Vaccine Market Studied in Detail by Focusing on Product Type, Test Type, Application, And Competitive Landscape with Top Companies

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The global vaccine market is growing significantly due increasing initiatives by non-government organizations to provide immunization and improvement in production technique of vaccine in the industry. Various programs and campaigns are organized, such as Immunization Week by World Health Organization, to create awareness among the population all over the world. Massive unexplored market in vaccine industry of developing economies are creating ample opportunities for the vaccine market to grow at a considerable rate in the coming years.

Moreover, the advanced research and development facilities, and new and innovative product developments by the companies are propelling the growth of the vaccine industry. Increasing prevalence of cancer and infectious diseases is fuelling the growth of the vaccine market. Infectious diseases are the major contributor to the human mortality and morbidity. According to World Health Organization, approximately 129,064 cases were reported in 2013. Vaccination has rescued millions of lives to provide secure and better life.
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Some of the factors driving the growth of global vaccine market are rising government and non-government funding for vaccine development, increasing prevalence of diseases such as cancer and infectious diseases, and increasing use of adjuvants in vaccine preventable diseases. In addition, increasing healthcare expenditure, and increasing awareness about immunization are also some of the factors fueling the growth of the global vaccine market. However, strict regulatory requirements for approval of drugs and high capital investment in research and development are some of the factors restraining the growth of the vaccine market to some extent.

Geographically, North America will be leading the global vaccine market in the coming years, due to increasing government funding for vaccines, increasing company investments for vaccine research and increasing prevalence of diseases. Asia-Pacific is the fastest growing region in the global vaccine market. The major reasons for the fastest growth of vaccine market in the region are improving healthcare infrastructure, increasing healthcare expenditure, large population base suffering from various diseases, in the region. Moreover, the vaccine market is growing due to increasing immunization initiatives and awareness by organizations, such as World Health Organization and GAVI, in the emerging countries, such as India and China, of Asia-Pacific region.

Some of the companies operating in the global vaccine market are GlaxoSmithKline, Plc., CSL Limited, Sanofi, Medimmune, LLC., Emetgent Biosolutions, Inc., Novartis, AG, Pfizer, Inc., Merck & Co., Inc., Bavarian Nordic, and Johnson & Johnson.
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