The mRNA vaccine market offers promising solutions for combating infectious diseases and cancers. Ongoing research and innovations are critical to enhance mRNA vaccination technologies for disease prevention and public health.
Despite the success of COVID-19 mRNA vaccines, obstacles remain, notably in terms of general availability, manufacturing efficiency, and safety. Accessibility continues to be a major challenge, particularly in nations with limited resources and infrastructure. Cold storage requirements worsen the problem, preventing delivery and administration in remote places.
However, developments in cold storage technology provide hope to circumvent these problems, with thermostable mRNA vaccine candidates producing promising results in preclinical experiments. Solving production and safety issues, such as adverse reactions and vaccination durability, is crucial to preserving public trust and confidence in mRNA vaccines.
The mRNA vaccine market is experiencing steady growth due to its capability in tackling communicable & chronic diseases, and cancer. Despite numerous challenges in combating immunological diseases and rare disease conditions, mRNA vaccines have exhibited remarkable efficacy against newly emerging viruses such as Coronavirus.
The low cost of production and ease in manufacturing makes them a vital asset against future pandemics. Yet, developing broad-spectrum vaccines remains challenging since novel viruses change quickly.
Personalized mRNA vaccines for use in cancer therapy provide interesting possibilities, but technological obstacles persist in effectively detecting tumor neoantigens. mRNA vaccination can be used with immunotherapies such as PD-1/PD-L1 suppression to improve the effectiveness of cancer therapy.
Current clinical trials are investigating how mRNA vaccines might be combined with other drugs. These studies point to a potential future for mRNA vaccines in customized cancer treatment. As research advances, the mRNA vaccine market size is expected to grow, providing novel therapies for viral illnesses and tailored cancer therapy.
| Attribute | Detail |
|---|---|
| Drivers |
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The U.S. government's considerable expenditure on mRNA COVID-19 vaccine development and research, which is worth no less than US$ 31.9 billion, is an important driver of mRNA vaccine market growth.
Pre-pandemic expenditures on mRNA vaccine technology assisted in speedy vaccine development amid the pandemic. Throughout the epidemic, public monies backed scientific research, manufacturing scale-up, and vaccine procurement, resulting in the saving of millions of lives.
To optimize benefits, authorities should emphasize fair worldwide access to mRNA vaccines created with public monies, thereby improving healthcare equality and resilience. Overall, the large public investment demonstrates a commitment to innovation, public health, and future health issues, offering lucrative mRNA vaccine market opportunities.
The introduction of mRNA vaccines against cancer addressing Tumor-Associated Antigens (TAAs) is an achievable goal for vaccine development, especially in tumors with high TAA transcript levels, such as lung cancer and melanoma. The COVID-19 pandemic has accelerated the manufacture and efficacy of mRNA vaccine technology, as proven by the Pfizer-BioNTech and Moderna COVID-19 vaccines.
Advanced mRNA-based systems with lipid nanoparticles and liposomes improve vaccination effectiveness and scalability. Furthermore, customized cancer vaccines, which are targeted to specific tumor genetic characteristics, represent a substantial leap in cancer immunotherapy, thus augmenting mRNA vaccine market value.
The confluence of these advances in mRNA vaccine technology, established efficacy in COVID-19 vaccine advancement. The possibility for individualized cancer vaccines is driving expansion in the global industry.
These advancements highlight the transformational potential of mRNA vaccines in tackling healthcare concerns, from infectious illnesses to cancer, encouraging continuous research and expansion in the area.
The efficacy of mRNA vaccines has triggered a paradigm change in the realm of medicines, going beyond standard immunization methods. This development has shown mRNA technology's promise for a wide range of uses in medicine, namely protein replacement treatment, cancer immunotherapy, and vaccines against infectious illnesses.
The flexibility of mRNA in encoding particular proteins within cells provides a viable path for fighting illnesses such as cancer, thus changing biotherapeutic techniques.
