Pertussis Vaccine Market Overview 2024: Market Size, Major Growth Factors And Leading Regions As Per The Business Research Company’s Pertussis Vaccine Global Market Report 2024
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LONDON, Feb. 15, 2024 (GLOBE NEWSWIRE) — As per The Business Research Company’s Pertussis Vaccine Global Market Report 2024, the pertussis vaccine market has demonstrated steady growth in recent years, with projections indicating continued expansion over the forecast period. The pertussis vaccine market is set to grow from $5.26 billion in 2023 to $5.5 billion in 2024, at a compound annual growth rate (CAGR) of 4.4%. This growth is primarily attributed to disease prevalence, immunization programs, pediatric vaccination, and regulatory approvals that have facilitated market expansion.
Anticipated Growth and Key Drivers
In the forecast period, the pertussis vaccine market is expected to witness steady growth, reaching $6.33 billion by 2028, at a CAGR of 3.6%. Key drivers of this growth include booster vaccination, maternal immunization, immunization for healthcare workers, and global health initiatives aimed at increasing vaccination coverage and reducing disease burden. Major trends such as personalized immunization schedules, combination vaccines, vaccine equity initiatives, and the integration of digital health for immunization are expected to further propel market growth.
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Impact of Geriatric Population and Strategic Acquisitions
The increasing number of geriatric populations is expected to significantly contribute to the growth of the pertussis vaccine market. As the global population ages, there is an elevated demand for pertussis vaccines to protect older adults from this serious disease. For instance, projections from the World Health Organization indicate a doubling of the global population aged 60 years and above by 2050, emphasizing the importance of vaccination in this demographic segment.
In a strategic move to enhance its vaccine portfolio and expand market reach, GSK PLC acquired Affinivax Inc. for $2.1 billion in May 2022. This acquisition aims to leverage Affinivax’s innovative pertussis vaccine technology to develop new vaccine candidates and broaden GSK’s scientific footprint in the biotechnology hub of Boston.
Regional Landscape and Market Segmentation
North America emerged as the largest region in the pertussis vaccine market in 2023, with significant contributions from Asia-Pacific, Western and Eastern Europe, South America, and the Middle East and Africa. The pertussis vaccine market segmentation includes product types such as DTaP (Diphtheria, Tetanus, and Acellular Pertussis) Vaccine and Tdap (Tetanus, Diphtheria, and Pertussis) Vaccine, vaccine types including whole-cell and acellular vaccines, applications spanning children, adults, and infants, and diverse end-users such as vaccination centers, hospitals, and clinics.
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In conclusion, the Pertussis Vaccine Market Report offers invaluable insights for industry players to capitalize on emerging opportunities and navigate market challenges effectively. By leveraging the comprehensive analysis provided in the report, businesses can develop tailored strategies, innovate in vaccine development, and contribute to global efforts in preventing pertussis and improving public health outcomes.
Pertussis Vaccine Global Market Report 2024 by The Business Research Company provides insights on the pertussis vaccine market size, pertussis vaccine market segments, pertussis vaccine market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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