Coherent Market Insights

U.S. Vaccine Market to Surpass US$ 35.1 Bn by 2030

U.S. Vaccine Market to Surpass US$ 35.1 Bn by 2030 - Coherent Market Insights

Publish On: Jul 17, 2023

U.S. Vaccines Market, By Product Type (Human Vaccine (Pediatric Vaccines, Adult & Adolescent Vaccines, Other Human Vaccines), Animal Vaccine (Livestock Vaccines, Companion Animal Vaccines, Other Animal Vaccines)), By End User (Hospitals, Clinics Vaccination, Centers) is estimated to be valued at US$ 23.8 Billion in 2023 and is expected to exhibit a CAGR of 5.7% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.

Key market players are focused on adopting inorganic growth strategies such as collbrations, which is expected to drive the U.S. vaccines market during the forecast period. The adoption of new variants in the vaccines helps in better workflow, accuracy, prevention, and diagnosis of the disease. For instance, in December 2022, Sudan is a country in Northeast Africa, the Federal Ministry of Health (FMOH) in Sudan, in collaboration with the World Health Organization (WHO) and the United Nations Children's Fund (UNICEF) launched a catch-up vaccination campaign to vaccinate children against polio and yellow fever.

U.S. Vaccines Market– Impact of Coronavirus (COVID-19) Pandemic

The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.

COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of equipment from one place to another.

COVID-19 had a positive impact on the U.S. Vaccines market. While the pandemic has increased public awareness about the importance of vaccines, it has also disrupted the supply chain for many vaccines, including polio and rabies. For instance, an article published in the U.S National Library of Medicine, in June 2022, reported an immune response to SARS-CoV-2 RdRp is induced in adults receiving a booster inoculation of IPV. Polio Vaccine (IPV) for SARS-CoV-2 and Prevention of Coronavirus Disease (COVID-19)

U.S. Vaccines Market: Key Developments

In June 2020, GlaxoSmithKline plc and Medicago Inc., two of Mitsubishi Tanabe Pharma Corporation's subsidiary companies, announced their collaboration. They established a partnership to create a plant-based virus-like particle (VLP) vaccine for COVID-19.

In December 2020, Pfizer, a multinational pharmaceutical and biotechnology corporation headquartered at The Spiral in Manhattan, New York City, and BioNTech a biotechnology company, Authorization of Vaccine to Prevent COVID-19 in the U.S.

In August 2023, the U.S. Food and Drug Administration approved the first COVID-19 vaccine. The vaccine has been known as the Pfizer-BioNTech COVID-19 Vaccine, and marketed as Comirnaty, for the prevention of COVID-19 disease in individuals 16 years of age and older.

In February 2021, Johnson & Johnson is develops medical devices, pharmaceuticals, and consumer packaged goods announced that the U.S. Food and Drug Administration (FDA) has issued an Emergency Use Authorization (EUA) for its single-dose COVID-19 vaccine, developed by the Janssen Pharmaceutical Companies of Johnson & Johnson, to prevent COVID-19 in individuals 18 years of age and older.

Browse 34 Market Data Tables and 26 Figures spread through 176 Pages and in-depth TOC on “U.S. Vaccines Market”- Forecast to 2030, U.S. Vaccines Market By Product Type (Human Vaccine (Pediatric Vaccines, Adult & Adolescent Vaccines, Other Human Vaccines), Animal Vaccine (Livestock Vaccines, Companion Animal Vaccines, Other Animal Vaccines)), By End User (Hospitals, Clinics Vaccination, Centers).

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Key Takeaways of the U.S. Vaccines Market:

  • The U.S. Vaccines market is expected to exhibit a CAGR of 5.7% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the U.S. vaccines market. The spread of outbound medical tourism services has been driven by high public awareness in developed economies such as the U.S.
  • Among Product type, the Human Vaccine is expected to dominate the market over the forecast period and this is attributed to increasing acquisition and partnerships in companies, which is expected to drive the segment growth over the forecast period. For instance, In June 2020, Bavarian Nordic A/S, a biotechnology company, and Valneva SE, a biotech company in France, announced a partnership for the marketing and distribution of rabies and tick-borne vaccines in selected American countries and the U.S.
  • Major players operating in the U.S. Vaccines market include Sanofi Pasteur, GlaxoSmithKline Plc, Merck & Company Incorporated, Pfizer Incorporated, AstraZeneca plc, Boehringer Ingelheim, Bharat Biotech., BIO-MED, Serum Institute of India Pvt. Ltd., Kedrion Biopharma Inc. GlaxoSmithKline plc., Bilthoven Biologicals, Cadila Healthcare Limited, Sanofi Pasteur India Pvt Ltd, Chiron Behring Vaccines Private Ltd, Zoetis Inc., Elanco., Boehringer Ingelheim International GmbH, Indian Immunologicals Ltd, Wyeth pharmaceuticals, Berna Biotech Ltd., Novartis Vaccines Ltd, and Medimmune LLC.

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