Vaccine Market To Be Driven By The Rising Prevalence Of Chronic Diseases In The Forecast Period
The new report by Expert Market Research titled, ‘Global Vaccine Market Share, Report and Forecast 2022-2027’, gives an in-depth analysis of the global vaccine market, assessing the market based on its segments like technologies, indications, end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 57.55 Billion
- Forecast CAGR (2022-2027): 80%
- Forecast Market Size (2027): USD 106.49 Billion
The pandemic led to the growth of the vaccine market in the historical period. This can be attributed to many biotechnology companies’ numerous attempts to develop vaccines against the deadly virus. The vaccine industry is being driven by the increasing incidences of infectious and chronic diseases. Growing awareness of the effectiveness of vaccines is also encouraging many to receive the doses and huge demand among children, which is augmenting the vaccine industry. The rising geriatric population and their susceptibility to deadly diseases are pushing the need for worldwide immunisation, thus resulting in the incremental development of the vaccine industry. All these factors are providing impetus to market growth.
Industry Definition and Major Segments
Vaccines are prepared from the disease-causing agents that stimulate the production of antibodies in the human body. This is to boost the immunity in order to fight back the disease. These are injected to curb the spread of infectious diseases and provide herd immunity. The administration of vaccines is called vaccination.
The vaccine industry, by technology, is divided into:
- Recombinant and Conjugate Vaccine
- Inactivated Vaccines
- Live Attenuated Vaccines
- Toxoid Vaccines
Based on indication, the market is segregated into:
- Pneumococcal Disease
- Human Papilloma Virus
- Meningococcal Disease
- Varicella, Measles, Mumps, and Rubella
- Diptheria, Pertussis, and Tetanus (DPT)
- JE (Japanese Encephalitis) Vaccine
On the basis of end-use, the market is categorised into:
- Paediatric Vaccine
- Adult Vaccine
- Travellers Vaccine
The regional markets of vaccine include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The efforts taken by several international organisations like WHO and its partners in ensuring the availability of vaccines and providing quality and affordable vaccines play a critical role in the steady growth of the market. The flexible legislation and continuous funding from the government are also bolstering the market growth. Moreover, the vaccine stockouts are also leading mid-size manufacturers to expand their portfolios in order to compete in regional and new vaccine markets, which is invigorating the vaccine industry. The investments in research and development activities coupled with mergers and acquisitions to develop efficient vaccines by the leading industry players are also expected to augment the vaccine industry in the forecast period.
Key Market Players
The major players in the market are GlaxoSmithKline plc, Novartis AG, Pfizer Inc., Sanofi, AstraZeneca plc., and Johnson & Johnson Services, Inc., among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.