Vaccines market

Vaccines Market, by Technology (Conjugate Vaccines, Inactivated and Subunit Vaccines, Live Attenuated Vaccines, Toxoid Therapy, and Recombinant Therapy), by Type (Monovalent Vaccines and Multivalent Vaccines), by Indication (Typhoid, Hepatitis, Pneumococcal, DTP, Malaria, Influenza, Human Papilloma Virus, Meningococcal, Polio, Rotavirus, MMR, Varicella, Herpes Zoster, and Others), by Route of Administration (Parenteral Administration and Oral Administration), by Age Group (Pediatric and Adult), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

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Feb 2022
CMI4914
165 Pages
Excel & Pdf
Biotechnology

Summary

Vaccines help to strengthen the immune system and protect it from dangerous, life-threatening diseases such as hepatitis, polio, tuberculosis, and others. Vaccines help the body to fight against pathogens like viruses and bacteria. Vaccines expose the body to a very small, but safe amount of weakened or dead viruses or bacteria. If the body is exposed to the infection later in life, immune system can recognize it and attack it. This is a natural method of combating infectious diseases like polio, measles, pneumonia, and others.

The global vaccines market is estimated to be valued at US$ 38,305.2 million in 2021 and is expected to exhibit a CAGR of 6.8% during the forecast period (2021-2028).

Figure 1. Global Vaccines Market Share (%) in Terms of Value, by Route of Administration, 2021

Increasing prevalence of infectious diseases is expected to drive the market growth during the forecast period.

The increasing prevalence of various infectious diseases is expected to drive the market growth during the forecast period. For instance, according to the data provided by the World Health Organization, in October 2021, an estimated 10 million people were ill with tuberculosis (TB) worldwide, of which there were 5.6 million men, 3.3 million women and 1.1 million children in 2020. According to the same source, 86% of new TB cases occurred in the 30 high TB burden countries such as India, China, Indonesia, and others in 2020.

Vaccines Market Report Coverage

Report Coverage	Details
Base Year:	2020	Market Size in 2021:	US$ 38,305.2 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2021 to 2028
Forecast Period 2021 to 2028 CAGR:	6.8%	2028 Value Projection:	US$ 60,673.6 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Technology: Conjugate Vaccines, Inactivated and Subunit Vaccines, Live Attenuated Vaccines, Toxoid Therapy, Recombinant Therapy By Type: Monovalent Vaccines, Multivalent Vaccines By Indication: Typhoid, Hepatitis, Pneumococcal, DTP, Malaria, Influenza, Human Papilloma Virus, Meningococcal, Polio, Rotavirus, MMR, Varicella, Herpes Zoster, Others By Route of Administration: Parenteral Administration, Oral Administration By Age Group: Pediatric, Adult
Companies covered:	AstraZeneca, GlaxoSmithKline plc., Pfizer Inc., Abbott, Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Sanofi, EMERGENT, Astellas Pharma Inc., CSL Limited, Novavax, Serum Institute of India Pvt. Ltd., Bharat Biotech., Indian Immunologicals Ltd., DAIICHI SANKYO COMPANY, LIMITED., and Merck & Co., Inc.
Growth Drivers:	High prevalence of infectious diseases Increasing product approvals Increasing research and development activities Increasing government support and funding
Restraints & Challenges:	High cost involved in the vaccine development process Stringent government regulations for product approval

Figure 2. Global Vaccines Market Share (%), by Age Group, 2021

Increasing product approvals by the regulatory bodies is expected to drive market growth during the forecast period.

The increasing vaccine approvals by the regulatory bodies is expected to drive growth of the global vaccines market over the forecast period. For instance, on January 19, 2022, Covid vaccines Covaxin and Covishield, after a year of being granted emergency use authorization, were given approval for full and regular market authorization by the Subject Expert Committee (SEC) of the Central Drugs Standard Control Organization (CDSCO).

Global Vaccines Market – Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdown in various countries across the globe have negatively impacted the financial status of businesses across all sectors. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions.

The COVID-19 pandemic hampered immunization programs in countries due to lockdowns and other measures with an aim to reduce the spread of the virus. There was a collapse in the airline industry, which impacted the shipments of vaccines significantly, thereby having a negative impact on the global vaccines market. According to an article published by UNICEF in June 2020, as a consequence of the supply disruptions, countries across East and Southern Africa (ESARO), West and Central Africa (WCARO), East Asia (EAPRO), and South Asia (ROSA) indicated vaccine stocks reaching critical levels, for measles, diphtheria, tetanus, pertussis, hepatitis B, haemophilus influenzae type b, human papillomavirus (HPV), poliomyelitis, rotavirus, and pneumococcal conjugate vaccine (PCV). According to the same source, in early May 2020, about 99 countries reported the suspension of immunization campaigns for antigens such as measles, rubella, polio, meningococcal A, yellow fever, typhoid, cholera, and tetanus/diphtheria.

However, due to increased financial support from various government and non-government organizations, research activities for COVID-19 infection and the development of COVID-19 vaccines have significantly increased, which is expected to drive the global vaccines market growth over the forecast period.

Global Vaccines Market: Restraint

The major factor that is expected to hinder growth of the global vaccines market include high cost involved in the vaccine development process and stringent government regulations for product approval. For instance, according to an article published by HEALTH AFFAIRS, in May 2021, around US$ 19.3 billion were spent on COVID-19 vaccine development by Biomedical Research and Development Authority (BARDA), a U.S. Department of Health and Human Services office alone.

Key Players

Major players operating in the global vaccines market include AstraZeneca, GlaxoSmithKline plc., Pfizer Inc., Abbott, Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Sanofi, EMERGENT, Astellas Pharma Inc., CSL Limited, Novavax, Serum Institute of India Pvt. Ltd., Bharat Biotech., Indian Immunologicals Ltd., DAIICHI SANKYO COMPANY, LIMITED., and Merck & Co., Inc.

Table of Content

*Browse 22 market data tables and 36 figures on "Global Vaccines Market” - forecast to 2028

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What is the current market size and compound annual growth rate (CAGR) of the global vaccines market during the forecast period (2021-2028)?

The global vaccines market size accounted to be valued at US$ 38,305.2 million in 2021 and is expected to exhibit a CAGR of 6.8% between the forecast period (2021 and 2028)

What are the major factors driving the market growth?

Factors such as high prevalence of infectious diseases, increasing product approvals, increasing research and development activities, and increasing government support and funding are expected to drive the growth of the market during the forecast period.

Which is the leading technology segment in the market?

Conjugate vaccines is the leading technology segment in the market

What are the key factors hampering growth of the market?

The major factor hampering growth of the market include high cost involved in the vaccine development process and stringent government regulations for product approval.

Which are the major players operating in the market?

Major players operating in the market include AstraZeneca, GlaxoSmithKline plc., Pfizer Inc., Abbott, Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Sanofi, EMERGENT, Astellas Pharma Inc., CSL Limited, Novavax, Serum Institute of India Pvt. Ltd., Bharat Biotech., Indian Immunologicals Ltd., DAIICHI SANKYO COMPANY, LIMITED, and Merck & Co., Inc.