Vaccine Market Present Scenario And The Growth Prospects 2030

Leeb5755529 Sep, 2022Business

The rising focus on immunization programs, increasing awareness of health, improving healthcare infrastructure, and rapid spread of viruses are the biggest vaccine market growth drivers. Thus, the rise in the incidence of infectious diseases, coupled with the increasing investment in R&D for the development of new vaccines, will pave the way for the market growth. Pharmaceutical companies are currently engaged in extensive R&D in COVID 19 diagnostics, treatments, and vaccines. As per the World Health Organization, global vaccination coverage can prevent the deaths of more than 6.5 million people every year. The vaccine market is majorly driven by the high incidence of infectious diseases. The increasing number of child deaths due to the outbreak of diseases such as polio, measles, and hepatitis has a significant impact on economies and families. The growing awareness of consumers toward improved healthcare acts as a catalyst boosting the demand for this kind of drug.