Size of the human vaccines market in the Middle Eastern and African regions is increasing continually. The market growth is predominantly driven by the increasing prevalence of various infectious diseases, including influenza, smallpox, measles, and tetanus. Besides, the growing emphasis of healthcare systems on the prevention of these diseases fosters the growth of the market. Moreover, the rapidly spreading awareness towards the healthcare and the availability of various effective vaccines are escalating the market to further heights.
The market for human vaccinations in the Middle East and Africa was estimated to be worth USD 0.6 billion in 2022. The Human Vaccines market share is expected to increase from USD 0.63 billion in 2023 to USD 1.03 billion by 2032, with a compound yearly growth rate (CAGR) of 5.7% over the forecast period (2023-2032). The MEA region offers immense growth potential and opportunities for the players operating in the human vaccine market.
Additionally, factors such as the large unmet needs and favorable government policies and international bodies, such as the World health organization (WHO), boost market growth. Also, increased funding from philanthropy organizations such as Bill and Melinda Gates Foundation, the development of new vaccines, and the adoption of several new vaccines for the national immunization schedule in many countries are some of the major tailwind drivers driving the market growth.
Additionally, the governments undertaking various initiatives for vaccination against diseases and the excellent management of public awareness programs accelerate the growth of the MEA human vaccines market. The rapidly spreading awareness of vaccination among the demographics and the growing production of cost-effective vaccines across the regions, substantiate the market growth in these regions.
Furthermore, improving healthcare infrastructure, increasing demand for human vaccines, and trends, such as the robust research pipeline, push the growth of the market. Besides, the adoption of evolving DNA recombinant technology in the development of novel vaccines acts as growth drivers for the market.
Conversely, factors such as the patent expiry of some breakthrough vaccines and side effects associated with vaccines are impeding the growth of the market. Also, the variability of efficient vaccines and complexities in vaccine production for microbes with high mutations, such as HIV, hamper the market growth. The low profitability in vaccine manufacturing has reduced incentives for developing vaccines for diseases of the developing world, such as tuberculosis and malaria.
The MEA Human Vaccines Market - Segmentation
The report is segmented into seven key dynamics;
By Technology: Attenuated, Inactivated, Toxoid, Conjugate, & Subunit, Recombinant DNA, and others.
By Disease Indication: Influenza, Pneumococcal, Hepatitis, Rotavirus, DTP, Polio, and others.
By Type: Prophylactic, Therapeutic, and others.
By Composition: Mono Vaccine and Combination Vaccines.
By End-user: Children and Adults.
By Route of Administration: Oral, Injectables, and others.
By Regions : Israel, Turkey, GCC, and the rest-of-the-Middle-East and Countries in the African region.
The MEA Human Vaccines Market - Country-wise Analysis
The MEA human vaccines market is emerging as a lucrative market, growing overall. The United Arab Emirates (UAE) holds for the largest share in the MEA human vaccines market insights, followed by Egypt. On the other hand, Sub Saharan regions of Africa, account for the fastest-growing market, followed by the-rest-of-the-African market, due to the huge unmet medical needs. Also, increasing per capita healthcare expenditures and the rising R&D funds invested for the new vaccine development act as major tailwinds for the market growth, especially in the Middle Eastern regions.
The Human Vaccines Market -MEA - Competitive Analysis
The MEA human vaccines market witnesses a moderate level of the competition. The presence of many internationally acclaimed players makes the market look diversified. Players substantially invest in R&D to develop safe, effective, and affordable vaccines.
They create vaccines that can prevent various infections in uninfected people, giving priority to the game-changing potential to control and ultimately ending the pandemics. Industry players also invest heavily to expand their global footprints, tapping emerging markets. They strive to deliver the most reliable products to drive customer-centric growth.
Major Players:
Players active in the MEA human vaccine market are Merck & Co. Inc., Plc., GlaxoSmithKline, Pfizer, Inc., Sanofi Pasteur, Inc., AstraZeneca Plc., Bharat Biotech, Shenzhen Kangtai Biological Products, Valeant Pharmaceuticals, Emergent Biosolutions Inc., Astellas Pharma Inc., and Panacea Biotec, among others.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Contact Us:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
English