• Stacy Lawlor

Global Vaccines Market Size to worth over USD 125.5 billion in 2028


Vaccines Market

The Global Vaccines Market Size was valued at USD 61.04 billion in 2021 and is projected to grow USD 125.5 billion in 2028, at a CAGR of 10.85%.


Vaccines, also known as immunizations, are a key component of primary health care. Vaccines reduce the risks of contracting diseases by working with the body’s natural defenses system to build protection. According to the World Health Organization (WHO), vaccines currently prevent 2-3 million deaths every year from diseases such as tetanus, diphtheria, pertussis, measles, and influenza. Growing awareness and increasing investment by the government are boosting sales.

Vaccines Market
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Vaccines strengthen people’s immune systems and offer protection against different types of infectious diseases such as HIV, malaria, and tuberculosis. Moreover, the increasing prevalence of infectious diseases is expected to propel market demand during the forecast period. For instance, the COVID-19 pandemic recorded more than 497 million cases globally.


The pandemic had a severe impact on the Vaccine Market. The COVID-19 pandemic has exerted pressure on the vaccine manufacturers to increase production and supply of products. In addition, a majority of pharmaceutical, and healthcare organizations have concentrated on the production of treatment vaccines, diagnostics kits, and medication against the Novel Coronavirus, which led to increased production and demand for the vaccine, during the forecast period. Moreover, pharmaceutical companies are prioritizing research and development of coronavirus-related diagnostics, and treatments, as well as looking at the potential of existing treatments. These factors are propelling the growth of the market.


The COVID-19 pandemic halted the regular immunization campaign. For instance, according to the United Nations Children’s Fund (UNICEF), 99 countries reported termination of vaccination campaigns for polio, meningococcal disease, measles, and many other antigens.


Growing awareness and increasing investment by key players such as Serum Institute of India Pvt. Ltd., Pfizer, Inc, The Scripps Research Institute, and others, to develop new immunizations are expected to increase the adoption of vaccines. For instance, The Scripps Research Institute Florida has been successful in developing a non-conventional vaccine to defeat the SIVmac239 viral strain nicknamed the “death star.”


The Growing Prevalence of Infectious Diseases is Driving Market Growth


The growing prevalence of diseases such as Swine Flu, Zika, MERS, Avian Flu Ebola, Chikungunya, and most recently, COVID-19. has ensured the growth in the demand for vaccines, during the forecast period. Medical professionals have warned that future pandemics could be even more lethal than COVID-19. This has boosted sales and provided opportunities for the market.


Strong Governmental Support for Production and Distribution Channels is Propelling Growth


Globally, Governments focused on providing cost-effective vaccines to the people. trong governmental support and rising investment for the production and distribution of vaccines across the globe has driven the increasing production and demand. Government funding and company investment are driving research and development activity in this sector.


North America is the largest market for vaccines, due to the presence of large manufacturers such as Johnson & Johnson Inc., VBI Vaccines, Novavax, Inc., Emergent BioSolutions, Inc., Pfizer, Inc., Merck & Co., Inc., and others. It also focuses on increasing vaccination rates across the region through adequate financing policies. In addition, growing immunization awareness and secure government policy regarding vaccination are projected to drive market growth, during the forecast period.


The Asia-Pacific is the second-largest market for immunizations, owing to the increasing population, which has resulted in the growing need for vaccines. Increasing government funding and investment in boosting immunization rates in this region are predicted to boost sales.

Vaccines Market
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Europe is the third-largest market for immunizations due to well-equipped and well-developed countries that are highly focused on developing vaccines. The presence of high-growth markets such as Germany and France also contributed to the expansion of the market.


The Vaccines Market is segmented by Technology, Disease Indication, and Region. Based on the Technology, the market is categorized into Live Attenuated Vaccines, Conjugate Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, and Other Vaccines. Based on Disease Indication, the market is categorized into Pneumococcal Disease, Influenza, Human Papillomavirus, Meningococcal Disease, Rotavirus, Varicella, Diphtheria, Pertussis, and Tetanus {DPT}, Polio, Hepatitis, Measles, Mumps, and Rubella {MMR}, and Other Indications. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.


KEY INDUSTRY PLAYERS

Prominent market players have focused on strengthening their market positions with several product offerings. For instance, GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), Pfizer, Inc. (US), Sanofi SA (France), CSL Limited (Australia), Emergent BioSolutions, Inc. (US), Johnson & Johnson (US), AstraZeneca plc (UK), Serum Institute of India Pvt. Ltd. (India), Bavarian Nordic A/S (Denmark), Mitsubishi Tanabe Pharma Corporation (Japan), Daiichi Sankyo Company, Limited (Japan), Panacea Biotec, Ltd. (India), Biological E Limited (India), Bharat Biotech Ltd. (India), Novavax, Inc. (US), FSUE NPO Microgen (Russia), Sinovac Biotech, Ltd. (China), Incepta Vaccine Limited (Bangladesh), Valneva SE (France), VBI Vaccines (US), PT Bio Farma (Persero) (Indonesia), Inovio Pharmaceuticals, Inc. (US), Chongqing Zhifei Biological Products Co., Ltd. (China), and Indian Immunologicals Limited (India).


KEY INDUSTRY DEVELOPMENTS:


In October 2021, Pfizer received the US FDA Emergency Use Authorization (EUA) for the Pfizer-BioNTech COVID-19 Vaccine for children from 5 to 11 years of age.


LIST OF KEY COMPANIES PROFILED:

● GlaxoSmithKline plc. (UK)

● Merck & Co., Inc. (US)

● Pfizer, Inc. (US)

● Sanofi (France)

● CSL Limited (Australia)

● Emergent BioSolutions, Inc. (US)

● Johnson & Johnson Services, Inc. (US)

● AstraZeneca (UK)

● Serum Institute of India Pvt. Ltd. (India)

● Bavarian Nordic A/S (Denmark)

● Mitsubishi Tanabe Pharma Corporation (Japan)

● Daiichi Sankyo Company, Limited (Japan)

● Panacea Biotec, Ltd. (India)

● Biological E Limited (India)

● Bharat Biotech Ltd. (India)

● Novavax, Inc. (US)

● FSUE NPO Microgen (Russia)

● Sinovac Biotech, Ltd. (China)

● Incepta Vaccine Limited (Bangladesh)

● Valneva SE (France)

● VBI Vaccines (US)

● PT Bio Farma (Persero) (Indonesia)

● Inovio Pharmaceuticals, Inc. (US)

● Chongqing Zhifei Biological Products Co., Ltd. (China)

● Indian Immunologicals Limited (India)


SEGMENTATION

By Technology

● Live Attenuated Vaccines

● Conjugate Vaccines

● Inactivated Vaccines

● Toxoid Vaccines

● Recombinant Vaccines

● Other Vaccines


By Disease Indication

● Pneumococcal Disease

● Influenza

● Human Papillomavirus

● Meningococcal Disease

● Rotavirus,

● Varicella

● Diphtheria

● Pertussis, and Tetanus {DPT}

● Polio

● Hepatitis

● Measles,Mumps, and Rubella {MMR}

● Other Indicators


By Region

● North America- U.S., Mexico, Canada

● Europe- UK, France, Germany, Italy

● Asia-Pacific- China, Japan, India

● Latin America- Brazil, Argentina, Colombia

● The Middle East and Africa- United Arab Emirates, Saudi Arabia


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https://extrapolate.com/Healthcare-Medical-Devices-Biotechnology/vaccines-market/18966

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