According to a new report published by Allied Market Research, titled, "Vaccine Market by Technology, Indication, End User, and Region: Opportunity Analysis and Industry Forecast, 2020–2027," the vaccine market size accounted for $32.46 billion in 2019, and is expected to reach $54.15 billion by 2027, registering a CAGR of 6.6% from 2020 to 2027.

A vaccine is a substance that is introduced into the body to prevent infection or to control disease due to a certain pathogen, which is a disease-causing organism, such as a virus, bacteria, or parasite. The vaccine teaches the body how to defend itself against the pathogen by creating an immune response. Preventive vaccines work to protect an individual from infection or disease by introducing a small component or a non-harmful form of the pathogen (called the foreign antigen) into the body. The body produces an immune response to the pathogen by generating antibodies (via the humoral response), killer cells (via the cell mediated response), or both.

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COVID-19 scenario analysis:

1) The COVID-19 impact on the Vaccine market is unpredictable and is expected to remain in force till the fourth quarter of 2021.

2) The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of nonessential items for most of 2021. This led to sudden fall in the availability of important raw materials.

3) Moreover, nationwide lockdowns forced manufacturing facilities to partially or completely shut their operations.

4) Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of reliable and innovative drone analytics systems globally.

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Vaccination is generally considered as one of the greatest public health achievements in industrialized countries during the 20th century, reducing morbidity and mortality from a broad range of vaccine-preventable diseases. Globally, over 5.9 million deaths are prevented annually through vaccination against nine major infectious diseases, including varicella, diphtheria, tetanus, pertussis, Haemophilus influenzae type b (childhood), hepatitis B, measles, and polio. According to CDC, in Canada, immunization has saved more lives over the last 50 years than any other health intervention.

Key findings of the Vaccine market:

The study provides an in-depth analysis, current trends, and future estimations of the global vaccine market to elucidate the imminent investment pockets.

Comprehensive analysis of factors that drive and restrict the vaccine market growth is provided.

It provides an extensive analysis of key segments to understand the type of products and indications used globally.

Extensive analyses of key segments of the industry help understand the types of products and technologies used across various geographies.

List of Key Players Profiled in the Report:

The key players operating in the vaccine industry include Serum Institute of India Pvt. Ltd., Pfizer, Johnson & Johnson, AstraZenecea plc, GlaxoSmithKline plc, Sanofi Aventis, Merck & Co., Inc., Emergent BioSolutions Inc., and CSL Limited, Novavax, Inc.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Tags: Inactivated Vaccines, Toxoid Vaccines, Live Attenuated Vaccines, Recombinant Vaccines, Vaccine, Conjugate Vaccines, Vaccine Market

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