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The global vaccines market size is estimated to grow by USD 56.39 billion, at a CAGR of 13.83% between 2023 and 2028. Global population health has recently improved due to enhanced public health measures, science-based medicine, and vaccine developments. Strong research and development, often through public-private partnerships, have eradicated serious infectious diseases. Manufacturers now heavily invest in technical capabilities for vaccine life cycle management, necessitating collective efforts from manufacturers, regulators, and suppliers. Such partnerships, involving governments, researchers, purchasers, and policymakers, drive vaccine innovation success. Increased funding has led to numerous vaccine candidates in various clinical trial stages. The wave in investments and the launch of vaccines for diverse infectious diseases are set to fuel the market's growth in the forecast period.
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The global vaccines market is a critical component in the fight against infectious diseases and pandemics like tuberculosis (TB). With organizations such as the International Council for Harmonisation (ICH) guiding standards, the market witnesses the development of various types of vaccines, including live attenuated and toxoid vaccines. However, challenges such as the suspension of immunization campaigns due to pandemics, like COVID-19, can disrupt vaccine introduction and distribution. Despite such challenges, the market is moved by factors like the government's immunization policies and competitive pipelines, aiming to combat diseases like cervical cancer and Hepatitis A-Hepatitis B. These vaccines come in different forms, including recombinant/conjugate/subunit and mRNA, administered via parenteral or oral routes, with the goal of reducing mortality rates and tackling endemic diseases worldwide.
The vaccines market industry size report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in USD Billion for the period 2023 to 2027, as well as historical data from 2018 to 2022 for the following segments.
In the product segment, various vaccines play a crucial role in preventing and combating a wide range of diseases. Tuberculosis (TB) remains a major global health concern, and vaccines like Cervavac are essential in controlling its spread and reducing deaths associated with the disease. Live attenuated vaccines, such as those for measles, mumps, and rubella, are effective in providing immunity against these endemic and infectious diseases. Pneumococcal vaccines address respiratory infections caused by Streptococcus pneumoniae, contributing to the reduction in pneumonia-related deaths worldwide. Despite the challenges posed by the ceasing of immunizations during the COVID-19 pandemic, efforts are underway to ensure a steady supply of vaccines to meet global demand. Governments and foundations play a crucial role in vaccine distribution and surveillance, ensuring that vaccines are accessible to all populations and monitoring their effectiveness. The competitive pipeline of vaccines continues to grow, with ongoing research and development focused on addressing emerging infectious diseases such as dengue fever. The route of administration for vaccines is also evolving, with advancements in vaccine delivery systems, including nasal sprays and microneedle patches, offering alternatives to traditional injection methods.
Overall, the global vaccines market is witnessing explosive growth trends, driven by the increasing awareness of the importance of vaccination and the continuous efforts to expand vaccine coverage worldwide.
The market share growth by the human vaccine segment will be significant during the forecast period. Human vaccines are a crucial segment, encompassing a wide range of products aimed at preventing infectious diseases and promoting public health. These vaccines are developed to stimulate the immune system's response to specific pathogens, thereby providing immunity against various diseases. Human vaccines can be categorized into different types based on their composition, mechanism of action, and target population.
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The human vaccine segment was the largest and was valued at USD 30.51 billion in 2018. Subunit vaccines consist of specific proteins or antigenic fragments derived from the pathogen, rather than the entire microorganism. Examples include the hepatitis B vaccine and the human papillomavirus (HPV) vaccine. Subunit vaccines are safer than live vaccines and often require adjuvants or multiple doses to enhance their immunogenicity. Additionally, there are conjugate vaccines, which combine a weak antigen with a carrier protein to enhance the immune response, particularly in young children who may not respond well to certain antigens alone. Overall, human combination vaccines play a crucial role in preventing infectious diseases and reducing the burden of illness worldwide. Continued R&D efforts, along with improvements in vaccine delivery and access, are essential for addressing global health challenges and maximizing the impact of vaccination programs. These factors will drive the growth of the segment market during the forecast period.
Hospitals are significant end-users in the market, playing a vital role in administering vaccinations to patients across all age groups. As primary healthcare providers, hospitals serve as central hubs for vaccination programs, offering a wide range of vaccines to prevent infectious diseases and promote public health. Furthermore, hospitals are essential contributors to vaccination efforts during public health emergencies and outbreaks of vaccine-preventable diseases. In such situations, hospitals may serve as vaccination centers, providing mass immunization campaigns to contain the spread of disease and protect vulnerable populations. For example, during influenza pandemics or outbreaks of emerging infectious diseases such as COVID-19, hospitals play a central role in administering vaccines to healthcare workers, first responders, and community members, helping to mitigate the impact of the outbreak on public health. These factors will drive the growth of the hospitals segment of the market during the forecast period.
