Few public health strategies can match the impact of immunizations. Vaccines have helped to minimize sickness, disability, and death caused by a wide range of infectious diseases. The World Health Organization suggests that immunization access must be expanded to meet the Sustainable Development Goals (SDGs). Vaccinations not only prevent illness and death from infectious diseases including diarrhoea, measles, pneumonia, polio, and whooping cough, but they also facilitate broader educational and economic progress. All of the diseases have been lowered by more than 90%, with several of them being eliminated or having reductions of 99 percent or higher. The vaccines market continues to expand as inoculation proves to be the only way of keeping large portions of the population safe.
According to a recent economic analysis of 10 vaccines for 94 low- and middle-income countries, a USD 34 billion investment in immunization programs saved USD 586 billion in reduced disease costs and USD 1.53 trillion when broader economic benefits were considered. Smallpox, the only human illness ever eradicated, was eradicated with the help of a vaccine, and polio is on the verge of eradication with the use of vaccines as well. Such factors have been fueling global vaccines market growth.
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Millions of people worldwide have recently been infected with the COVID-19 disease. Community transmission has resulted in rising fatalities in some regions. In 2021, biopharmaceutical and biotech companies succeeded in bringing to market an effective vaccine against the virus that causes SARS-Cov-2. The coronavirus outbreak has sparked unprecedented demand and businesses are investing heavily in R&D activities along with government to meet the growing demand for COVID-19 vaccines. This is expected to boost the market’s growth prospects.
Despite tremendous progress, various people around the world, including nearly 20 million babies last year, still lack access to vaccines. In some countries, progress has stalled or even reversed, and there is a real risk that complacency will undo previous achievements. Furthermore, high storage and transportation costs for vaccines can stifle market supply. These factors are expected to hamper the revenue growth of the vaccines market to a certain extent going ahead.
Some Key Highlights in the Report:
- The conjugate vaccines segment had the largest share of the vaccines market in 2020. Increased government funding and growing company investments in conjugate vaccine production are attributable to this segment’s large share.
- Owing to growing immunization concerns against a number of predominant infectious diseases, which are a major cause of mortality and morbidity, most disease indication segments have registered considerable growth.
- The intramuscular and subcutaneous administration segment accounted for the largest revenue share in the vaccines market in 2020.
- The pediatric patients segment accounted for the largest revenue share among other patient type segments in 2020.
- In 2020, North America held the largest revenue share in the vaccines market. The regional growth can be attributed to increased public awareness of the risks of infectious diseases as well as increased government and non-government expenditures on vaccine production and widespread distribution.
- The fastest growth is expected in the Asia Pacific region over the forecast period, owing to a rising target population base with high unmet clinical needs.
- The major players in the global vaccines market are GlaxoSmithKline plc, Pfizer, Inc, Merck & Co., Inc. and Sanofi Pasteur, CSL Limited, Emergent BioSolutions, Inc., Johnson & Johnson, Serum Institute of India, AstraZeneca, Bavarian Nordic , Mitsubishi Tanabe Pharma Corporation, and Daiichi Sankyo Company, Limited.
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Segments Covered in the Report
For the purpose of this study, Reports and Data has segmented the global vaccines market on the basis of technology, type, disease indication, route of administration, patient type, and region:
Technology Outlook (Revenue, USD Billion, 2018 – 2028)
- Conjugate vaccines
- Inactivated and subunit vaccines
- Live attenuated vaccines
- Recombinant vaccines
- Toxoid vaccines
Type Outlook (Revenue, USD Billion, 2018 – 2028)
- Monovalent vaccines
- Multivalent vaccines
Disease Indication Outlook (Revenue, USD Billion, 2018 – 2028)
- Pneumococcal disease
- Meningococcal disease
- Herpes zoster
- Other disease indications
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Route of Administration Outlook (Revenue, USD Billion, 2018 – 2028)
- Intramuscular and subcutaneous administration
- Oral administration
- Other routes of administration
Patient Type Outlook (Revenue, USD Billion, 2018 – 2028)
- Pediatric patients
- Adult patients
Regional Outlook (Revenue, USD Billion, 2018 – 2028)
- North America
- Asia Pacific
- Latin America
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About Reports and Data
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