Vaccines Market Overview
Vaccines Market size is estimated to reach $54,150 million
by 2026, growing at a CAGR of 4.2%
over 2021-2026. Vaccines are referred to as immunizations that are very powerful way to prevent the diseases. Vaccines plays an important role in order to maintain the health of people by eliminating the burden of life threatening diseases. Various vaccines are used in order to reduce the diseases that are administered to generate a protective immune response such as toxoid, recombinant, conjugate vaccines, inactivated and subnit vaccine, live attenuated vaccine. With the help of recombinant DNA technology
, recombinant vaccine are produced that increases the capacity to protect against pathogens. Increasing prevalence of infectious disease among people and growing support for vaccine development is the major factor driving the growth of this market. Furthermore, increasing research and development activities in medical industry and rising government initiatives is set to further enhance the overall market demand for Vaccines Market for the period 2021-2026.
The report: “Vaccines Market Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Vaccines Market.
By Technology: Conjugate Vaccine, Inactivated Vaccine, Live Attenuated Vaccine, Toxoid Vaccine, Recombinant Vaccine, and Others
By Indication: Pneumococcal Disease, Influenza, Human Papilloma Virus, Meningococcal Virus, and Others
By End-Use Industry: Hospitals, Clinics, and Others
By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others) and Rest of the World (Middle East, Africa)
- Geographically, in 2020, North America dominated the Vaccines Market owing to increasing awareness about vaccine, availability of strong manufacturers, high healthcare expenditure and increasing favourable reimbursement policies.
- Increasing prevalence of infectious disease among people and growing support for vaccine development are likely to aid in the market growth of the Vaccines.
- Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Vaccines Market report.
- Stringent government regulation is set to create hurdles for the Vaccines Market.
Vaccines Market Size, By End-Use Industry 2020-2026 (USD Million)
Vaccines Segment Analysis – By Technology
The global Vaccines Market based on Technology can be further segmented into Conjugate Vaccine, Inactivated Vaccine, Live Attenuated Vaccine, Toxoid Vaccine, Recombinant Vaccine, and Others. The Conjugate Vaccine segment is the major segment generating revenue in 2020. This is mainly owing to utilize immune system that helps to fight against pathogens. Moreover, conjugate vaccine are also used for typhoid fever that increases the demand of conjugate vaccine and are rising the market growth. The Inactivated Vaccine segment is estimated to register the fastest CAGR of 1.6% for the period 2021-2026. This is mainly owing to easy storage and can be shipped smoothly increasing the growth of this segment.
Vaccines Segment Analysis – By End-Use Industry
The global Vaccines Market based on End-Use Industry can be further segmented into Hospitals, Clinics, and Others. The Hospital segment registers for the highest Vaccines market share in 2020. This is owing to simple convenience of hospital and higher selling capacity. Moreover, owing to availability of recombinant and toxoid vaccine patients can prefer hospitals and government is taking initiatives to increase the availability of vaccines in hospitals that increases the growth of this market. The Clinics segment is forecast to register the fastest CAGR of 0.5% over 2021-2026. This is mainly owing to rising research and development and increasing availability of vaccine live attenuated vaccine that are increasing the growth of this market.
Vaccines Segment Analysis – By Geography
North America dominated the Vaccines Market with major share of 40% in 2020. This is owing to increasing awareness about vaccine, availability of strong manufacturers, high healthcare expenditure and increasing favorable reimbursement policies. According to World Health Organization (WHO), about 1, 75,000 Americans suffered from pneumonia diseases in 2019 that increased the growth of this segment. However, Asia Pacific is estimated to outpace all the regions by clocking the highest CAGR of 2.1% during the forecast period 2021-2026 owing to rising population and increasing development in healthcare.
Vaccines Market Drivers
Increasing Prevalence of Infectious Disease
Increasing prevalence of infectious diseases increases the demand of vaccines and are increasing the growth of the Vaccines Market. According to Center for Disease Control and Prevention (CDC), about 9 million people are affected owing to chronic hepatitis infections in 2019 that increases the need of vaccines in order to reduce the infections and are increasing the growth of the Vaccines Market over 2021-2026.
Growing Support for Vaccine Development
Rising research and development of new vaccines among various regulatory agencies increases the growth of this Market. Moreover, government organization has established a public-private partnership in order to increases the funding for producing vaccines that helps to strengthen basic immunization systems that also increasing the growth of Vaccines Market over 2021-2026.
COVID-19 pandemic had greatly affected the Vaccines Market. During pandemic, researchers are working to develop a vaccine for Covid-19 as the virus is spreading quickly among people that decreases the focus for the vaccination for other infectious diseases and are negatively impacted the growth of this market.
Vaccines Market Challenges
Stringent Government Regulations
The factors that is set to impede the growth of the Vaccines Market are the strict regulation by the government. Moreover, high cost of vaccines is set to create hurdles for the Vaccine Market.
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Vaccines Market. Vaccines top 10 companies include, Abbott, AstraZeneca, Johnson & Johnson, GlaxoSmithKline, Merck & Co. Inc., Pfizer, Sanofi, Novavax, CSL Limited, and Emergent BioSolutions Inc.
- In March 2020, Pfizer has collaboration with BioNTech in order to advance the development in mRNA vaccine for coronavirus infection.
- In March 2019, Merck & Company Inc. are working for new TB drugs for the people suffering from tuberculosis that increases the development in vaccine research and are rising the market growth.
Report Code: HCR 0226
Report Code: HCR 0129
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