In a recently published report, Vaccine and Drugs Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Vaccine and Drugs Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Vaccines are doses of killed microbes which stimulate the immune systems of the body against that particular microbe, preventing the diseases As the dead microbes of the disease are injected, the body develops resistance towards that particular type of microbe thus preventing the disease when the live microbes attack the human and boosting the immune system and Drugs are the compounds which change the functioning of the consumer when inhaled. Thus, both Vaccines and Drugs are used to prevent and treat diseases. The increase in number of infectious diseases across the globe including Swine Flu, Ebola, Influenza, Tuberculosis, hepatitis and more drive the market for Vaccines and Drugs. These infectious diseases transmit quickly and hence vaccines are required to immunize the population. For Instance: the spread of the COVID-19 virus has steered the vaccine and drug market towards growth. With the disease declared as a pandemic the requirement for its Vaccine and drugs has soared. This is due to the large population being infected by the virus which increases the demand for treatment drugs. As per the World of Meters, as of 6th may 2020, there were around 3.7 million cases of COVID-19 across the globe.
The treatment of these huge number of infected people brings a steep incline in the vaccine and drugs market. Due to these treatment efforts, 1.2 million people have been cured. Moreover, to save the rest of the population of the world from the novel Corona Virus, the development of a Vaccine is essential. This has led to increased investments and efforts in the research and development department of the medical sector. Laboratories across the globe are working on developing a vaccine for the virus which has boosted the Vaccine market. As the increasing number of clinical trials propels an increase in the vaccine and drugs market. As of 17th April 2020, the national Medical Products Administration of China approved Two COVID-19 inactivated vaccines for a phase 1 and 2 combined trial. Moreover, in March 2020, two major pharma companies, Pfizer and BioNTech announced a joint venture to co-develop and distribute coronavirus vaccine. Also, in April 2020, Johnson & Johnson announced to produce to 900 million COVID-19 vaccine by the first quarter of 2021.Hence the spread of the pandemic has stimulated share activity in the vaccine and drug market leading to its growth. However, Stringent regulations and Lengthy approval procedure impedes the growth of the market over the forecast period of 2020-2026.
The regional analysis of global Vaccine and Drugs market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of major pharma companies in the region which have the resources to develop the vaccine. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising populations and growing number of cases along with early clinical trial approvals would create lucrative growth prospects for the Vaccine and Drugs market across Asia-Pacific region.
Major market player included in this report are:
Pfizer Inc. (US)
Johnson & Johnson Services Inc (US)
GlaxoSmithKline plc. (UK)
Sanofi S.A (France)
Serum Institute of India (India)
Gilead Sciences Inc. (US)
F. Hoffmann-La Roche Ltd (Switzerland)
Merck KGaA (Germany)
Janssen Pharmaceuticals, Inc. (Belgium)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Global Vaccine and Drugs Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
About Kenneth Research
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