LONDON, Dec. 04, 2018 (GLOBE NEWSWIRE) -- According to this latest publication from Meticulous Research®, the global vaccines market is expected to reach $57.50 billion by 2025 from $33.70 billion in 2018, growing at a CAGR of 7.2%, driven by high prevalence of diseases, increasing government initiatives towards immunization, rising adoption of vaccines, technological advancement in vaccines industry, and strong pipeline for vaccines. In addition, increasing epidemic potentials and growing focus on therapeutic vaccines are expected to offer significant growth opportunities for players operating in the vaccines market. However, factors such as high cost associated with vaccines development, stringent regulations, and product recalls are expected to hinder the growth of this market to a certain extent.
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The pneumococcal disease accounted for the largest share of the global vaccines market. The large share of this segment is mainly attributed to high prevalence of pneumococcal disease in pediatric, elderly, and immunocompromised populations. In addition, growing number of pneumococcal diseases associated with chronic disease patients is further driving the adoption of the pneumococcal vaccines.
Based on type of vaccines, vaccines market is sub-segmented into subunit, recombinant, polysaccharide, and conjugate vaccines; inactivated vaccines; live-attenuated vaccines; and toxoid vaccines. Subunit, recombinant, polysaccharide, and conjugate vaccines segment accounted for the largest share of the vaccines market.
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Geographically, North America accounted for largest share of vaccines market with its well established vaccination program, increasing prevalence of various diseases, growing adoption of advanced vaccines, and large pool of key players. However, the Asia-Pacific vaccines market is expected to grow at a highest CAGR during the forecast period mainly attributed the large patient pool, growing awareness on vaccination, increasing government initiatives, and expanding presence of key players in this region. In addition, increasing disposable income and growing awareness about heath in emerging countries are further propelling the demand for vaccines in APAC region.
With four big pharmaceutical companies; GSK, Merck & Co., Inc., Pfizer, and Sanofi, the vaccine industry is highly consolidated. Together, these players capture major share of the market. CSL Limited, Emergent Biosolutions, Johnson and Johnson, Serum Institute of India, Daiichi Sankyo, Takeda and AstraZeneca are the other leading players in the global vaccines market.
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