Vaccines Market to reach 49.27 Billion USD by 2022

New market research projected that the vaccines market is expected to worth USD 49.27 Billion by 2022 from USD 34.30 Billion in 2017, at a CAGR of 7.5%.

The vaccines market to reach USD 49.27 Billion by 2022 from USD 34.30 Billion in 2017

The report, "Vaccine Market by Technology, Route, End User & Type - Forecast to 2022", published by Markets and Markets, reports the pneumococcal segment is projected to grow at the highest CAGR during the forecast period, based on disease indication.

The study estimates the vaccines market size for 2017 and projects its demand till 2022. In the primary research process, various sources from both demand side and supply side were interviewed to obtain qualitative and quantitative information for the report. Primary sources from the demand side include various industry CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from the various players in the vaccine market. For the market estimation process, both top-down and bottom-up approaches were used to estimate and validate the market size of the global market as well as to estimate the market size of various other dependent submarkets. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

In 2017, North America is believed to dominate the market. The large share of this geographical segment is attributed to factors such as increasing investments by government organizations and companies to promote immunization as well as develop new vaccines. In 2017, Europe is expected to hold the second largest share of this market. Factors such as availability of funding and venture capital investments for the development of new vaccines and increasing government initiatives are expected to drive market growth in this region.