The Measles Vaccine Market is projected to reach USD 2,937.2 Million by 2030 at 7.9% CAGR during the forecast period 2022-2030.
Measles Vaccine or rubeola is a contagious viral infection majorly affects the respiratory system. An infected person can release the pathogens into the air when they cough or sneeze. The main symptom of Measles Vaccine is an itchy skin rash. The rash often starts on the head and moves down the body. Other symptoms include fever, cough, runny nose, and conjunctivitis. Measles Vaccine is one of the leading causes of death in children. According to the World Health Organization (WHO), in 2014, 114,900 global deaths related to Measles Vaccine was reported and that most of the patients were under the age of 5. Increasing prevalence of the disease and changing lifestyle are the major drivers for the growth of the market. Moreover, increasing prevalence of immunological diseases and increasing government support for research & development have fueled the market growth. However, high cost of the treatment may hinder the growth of the market over the review period.
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Regional Analysis
The Americas account for a significant share of the market owing to the presence of huge patient population with various diseases. According to the Autoimmune Registry, in 2012, 14.7 million people in the US were suffering from autoimmune diseases. Auto immune diseases is one of the major factors responsible for Measles Vaccine. Additionally, high healthcare spending and increasing government support for research & development have fueled the market growth in this region.
Europe holds the second largest market, which is followed by Asia Pacific. Asia Pacific is the fastest growing market for Measles Vaccine. Presence of huge population base, rapidly developing economy, and presence of huge opportunity for the development of the market have boosted the market growth. India and China are the major contributor to the growth of the market owing to developing healthcare sector and increasing health care expenditure.
The Middle East & Africa holds the lowest share in the market due to limited availability of medical facilities. UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Whereas, the African region is expected to witness a moderate growth.
Segmentation
The global Measles Vaccine market has been segmented on the basis of types, treatment, and end users.
On the basis of type, the market is segmented into red Measles Vaccine and German Measles Vaccine.
On the basis of treatment, the market is segmented into antibiotic treatment, antiviral treatment, vaccine, and others. Vaccines are further segmented into mumps Measles Vaccine rubella vaccine, live (MMR-II) & mumps Measles Vaccine rubella, and varicella virus vaccine (Proquad).
On the basis of end user, the market is segmented into hospital, clinics, and others.
Key Players
Some of key players profiled in the report are Abbott (US), Novartis AG (Switzerland), Biomedical diagnostics (US), Johnson & Johnson Services, Inc. (US), Sanofi (US), Merck & Co., Inc. (US), Serum Institute of India Pvt. Ltd. (India), Bavarian Nordic (Denmark), MedImmune (US Astellas Pharma Inc. (Japan), CSL Limited (Australia), Emergent BioSolutions Inc. (US), and GlaxoSmithKline plc (US), and others.
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