The global vaccines market is expected to grow at a CAGR of around 6.4% from forecast period 2019 to 2026 and to reach the market value of around US$ 55.2 billion by 2026.
Vaccine is a biological product that provides acquired immunity against a specific disease. It is generally prepared from killed or weaken disease causing microorganism, one of its surface proteins, or from its toxins. Vaccination is the most effective method to prevent infectious diseases. Polio, influenza, HPV vaccine, meningococcal, and dengue are some of the widely used vaccines across the world. Increasing infectious diseases, investment in research and development by market players, government and private organizations initiatives to increase awareness about vaccination, and entry of various vaccines in the market are the key driving factors of the market. According to the World Health Organization (WHO), immunization prevents about 2 to 3 million deaths each year from influenza, diphtheria, pertussis, tetanus, and measles. Furthermore, it can prevent additional 1.5 million deaths if vaccination coverage improves across the world.
Increase in vaccination as it is one of the best cost-effective method to avoid diseases, rising in an access in developing countries due to initiatives by WHO and UNICEF’s immunization programs, and introduction of vaccines against various regional diseases are some of the driving factors of the vaccines market. Favorable reimbursement, growing awareness about vaccination, and investment by market players to introduce vaccines in the market are also positively impact the market growth. According to the recent data published by the WHO, measles mortality decreased by 80% across the world. In 2018, about 86% infants received 3 doses of DTP3 vaccine, protecting them from infectious diseases. Similarly, HPV vaccine was introduced in about 90 countries till 2018. However, high development cost and stringent regulations for commercialization of vaccines are the key restraining factors of the vaccines market. Hence, high cost of product may hamper its access in low and middle income countries. According to the WHO, every year about more than 10 million children die before they reach their 5th birthdays in low and middle income countries.
Based on technology, the vaccines market has been segmented into conjugate vaccines, inactivated vaccines, live attenuated vaccines, toxoid vaccines, recombinant vaccines. The conjugate vaccine segment held the largest share in the market due to long lasting protection and greater ability to give protection to toddlers and infants. Conjugate vaccine has a combination of weak and strong antigen as a carrier so that immune system gives strong response to weak antigen.
Pediatric vaccines accounted for the maximum share of the market in 2018. This can be attributed to large targeted population, government initiatives to increase children vaccination, and increasing awareness about vaccination schedules. Adult vaccine segment is also expecting significant growth in coming years due to rising awareness about regular health checkup and vaccination after 40 years of age.
Based on the route of administration, the market has been segmented into intramuscular & subcutaneous, oral, and others. The intramuscular segment accounted for the maximum share of the market in 2018 and is expected to maintain its dominance during the forecasts period as the route avoid adverse local effect of vaccine.
The market research study on “Vaccines Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight on the global vaccines market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global vaccines market, its technology, disease indication, type, patient type, rote of administration, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global vaccines market size and segment markets by technology, disease indication, type, type of patient, rote of administration, and geography along with the information on companies operating in the market. The vaccines market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size for different segments has been covered under the scope of the report.
The players profiled in the vaccines market report include Astellas Pharma Inc., Bavarian Nordic, CSL Limited, Daiichi Sankyo Company, Limited, Emergent BioSolutions, Inc., GlaxoSmithKline plc, Johnson & Johnson, MedImmune, LLC, Merck & Co., Inc., Mitsubishi Tanabe Pharma Corporation. The key players of the industry are involved in R&D activities, commercialization of products, and mergers & collaborations to enhance their footprints in the industry. For instance, in February 2019, Bharat Biotech acquired Chiron Behring Vaccines Pvt. Ltd. from GlaxoSmithKline Asia. Chiron is one of the largest manufactures of rabies vaccines across the world. The acquisition is helping Bharat biotech to strengthen its product portfolio.
Market By Technology
By Route of Administration
By Type of Patient
Market By Geography
Vaccine is a biological product that provides acquired immunity against a specific disease.
Polio, influenza, HPV vaccine, meningococcal, and dengue are some of the widely used vaccines across the world.
Acumen Research and Consulting predict that the vaccines market value is anticipated to be worth around US$ 55.2 billion in 2026.
The vaccines market is anticipated to grow over 6.4% CAGR during the forecast period 2019 to 2026.
North America held maximum share in 2018 for vaccines market.
Asia Pacific is projected to grow at a fast pace during forecast period in the vaccines market.
Pediatric vaccines accounted for the maximum share of the market in 2018.