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Global vaccines market will grow at a CAGR of 9.34% during the forecast period from 2022 to 2027

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Global vaccines market will grow at a CAGR of 9.34% during the forecast period from 2022 to 2027

July 28
21:17 2022
Global vaccines market will grow at a CAGR of 9.34% during the forecast period from 2022 to 2027

Global vaccines market will grow at a CAGR of 9.34% during the forecast period from 2022 to 2027 in order to reach USD 116.63 billion by 2027. The vaccines market is witnessing a positive market growth owing to the factors such as rising prevalence cancers such as lung cancer which are contributing in the growing demand for therapeutics as well as prophylactic cancer vaccines. Moreover, the growing focus on reducing childhood morbidity and mortality rates due to preventable diseases in children is another prominent factor responsible for the growth of the vaccines market. Additionally, the COVID-19 pandemic also presented opportunities for growth for the vaccines market across the globe as it created an exigency for the COVID-19 vaccines.

 

Vaccines Overview

A vaccine is a biological substance designed to protect humans from infections caused by bacteria and viruses.

 

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Recent Developmental Activities in Vaccines Market:

  • In February 2022, the Medicines and Healthcare products Regulatory Agency (MHRA) of the United Kingdom granted the regulatory approval to Novavax for their COVID-19 vaccine Nuvaxovid.
  • In October, 2021, the World Health Organization announced the recommendation of the first malaria vaccine for children- Mosquirix, which was considered a breakthrough by the U.N. agency as a “”historic moment.””
  • In October 2021, Seqirus, received the regulatory approval from the U.S. Food and Drug Administration (FDA) for their FLUCELVAX® QUADRIVALENT (Influenza Vaccine), which is the company’s cell-based quadrivalent influenza vaccine, for an expanded age indication for children as young as six months old.

 

Key Takeaways from the Vaccines Market Report Study

  • Market size analysis for current vaccines market size (2020), and market forecast for 5 years (2021-2026)
  • The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the vaccines market.
  • Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
  • Key companies dominating the global vaccines market.
  • Various opportunities available for the other competitor in the vaccines market space.
  • What are the top performing segments in 2020? How these segments will perform in 2026.
  • Which is the top-performing regions and countries in the current vaccines market scenario?
  • Which are the regions and countries where companies should have concentrated on opportunities for vaccines market growth in the coming future?

 

COVID19 Impact on the Vaccines Market

The vaccines market was slightly impacted by the implementation of measures to curb the spread of the COVID-19 infection. In order to cater to the exigency created by the COVID-19 pandemic, all other medical specialties witnessed a reduction in patient load. For instance, the pandemic caused a disruption in the immunization programs run by various international organizations such as the United Nations Children’s Fund (UNICEF), Pan American Health Organization (PAHO), and WHO among other organizations. For instance, as reported by the UNICEF, in May 2020, 99 countries reported the termination of the immunization campaigns for various infectious diseases including polio, diphtheria-tetanus-pertussis (DTP), measles/rubella among others. This presented with a massive decrease in the uptake of vaccines across the globe. Nevertheless, the market for vaccines is on a period of recovery owing to the development and approval of COVID-19 vaccines as well as the resumption of the regular immunization programs across the globe thereby presenting a positive future outlook for vaccines market during the forecast period from 2022-2027.

 

Vaccines Market Dynamics

One of the key aspects driving the vaccines market can be attributed to the surge in the prevalence of infectious diseases. As per the Centers for Disease Control and Prevention (2020), diphtheria was one of the leading causes of childhood death before the advent of vaccines. In recent years, there has been a slight increase in the number of cases of diphtheria across the globe. For instance, the World Health Organization (WHO) reported that in 2018, near about 16,000 new cases of diphtheria were reported across the globe.

