Vaccines Market Overview:
Global Vaccines Market was valued at $31,216 million in 2016, and is expected to reach $65,148 million in 2023, registering a CAGR of 10.9% from 2017 to 2023. Vaccine is a biological preparation that is administered to produce acquired immunity in patients. Administration of vaccines aids in enhancing the immune response against a specific pathogen. Vaccinations play a crucial role in maintaining 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 last few years, owing to the increase in incidence of both viral and bacterial infectious diseases. Vaccinations are essentially administered to people of different age groups, which strengthens their immune system throughout lifetime and offers protection against different types of infectious diseases.
The global vaccines market is driven by the rise in prevalence of infectious diseases, as vaccines are considered to be the best way to prevent such diseases. In addition, emerging vaccines (Zika vaccines, dengue vaccines, cancer vaccines, and others), production of technologically advanced vaccines, advancements in vaccine delivery devices, and increase in immunization programs supplement the market growth. However, longer timelines required to produce vaccines and high monetary inputs associated with the same restrict the market growth. Furthermore, high growth of vaccine production in emerging markets is expected to offer lucrative opportunities in the near future.
Global Vaccines Market Segmentation
The vaccines market is segmented based on technology, indication, end use, and region. Based on technology, it is classified into conjugate vaccines, inactivated vaccines, live attenuated vaccines, toxoid vaccines, recombinant vaccines, and other vaccines. Based on indication, it is divided into influenza; pneumococcal disease; meningococcal disease; human papilloma virus; rotavirus; varicella; diphtheria, pertussis, and tetanus (DTP), polio; hepatitis; measles, mumps, and rubella (MMR); and other indications. Based on end use, it is divided into pediatric vaccines, adult vaccines, and traveler vaccines.
Global Vaccines Market By End Use
Adult vaccines possess high market potential for growth of vaccines, owing to increase in incidence of human papilloma virus infections in adults. However, the pediatric vaccines segment dominates the market, owing to the high demand for vaccines in infants, such as BCG vaccines, MMR vaccines, and DPT vaccines. In addition, traveler vaccines offer significant opportunities for expansion of vaccines market.
Drivers, Restraints, and Opportunities
The impact of the driving factors is expected to surpass that of the restraints. Moreover, emergence of new markets and increase in adoption of combination vaccines in prevention strategies by government provide new growth opportunities in the near future.
Drivers, Restraints, and Opportunities
The report provides a comprehensive analysis of the key players operating in the global vaccines market, such as Astellas Pharma Inc., Astrazeneca Plc. (Medimmune, LLC.), CSL Limited, Emergent Biosolutions, Inc., Glaxosmithkline Plc., Johnson & Johnson, Merck & Co., Inc., Pfizer Inc., Sanofi Pasteur, and Serum Institute of India Pvt. Ltd.
The other key players in the value chain include Gritstone Oncology, PaxVax Corporation., Bavarian Nordic, Bharat Biotech., VBI Vaccines Inc., Novavax, Inc., Dynavax Technologies Corporation, Immunomic Therapeutics, Inc., Gamma Vaccines Pty Limited, Sinovac Biotech Ltd., Prokarium, and ImmunoBiology Ltd.
Key Market Benefits
- The study provides an in-depth analysis, current trends, and future estimations of the global vaccines market to elucidate the imminent investment pockets.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- A quantitative analysis of the industry from 2016 to 2023 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of key segments of the industry is provided to understand the type of products and indications used globally.
- Key market players and their strategies are analyzed to understand the competitive outlook of the market.
Vaccines Market Key Segments:
- Conjugate Vaccines
- Inactivated Vaccines
- Live Attenuated Vaccines
- Toxoid Vaccines
- Recombinant Vaccines
- Other Vaccines
- Pneumococcal Disease
- Human Papilloma Virus
- Meningococcal Disease
- Diphtheria, Pertussis, and Tetanus (DPT)
- Measles, Mumps, and Rubella (MMR)
- Other Indications
By End Use
- Pediatric Vaccines
- Adult Vaccines
- Traveler Vaccines
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA