The global vaccines market is expected to reach in 2027 from in 2018. The market is estimated to grow with a CAGR of 6.5% from 2019-2027.
The major driving factors are rising prevalence of infectious diseases, growing focus on immunization programs, and increasing support for vaccine development are expected to boost the market growth over the years. However, soaring prices of the vaccines and complexity and cost of vaccine manufacturing are likely to pose a negative impact on the market growth.
On the other hand, robust pipeline of vaccines is likely to have a positive impact on the growth of the global vaccines market in the coming years. In the current era, there are increasing concerns of spread of infectious diseases with the changing environment.
These emerging infectious diseases are a burden on public health but have also an impact on global economies. The new diseases such as HIV, hepatitis, dengue have attracted a huge concern for the government of the respective countries.
There is also resurgence of diseases which seemed to be under control such as malaria, cholera and many more.