Vaccination is encouraged by governments and institutions as it enhances immunity against diseases, yet, there is insufficient vaccination coverage in Middle East Africa market. The persisting vastness of this gap between demand and supply will drive the market growth for the next few years. Market Research Report (MRFR) has revealed in its latest report that the human vaccines market Size in Middle East Africa will reach a record level of USD 5.46 Bn by 2022 from USD 2.8 Bn in 2015. The market will exhibit a robust CAGR of 11.8% across the projection period.
The hindrances to market growth that overshadows immense potential exhibited by the market to some extent are – lack of awareness, side effects of vaccination, declining profitability in vaccine manufacturing, eradication of diseases, difficulty in producing vaccines for microbes with high mutations such as HIV, etc.
Regional Analysis:
The most significant share of revenue in Middle East Africa region will be generated from U.A.E. due to its speeding pace of development in the healthcare sector, rapid urbanization, rise in healthcare expenditure, etc. The growing awareness about the diseases and the possibility of prevention has catapulted the demand in the region. Egypt trails U.A.E’s share of revenue contribution and is expected to retain its position for the next six years.
The market in Africa holds tremendous potential for growth as there is a massive gap between the need and access which will catalyze the demand in the market for the next few years. Furthermore, the frequent outbreak of diseases and significant death rate due to lack of proper vaccination has motivated the organizations such as World Health Organization (WHO) to undertake initiatives and spiral market expansion. According to WHO, in Africa, 30 million children under-five age group fall sick due to diseases that can be prevented through proper vaccination, and of these, over half a million die. Owing to the poor vaccination coverage, the market in Africa is expected to grow at the fastest pace, especially in Sub Saharan regions.
Human Vaccines Market Segmentation:
By technology, the human vaccines market in Middle East Africa has been segmented into attenuated, inactivated, toxoid, conjugate subunit, and, recombinant DNA.
By disease indication, the human vaccines market Insights is segmented into pneumococcal, influenza, hepatitis, rotavirus, DTP, polio, and, others.
By type, the market for human vaccines has been segmented into prophylactic and therapeutic.
By composition, the market has been segmented into mono vaccine and combination vaccines.
By end user, the market is segmented into children and adults.
By route of administration, the market has been segmented into oral, injectable and other.
Competitive Dashboard:
The key players profiled by Market Research Future (MRFR) in its report are Merck Co. Inc., Sanofi Pasteur, Inc., Bharat Biotech, Valeant Pharmaceuticals, AstellasPharma Inc., GlaxoSmithKline Plc., Pfizer, Inc., AstraZeneca Plc., Shenzhen Kangtai Biological Products, Emergent Biosolutions Inc., and, Panacea Biotec. The players strive to penetrate the market and tap the unexplored opportunities available in the market by the employment of strategies such as collaboration with government institutions, widening access of vaccines in remote areas, creating awareness, etc.
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