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The global tetanus toxoid vaccine market size was USD 1.43 billion in 2022 and is expected to reach USD 2.42 billion in 2032, and register a revenue CAGR of 6%.
NEW YORK CITY, NY, UNITED STATES, June 15, 2023/EINPresswire.com/ — The Tetanus Toxoid Vaccine Market size was USD 1.43 billion in 2022 and is projected to reach USD 2.42 billion by 2032, with a compound annual growth rate (CAGR) of 6% during the forecast period. Tetanus, a bacterial infection commonly known as lockjaw, is caused by Clostridium tetani and affects the nervous system, leading to muscle stiffness and spasms. Tetanus can be a life-threatening condition, and immunization is the most effective preventive measure. The increasing awareness among the public about the importance of immunization in preventing infectious diseases is driving the demand for tetanus toxoid vaccines.
Governments worldwide are actively supporting vaccination programs to prevent the spread of infectious diseases, including tetanus. Initiatives such as the Expanded Program on Immunization (EPI) by the World Health Organization (WHO) have significantly improved access to immunization in underdeveloped countries, contributing to the growth of the market. Additionally, government funding for the research and development of new and improved vaccines is driving the revenue growth of the tetanus toxoid vaccine market.
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Furthermore, the rising prevalence of tetanus worldwide is fueling the demand for tetanus toxoid vaccinations. According to the WHO, tetanus remains a significant public health concern in many countries, with an estimated 30,000 cases expected globally in 2020. As a result, there is an increasing need for immunizations to prevent the disease, leading to the expansion of the tetanus toxoid vaccine market and its revenue growth.
Segments Covered in the Report –
The global tetanus toxoid vaccine market offers a range of vaccine types to cater to different needs. One of the types is the conventional tetanus toxoid vaccine, which provides protection against tetanus infection. Another type is the tetanus toxoid vaccine combined with reduced diphtheria toxoid and acellular pertussis vaccine, offering immunization against tetanus, diphtheria, and pertussis (whooping cough). Additionally, there are tetanus toxoid and diphtheria toxoid vaccines available, as well as tetanus toxoid and reduced diphtheria toxoid vaccines. These various vaccine types provide options for healthcare professionals and individuals seeking immunization against tetanus.
In terms of end-use, the tetanus toxoid vaccine market serves different healthcare settings. Hospitals play a crucial role in administering vaccines and ensuring the protection of their patients. They serve as primary locations for vaccination programs and are equipped to handle a large number of immunizations. Clinics also contribute significantly to the distribution of tetanus toxoid vaccines, offering convenient access for individuals seeking preventive care. Besides hospitals and clinics, other healthcare facilities or providers may also play a role in delivering tetanus toxoid vaccines to the public. These include specialized centers or organizations dedicated to vaccinations and other healthcare services.
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Strategic development:
• According to an announcement by Sanofi S.A., a new tetanus toxoid vaccine called Tetanus Toxoid Vaccination Adsorbed (TTV) will be launched in the United States in 2021. This vaccine is specifically recommended for individuals aged 7 and above who require an active tetanus immunization.
• In 2020, Pfizer Inc. made public its successful acquisition of Anacor Pharmaceuticals, Inc., a biopharmaceutical company. The primary objective behind this acquisition was to enhance Pfizer’s portfolio of pharmaceuticals and vaccines, with a particular emphasis on expanding their offerings of tetanus toxoid vaccines.
• To increase the availability of tetanus toxoid vaccines in India and other countries, the National Institute of Virology (NIV) and Bharat Biotech International Ltd. entered into a licensing agreement in 2020. The aim of this agreement was to facilitate the commercial production of the vaccine, ensuring its wider accessibility in India and other nations.
• In 2020, the Serum Institute of India Pvt. Ltd. announced that it had received regulatory approval for manufacturing and distributing a novel tetanus toxoid vaccine called “Tetanus Toxoid (Adsorbed) Vaccine IP.” Similar to the TTV vaccine mentioned earlier, this vaccine is recommended for individuals aged 7 and above who require an active tetanus immunization.
Competitive Landscape:
The global tetanus toxoid vaccine market features several prominent companies that play a significant role in vaccine production and distribution. These companies are:
1. Sanofi S.A.: Sanofi S.A. is a renowned pharmaceutical company that is actively involved in the development and manufacturing of various vaccines, including tetanus toxoid vaccines. Their expertise and global presence make them a key player in the market.
2. GlaxoSmithKline plc: GlaxoSmithKline (GSK) is a leading pharmaceutical company that focuses on research, development, and manufacturing of vaccines and healthcare products. GSK offers tetanus toxoid vaccines as part of its vaccine portfolio.
3. Merck & Co., Inc.: Merck & Co., Inc., commonly known as Merck, is a global healthcare company that engages in the development and production of vaccines. Merck produces tetanus toxoid vaccines and contributes to the global supply.
4. Pfizer Inc.: Pfizer Inc. is a renowned pharmaceutical company that has a diverse range of products, including vaccines. With its acquisition of Anacor Pharmaceuticals, Pfizer has expanded its offerings in the tetanus toxoid vaccine segment.
5. Serum Institute of India Pvt. Ltd.: The Serum Institute of India is one of the largest vaccine manufacturers in the world. They have gained recognition for their production of affordable and high-quality vaccines, including tetanus toxoid vaccines.
6. Bharat Biotech International Ltd.: Bharat Biotech International is an Indian biotechnology company specializing in vaccine research, development, and manufacturing. They have partnered with the National Institute of Virology for the commercial production of tetanus toxoid vaccines.
7. Chiron Corporation: Chiron Corporation, a subsidiary of Novartis, is involved in the production of vaccines and other healthcare products. They have contributed to the tetanus toxoid vaccine market with their manufacturing capabilities.
8. Solvay Pharmaceuticals SA: Solvay Pharmaceuticals, a subsidiary of AbbVie, has a presence in the vaccine market. They participate in the production and distribution of tetanus toxoid vaccines.
9. Takeda Pharmaceutical Company Limited: Takeda Pharmaceutical Company is a global pharmaceutical company that focuses on research and development, including vaccines. They have a presence in the tetanus toxoid vaccine market.
10. SK Chemicals Co. Ltd.: SK Chemicals, a South Korean company, engages in the production of vaccines and pharmaceuticals. They are involved in the manufacturing of tetanus toxoid vaccines.
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These companies contribute to the availability and accessibility of tetanus toxoid vaccines worldwide, playing a vital role in immunization efforts and public health initiatives.
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