PORTLAND, Oregon, June 9, 2020
Growth in awareness among people about the advantages of DTP vaccines and rise in initiatives by pharmaceutical companies to enhance R&D for vaccine drives the global diphtheria, pertussis, and tetanus vaccine (DTP) market
PORTLAND, Oregon, June 9, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Diphtheria, Pertussis, and Tetanus Vaccine (DTP) Market by Product Type (DTaP vaccine (Diphtheria-Tetanus-acellular Pertussis vaccine), TD (Tetanus and Diphtheria) vaccine, and Tdap (Tetanus-Diphtheria-Acellular Pertussis) vaccine, by Age Group (Adult and Pediatric), and by End User (Hospitals, Clinics, and Vaccination Centers): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global diphtheria, pertussis, and tetanus vaccine (DTP) market garnered $4.75 billion in 2019, and is estimated to reach $7.05 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.
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Drivers, restraints, and opportunities-
Rise in initiatives by pharmaceutical companies to enhance R&D for vaccines and growth in awareness among people about the advantages of DTP vaccines drive the growth of the global diphtheria, pertussis, and tetanus vaccine (DTP) market. However, high production cost of vaccine and inadequate access to vaccines in under developed countries hinder the market growth. On the other hand, innovative vaccine technologies are anticipated to offer new opportunities in the coming years.
The DtaP segment to maintain its lead status-
Based on product type, the DTaP segment accounted for more than three-fifths of the global diphtheria, pertussis, and tetanus vaccine (DTP) market in 2019, and is expected to maintain its lead status in terms of revenue throughout the forecast period. This is due to increase in use of DTaP vaccine in the treatment of infectious disease. However, the Tdap is estimated to portray the highest CAGR of 5.5% from 2020 to 2027.
The pediatric segment to maintain its leadership position-
Based on age group, the pediatric segment contributed to the highest market share with around three-fourths of the global diphtheria, pertussis, and tetanus vaccine (DTP) market in 2019, and is estimated to maintain its leadership position during the forecast period. This is attributed to growth in research and development (R&D) activities and increase in demand for DTP vaccine among infants. However, the adult segment is estimated to generate the fastest CAGR of 5.5% from 2020 to 2027. This is attributed to rise in incidences of infectious diseases among adults.
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North America is anticipated to dominate the market by 2027
Based on region, North America accounted for the highest share based on revenue, holding for nearly two-fifths of the global diphtheria, pertussis, and tetanus vaccine (DTP) market in 2019, and is projected to maintain its dominant position throughout the forecast period. This is attributed to the presence of maximum number of key players in this region. However, the Asia-Pacific is estimated to generate the fastest CAGR of 6.1% from 2020 to 2027. This is attributed to the established immunization structures and high health awareness among people in this region.
Leading market players
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