DIPHTHERIA VACCINE MARKET ANALYSIS

Diphtheria Vaccine MarketSize and Trends

Global diphtheria vaccine market is estimated to be valued at US$ 5,097.9 million in 2022 and is expected to exhibit a CAGR of 5.86% during the forecast period (2022-2030).

Global Diphtheria Vaccine Market- Driver

The increase in the prevalence of diphtheria in India

The increase in the prevalence on diphtheria in India is expected to drive the market growth over the forecast period. For instance, according to data published by Knoema, a U.S. based data Technology Company, in June 2022, there were around 1,768 number of cases of diphtheria in U.S., in 2021.

The increase in the collaboration and partnership by key market players

Key market player are adopting strategies such as partnership and collaborations in order to launch new products, this is expected to drive the market growth for the forecast period. For instance, in June 2021, Sanofi, a French multinational pharmaceutical and healthcare company, announced that they have entered into a partnership with Merck & Co., Inc., an American multinational pharmaceutical company, so as to develop vaccine for Diphtheria and other disease such as Tetanus.

Global Diphtheria Vaccine Market Segmentation:

The global diphtheria vaccine market report is segmented into vaccine types, age group, and end user

Based on Vaccine Types, the market is segmented into DTaP vaccine, DT vaccine, Tdap vaccine, and Td vaccine. Out of which, DTaP vaccine segment is expected to dominate the diphtheria vaccine market during the forecast period and this is attributed due to increase in the usage of DTaP vaccine and product launch.

Based on Age Group, the market is segmented into pediatrics, and adults. Out of which, pediatrics segment is expected to dominate the market over the forecast period and this is attributed due to increase in the research and development activities by key market players for pediatrics segment.

Based on End User, the diphtheria vaccine market is segmented into hospitals, clinics, and vaccination centers. Hospitals is expected to dominate the market over the forecast period and this is attributed to the increase in government initiatives to launch news wards for diphtheria in hospitals.

Among all segmentation, age group segment has highest potential due to high demand of diphtheria vaccine in pediatrics population. For instance, in July 2022, United Nations Children's Fund announced that 25 million children missed out on one or more doses of DTP through routine immunization services in 2021 alone.