Global Vaccines Market Size By Age Group (Pediatric, Adult), By Technology (Conjugate, Attenuated, Inactivated, Recombinant, Toxoid), By Disease (Cancer, Hepatitis, Pneumococcal Disease, DTP, Dengue, Influenza, Human Papilloma Virus, Meningococcal Disease, Polio, Rotavirus), Regional Outlook (U.S., Canada, Germany, UK, Spain, Russia, Italy, France, China, Japan, India, South Korea, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Qatar, Egypt), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025
Vaccines Market will exceed over USD 70 billion by 2025; as per a new research report.
Increasing demand for preventive vaccines, rising number of people suffering from infectious as well as non-infectious diseases globally will drive vaccines market over the forecast timeframe. Increasing government funding for vaccine development will further boost industry growth.
Widespread routine vaccination programmes, numerous initiatives undertaken by government to encourage vaccine administration especially in developing and underdeveloped countries will positively impact industry growth. Growing awareness about reduced mortality due to immunization should propel vaccines industry growth over the forecast period.
High adoption of new vaccines coupled with technological advancements should stimulate business growth. Moreover, strong product pipeline of leading companies such as Merck, Novavax, Emergent BioSolutions will lead to industry expansion over the coming years. However, high cost associated with transportation and storage of vaccines will limit vaccines market growth to certain extent over the foreseeable future.
Adult segment will witness 9.8% CAGR during the forecast period. Growing demand for cost-effective vaccines with simple delivery systems should drive segment growth. Rising awareness regarding reduced mortality rate due to immunization has stimulated adoption rate of vaccines in adult age-group.
Recombinant vaccine technology segment will grow lucratively over the forecast timeframe to account for more than 20% market share in 2025. Recombinant vaccines are more effective and advanced than conventional set of vaccines particularly in preventing occurrence of diseases such as typhoid, malaria and human papillomavirus (HPV) should drive segment growth.
Human papillomavirus disease segment will witness 8.4% CAGR during the forecast period. Increasing R&D by researchers to increase cross-protections against numerous types of HPV, to improve the half-life and reduce the number of vaccinations should drive segment growth. Company such as Inovio Pharmaceuticals is currently working on developing VGX-3100 vaccine to treat cervical dysplasia caused due to human papillomavirus.
U.S. vaccines market is anticipated to experience growth of 8.9% CAGR during the forecast timeframe. High adoption rate of vaccines to reduce incidence of infectious diseases along with several initiatives undertaken by government by increasing immunization rate and recommendations should stimulate business growth.
Japan vaccines market will grow significantly over the coming years to reach over USD 6.0 billion by 2025. Introduction of routine vaccination programme in October 2016 leading to introduction of numerous important and routine vaccines having higher rate of administration as compared to voluntary vaccines should drive Japan vaccines market.
Some of the major market players involved in global vaccines market are Merck, AstraZeneca, Johnson & Johnson, Novartis, Bristol-Myers Squibb, Abbott, Sanofi Pasteur, GlaxoSmithKline, Pfizer, Emergent BioSolutions, CSL, Astellas Pharma and Novavax. Firms are focusing on product launch to fortify their product base and market reach over the coming years.
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