PREVENTIVE VACCINES MARKET ANALYSIS

Regional Analysis

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North America remains the dominant region in the global preventive vaccines market and is estimated to hold 45.4% of the market share in 2024 due to the increasing adoption of inorganic growth strategies, such as acquisitions, by the key players. For instance, in May 2022, GSK plc, a pharmaceutical company, announced the acquisition of Affinivax, Inc., a clinical-stage biopharmaceutical company. Affinivax, Inc. is pioneering the development of a novel class of vaccines, the most advanced of which are next-generation pneumococcal vaccines.

The Asia Pacific region has emerged as the fastest growing market due to an increase in the prevalence of infectious diseases, focused on research and development activities and government initiatives for vaccine development. For instance, in September 2022, the Indian Government announced the scientific completion of India’s first indigenously developed vaccine, named ‘CERVAVAC’ for the prevention of cervical cancer. The quadrivalent Human Papilloma Virus (qHPV) vaccine against cervical cancer is affordable and cost-effective.