Vaccine Administration Market 2022
The global Vaccine Administration Market is expected to grow at a stupendous rate In Upcoming Years. Today calls for prediction tools that are powered by AI to optimize the usage of the resources available. This could also help in crisis management. As such, key market participants are likely to invest in predictive analytics for condoning unforeseen circumstances. These would be preventive steps taken by the enterprises on the whole.
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Growing prevalence of life-threatening diseases around the globe increases the demand for new vaccine development. Vaccine administration is the process of immunization by placing the vaccine in the route of entry to contact with the body. There are various routes preferred for vaccine administration in the body such as intramuscular, subcutaneous, intravenous and oral administration.
The intramuscular route is the most preferred route of vaccine administration due to the lower local adverse events. Currently, COVID-19 pandemic affects over 78.9 Mn people around the world. More than 1.7 Mn people have been died due to COVID-19 pandemic till date.
Manufacturers all over the world are now focusing on the development of vaccines to boost immunity in order to control the adverse impact and death rate due to coronavirus disease. The key market players are also actively focusing on the regulatory approval to sale and distribute their COVID-19 vaccine. For instance, in December 2020, U.S. FDA has issued the emergency use authorization for Pfizer-BioNTech COVID-19 vaccine to be distributed in the U.S. Vaccine administration is very important to boost the immunity of the paediatric as well as the adult population.
Vaccine Administration prevents countless cases of disease and disability and saved millions of lives all over the world. The event of vaccine administration stimulates the body’s immune system by mimicking the infectious viruses and bacteria that cause disease. Both appropriate and safe vaccine administration practice is very important for vaccine effectiveness in the body.
The key manufacturers involved in the vaccine development are also focusing on to maintain the form of vaccines such as solid and liquid for appropriate vaccine administration and effect on the body. However, increasing prevalence of infectious life-threatening diseases and government support for vaccine development is expected to create lucrative growth opportunity for vaccine administration market.
Vaccine Administration Market: Drivers and Restraints
Increasing cases of viral and bacterial diseases and the rising mortality rate are the major factors expected to drive the vaccine administration market growth. Growing vaccine development activities around the globe are also anticipated to boost the vaccine administration market growth over forecast periods.
Increasing preference for intramuscular vaccine administration also anticipated propelling the growth of the vaccine administration market. However, the stringent regulatory scenario and side effects on the route of vaccine administration also expected to restrain the vaccine administration market growth to some extent.
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Vaccine Administration Market: Segmentation
Based on the route of administration, vaccine administration market can be segmented as:
Intramuscular
Subcutaneous
Intravenous
Oral administration
Others
Based on disease indication, vaccine administration market can be segmented as:
Viral Diseases
Bacterial Diseases
Based on the age group, vaccine administration market can be segmented as:
Paediatrics
Adults
Vaccine Administration Market: Key Market Participants
Key players of the vaccine administration market include
Pfizer
AstraZeneca plc. Sanofi Aventis
Merck & Co. Inc.
GlaxoSmithKline plc.
Emergent BioSolutions Inc.
Johnson & Johnson
CSL Limited
Serum Institute of India Pvt. Ltd.
Bharat Biotech
VBI Vaccines Inc.
Sinovac Biotech Ltd.
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Vaccine Administration Market: Region-wise Outlook
Geographically, U.S. is anticipated to contribute the highest market share in vaccine administration market owing to its rising healthcare expenditure and increasing funding for vaccine research and development followed by Europe. The vaccine administration market is expected to grow fastest in the Asia Pacific may because of the increasing prevalence of viral and bacterial diseases and the growing economy.
However, in the South Asian countries like India and China, the opportunities to the market players to develop and sale vaccine is expected to be higher due to large population and increasing initiatives by the government to develop vaccines during forecasting periods.
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