AI Assisted Healthcare is fueling the growth of Vaccine Technologies Market

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Vaccine Technologies Market

The global Vaccine Technologies Market is estimated to be valued at US$ 45.40 Bn In 2023 and is expected to exhibit a CAGR Of 11% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Vaccines induce immunity against specific infectious diseases by preparing the body's immune system to protect itself against future infection or disease. Common vaccine technologies include live-attenuated, inactivated, toxoid, subunit/component, conjugate, and recombinant vaccines. Vaccines effectively reduce morbidity and mortality from infectious diseases.
Market Key Trends:
One of the key trends in the vaccine technologies market is the high demand for recombinant vaccines. Recombinant vaccines are derived from DNA technology and contain genes that code for specific antigens. They do not contain any live bacteria or viruses. Instead, they contain the genes that code for bacterial and viral antigens. This helps in eliminating the need for traditional cell culture techniques required for vaccine production. As recombinant vaccines are highly immunogenic and can protect against multiple disease targets, their demand is increasing significantly. Moreover, several recombinant vaccines are under development to target infectious diseases like HIV, Ebola virus, tuberculosis, malaria, etc. which would further drive the growth of this segment over the forecast period.
Segment Analysis:
The vaccine technologies market is segmented based on technology, disease indication, type, end user and region. Based on technology, the recombinant vaccines segment is expected to dominate the market during the forecast period. Recombinant vaccines have advantages over traditional vaccines such as better efficacy, higher safety and controlled composition.
Key Takeaways:
The Global Vaccine Technologies Market Size is expected to witness high growth, exhibiting CAGR Of 11% over the forecast period, due to increasing prevalence of infectious diseases and growing focus on immunization programs.
Regional Analysis:
North America is expected to dominate the vaccine technologies market during the forecast period. This is attributed to growing disease awareness, rapid adoption of advanced vaccine technologies and strong presence of key players in the region.
Key Players:
Key players operating in the vaccine technologies market are Pfizer-BioNTech, Moderna, Johnson & Johnson, AstraZeneca, Sanofi Pasteur, Novavax, GlaxoSmithKline (GSK), Sinovac Biotech, Sinopharm, Bharat Biotech, Emergent BioSolutions, Dynavax Technologies, CureVac, Valneva, Takeda. The market is highly competitive with these players launching innovative products to gain more market share.