According to the new market research report by Industry ARC titled “
Hungarian Vaccines Market: By Type, By Technology, By Disease Indication, By End User, and By Geography Analysis - Forecast (2018 - 2023)
,” the market is driven by the new technological advancements and collaboration strategies adopted by key players.
The Inactivated Vaccines segment holds the major share in Hungarian Vaccines Market
The Inactivated Vaccines segment dominated the market with a large market share. Researchers and market players invest in R&D to develop safe and effective vaccines, and introduce new inactivated vaccines after clinical studies have been completed, thus boosting the growth of the inactivated vaccines market. The increasing prevalence of various viral and bacterial diseases has increased the demand for inactivated vaccines, which in turn is fuelling the growth of the market. The Hungary Inactivated Vaccines Market is projected to grow at a CAGR of 5.06%.
Selected/Sample Analysis done in full report
By Disease, the Influenza segment has witnessed a large growth due to the fact that it is the most common disease that can occur to any age group of people. Influenza resolves on its own for most people. But sometimes influenza and its complications can be deadly for young children under the age of 5, particularly children under 2 years of age and adults older than 65 years. In Hungary, those aged ≥65 years are recommended for vaccination for influenza.
By End User, the Pediatrics segment is on growth because of increased incidence of infant diseases such as chicken pox, typhoid, cholera, measles and hepatitis, leading to high demand for immunization, which has a positive effect on the vaccines market.
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Excerpts on Market Growth Factors
- Based on diseases, the Influenza segment is expected to hold a major share of the market.
- GlaxoSmithKline is expanding vaccine production in Hungary and has invested HUF 18 billion into its Hungarian Vaccine Unit.
- The rising company initiatives to enhance the R&D in vaccines, and the growing government support for vaccine development are projected to accelerate the growth of the Hungarian vaccines market in the next few years.
Key players of the Hungarian Vaccines Market
Pfizer Inc., a New York based company which operates in more than 60 countries offers various types of product such as Prevnar 13/Prevenar 13, Nimenrix, Trumenba and Others. The major competitors in this market are GlacoSmithKline, Merck and Co, Sanofi Pasteur and many more.
The Hungarian Vaccines Market is segmented as below:
The Hungarian Vaccines market is segmented based on various categories including technology, diseases, and end users.
A. Hungarian Vaccines Market -- By Technology
1. Live Attenuated Vaccines
2. Inactive and Subunit Vaccines
3. Toxoid Vaccines
4. Conjugate Vaccines
5. Recombinant Vaccines
B. Hungarian Vaccines Market -- By Disease Indication
1. Pneumococcal Disease
4. Human Papilloma Virus
5. Meningococcal Disease
C. Hungarian Vaccines Market -- By End User
D. Hungarian Vaccines Market -- Market Entropy
E. Companies cited/Interviewed
1. GlacoSmithKline plc
2. Merck & Co.
3. Sanofi Pasteur
4. Pfizer Inc.
1. Veterinary Vaccines Market
2. Medical Robotics Market
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