The Canada Vaccines market size was valued at USD XX billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of xx% from 2019 to 2028.
In Canada, vaccinations have been responsible for an 87% decrease in whooping cough and a 99% decrease in measles, mumps, rubella, and diphtheria. In 2017, around 90% of children in Canada receives one dose of the measles-mumps-rubella vaccination by their second birthday. Rates of influenza immunization among Canadians have fluctuated over the years, with 31.5 percent of Canadians receiving this vaccination in 2018. In 2019, 10,208,700 Canadians have received the influenza immunization vaccine. Due to the COVID-19 pandemic, the majority of healthcare, pharmaceutical, and biotechnology organizations have concentrated on diagnostics kits, safety wearables, and treatment vaccines and medication all these factors are anticipated to impact the Canadian vaccines market as well in the future.
Because of the large number of deadly diseases that have been virtually eliminated through the proliferation of effective vaccines, vaccination is generally viewed as one of the greatest public health achievements during the 20th century. As a result of widespread public vaccination, vaccine-preventable diseases and their resulting deaths are now rare in the nation. An increase in investment toward the development of new vaccines is expected to drive the Canadian vaccine market in the coming years. The growth of this market is majorly attributed to the high prevalence of infectious diseases, increasing company initiatives to enhance vaccine R&D, growing government support for vaccine development, and the rising focus on immunization.