north america vaccines Market

The North America vaccines market is expected to reach US$ 24,510.0 Mn in 2027 from US$ 14,566.0 Mn in 2018. The market is estimated to grow with a CAGR of 6.0% from 2019-2027.

The growth of the vaccines market is primarily attributed due to the compulsion or mandate vaccination and dropping vaccination rates. However, low awareness about the benefits of vaccines are likely to hinder the growth of the market during the forecast period. Additionally the growth of the North America vaccines market is contributed due to the factors such as investments made by the key players for various research and development activities as well as launch of new products in the US. In addition, extensive research in pharmaceutical and biotechnology companies further expected stimulate the growth of vaccines market in North America.

The countries in the regions have face mandatory vaccinations legislation, the legislation was imposed to eradicate the deadly diseases such as measles, mumps and rubella vaccine from the country. For instance, US has the highest prevalence of the measles, it is among the most contagious diseases approximately one out of nine is expected to get measles if he or she is not immune. As per the recent data shared by the Centers for Disease Control and Prevention (CDC) it is stated that in 2018 US experienced approximately 17 cases. In US, cities such as New York State, New Jersey, and New York City has registered three major outbreak of the measles. Therefore, getting vaccinated or immunized is the best preventive measure thus, approximately in 50 states and the District of Columbia require students to be vaccinate before attending school. Owing to these factors the market is likely to grow significantly during the forecast period.

In 2018, the conjugate vaccines segment held a largest market share of 27.5% of the vaccines market, by technology. This segment is also expected to dominate the market in 2027 owing to advantages of the conjugate vaccines are their ability to elicit immunological memory and to reduce asymptomatic carriage of the bacteria, resulting in marked herd immunity. Moreover, the conjugate vaccines segment is anticipated to witness the significant growth rate of 6.7% during the forecast period, 2019 to 2027.

North America vaccines market by the disease indication was led by the others segments which has included diseases such as poliomyelitis (polio), measles, mumps, rubella, pneumococcal infections, and others. The segment has largest market share in 2018, which accounted 59.8% and is expected to dominate the market in 2027. Similarly, the vaccines market by the route of administration was led by the injectable segment. Whereas, the market of the vaccines in the North America by the patient type was led by the pediatric segment.

Some of the major primary and secondary sources for vaccines included in the report are Centers of Disease Control & Prevention, Food and Drug Administration, World Health Organization and Others.