The North America human vaccines market is expected to reach US$ 24,510.0 Mn in 2027 from US$ 14,566.0 Mn in 2018. The market is estimated to grow with a CAGR of 6.0% from 2019-2027.
A vaccine is a biological preparation that provides active acquired immunity to a particular infectious disease. A vaccine typically contains an agent that resembles a disease-causing microorganism and is often made from weakened or killed forms of the microbe, its toxins, or one of its surface proteins.
The growth of the market is driven by the factors such as compulsion or mandate vaccination and dropping vaccination rates. However, the vaccines market is likely to get impacted due to the low awareness about the benefits of vaccines during the forecast period.
The North America Vaccines market is growing along with the healthcare industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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The epidemic of measles in Disneyland in California, US has enforced the dropping of the rates for the vaccination. The instance took place in 2014, the epidemic of the measles has sickened approximately 111 people in California and has also spread to six other states as well as Canada and Mexico. The vaccination has been used safely and effectively for the decades and the rising numbers of the measles has led to more vaccinations. The children are more susceptible to falling prey to the diseases, therefore majority of the parents in US vaccinate their children on schedule.
Additionally, the vaccinations rates are reimbursed by the Medicaid and the reimbursement for Medicaid vaccine administration varies by state however it is as low as US$2 in some states. Also the use of the combination vaccines has been permitted by the Advisory Committee on Immunization Practices (ACIP) at the Centers for Disease Control (CDC). This is a safe and efficacious measure to decrease the number of injections needed to complete the childhood immunization schedule. Hence, the dropping rates of the vaccination rates are likely to raise the market significantly in the forecast period.
These factors are expected to offer broad growth opportunities in the healthcare industry and this is expected to cause the demand for immunochemistry assays in the market.
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NORTH AMERICA VACCINES- MARKET SEGMENTATION
By Disease Indication
By Rout of Administration
By Patient Type
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