Growth in awareness in people about the advantages of DTP vaccines & rise in initiatives by pharmaceutical companies to enhance R&D for vaccine drive the market

PORTLAND, OR , UNITED STATES, October 16, 2020 /EINPresswire.com/ -- 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.

Covid-19 Scenario-

The coronavirus outbreak has not much affected the global diphtheria, pertussis, and tetanus vaccine (DTP) market. In addition, due to the DTP vaccine recommended for the treatments on respiratory tract and throat infection, the market has witnessed an increased.
Moreover, due to the rise in awareness regarding common symptoms of coronavirus, the market has observed increased use of DTP vaccines.
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

AJ Vaccines
Bionet-Asia
GlaxoSmithKline plc (GSK)
Johnson & Johnson
Massbiologics
Meiji Holdings Co.
Ltd. (KM biologics co., Ltd.)
Merck & Co., Inc.
Panacea Biotec Ltd.
Sanofi
Serum Institute of India Pvt. Ltd.
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