The latest research study “Monkeypox Vaccine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global monkeypox vaccine market is expected to exhibit a CAGR of 14.90% during 2022-2027.
The monkeypox vaccine represents specialized biological preparations that help prevent the zoonotic viral disease caused by the monkeypox virus belongs to the Orthropox genus from the Poxviridae family and transmitted through close contact with an infected person’s body fluids or contaminated items, respiratory droplets, bedding, lesions, etc. and categorized into two types, including replication-competent and replication-deficient.
The monkeypox vaccine variants activate the immune system to produce antibodies against the virus and develop the natural defense system of the body so that it can make its own protection and aid in containing the heightened need for hospitalization and mortality rate and the monkeypox vaccine formulations are extensively used in hospitals, clinics, and other healthcare facilities across the globe.
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Monkeypox Vaccine Market Trends and Drivers:
The increasing cases of monkeypox infections across countries resulting in the declaration of a public health emergency by WHO are primarily driving the monkeypox vaccine market. Additionally, the rising investments in research and development (R&D) activities to introduce novel monkeypox vaccines and treatment drugs, such as the funding received by the UK Health Security Agency (UKHSA) and the UK Medicines and Healthcare Products Regulatory Agency (MHRA) from the Coalition for Epidemic Preparedness Innovations (CEPI) to support the innovation of laboratory tools for evaluating monkeypox vaccines are further catalyzing the market growth.
The launch of several initiatives by the government bodies aimed at spreading awareness among the masses about and the importance of immunization to ensure disease prevention in endemic and rural areas, is acting as another significant growth-inducing factor and the elevating adoption of genomic sequencing, elucidates the specific infection-causing sequences and assists in the introduction of effective treatments, is expected to propel the monkeypox vaccine market in the coming years.
Monkeypox Vaccine Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
The report has segmented the market on the basis of type, route of administration, distribution channel and end user.
Route of Administration:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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