What Has Been the Growth of the Mumps Vaccine MumpsVax Market So Far?
The mumps vaccine mumpsvax market has seen considerable growth due to a variety of factors.
• In recent times, the market size for the mumps vaccine, mumpsvax, has experienced significant growth. The market is projected to expand from $2,057.93 million in 2024 up to $2,210.59 million in 2025, with a compound annual growth rate (CAGR) of 7.4%.
Factors contributing to the growth witnessed in the past period include increased pediatric vaccination rates, the rise of global health initiatives, bolstered public confidence in vaccines, growth in travel awareness, and the multiplication of immunization campaigns.
What Is the Forecasted Market Size and Growth Rate for The Mumps Vaccine MumpsVax Market Size Evolve over the Forecast Period?
The mumps vaccine mumpsvax market is expected to maintain its strong growth trajectory in upcoming years.
• The market for the mumps vaccine (mumpsvax) is forecasted to experience robust growth in the upcoming years, ballooning to $2,902.21 million in 2029 with a compound annual growth rate (CAGR) of 7.0%.
This projected growth throughout the forecast period can be largely attributed to the escalating occurrence of diseases that can be prevented through vaccination, increased awareness about adult vaccination, growing health cognizance, expansion of immunization programs, and a rise in global health initiatives. Key developments expected during this forecast period encompass customized vaccination approaches, incorporation of digital health, improved surveillance infrastructure, research and development in adult vaccination, and the integration of artificial intelligence in this space.
What Are The Leading Drivers Of Growth In The Mumps Vaccine MumpsVax Market?
The escalating rate of infectious diseases is projected to fuel the expansion of the mumpsvax market. Infectious diseases, caused by harmful organisms such as bacteria, viruses, fungi, or parasites, can spread from one person to another or through tainted environments. The growth in infectious diseases can be attributed to factors like urbanization, climate change, globalization, and changes in human demographics and behavior that escalate the emergence and transmission of pathogens. Mumpsvax, a vaccine for mumps, is often included in the MMR (measles, mumps, rubella) vaccination and used to prevent mumps infection. For example, a report by the UK Health Security Agency in August 2024 showed that in 2023, the West Midlands region reported the highest number of measles cases at 160 cases (44%), followed by London with 122 cases (33%). It's worth noting that 63% of the total cases, or 232 cases, were children under 10. Towards the end of the year, measles activity significantly increased, with 157 new cases in December compared to 45 in November. All these factors are leading to the growth of the mumpsvax market. The surge in healthcare spending is projected to stimulate the mumpsvax market. Healthcare expenditure encompasses the total amount spent on healthcare goods and services such as personal health care, preventive services, and public health activities to enhance health outcomes. The increase in healthcare spending is due to factors such as aging population, chronic diseases, high drug prices, inefficient payment models, advanced medical technology, and a higher demand for services. The increased spending may improve access to mumpsvax by providing more funding for vaccination programs, leading to better public health through higher mumps immunization rates. For example, a report by the Office For National Statistics in May 2024 showed that total healthcare spending increased by 5.6% in nominal terms from 2022 to 2023, compared to a growth rate of 0.9% in 2022. Moreover, the total long-term health and social care expenditure grew by 2.8% in real terms in 2022.
What Are The Main Segments Of The Global Mumps Vaccine MumpsVax Market?
The mumps vaccine (mumpsvax) market covered in this report is segmented –
1) By Product Type: Monovalent, Combinational, Divalent, Trivalent, Other Product Types
2) By Age Group: Pediatric, Adult
3) By Distribution Channels: Hospital pharmacies, Drug Stores, Retail Pharmacies
4) By End-User: Pediatric Clinic, Hospitals, Non-Governmental Organization (NGOs), Other End-Users
Pre-Book The Mumps Vaccine MumpsVax Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Who Are the Key Players In The Mumps Vaccine MumpsVax Market?
Major companies operating in the mumps vaccine (mumpsvax) market include:
• Merck & Co. Inc.
• GlaxoSmithKline plc
What Is The Most Dominant Region In The Mumps Vaccine MumpsVax Market?
North America was the largest region in the mumps vaccine (mumpsvax) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mumps vaccine (mumpsvax) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