Clinics represent a significant end-user segment in the market, playing a crucial role in providing immunization services to diverse patient populations. Clinics, including primary care clinics, specialty clinics, and community health centers, serve as accessible healthcare facilities where individuals receive vaccinations as part of routine preventive care or specialized programs. Clinics serve as essential providers of specialized vaccines tailored to specific patient populations or health conditions. For example, travel clinics may offer vaccines to protect against tropical diseases prevalent in specific regions, such as yellow fever, typhoid fever, or Japanese encephalitis. Clinics also play a vital role in vaccine distribution and storage, ensuring that vaccines are stored and handled according to recommended guidelines to maintain their potency and effectiveness. These factors will drive the growth of the segment during the forecast period.
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional market trends and drivers will shape the market during the forecast period. North America holds the largest share of the market, primarily due to the increasing number of immunization programs and the strong prevalence of infectious diseases such as influenza, hepatitis A, hepatitis B, HIV, measles, malaria, and TB, and non-infectious diseases such as cancer. The prevalence of several infectious and non-infectious diseases has been increasing at a significant rate in the developed countries of the region. For instance, in the US, the prevalence of influenza rises every year in November and remains high for several weeks, from January to February each year. The regional market has witnessed increasing access to vaccines and a growing number of initiatives to generate awareness of immunization programs, which has driven the market growth.
For instance, HIV is the most common sexually transmitted infection in the US, with a high prevalence. To address this issue, several initiatives are being taken by different organizations, which will help in increasing access to vaccines. The initiatives aimed to provide information and generate awareness about HPV vaccination programs. The development of therapeutic and preventive vaccines for various diseases will provide patients with novel therapeutic options that offer high safety and efficacy, which will help accelerate market growth during the forecast period.
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The global vaccines market is witnessing significant developments, with a focus on combating various diseases. Tuberculosis (TB) and other endemic diseases have prompted initiatives like the International Council for Harmonisation (ICH) to streamline vaccine development. Live attenuated and toxoid vaccines play crucial roles in preventing mortality rates associated with infectious diseases. Despite challenges like pandemic disruptions and supply suspensions, initiatives by organizations like PAHO and the Government of India are promoting vaccine introduction and immunization policies. The market sees an explosive growth trend, with competitive pipelines featuring vaccines for diseases like cervical cancer and dengue. Various vaccine types, including recombinant, conjugate, and mRNA, offer multiple routes of administration, ensuring broad coverage.
Increased funding for vaccine development and new vaccine launches is notably driving market growth. The need for novel vaccines for chronic infections is growing. Thus, government and non-government organizations worldwide are increasing the research on novel vaccines for various infections, including HIV, Staphylococcus aureus, C. difficile, influenza, and respiratory syncytial virus. With the use of new and traditional technologies, many vaccine candidates have been studied in clinical research. Globally, there are numerous vaccine targets, including Group A streptococcal meningitis, Chlamydia trachomatis, pneumococcal, universal influenza, and C. difficile. Partnership models, such as the Program for Appropriate Technology in Health, are funded to fight against global diseases, including HIV, TB, and malaria.
Furthermore, funding for vaccine development comes from several organizations, such as Global Health and US Federal Funding for translational medicines. Product Development Partnerships (PDP) also play an important role in the development of novel vaccines. These recent partnerships not only facilitate the constant engagement of public and private sectors but also ensure the development and delivery of innovative approaches in vaccine R&D. Therefore, from the abovementioned factors, the market tends to grow positively during the forecast period.
Development of nanoparticle vaccines is the key trend in the market. Immunization programs play a crucial role in preventing the spread of various infectious diseases, including Dengue fever, Influenza, Tuberculosis, Malaria, Zika virus, and HIV/AIDS. The development of effective vaccines against these diseases is a major focus for researchers worldwide. Traditional vaccine development methods include the use of protein subunits and killed pathogens, as well as live attenuated organisms. However, these vaccines come with the risk of regaining pathogenicity under certain immunocompromised conditions. To address this challenge, the development of vaccines in conjunction with advanced delivery systems is essential to achieve the desired humoral and cell-mediated immunity.
Moreover, factors that determine the rate of uptake of vaccines among travellers include the length of the trip, the age of the traveller, the purpose of travel, social class, and the purpose of the trip. For instance, if the purpose of the travel is to visit friends and relatives, it is less likely that the traveller would seek pre-travel health advice. Hence, the increasing awareness related to vaccination among people across the globe before travelling is expected to increase the demand for several vaccines, especially travel vaccines, which, in turn, is expected to boost the growth of the market during the forecast period.
High cost of vaccine research, development, and manufacturing is the major challenge that affects the growth of the market. Vaccines have been a crucial component in the fight against infectious diseases, with successful immunization programs leading to the eradication of smallpox in several countries. However, the development of new vaccines for diseases such as Dengue fever, Influenza, Tuberculosis, Malaria, Zika virus, HIV, and TB (Tuberculosis) remains essential due to the ongoing threat they pose. The high development cost of vaccines is a significant barrier, with a study by the Coalition for Epidemic Preparedness Innovations estimating the cost of creating a single epidemic infectious disease vaccine from preclinical trials to the end of Phase IIa to be between USD 31 and USD 68 million, without accounting for potential clinical trial failures. The coalition was established to facilitate vaccine development and preparedness for outbreaks of infectious diseases.
In addition to epidemic diseases, therapeutic vaccines are also being explored to treat chronic conditions like cancer and autoimmune diseases. Despite these challenges, the vaccine development industry continues to advance, driven by the potential to save lives and improve global health. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Vaccines Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Astellas Pharma Inc - The company offers a vaccine namely MAPS vaccine. It is targeted to prevent and reduce the spread of pneumococcal disease.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The vaccines market industry size experiences dynamic shifts driven by various factors. Governments globally play a pivotal role through support and funding, ensuring vaccine availability against diseases like Dengue fever, tuberculosis, Zika virus, and Chikungunya. Organizations like the WHO and the European Centre for Disease Prevention and Control provide critical insights. High development costs, especially for therapeutic vaccines, pose challenges. Immunology and allergies research, adhering to ICH guidelines and Common Technical Document (CTD) standards, leads to innovations like recombinant vaccines, inactivated & subunit vaccines, and more. Billions of people, especially in less affluent nations, grapple with life-threatening infectious diseases, emphasizing the importance of immunization awareness and government initiatives. Challenges include vaccine distribution, manufacturing complexities, and occasional suspensions affecting vaccination rates. Key players like UNICEF and GAVI work towards regular immunization programs, especially in the least developed countries.
The global vaccines market is witnessing dynamic shifts, driven by factors such as TB (tuberculosis), pandemic threats, and the introduction of new vaccines. Despite challenges like the ceasing of immunizations and issues with the Pneumococcal vaccine supply, there are explosive growth trends, particularly in the approval and launch of vaccines like the Dengue tetravalent vaccine. Organizations like PAHO and the Government of India play vital roles in vaccine introduction and government surveillance. Competitive pipeline and press releases further shape the market landscape. Vaccines utilizing viral vectors, mRNA, and recombinant/conjugate/subunit technologies are contributing to innovative solutions. Understanding the route of administration is crucial for vaccine efficacy and adoption.
The global vaccines market plays a crucial role in combating endemic and infectious diseases like tuberculosis (TB), supported by organizations like the International Council for Harmonisation (ICH). It offers various vaccine types, including live attenuated vaccines and toxoid vaccines, aiming to reduce deaths and mortality rates worldwide. Despite challenges like the suspension of immunization campaigns and supply issues, vaccines are essential for preventing pandemics and improving healthcare systems. The launch and approval of vaccines, like Cervavac for cervical cancer, reflect ongoing efforts in immunization policies. Government foundations and surveillance ensure vaccine safety and efficacy, while competitive pipelines drive innovation, including vaccines for diseases like Dengue and Hepatitis A-Hepatitis B. With multiple routes of administration, from parenteral to oral, vaccines continue to be a cornerstone of global health initiatives.
Vaccines Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.83% |
Market Growth 2024-2028 |
USD 56.39 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
12.85 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 37% |
Key countries |
US, Canada, UK, Germany, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Astellas Pharma Inc., Bavarian Nordic AS, Bharat Biotech Ltd., BrightPath Biotherapeutics Co. Ltd., CSL Ltd., Daiichi Sankyo Co. Ltd., Emergent BioSolutions Inc., GlaxoSmithKline Plc, Gradalis Inc., Inovio Pharmaceuticals Inc., Johnson and Johnson Services Inc., Merck KGaA, Mitsubishi Chemical Group Corp., Novavax Inc., Pfizer Inc., Sanofi SA, Serum Institute of India Pvt. Ltd., Takeda Pharmaceutical Co. Ltd., Valneva SE, and AstraZeneca PLC |
Market dynamics |
Parent market growth analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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