The extraordinary safety and performance of mRNA vaccines has inspired trust in the world of science, resulting in expanded research efforts and significant investment in mRNA-based therapeutics.
This move into therapeutic uses not only marks a watershed moment in the mRNA vaccine business, but it also represents a tremendous potential for tackling gaps in medicine across several disease domains.
As innovation intersects with medical necessity, the landscape of biotherapeutics is undergoing transformative change, fueled by the dynamic evolution of mRNA therapeutics. This momentum heralds a new era of personalized and targeted treatments, poised to redefine the standard of care in medicine, and significantly bolstering the mRNA vaccine market growth.
In terms of application, the mRNA vaccine market segmentation includes COVID-19, and others. COVID-19 mRNA vaccines were the most popular among consumers globally in 2022. COVID-19 mRNA vaccines dominated the global market demand in 2022, illustrating the epidemic's tremendous impact on the biopharmaceutical industry.
This segment's significance reflected the crucial need for effective vaccines to combat the epidemic, which generated unprecedented levels of research, development, and manufacture.
Regulatory clearances, distribution tactics, immunization efforts, and public perception fostered the expansion of the sector, capitalizing on opportunities in the fast changing environment of infectious disease prevention and control.
As per the the mRNA vaccine market analysis, based on end-user, the government entities segment is allocating considerable funds to procure and distribute mRNA vaccines to the people. Governments throughout the world are increasingly realizing vaccination's critical role in preventing the spread of infectious diseases, particularly in the aftermath of the COVID-19 outbreak.
Government organizations frequently play a key role in sponsoring scientific and technological projects, promoting cooperation among public health agencies, research institutions, and vaccine makers.
Furthermore, regulatory bodies within government institutions determine the safety and efficacy of mRNA vaccines, providing licenses, and overseeing their distribution and administration.
The predicted growth of the government entities segment is a response to public health goals and state-led efforts aimed at resolving present and future healthcare challenges through immunization programs and initiatives, which is driving market progress.
| Attribute | Detail |
|---|---|
| Leading Region | North America |
Several factors contribute to the significant mRNA vaccine market share of North America. Sophisticated health care systems, a robust scientific and research ecosystem, solid regulatory framework, and good public-private partnerships are driving market dynamics in the region.
The U.S. has a widely recognized vaccine delivery network, which allows for efficient and extensive dissemination of mRNA vaccines. The presence of qualified researchers, scientists, and physicians has aided in the comprehension of mRNA vaccine technology with its prospective uses.
The US Food and Drug Administration (FDA) has hastened the licensing process for mRNA vaccines by utilizing its Emergency Use Authorization (EUA) mechanism, ensuring timely deployment.
Leading players in the global mRNA vaccine market are adopting strategies such as development of products and collaborative partnerships. The mRNA vaccine industry is highly competitive and has a strong presence of key players.
Pfizer, Inc., Moderna Inc., Novartis AG, Sanofi, Arcturus, Gennova Biopharmaceuticals Ltd, and Aimei Vaccine Co., Ltd, are the prominent mRNA vaccine market manufacturers profiled in the report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
| Attribute | Detail |
|---|---|
| Market Value in 2023 | US$ 21.7 Bn |
| Forecast (Value) in 2034 | US$ 9.6 Bn |
| Growth Rate (CAGR) | -4.3% |
| Forecast Period | 2024-2034 |
| Historical Data Available for | 2020-2022 |
| Quantitative Units | US$ Mn for Value |
| Market Analysis | It provides segment analysis as well as regional level analysis. Furthermore, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis. |
| Competition Landscape |
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| Format | Electronic (PDF) + Excel |
| Market Segmentation |
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| Regions Covered |
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| Countries Covered |
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| Companies Profiled |
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| Customization Scope | Available upon request |
| Pricing | Available upon request |
It was valued at US$ 21.7 Bn in 2023
It is projected to reach more than US$ 9.6 Bn by the end of 2034
The CAGR is anticipated to be -4.3% from 2023 to 2034
Ongoing research, increased focus on cancer treatment, and mRNA expansion into therapeutic applications
The covid-19 application segment accounted for major share in 2023
North America is expected to account for major share during the forecast period
Pfizer, Inc., Moderna Inc., Novartis AG, Sanofi, Arcturus, Gennova Biopharmaceuticals Ltd, and Aimei Vaccine Co., Ltd
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary : Global mRNA Vaccine Market
4. Market Overview
4.1. Introduction
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global mRNA Vaccine Market Analysis and Forecasts, 2020-2034
4.5. Porter’s Five Force Analysis
5. Key Insights
5.1. Technological Advancements
5.2. mRNA Vaccines Pipeline
5.3. Regulatory Scenario by Region/Globally
5.4. COVID-19 Pandemic Impact Analysis on Industry
6. Global mRNA Vaccine Market Analysis and Forecasts, By Application
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast By Application, 2020-2034
6.3.1. COVID-19
6.3.2. Others
6.4. Market Attractiveness By Application
7. Global mRNA Vaccine Market Analysis and Forecasts, By End-user
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Market Value Forecast By End-user, 2020-2034
7.3.1. Government Entities
7.3.2. Private Hospitals & Clinics
7.3.3. Others
7.4. Market Attractiveness By End-user
8. Global mRNA Vaccine Market Analysis and Forecasts, By Region
8.1. Key Findings
8.2. Market Value Forecast By Region
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Latin America
8.2.5. Middle East & Africa
8.3. Market Attractiveness By Country/Region
9. North America mRNA Vaccine Market Analysis and Forecast
9.1. Introduction
9.1.1. Key Findings
9.2. Market Value Forecast By Application, 2020-2034
9.2.1. COVID-19
9.2.2. Others
9.3. Market Value Forecast By End-user, 2020-2034
9.3.1. Government Entities
9.3.2. Private Hospitals & Clinics
9.3.3. Others
9.4. Market Value Forecast By Country, 2020-2034
9.4.1. U.S.
9.4.2. Canada
9.5. Market Attractiveness Analysis
9.5.1. By Application
9.5.2. By End-user
9.5.3. By Country
10. Europe mRNA Vaccine Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. Market Value Forecast By Application, 2020-2034
10.2.1. COVID-19
10.2.2. Others
10.3. Market Value Forecast By End-user, 2020-2034
10.3.1. Government Entities
10.3.2. Private Hospitals & Clinics
10.3.3. Others
10.4. Market Value Forecast By Country, 2020-2034
10.4.1. Germany
10.4.2. U.K.
10.4.3. France
10.4.4. Spain
10.4.5. Italy
10.4.6. Rest of Europe
10.5. Market Attractiveness Analysis
10.5.1. By Application
10.5.2. By End-user
10.5.3. By Country
11. Asia Pacific mRNA Vaccine Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Market Value Forecast By Application, 2020-2034
11.2.1. COVID-19
11.2.2. Others
11.3. Market Value Forecast By End-user, 2020-2034
11.3.1. Government Entities
11.3.2. Private Hospitals & Clinics
11.3.3. Others
11.4. Market Value Forecast By Country, 2020-2034
11.4.1. China
11.4.2. Japan
11.4.3. India
11.4.4. Australia & New Zealand
11.4.5. Rest of Asia Pacific
11.5. Market Attractiveness Analysis
11.5.1. By Application
11.5.2. By End-user
11.5.3. By Country
12. Latin America mRNA Vaccine Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Market Value Forecast By Application, 2020-2034
12.2.1. COVID-19
12.2.2. Others
12.3. Market Value Forecast By End-user, 2020-2034
12.3.1. Government Entities
12.3.2. Private Hospitals & Clinics
12.3.3. Others
12.4. Market Value Forecast By Country, 2020-2034
12.4.1. Brazil
12.4.2. Mexico
12.4.3. Rest of Latin America
12.5. Market Attractiveness Analysis
12.5.1. By Application
12.5.2. By End-user
12.5.3. By Country
13. Middle East & Africa mRNA Vaccine Market Analysis and Forecast
13.1. Introduction
13.1.1. Key Findings
13.2. Market Value Forecast By Application, 2020-2034
13.2.1. COVID-19
13.2.2. Others
13.3. Market Value Forecast By End-user, 2020-2034
13.3.1. Government Entities
13.3.2. Private Hospitals & Clinics
13.3.3. Others
13.4. Market Value Forecast By Country, 2020-2034
13.4.1. GCC Countries
13.4.2. South Africa
13.4.3. Rest of Middle East & Africa
13.5. Market Attractiveness Analysis
13.5.1. By Application
13.5.2. By End-user
13.5.3. By Country
14. Competition Landscape
14.1. Market Player - Competition Matrix (By Tier and Size of companies)
14.2. Market Share Analysis By Company (2022)
14.3. Company Profiles
14.3.1. Pfizer, Inc.
14.3.1.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.1.2. Product Portfolio
14.3.1.3. Financial Overview
14.3.1.4. SWOT Analysis
14.3.1.5. Strategic Overview
14.3.2. Moderna Inc.
14.3.2.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.2.2. Product Portfolio
14.3.2.3. Financial Overview
14.3.2.4. SWOT Analysis
14.3.2.5. Strategic Overview
14.3.3. Novartis AG
14.3.3.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.3.2. Product Portfolio
14.3.3.3. Financial Overview
14.3.3.4. SWOT Analysis
14.3.3.5. Strategic Overview
14.3.4. Sanofi
14.3.4.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.4.2. Product Portfolio
14.3.4.3. Financial Overview
14.3.4.4. SWOT Analysis
14.3.4.5. Strategic Overview
14.3.5. Arcturus Therapeutics
14.3.5.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.5.2. Product Portfolio
14.3.5.3. Financial Overview
14.3.5.4. SWOT Analysis
14.3.5.5. Strategic Overview
14.3.6. Gennova Biopharmaceuticals Ltd
14.3.6.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.6.2. Product Portfolio
14.3.6.3. Financial Overview
14.3.6.4. SWOT Analysis
14.3.6.5. Strategic Overview
14.3.7. Aimei Vaccine Co., Ltd
14.3.7.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.7.2. Product Portfolio
14.3.7.3. Financial Overview
14.3.7.4. SWOT Analysis
14.3.7.5. Strategic Overview
List of Tables
Table 01: Global mRNA Vaccine Market Value (US$ Mn) Forecast, by Application, 2020-2034
Table 02: Global mRNA Vaccine Market Value (US$ Mn) Forecast, by End-User, 2020-2034
Table 03: Global mRNA Vaccine Market Value (US$ Mn) Forecast, by Region, 2020-2034
Table 04: North America mRNA Vaccine Market Value (US$ Mn) Forecast, by Country, 2020-2034
Table 05: North America mRNA Vaccine Market Value (US$ Mn) Forecast, by Application, 2020-2034
Table 06: North America mRNA Vaccine Market Value (US$ Mn) Forecast, by End-User, 2020-2034
Table 07: Europe mRNA Vaccine Market Value (US$ Mn) Forecast, by Country/Sub-region, 2020-2034
Table 08: Europe mRNA Vaccine Market Value (US$ Mn) Forecast, by Application, 2020-2034
Table 09: Europe mRNA Vaccine Market Value (US$ Mn) Forecast, by End-User, 2020-2034
Table 10: Asia Pacific mRNA Vaccine Market Value (US$ Mn) Forecast, by Country/Sub-region, 2020-2034
Table 11: Asia Pacific mRNA Vaccine Market Value (US$ Mn) Forecast, by Application, 2020-2034
Table 12: Asia Pacific mRNA Vaccine Market Value (US$ Mn) Forecast, by End-User, 2020-2034
Table 13: Latin America mRNA Vaccine Market Value (US$ Mn) Forecast, by Country/Sub-region, 2020-2034
Table 14: Latin America mRNA Vaccine Market Value (US$ Mn) Forecast, by Application, 2020-2034
Table 15: Latin America mRNA Vaccine Market Value (US$ Mn) Forecast, by End-User, 2020-2034
Table 16: Middle East & Africa mRNA Vaccine Market Value (US$ Mn) Forecast, by Country/Sub-region, 2020-2034
Table 17: Middle East & Africa mRNA Vaccine Market Value (US$ Mn) Forecast, by Application, 2020-2034
Table 18: Middle East & Africa mRNA Vaccine Market Value (US$ Mn) Forecast, by End-User, 2020-2034
List of Figures
Figure 01: Global mRNA Vaccine Market Value (US$ Mn) Forecast, 2020-2034
Figure 02: Global mRNA Vaccine Market Value Share, By Application, 2023
Figure 03: Global mRNA Vaccine Market Value Share, by End-User, 2023
Figure 04: Global mRNA Vaccine Market Value Share, by Region, 2023
Figure 05: Global mRNA Vaccine Market Value (US$ Mn) Share Analysis, by Application, 2023 and 2034
Figure 06: Global mRNA Vaccine Market Share Analysis, by Application, 2023
Figure 07: Global mRNA Vaccine Market Share Analysis, by Application, 2034
Figure 08: Global mRNA Vaccine Market Attractiveness Analysis, by Application, 2024-2034
Figure 09: Global mRNA Vaccine Market Value (US$ Mn), by COVID-19, 2020-2034
Figure 10: Global mRNA Vaccine Market Value Share Analysis, by COVID-19, 2023 and 2034
Figure 11: Global mRNA Vaccine Market Value (US$ Mn), by Others, 2020-2034
Figure 12: Global mRNA Vaccine Market Value Share Analysis, by Others, 2023 and 2034
Figure 13: Global mRNA Vaccine Market Value (US$ Mn) Share Analysis, by End-User, 2023 and 2034
Figure 14: Global mRNA Vaccine Market Share Analysis, by End-User, 2023
Figure 15: Global mRNA Vaccine Market Share Analysis, by End-User, 2034
Figure 16: Global mRNA Vaccine Market Attractiveness Analysis, by End-User, 2024-2034
Figure 17: Global mRNA Vaccine Market Value (US$ Mn), by Government Entities, 2020-2034
Figure 18: Global mRNA Vaccine Market Value Share Analysis, by Government Entities, 2023 and 2034
Figure 19: Global mRNA Vaccine Market Value (US$ Mn), by Private Hospitals & Clinics, 2020-2034
Figure 20: Global mRNA Vaccine Market Value Share Analysis, by Private Hospitals & Clinics, 2023 and 2034
Figure 21: Global mRNA Vaccine Market Value (US$ Mn), by Others, 2020-2034
Figure 22: Global mRNA Vaccine Market Value Share Analysis, by Other, 2023 and 2034
Figure 23: Global mRNA Vaccine Market Value Share Analysis, by Region, 2023 and 2034
Figure 24: Global mRNA Vaccine Market Share Analysis, by Region, 2023
Figure 25: Global mRNA Vaccine Market Share Analysis, by Region, 2034
Figure 26: Global mRNA Vaccine Market Attractiveness Analysis, by Region, 2024-2034
Figure 27: North America mRNA Vaccine Market Value (US$ Mn) Forecast and Y-o-Y Growth (%) Projection, 2020-2034
Figure 28: North America mRNA Vaccine Market Value Share Analysis, by Country, 2023 and 2034
Figure 29: North America mRNA Vaccine Market Attractiveness Analysis, by Country, 2024-2034
Figure 30: North America mRNA Vaccine Market Value (US$ Mn) Share Analysis, by Application, 2023 and 2034
Figure 31: North America mRNA Vaccine Market Attractiveness Analysis, by Application, 2024-2034
Figure 32: North America mRNA Vaccine Market Value (US$ Mn) Share Analysis, By End-User, 2023 and 2034
Figure 33: North America mRNA Vaccine Market Attractiveness Analysis, By End-User, 2024-2034
Figure 34: Europe mRNA Vaccine Market Value (US$ Mn) Forecast and Y-o-Y Growth (%) Projection, 2020-2034
Figure 35: Europe mRNA Vaccine Market Value Share Analysis, by Country/Sub-region, 2023 and 2034
Figure 36: Europe mRNA Vaccine Market Attractiveness Analysis, by Country/Sub-region, 2024-2034
Figure 37: Europe mRNA Vaccine Market Value (US$ Mn) Share Analysis, by Application, 2023 and 2034
Figure 38: Europe mRNA Vaccine Market Attractiveness Analysis, by Application, 2024-2034
Figure 39: Europe mRNA Vaccine Market Value (US$ Mn) Share Analysis, By End-User, 2023 and 2034
Figure 40: Europe mRNA Vaccine Market Attractiveness Analysis, By End-User, 2024-2034
Figure 41: Asia Pacific mRNA Vaccine Market Value (US$ Mn) Forecast and Y-o-Y Growth (%) Projection, 2020-2034
Figure 42: Asia Pacific mRNA Vaccine Market Value Share Analysis, by Country/Sub-region, 2023 and 2034
Figure 43: Asia Pacific mRNA Vaccine Market Attractiveness Analysis, by Country/Sub-region, 2024-2034
Figure 44: Asia Pacific mRNA Vaccine Market Value (US$ Mn) Share Analysis, by Application, 2023 and 2034
Figure 45: Asia Pacific mRNA Vaccine Market Attractiveness Analysis, by Application, 2024-2034
Figure 46: Asia Pacific mRNA Vaccine Market Value (US$ Mn) Share Analysis, By End-User, 2023 and 2034
Figure 47: Asia Pacific mRNA Vaccine Market Attractiveness Analysis, By End-User, 2024-2034
Figure 48: Latin America mRNA Vaccine Market Value (US$ Mn) Forecast and Y-o-Y Growth (%) Projection, 2020-2034
Figure 49: Latin America mRNA Vaccine Market Value Share Analysis, by Country/Sub-region, 2023 and 2034
Figure 50: Latin America mRNA Vaccine Market Attractiveness Analysis, by Country/Sub-region, 2024-2034
Figure 51: Latin America mRNA Vaccine Market Value (US$ Mn) Share Analysis, by Application, 2023 and 2034
Figure 52: Latin America mRNA Vaccine Market Attractiveness Analysis, by Application, 2024-2034
Figure 53: Latin America mRNA Vaccine Market Value (US$ Mn) Share Analysis, By End-User, 2023 and 2034
Figure 54: Latin America mRNA Vaccine Market Attractiveness Analysis, By End-User, 2024-2034
Figure 55: Middle East & Africa mRNA Vaccine Market Value (US$ Mn) Forecast and Y-o-Y Growth (%) Projection, 2020-2034
Figure 56: Middle East & Africa mRNA Vaccine Market Value Share Analysis, by Country/Sub-region, 2023 and 2034
Figure 57: Middle East & Africa mRNA Vaccine Market Attractiveness Analysis, by Country/Sub-region, 2024-2034
Figure 58: Middle East & Africa mRNA Vaccine Market Value (US$ Mn) Share Analysis, by Application, 2023 and 2034
Figure 59: Middle East & Africa mRNA Vaccine Market Attractiveness Analysis, by Application, 2024-2034
Figure 60: Middle East & Africa mRNA Vaccine Market Value (US$ Mn) Share Analysis, By End-User, 2023 and 2034
Figure 61: Middle East & Africa mRNA Vaccine Market Attractiveness Analysis, By End-User, 2024-2034
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mRNA Vaccine Market
*86 figures and 60 tables includes