the factors that are propelling the non-profit organizations to witness the market and driving it exponentially.
The Human Combination Vaccines market is Product Type (Inactivated Vaccine, Live attenuated vaccine), by End-User Industry (Hospitals & Clinics, Ambulatory Surgical Centers and Others). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest:
- North America is the leading market for combination vaccines due to increase in demand for vaccination among adults and children.
- Increased government efforts towards the different vaccination programs especially for the children are a driving force to the North America market.
- Due to the presence of diseases such as polio, flu and rotavirus are increasing the growth in the Asia-Pacific region.
- China is likely to dominate the human combination vaccines market in the region during the forecast period owing to a large population base and growing government support for vaccination.
Key Participants include Cadila Healthcare Ltd., CSL Ltd., Daiichi Sankyo Co. Ltd., GlaxoSmithKline plc, Mass Biologics, Meiji Holdings Co. Ltd., Merck & Co. Inc., Mitsubishi Tanabe Pharma Corp., Sanofi, Takeda Pharmaceutical Co. Ltd, Serum Institute of India.
For this report, Introspective Market Research have segmented the Human Combination Vaccines markets market on the basis of Region:
Regional Outlook (Revenue in USD Billion; Volume in Units, 2019-2025)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM