Global Measles, Mumps, Rubella Vaccine Market Size To Exceed USD 3.98 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Measles, Mumps, Rubella Vaccine Market Size is Expected to Grow from USD 1.66 Billion in 2023 to USD 3.98 Billion by 2033, at a CAGR of 9.14% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Measles, Mumps, Rubella Vaccine Market Size, Share, and COVID-19 Impact Analysis, By Type (Monovalent and Trivalent), By Target Population (Infants & Children and Adults), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
The global measles, mumps, and rubella vaccine market refers to the industry focused on creating, producing, and disseminating vaccines to stop these infectious illnesses. The growing demand for pediatric vaccinations to prevent worldwide disease outbreaks and problems, government vaccination programs, and growing immunization awareness are among its primary factors. Key driving factors for the growth of the measles, mumps, and rubella vaccine market include expanding vaccination awareness, the increasing incidence of measles, mumps, and rubella, advances in vaccine manufacturing technology, and strong support from agencies like the WHO and UNICEF, all contribute to the goal of universal vaccination coverage. However, high vaccine development costs, strict regulatory clearances in various countries, and cold chain storage requirements.
The trivalent segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period.
On the basis of type, the global measles, mumps, rubella vaccine market is divided into monovalent and trivalent. Among these, the trivalent segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period. The segment growth is attributed to increasing patient compliance, improving MMRV formulations, expanding access to vaccines in low-resource areas, raising demand for combined vaccinations, and significant expenditures made by corporations, including Merck, in manufacturing facilities.
The infants & children segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
On the basis of the target population, the global measles, mumps, rubella vaccine market is divided into infants & children and adults. Among these, the infants & children segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segment is driven by increased global immunization campaigns, greater knowledge of diseases that can be prevented by vaccination, children's susceptibility to MMR, strong government actions in Asia-Pacific, and growing healthcare infrastructure to support early childhood vaccination.
North America is anticipated to hold the largest share of the global measles, mumps, rubella vaccine market over the predicted timeframe.
North America is anticipated to hold the largest share of the global measles, mumps, rubella vaccine market over the predicted timeframe. The regional market growth can be attributed because of government-led vaccination programs, strong public health initiatives, a rise in measles cases, and a renewed emphasis on new outbreaks through extensive healthcare system improvements.
Asia Pacific is expected to grow at the fastest CAGR in the global measles, mumps, rubella vaccine market during the forecast period. The regional market growth is driven by strong government commitment, creative vaccine developments like IIL's "Mabella," regional partnerships between key market players and governments, rising vaccination rates, and initiatives for vaccination which are catered by local healthcare.
Company Profiling
Major vendors in the global measles, mumps, rubella vaccine market are Merck & Co., Inc., GSK, Serum Institute of India Pvt. Ltd., Sanofi, Shanghai Institute of Biological Products, Beijing Institute of Biological Products, Biological E Ltd., Sinovac, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In December 2023, IL launched 'Mabella', a live-attenuated measles and rubella vaccine developed in partnership with Vietnam's Polyvac Institute. This vaccine has demonstrated proven safety and efficacy through rigorous clinical trials. The launch addresses the urgent need for control of deadly measles and rubella, which claim about 100,000 lives of children globally each year.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global measles, mumps, rubella vaccine market based on the below-mentioned segments:
Global Measles, Mumps, Rubella Vaccine Market, By Type
Global Measles, Mumps, Rubella Vaccine Market, By Target Population
- Infants & Children
- Adults
Global Measles, Mumps, Rubella Vaccine Market, Regional
- North America
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa