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2022

Vaccines Market

Vaccines Market Size, Share, Competitive Landscape and Trend Analysis Report by Technology Type (Recombinant & Conjugate Vaccines, Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, and Other Vaccines), Indication (Pneumococcal Disease, Influenza, Human Papilloma Virus, Meningococcal Disease, Rotavirus, Varicella, Measles, Mumps, & Rubella {MMR}, Diphtheria, Pertussis, & Tetanus {DPT}, Polio, Hepatitis, and Other Indications), and End User (Pediatric, Adults, and Travelers): Global Opportunity Analysis and Industry Forecast, 2021-2031

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Author's: Prachi Rakshe| Ajinkya Alhat | Roshan Deshmukh
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Vaccines Market Overview 2031:

The global Vaccines Market size accounted for $38,061.15 Million in 2021, and is expected to reach $72,129.61 Million by 2031, registering a CAGR of 6.6% from 2022 to 2031. Vaccines, also known as immunizations, inject a weakened form of a disease into a person so the body begins producing antibodies or immunity against the disease. Effective immunization has eradicated a number of diseases, such as polio and smallpox, with high death rates. Vaccinations play a crucial role to maintain sustainable health of people across different countries; hence, they are employed in various regional disease-prevention strategies. The demand for vaccinations has increased over the past few years, owing to increase in incidence of both viral and bacterial infectious diseases. Vaccinations are essentially administered to people of different age groups, which strengthen their immune system throughout lifetime and offers protection against different types of infectious diseases. 

Vaccination is the administration of antigenic components that stimulate protective immunity against a specific infectious agent. The demand for vaccines has increased, owing to high incidences of diseases worldwide. For instance, the Saudi Ministry of Health has recommended influenza vaccination to all the pilgrims traveling to Hajj, especially those tourists who are suffering from chronic illnesses. These vaccines are mandatory for all healthcare professionals who working in the Hajj pilgrimage centers of Mecca and Medina. According to WHO, 325 million people, or roughly 4% of the world's population, live with viral hepatitis and the disease causes 1.34 million deaths per year.

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Surge in investment toward development of new vaccines is expected to drive the global vaccines market in the coming years. For instance, in June, 2021, Merck and Sanofi received an approval for six-in-one pediatric combination vaccine in the U.S. In addition, rise in incidence of various infectious diseases and growth in awareness regarding early disease diagnosis & prevention drive the demand for protective vaccines; thereby, boosting the vaccines market growth.

Rise in the demand for vaccines owing to high incidences of diseases worldwide which drive the market growth. The World Health Organization (WHO) estimates the around 325 million people, or nearly 4% of the world population, live with viral hepatitis.

In addition, the advancements in vaccine technology are providing an opportunity to target new diseases support the market growth. There has been a development of a wide array of new vaccination technologies ranging from targeted attenuation techniques of live pathogens to the delivery of biologically engineered protein and peptide antigens as well as viral vector and nucleic-acid based antigens. Most of these technologies have highly promising results. Thus, there has been a significant increase in spending for the development of vaccine technology which propel the market growth.  

Furthermore, the increase in childbirths associated with the high risk of infection due to poor infant immunity, high risk of meningitis, measles, rotavirus, pneumococcal disease, and growth in awareness toward immunization are some of the factors that provide lucrative opportunities for the vaccines across the emerging markets. In addition, Universal Immunization Programs (UIP) is one of the largest public health programs targeting close of 26 million newborns and 29 million pregnant women annually

Several efforts undertaken by organizations, including the UNICEF has increased the vaccine adoption over the years. Pan American Health Organization (PAHO) revolving fund and UNICEF supply division’s influence allows vaccines procurement at lower prices for various countries. Annually, PAHO and UNICEF procures vaccines for nearly 40 states and around 100 countries, respectively; thereby, positively impacting the adoption rate.

Immunization helps in preventing nearly 2-3 million deaths resulting from various diseases, including influenza, tetanus, diphtheria, measles, pertussis, and others. Furthermore, as per the WHO, more than 1.5 million deaths can be prevented, owing to improvement in global vaccination coverage. In 2018, around 116.3 million children under the age of 1 year received three doses of diphtheria-tetanus-pertussis (DTP3) vaccine globally. With increase in administration of vaccines, the vaccines business is expected to expand significantly over the upcoming years.

Limited coverage for vaccination coupled with prohibitive cost related to transportation and storage of vaccines is anticipated to negatively impact the industry expansion to certain extent in the near future. Moreover, stringent government regulations for product approval is expected to prolong the process of new product introduction in the market; thereby, restraining the Vaccines Market growth.

Impact of Covid-19 On Vaccines Market (Pre And Post Analysis)

Coronavirus (COVID-19) was discovered in late December in the Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted from humans to humans. After its discovery in Wuhan, the disease has rapidly spread to other parts of the globe. This virus causes various symptoms in a patient; for instance, common symptoms include fever, dry cough, and fatigue. However, serious symptoms include difficulty in breathing or shortness of breath, chest pain or pressure, and loss of speech or movement. 

Vaccines Market
By Technology
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Recombinant & Conjugate Vaccines segment held a dominant position in 2021.

Furthermore, the virus has high potential of lethality in the geriatric population. On March 11, 2020, the World Health Organization assessed that COVID-19 can be characterized as a pandemic. Thus, social distancing was observed as the most important measure to stop the spread of this disease. Furthermore, to maintain social distancing, various countries across the world adopted nationwide lockdown. Although the COVID-19 pandemic continues to impact the growth of various industries, and the immediate impact of the outbreak varies from industry to industry.

The overall impact of COVID-19 remains negative on the Vaccines Market as the focus of the market shifted from traditional vaccines to COVID-19 vaccines. Along with this, the pandemic has affected the supply chain resulting in lower demand and higher inventory adjustments. Moreover, major vaccine manufacturers have focused majorly on the COVID-19 manufacturing and divested some of their vaccines, as the R&D investments were high for COVID-19 vaccines.

Global Vaccines Market Segmentation

The vaccines market is segmented on the basis of technology type, indication, end user, and region. By technology type, it is categorized into recombinant & conjugate vaccines, live attenuated vaccines, inactivated vaccines, toxoid vaccines, and others. By indication, it is bifurcated into pneumococcal disease; influenza; human papilloma virus; meningococcal disease; rotavirus; varicella; measles, mumps, & rubella; diphtheria, pertussis & tetanus (DTP); polio; hepatitis; and other indications. By end user, it is divided into pediatric, adults, and travelers. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Vaccines Market
By Indication
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Pneumococcal Disease segment held a dominant position in 2021.

Segment Review

Depending on technology type, the recombinant & conjugate vaccines segment was the highest contributor to the market in 2021, and this trend is expected to continue during the forecast period, due to increase in number of regulatory clearance and significant role of recombinant vaccines such as glycoconjugates vaccine in the market. 

By indication, the pneumococcal disease segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to introduction of novel pneumococcal vaccines in the market, initiatives taken by governments such as various immunization programs for pneumonia, and rise in awareness among patients regarding pneumococcal vaccines.

By end user, the pediatric vaccines segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to rise in prevalence of numerous diseases, such as pertussis, influenza, diphtheria, & tetanus, rise in government & non-government funding for the development of novel vaccines, and surge in initiatives for raising awareness.

Vaccines Market
By End Users
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Pediatric vaccines segment held a dominant position in 2021.

Region-wise, North America dominated the vaccine market in 2021, and is expected to be dominant during the forecast period, owing to investments made by the key players for various R&D activities as well as launch of new products in the U.S. In addition, extensive research in pharmaceutical and biotechnology companies is further anticipated to stimulate the growth of the vaccines market in North America. 

However, Asia-Pacific is expected to register highest CAGR from 2022 to 2031, owing to high burden of diseases, increase in affordability, and improvements in healthcare access in developing countries such as India and China.   

Vaccines Market
By Region
2031
North America 
Europe
Asia-Pacific
LAMEA

Asia- Pacific region would exhibit the fastest CAGR of 8.1% during the forecast period.

   

Key Benefits for Stakeholders

  • The study provides an in-depth analysis of the Vaccines Market and the current trends & future estimations to elucidate imminent investment pockets.
  • It presents a quantitative analysis of the market from 2021 to 2031 to enable stakeholders to capitalize on the prevailing market opportunities.
  • Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
  • Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the Vaccines Market.


The key players that operate in the global Vaccines Market include, Serum Institute of India Pvt. Ltd., Pfizer, Johnson & Johnson, AstraZeneca plc, GlaxoSmithKline plc, Sanofi Aventis, Merck & Co., Inc., Emergent BioSolutions Inc., CSL Limited, and Novavax, Inc.

Vaccines Market Report Highlights

Aspects Details
Vaccines Market By Technology Type
By Technology Type
  • Recombinant & Conjugate Vaccines
  • Live Attenuated Vaccines
  • Inactivated Vaccines
  • Toxoid Vaccines
  • Others
Vaccines Market By Indication
By Indication
  • Pneumococcal Disease
  • Influenza
  • Human Papilloma Virus
  • Meningococcal Disease
  • Rotavirus
  • Varicella
  • Measles, Mumps, & Rubella
  • Diphtheria, Pertussis, & Tetanus (DTP)
  • Polio
  • Hepatitis
  • Other Indications
Vaccines Market By End User
By End User
  • Paediatric
  • Adults
  • Travellers
Vaccines Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, India, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players
Key Market Players

Johnson & Johnson, GlaxoSmithKline plc., Emergent Bio Solutions Inc., CSL Limited, Sanofi Aventis, Pfizer, Merck & Co., Inc., Novavax, Inc., AstraZeneca Plc., Serum Institute of India Pvt. Ltd.

Analyst Review

This section provides opinions of the CXOs of key companies operating in the vaccine market. According to the CXOs, the adoption of vaccines is expected to increase due to rise in the prevalence of infectious disease and growth in demand for vaccines. As per the CXOs, vaccines are anticipated to witness high adoption in the near future, owing to growth in number of immunization programs across the globe. In addition, the market exhibits high growth rate, owing to surge in awareness about use of the vaccine. 

By region, North America is expected to remain dominant during the forecast period, due to local presence of large in-house vaccine manufacturers such as GSK, Merck & Co., Inc., and Pfizer.

Moreover, Asia-Pacific registered highest CAGR and is expected to continue this trend throughout the forecast period, owing to improvement in healthcare facilities, rise in disposable income, surge in adoption of vaccination awareness programs, and rapid improvement in economic conditions.
 

Author Name(s) : Prachi Rakshe| Ajinkya Alhat | Roshan Deshmukh
Frequently Asked Questions?

Vaccine is a biological preparation that is administered to produce acquired immunity in patients.

Vaccine is a biological preparation that is administered to produce acquired immunity in patients.

The total market value of Global Vaccines Market is $38,061.15 million in 2021.

The forecast period for Global Vaccines Market is 2022 to 2031.

The market value of Global Vaccines Market in 2031 is $72,129.61 million.

GSK, Merck, Sanofi, Pfizer, and Novavax, Inc. held a high market position owing to the strong geographical foothold in different regions.

GSK, Merck, Sanofi, Pfizer, and Novavax, Inc. held a high market position owing to the strong geographical foothold in different regions.

Pediatric vaccines segment dominates the global market, owing to increase in the prevalence of numerous diseases, such as pertussis, influenza, diphtheria, and tetanus, pertussis, rise in government and non-government funding for the development of novel vaccines and surge in initiatives for raising awareness.

Pediatric vaccines segment dominates the global market, owing to increase in the prevalence of numerous diseases, such as pertussis, influenza, diphtheria, and tetanus, pertussis, rise in government and non-government funding for the development of novel vaccines and surge in initiatives for raising awareness.

The major factor for the growth of global Vaccines Market are growth in increase in prevalence of infectious diseases, surge in immunization programs across the globe, and increase in R&D activities to develop new vaccines.

The major factor for the growth of global Vaccines Market are growth in increase in prevalence of infectious diseases, surge in immunization programs across the globe, and increase in R&D activities to develop new vaccines.

Among region, North America held a dominant share of the Vaccines Market in 2021

The base year is 2021 in Global Vaccine Market.

Vaccinations play a key role in sustaining people's health across different countries; hence, they are used in various national disease-prevention strategies

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Vaccines Market

Global Opportunity Analysis and Industry Forecast, 2021-2031