London, Jan. 30, 2020 (GLOBE NEWSWIRE) -- According to a new market research report “Vaccines Market by Indication (Influenza, Rotavirus, DTP Vaccines), Route of Administration (Intramuscular, Subcutaneous, Oral), Type/Antigen (Conjugate Vaccine, Live Attenuated Vaccine), Valence (Multivalent, Monovalent Vaccines) – Global Forecast to 2027”, published by Meticulous Research®, the vaccines market is expected to grow at a CAGR of 5.2% from 2019 to 2027 to reach $62.2 billion by 2027.
The high prevalence of infectious diseases, increasing government initiatives towards immunization, technological advancements in vaccines industry, and strong pipeline for vaccines are the key factors driving steady growth in the global vaccines market.
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In recent years, governments across the globe are focusing on minimizing the global disease burden, specifically for vaccine-preventable diseases. Some governments heavily focus on vaccination programs like Flu vaccination, Japanese Encephalitis etc. while many are partnering with the private sector and private companies for enhancing vaccine research and development for diseases which pose a serious potential threat. For instance, in 2019, WHO launched Polio Endgame Strategy 2019-2023 to immunize every child and eradicate polio completely. The major aim of the program includes stopping of all vaccine derived poliovirus outbreaks and eliminate the risk of emergence of polio, strengthening of immunization systems by collaborating healthcare organizations, and to facilitate rapid response and immunization in case of outbreaks. Also, in 2018, Indian government launched Comprehensive multi-year plan (2018-22), one of the India’s largest immunization programs aimed to reduce mortality and morbidity due to vaccine preventable diseases and to ensure vaccination coverage of more than 90% in the country.
The global vaccines market studied in this report is segmented on the basis of indications (Pneumococcal disease, Influenza, Human Papilloma Virus (HPV), DTP, meningococcal disease, rotavirus, poliomyelitis, MMR, hepatitis, and others), route of administration (intramuscular, subcutaneous, oral, others), antigen type (subunit & conjugate, inactivated, live-attenuated, toxoid, combination), valence (multivalent, monovalent), and geography.
Based on indications, the pneumococcal disease segment accounted for the largest share of the overall vaccines market in 2019. The large share of this segment is mainly attributed to the factors such as rising incidence of pneumococcal diseases like pneumonia, meningitis, febrile bacteraemia, otitis media, and sinusitis; development of quality vaccines such as PPSV23; and initiatives by various government organizations and private agencies to prevent and control outbreak of pneumococcal diseases.
Based on route of administration, intramuscular route accounted for the largest share of the overall vaccines market in 2019, mainly due to its greater adoption because of an easy accessibility, unaided administration, larger muscle capacity, and precise control of dose and administration rate.
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Based on type/antigen, the overall vaccines market is segmented into the subunit and conjugate, live attenuated, inactivated, and combination vaccine. The subunit and conjugate vaccines accounted for the largest share of this market in 2019. The greater adoption of these vaccines is mainly due to long term immunity and the low-risk rate associated with the subunit vaccines along with the increasing demand for immunization.
The vaccines market is further categorized on the basis of valence into multivalent and monovalent vaccines. The multivalent vaccines accounted for the largest share of this market in 2019 and is expected to grow at the fastest CAGR during the forecast period. New product launches and increasing focus towards production of multivalent vaccines along with the technological advancements in the manufacturing process of these vaccines are the key factors attributing to the largest share of multivalent vaccines.
On the basis of geography, North America commanded the largest share of the global vaccines market with the increasing efforts by the governments and companies to mandate vaccination in this region as well development of new vaccines. However, Asia Pacific region is expected to grow at the fastest CAGR during the forecast period due to large population of patients, establishment of vaccine production facilities, and increasing investments by the major players in this region.
The report also includes extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years (2016-2019). The vaccines market has witnessed number of approvals by regulatory authorities in the recent years. For instance, in November 2019, Sanofi (France) received approval by the U.S. Food and Drug Administration (FDA) for its Fluzone High-Dose Quadrivalent (Influenza Vaccine) for use in adults 65 years of age and older. Similarly, in October 2018, Merck & Co., Inc. (U.S.) received approval by the U.S. Food and Drug Administration for its vaccine GARDASIL 9 for the use in women and men from 27 to 45 years old for the prevention of cancer.
The global vaccines market is highly consolidated with the presence of key players, such as Sanofi (France), Merck & Co., Inc. (U.S.), GlaxoSmithKline plc (U.K.), Pfizer Inc. (U.S.), Johnson & Johnson (U.S.), Daiichi Sankyo Co., Ltd. (Japan), Takeda Pharmaceutical Company Limited (Japan), CSL Limited (Australia), Emergent BioSolutions Inc. (U.S.), and AstraZeneca (U.K.) among others.
Browse key industry insights spread across 225 pages with 159 market data tables & 52 figures & charts from the market research report: https://www.meticulousresearch.com/product/vaccines-market-5076/
Scope of the Vaccines Market Report:
Global Vaccines Market, by Indication
- Pneumococcal Disease
- Influenza
- DTP
- Human Papilloma Virus (HPV)
- Meningococcal Disease
- Poliomyelitis (Polio)
- MMR
- Rotavirus
- Hepatitis
- Other Indications
(Note: Other indications include varicella, herpes zoster vaccines, chlorella, and rabies vaccines.)
Global Vaccines Market, by Route of Administration
- Intramuscular (IM)
- Subcutaneous (SC)
- Oral
- Other Routes
(Note: Other routes include intradermal (ID), transcutaneous (TC), and nasal route)
Global Vaccines Market, by Type/Antigen
- Subunit & Conjugate Vaccines
- Inactivated vaccines
- Live Attenuated Vaccines
- Toxoid vaccines
- Combination Vaccines
Global Vaccines Market, by Valence
- Multivalent Vaccines
- Monovalent vaccines
Global Vaccines Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- Japan
- China
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
Additional Insights-
In addition to global opportunity analysis and market forecasts, the Vaccines Market study provides detailed insights on regulatory analysis, product pipeline analysis, pricing analysis, and unmet need analysis. The study also showcases competitive benchmarking for top market players, by product and geography. The competitive landscape of this study also provides market share analysis, by market players and vaccines brand.
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