A new market report predicts that the Enterovirus Vaccine market is set to grow at a compound annual growth rate (CAGR) of 8.1% from 2023 to 2030. The market is driven by the increasing incidence of enterovirus infections and the rising demand for vaccines to prevent these infections.
Enteroviruses are a group of viruses that cause various diseases in humans and animals. They are typically found in respiratory secretions and feces of infected individuals. The most well-known enterovirus is poliovirus, which causes polio. Other enteroviruses, such as enterovirus 71 (EV71), can cause hand, foot, and mouth disease.
The global Enterovirus Vaccine market was estimated to be worth USD 2,059.52 million in 2022 and is projected to reach USD 3,286.39 million by 2028. The market is segmented by type, including human enterovirus 71 and polioviruses, and by application, including hospitals, clinics, and others.
The market is dominated by key global manufacturers, including the Chinese Academy of Medical Sciences, GSK, Serum Institute, Sanofi Pasteur, and Sinovac Biotech. These companies have a significant market share and play a crucial role in developing and manufacturing enterovirus vaccines.
Sanofi Pasteur, the vaccines division of the French multinational pharmaceutical company Sanofi, is one of the major players in the market, holding a share of 36.59% in 2022. The Chinese Academy of Medical Sciences is another important player in the market, focusing on research and development of Chinese medicine.
The Asia-Pacific region currently holds the largest share of the Enterovirus Vaccine market, accounting for 57.50% in 2021. This is attributed to the high incidence of enterovirus infections in the region and the growing awareness of vaccination to prevent these infections.
The market report highlights the importance of effective business strategies, customer acquisition methods, and corporate synergies in driving market growth. It also emphasizes the need for strong governance, risk management, and compliance protocols, as well as agile business transformation processes.
Overall, the Enterovirus Vaccine market is expected to experience significant growth in the coming years, fueled by the increasing demand for enterovirus vaccines and the efforts of key market players to develop and manufacture effective vaccines.
Sources:
– Market Research Report “Enterovirus Vaccine Market (CAGR of 8.1% 2023 – 2030)” by 360 Market Updates
