Report Overview

The EU Vaccines Therapeutics market size stood at round USD $0.7billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period

Vaccines, also known as immunizations, inject a weakened form of a disease into a person so the body begins producing antibodies or immunity against the disease. Effective immunization has eradicated a number of diseases, like polio and smallpox, with high death rates. Vaccinations play a crucial role to maintain sustainable health of people across different countries; hence, they are employed in various regional disease-prevention strategies. The demand for vaccinations has increased over the past few years, owing to increase in incidence of both viral and bacterial infectious diseases. Vaccinations are essentially administered to people of different age groups, which strengthen their immune system throughout lifetime and offers protection against different types of infectious diseases



Market Drivers

An increase in fundings from the government for vaccine development, a rise in investments by the major market players, rising prevalence of the disease, technological advancements, initiatives by NGOs are some of the factors that are propelling the market growth. In the pipeline, several approaches are being developed to boost the immune response to various infectious and cancerous cells. There are presently close to 120 new vaccines in the pipeline of various multinational companies across the globe set to hit the market in the next few years