Respiratory Disease Vaccine Market: Introduction
- Respiratory disease is a type of disease, which affects the lungs and other parts of respiratory system. It can be caused due to smoking tobacco, passive smoking, infection, asbestos, and other kinds of air pollution.
- Respiratory diseases include asthma, pulmonary fibrosis, pneumonia, chronic obstructive pulmonary disease (COPD), and lung cancer
- COPD and asthma cause breathing difficult due to swelling of the air passage and blockage due to mucus. Certain vaccine-preventable diseases can cause swelling of air passage and lungs. The blend of the two can prompt pneumonia and different genuine respiratory ailments.
- Immunization is probably the most secure way to ensure a person’s wellbeing, regardless of whether he/she is taking prescribed medications. Vaccinereactions are normally mild and fade away on their own. Serious side effects are exceptionally uncommon.
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Key Drivers and Restraints of Global Respiratory Disease Vaccine Market
- According to the Forum of International Respiratory Societies (FIRS), 235 million people are suffering from asthma globally. Nearly, 10 million people develop tuberculosis annually, out of which 1.4 million succumb to the disease every year. Hence, rise in prevalence of respiratory disorders is a key factor driving the global market.
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- According to the World Health Organization (WHO), nearly 200 million people are suffering from chronic obstructive pulmonary disease (COPD), of which 65 million are moderate to severe cases. Around 3 million people die annually, making it the third leading cause of death across the world. Increase in cases of COPD is anticipated to boost the growth of the global respiratory disease vaccine market.
- According to the World Health Organization (WHO), various respiratory disease vaccines are in pipeline and undergoing clinical trials. Rise in number of vaccines in pipeline is expected to propel the global respiratory disease vaccine market.
- However, governing bodies have stringent policies for approval of vaccines. This is likely to restrain the global respiratory disease vaccine market.
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North America to Lead Global Respiratory Disease Vaccine Market
- In terms of region, the global respiratory disease vaccine market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global respiratory disease vaccine market, owing to government support for research & development in the field of vaccination and advanced health care infrastructure
- The market in Asia Pacific is projected to expand at the fastest CAGR during the forecast period due to cost-efficient research & development laboratories in the region and high prevalence of respiratory disorders
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- Governments in Latin America and the Middle East are taking initiatives in research & development of vaccines, leading to moderate growth of the market during the forecast period
- The market in in Africa is likely to grow at a sluggish pace due to slow economic growth in countries in the region
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