The rising count of patients who are suffering from autoimmune diseases is likely to stimulate concentration on various immunization programs that further result in propelling revenue generation opportunities in the mumps vaccine market. Further, increasing awareness related to vaccines among global consumers is also estimated to stimulate growth opportunities in the mumps vaccine market.
At the present time, there has been a noteworthy increase in the cases of rubella, mumps, and measles. Furthermore, the increased prevalence of pneumococcal infections is also projected to fuel expansion opportunities in the mumps vaccine market in the coming years. Rising awareness about patient safety and stringent regulations has been estimated to bolster growth impetuses in the market during the forecast period.
Various healthcare providers are taking initiatives to expand their reach across emerging markets that are expected to provide novel opportunities for vaccine manufacturers. Along with this, increasing the use of MMR vaccination around the world in order to prevent COVID-19 infection is also anticipated to work as a revenue generator in the mumps vaccine market in the years to come.
On the flip side, the high cost to develop the vaccine and the availability of the same across rural areas are expected to limit growth avenues in the mumps vaccine market. Further, there has been a lack of information about industry services that are also predicted to restrict mumps vaccine market growth.
Middle East& Africa to Lead in Mumps Vaccine Market
Demographically, the mumps vaccine market has been divided into Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa. Among these regional areas, the Middle East & Africa is projected to dominate in the market owing to the lack of appropriate medical aid in the rural areas where mumps is prevailing at a high rate.
The key players serving in the Mumps Vaccine market are Emergent BioSolutions Inc., Merck & Co. Inc., CSL Limited, MedImmune, Bavarian Nordic, Serum Institute of India Pvt Ltd., and Snofi.