Pune, India, Dec. 07, 2021 (GLOBE NEWSWIRE) -- According to the report by Fortune Business Insights, the global Vaccines market size was USD 46.88 billion in 2019 and is projected to reach USD 104.87 billion by 2027, exhibiting a CAGR of 10.7% during the forecast period. ; Rising Demand for Cost-Effective Immunization Therapies to Aid Expansion.
Vaccines Market Report Projection & Coverage:
| Report Coverage | Details |
| Forecast Period | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR | 10.7 % |
| 2027 Value Projection | USD 104.87 billion |
| Base Year | 2019 |
| Market Size in 2019 | USD 46.88 billion |
| Historical Data for | 2016-2018 |
| No. of Pages | 156 |
| Segments covered | Type, Route of Administration, Disease Indication, Age Group, Distribution Channel, And Region |
| Growth Drivers | Alliances between Raw Material Suppliers and Market Players to Boost Growth |
| Strong Supply Backed Up by Robust R&D to Drive the Market |
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Strong Demand for Pocket-friendly Immunization to Boost Growth
The increasing supply of various products to cater to the need of patients will have a positive influence on the market. The surge in unmet needs along with the global aim to eradicate endemic diseases will encourage the development of vaccines. The united focus of pharmaceutical companies, government foundations, international organizations, and hospitals towards cost-effective vaccines and immunization therapies for people around the world. The active government scrutiny for vaccines at a minimum cost or no cost for every individual will further incite market development in the forthcoming years. For instance, the pneumococcal conjugate vaccine was rolled out by the Universal Immunization Programme (UPI) to 21 lakh children in Himachal Pradesh and parts of Bihar in India. The increasing R&D investment by companies for novel products will further escalate market demand, which, in turn, will bode well for the market.
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Low Adoption of Vaccines Amid COVID-19
The postponement of immunization campaigns and reduction in the vaccination rate during pandemic has produced major concerns. According to the GAVI, the ceasing of immunizations will result in a lack of vaccination for 13.5 million people from the least developed countries. The decline in pneumococcal vaccine supply will further limit market expansion during coronavirus pandemic. The lower adoption of vaccines in lower- and middle-income nations will subsequently dampen the growth of the market. However, the potential pipeline drugs for coronavirus is expected to contribute enormously to the growth of the market. For Pfizer, Johnson and Johnson, and other players are running clinical trials for potential candidates, which will soon be released after regulatory approvals.
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Presence of Eminent Manufacturers to Influence Growth in North America
The market in North America generated a revenue of USD 24.88 billion in 2019 and is expected to remain dominant during the forecast period. The growth in the region is attributed to the presence of key manufacturers in the region. The increasing awareness regarding vaccination along with secure government policies for healthcare will further support expansion in the region. Asia Pacific is expected to witness a rapid growth rate during the forecast period due to the increasing population in India and China. The growing demand for vaccines will have a positive effect on the market. Europe is expected to account for a significant share owing to the increasing demand for immunization. The prevalence of chronic diseases will spur opportunities for the market in the region.
List of the Companies Operating in the Market:
- GlaxoSmithKline plc. (Brentford, United Kingdom)
- Sanofi (Paris, France)
- Pfizer Inc. (New York, United States)
- Merck & Co., Inc. (New Jersey, United States)
- Novartis AG (Basel, Switzerland)
- Emergent BioSolutions, Inc. (Maryland, United States)
- CSL Limited (Melbourne, Australia)
- Inovio Pharmaceuticals, Inc. (Pennsylvania, United States)
- Bavarian Nordic (Denmark)
- Mitsubishi Tanabe Pharma Corporation (Osaka, Japan)
- Other Prominent Players
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Global Vaccines Market Segmentation:
By Type:
- Recombinant/Conjugate/Subunit
- Inactivated
- Live Attenuated
- Toxoid
By Route of Administration:
- Parenteral
- Oral
By Disease Indication:
- Viral Diseases (Hepatitis, Influenza, Rotavirus)
- Bacterial Diseases
By Age Group:
- Pediatric
- Adults
By Distribution Channel:
- Hospital
- Retail Pharmacies
By Geography:
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
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Table of Contents:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Key Industry Developments - Merger, Acquisitions, and Partnerships
4.2 Technological Developments
4.3 Porter’s Five Forces Analysis
4.4 SWOT Analysis
4.5 Impact of COVID-19
5. Global Vaccines Market Analysis, Insights and Forecast, 2017-2027
5.1. Key Findings / Summary
Continued….
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