The latest report by IMARC Group, titled “Indian Vaccine Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, The Indian vaccine market size is expected to exhibit a growth rate (CAGR) of 12.3% during 2024-2032.
Vaccines refer to biological preparations consisting of an agent that is similar to a disease-causing pathogen to offer immunization against specific diseases. They are administered orally, by aerosol or through injections as a preventive measure for a number of diseases such as polio, measles, influenza and rabies. India currently represents one of the leading manufacturers and suppliers of vaccines in the world. It solely accounts for around 60% of the total vaccines supplied to the UNICEF, since the cost of manufacturing and clinical trials in India is relatively lower than in developed countries. Moreover, technological advancements and improved cold chain storage facilities have led to increased vaccine production capacity in the country.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/indian-vaccine-market/requestsample
Indian Vaccine Market Trends and Drivers:
One of the major drivers of the Indian vaccine market is the strong government support to the manufacturers. Steady government funding and successful initiatives have resulted in considerable market development over the years. Also, various government-funded campaigns have created widespread health awareness among the masses. For instance, the Universal Immunization Program (UIP) introduced by the Government with the aim to increase immunization coverage against vaccine-preventable diseases in the country has significantly boosted the demand for vaccines.
Besides this, the growing investments from private sector players to develop and distribute vaccines throughout the country, as well as in the international market, has strengthened the present vaccine manufacturing infrastructure. Apart from this, continuous research and development (R&D) activities have enabled manufacturers to introduce new and improved vaccines in the market. Some of the other factors positively influencing the market growth are increasing population, elevating incomes, improving cold chain logistics and active NGO participation.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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