Growing Initiatives By Global Agencies Concerned With International Public Health
The various initiatives taken by WHO and UNICEF to supply low cost vaccines to low income countries globally is anticipated to drive the growth of the market over the forecast period. The governments are taking initiatives globally to promote vaccinations against DTaP diseases. Additionally, with more people preferring to give dosage of these vaccines for their children, followed by growing awareness about these diseases among the population including its causes, remedies and prevention is anticipated to positively drive the growth of the market over the forecast period.
Increased Birth Rates And A Huge Geriatric Population
The rise in birth rates and presence of a large geriatric population is anticipated to drive the growth of the market, owing to increased demand for the product by the population belonging to these categories. The vaccines are given to young children and pregnant women to boost their immunity against DTaP disease. Additionally, adults are also given these dosages that can act as a booster in order to help them recover from the effects of lesser vaccine. Moreover, these vaccines are available at lower costs, owing to which their global acceptance and adoption is anticipated that is expected to boost the growth of the market over the forecast period.
Lack Of Awareness In Underdeveloped Nations
The market for DTaP vaccines is anticipated to foresee a steady rate of growth in the underdeveloped nations, owing to the inadequate levels of awareness among the population about DTaP vaccines in these nations. This could encourage more market players to tap the market potential prevailing in these nations for expanding their outreach in these markets, by bringing in more awareness about DTaP vaccines and explaining the benefits of staying vaccinated to protect individuals from any illnesses associated with DTaP.
The global diphtheria, tetanus and pertussis vaccine (DTaP) market is anticipated to record a modest CAGR over the forecast period i.e. 2019-2027, owing to increased awareness about the diseases and prevalence of high birth rates. The initiatives taken up by both government and other organizations such as NGOs to provide better child care vaccination is anticipated to increase the growth of the market over the forecast period. Additionally, the increase in accessibility of vaccines globally coupled with increased investment of private sector in healthcare is anticipated to increase the demand for the vaccine over the forecast period. The initiatives by World Health Organization (WHO) and United Nations International Children’s Emergency Fund (UNICEF) have resulted in 9 out of 10 children receiving their first dosage, thereby helping protect most of the children from such infectious diseases. However, significant increase in population and growing child birth rates are anticipated to increase the demand for second dosage, which is expected to contribute to the growth of the market over the forecast period.
The market is segmented into disease type, product type, vaccine type and by end user . The disease type segment is further segmented into diphtheria, tetanus and pertussis, out of which the pertussis segment is anticipated to occupy the leading market share, owing to increased cases of infants affected by pertussis as compared to other segments. The pertussis disease is anticipated to witness around 1, 00,000 cases globally during the forecast period. Additionally, the vaccines are given at the time of pregnancy in order to increase the level of antibodies within infant’s body. The vaccination centers forming part of end user segment is estimated to witness significant growth, on account of increasing number of regular cases that are to be attended to, coupled with availability of vaccines as compared to other segments.
Get more information on this report: Download Sample PDF
Side Effects of Vaccine Usage
The side effects associated with vaccine for individuals such as high fever upto 105F, seizures that can affect for a longer period, coma, fussiness and many more are anticipated to hinder the growth of the market over the forecast period. Additionally, in some cases infants are allergic to vaccine medication. Sometimes, proper post vaccine care is not received, that could affect the health of individuals. All these factors are anticipated to act as restraints to the growth of the market over the forecast period.
High Research & Development Costs
The high research and development costs connected to development of these vaccines could limit the opportunity for bringing out more innovations and restrict any further medical developments in this field and act as a barrier to the growth of the market over the forecast period.
Our-in depth analysis of the diphtheria, tetanus and pertussis vaccine (DTaP) market includes the following segments:
By Disease Type
By Product Type
By Vaccine Type
By End User
By Region
On the basis of regional analysis, the diphtheria, tetanus and pertussis vaccine (DTaP) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market in North American region is anticipated to hold the leading market share over the forecast period, owing to presence of major market players in the region. The high adoption of these vaccines coupled with high awareness about these diseases are anticipated to increase the growth of the market. Additionally, the increasing private sector investment in research and development of healthcare industry is anticipated to increase the growth of the market over the forecast period. The market in Europe is also anticipated to witness huge growth in the market during forecast period, owing to increase in research & development activities coupled with rise in investments in healthcare sector. The market in Asia-Pacific is expected to witness fastest growth on the account of higher rate of population growth and increased adoption of vaccine. The growing number of government initiatives, for instance the efforts of National Health Mission in India that is working towards addressing the health needs of many areas especially in the rural areas is anticipated to contribute to the growth of the market in the region over the forecast period. The market in Middle East and Africa is estimated to witness slow growth, owing to lesser availability of vaccines and lower levels of awareness about these vaccinations in the region.
The diphtheria, tetanus and pertussis vaccine (DTaP) market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Submit Your Request For Proposal (RFP)