June 18, 2024
Preventive Vaccines Market

Preventive Vaccines Market Is Estimated To Witness High Growth Owing To Advancements In DNA Vaccines Development

The preventive vaccines market comprises vaccines administered to prevent future occurrences of infectious diseases. Preventive vaccines help build immunity against future infections, such as tetanus, influenza, pneumonia, measles, and hepatitis. Advancements in DNA vaccine development technologies have significantly increased the efficiency and effectiveness of preventive vaccines. DNA vaccines can produce a long-lasting immune response and protect against pathogens with genetic diversity and rapid mutation rates. This addresses critical limitations of traditional vaccine development approaches and is expected to enable faster development of vaccines for emerging diseases.

The Global preventive vaccines market is estimated to be valued at US$ 58817.97 Mn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031.

Key Takeaways

Key players: Key players operating in the preventive vaccines market include Estée Lauder Inc., L’Oréal Group, WELEDA Inc., Groupe L’OCCITANE, and KORRES Group.

Key opportunities:

Increasing government initiatives to improve immunization coverage rates across countries present significant opportunities for Preventive Vaccines Market Size players. Additionally, the growing need for combination vaccines targeting multiple infectious diseases will drive market revenue.

Technological advancements: Advancements in DNA vaccine development technologies have addressed critical limitations of traditional approaches. DNA vaccines enable effective protection against pathogens with genetic diversity and rapid mutation rates, presenting opportunities for expanded vaccine portfolios.

Market Drivers:

The growing global disease burden of infectious diseases is a major market driver. Significant economic benefits of vaccination programs in terms of healthcare cost-savings also encourage market growth. Improving cold chain infrastructure in developing regions will further support preventive vaccine uptake.

Current Challenges in Preventive Vaccines Market
The preventive vaccines market is facing various challenges currently including lack of vaccines for emerging diseases, high cost of R&D, stringent regulations for approval and adverse effects associated with vaccines. Development of new preventive vaccines require huge investment and time due to lengthy clinical trials and regulatory approvals. Meanwhile, emerging diseases pose greater threat due to lack of available vaccines. Ensuring vaccine safety and minimising adverse effects also remain a major challenge. Addressing these challenges would help expedite development and uptake of preventive vaccines.

SWOT Analysis

Strength: Preventive vaccines help eliminate or control deadly infectious diseases and reduce healthcare costs. Wide portfolio of vaccines for diseases such as smallpox, polio offers substantial protection.

Weakness: Large population in developing countries still lack access to basic vaccines due to affordability and supply issues. Adverse events associated with some vaccines discourage immunization.

Opportunity: Rising government focus on immunization programs and initiatives like GAVI offer increased market access. Growing population and travel presents need for new vaccines.

Threats: Frequent mutations in pathogens challenge development of effective vaccines. Rising anti-vaccine sentiments and hesitancy pose threat to immunization programs. Competition from generic alternatives limits market potential.

Geographical Regions

North America currently dominates the preventive vaccines market in terms of value owing to availability of advanced healthcare facilities and structured immunization programs. Presence of major players and adequate reimbursement has further facilitated market growth in the region.

Asia Pacific is poised to be the fastest growing regional market for preventive vaccines over the forecast period. This is attributed to large population base, increased disease prevalence, growing awareness and improving access to healthcare in major countries like India and China. Rising standard of living will further drive up demand for vaccines in Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.