Vaccine Market By Technology Type (Recombinant, Conjugate Vaccines, Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, and Other), Indication (Pneumococcal Disease, Influenza, Human Papilloma Virus, Meningococcal Disease, Rotavirus, Varicella, Measles, Mumps, & Rubella, Diphtheria, Pertussis, & Tetanus, Polio, Hepatitis and Other) and End User (Pediatric, Adult and Traveler) and Geography – Global Forecast up to 2027
The Vaccines Market is estimated to grow at the rate of 6.7% CAGR by 2027. The key factors accelerating the vaccine market are the high incidence of diseases requiring vaccines and increasing use of vaccines in preventing the number of infectious diseases, such as influenza, pneumonia, and rotavirus infection. Moreover, the focus of governments on immunization programs further helps promote awareness among people about the safety and availability of vaccines. Another factor accelerating the market growth is various technologies deployed in the development of effective vaccines. However, the time taken for the development and introduction of the vaccine impedes the market growth. Vaccines also referred to as immunizations, are a weakened form of a disease administered into the body to generate antibodies against the disease. Effectual immunization has destroyed several diseases, such as polio and smallpox, with high death rates. Vaccinations have a prominent role in maintaining sustainable health among people in many countries; hence, they are embraced in many regional disease-prevention strategies.
Vaccines Market based on Technology Type
- Conjugate Vaccines
- Live Attenuated Vaccines
- Inactivated Vaccines
- Toxoid Vaccines
Vaccines Market based on Indication
- Pneumococcal Disease
- Human Papilloma Virus
- Meningococcal Disease
- Varicella, Measles, Mumps, & Rubella
- Diphtheria, Pertussis, & Tetanus
Vaccines Market based on End User
Vaccines Market based on Geography
- North America
- Asia Pacific
- Rest of the World
On the basis of technology type, the conjugate vaccine segment has the primary share in the market. This is due to the rising government support along with the increasing company investments in conjugate vaccine development. In addition, conjugate vaccines are the most effective type of immunization, used to avoid diseases in both infants and adults, fueling the segment growth.
The market is further segmented based on the indication, in which diphtheria, pertussis, & tetanus segment hold a significant share in the market. The foremost share of this segment is attributed to the increasing number of cases of these diseases because of the increasing geriatric population and an increasing number of birth rates where these diseases are most likely to affect.
As per the market by end-user, the market is bifurcated into pediatrics, adults, and travelers. The pediatric segment has held a substantial share in the market, owing to the huge demand for vaccines among infants such as MMR vaccines, BCG vaccines, and DPT vaccines since infants are more prone to diseases where vaccines are mainly required.
According to the geographical market, the market is divided into North America, Europe, Asia Pacific, and the rest of the world. The North American region is registered for the largest share in the market. This is due to the high incidence of infectious diseases and rising investments by government and non-government organizations for vaccine development in the region.
In the present era, there are growing concerns about the spread of infectious diseases with the changing environment worldwide. These rising infectious diseases are pressure on public health but also affect global economies. The new diseases such as HIV, hepatitis, dengue have drawn considerable concern for the government of the respective countries. There is also an upturn of diseases assumed to be under control, such as malaria, cholera, and many more. Thus the rising number of dreadful infectious diseases and upturn of the diseases are creating a major growth in the vaccines market.
This report includes the company profiles of the Panacea Biotec Limited, Johnson & Johnson Services, Inc, VBI Vaccines Inc., Merck & Co., Inc., Astellas Pharma Inc., GlaxoSmithKline Plc, Sanofi S.A., PFIZER INC, NOVAVAX, INC., and Bavarian Nordic.
As a result, vaccines have emerged as an effective solution for the rising infectious diseases worldwide. Various governments of several countries are substantially investing in developing effective vaccines for a surging number of diseases worldwide.
- Several factors are presented in this report which are influencing the market growth and limiting the market.
- This report covers the segmentation and sub-segmentations and their contribution to the market's growth.
- The report includes profiles of the key competitors in the vaccine market and their strategies such as product launches, company expansions, and acquisitions.
- Further, the penetration of the market in the various countries is also depicted in this report.