 

Vaccines Market Segment Analysis

Vaccines Market by Type (Inactivated Vaccines, Live-Attenuated Vaccines, Subunit Vaccines, Recombinant Vaccines, Messenger RNA Vaccines, Toxoid Vaccines, Viral Vector Vaccines, and Others), by Indication (Cancers, Infectious Diseases, Autoimmune Diseases, and Others), by Age Group (Adults and Pediatrics), by Distribution Channel (Hospitals & Clinics, Vaccination Centers, and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World)

 

Vaccines Market Age Group Segment

In the age group segment of the vaccines market, the pediatrics category is estimated to register significant share in market revenue during the forecast period (2022-2027). This can be attributed to the basic fact that infants and young children have a developing immune system. As per UNICEF (2022), children under the age of 5 years are especially susceptible to infectious diseases such as pneumonia, malaria, tuberculosis, and HIV among others. The previously mentioned source further stated that despite being entirely preventable and treatable, some of the most common infectious diseases still account for a large number of affected pediatric population. According to UNICEF, in 2018, diarrhea, pneumonia, and malaria resulted in near about 29% of global deaths among children under the age of 5. Considering the dire need for keeping the immunization programs running and preventing childhood deaths due to infectious diseases, there are new vaccines for pediatrics that are being launched in the market. For instance, in December 2018, the US Food and Drug Administration (FDA) granted the regulatory approval to VAXELIS, a Diphtheria and Tetanus Toxoids and Acellular Pertussis Adsorbed, Inactivated Poliovirus, Haemophilus b Conjugate [Meningococcal Protein Conjugate] and Hepatitis B [Recombinant] Vaccine) for use in children from 6 weeks through 4 years of age. Similarly, numerous COVID-19 vaccines have also gained approval to be used in pediatric patients. For instance, in February 2022, the European Medicines Agency (EMA) recommended granting an extension of indication for the COVID-19 vaccine Spikevax to include use in children aged 6 to 11.

 

North America is estimated to amass the significant revenue share in the global vaccines market

This can be ascribed to the high prevalence of cancers, and extensive vaccination programs being conducted in the region, particularly in the United States. Furthermore, high disposable income, sophisticated healthcare infrastructure, and extensive focus on therapy development is another factor that acts as a supportive factor for the North America vaccines market growth.

 

Vaccines Market Growth Factors

One of the key supporting factors for the growth of the North America vaccines market is the increasing prevalence of cancers in the United States.  As per the figures mentioned by the American Cancer Society, in 2021, it was estimated that 1.9 million new cancer cases have been diagnosed in the United States. The data provided by the Centers for Disease Control and Prevention (2021), in 2018, 1,708,921 new cases of cancers were reported. For instance, the American Cancer Society estimates that in 2022, approximately 14,100 new cases of invasive cervical and near about 4,280 women are expected to die from cervical cancer. Considering the high incidence of cancers, the demand for cancer vaccines is set to increase in the country. This is further evident from the ongoing extensive research in the development of cancer vaccines such as based on mRNA which may open up another avenue for the approval of such vaccines subsequently driving the growth of the vaccines market in the United States.

 

Vaccines Market Companies

Some of the key market players operating in the vaccines market includes GlaxoSmithKline, Serum Institute of India, Bharat Biotech, AstraZeneca, Bavarian Nordic A/S, BioNTech, Sanofi, Merck & Co., Inc, Pfizer Inc, Moderna, Mitsubishi Chemical Holdings Corporation, EMERGENT, CSL Limited, Janssen Global Services, VBI Vaccines Inc., Valneva SE., SEQIRUS, Novavax and others.

 

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Table of Content

1. Vaccines Market Report Introduction

2. Vaccines Market Executive Summary

3. Regulatory Analysis

4. Vaccines Market Key Factors Analysis

5. Vaccines Market Porter’s Five Forces Analysis

6. COVID-19 Impact Analysis on Vaccines Market

7. Vaccines Market Layout

8. Vaccines Market Global Company Share Analysis – Key 3-5 Companies

9. Vaccines Market Company and Product Profiles

10. KOL Views

11. Project Approach

12. About DelveInsight

13. Disclaimer & Contact Us

 

About Us

DelveInsight is a Business Consulting and Market research company, providing expert business solutions for the healthcare domain and offering quintessential advisory services in the areas of R&D, Strategy Formulation, Operations, Competitive Intelligence, Competitive Landscaping, and Mergers & Acquisitions.

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