London, June 05, 2020 (GLOBE NEWSWIRE) -- Vaccines represent one of the greatest achievements of science and medicine in the fight against infectious diseases. Vaccines are biological agents that elicit an immune response against a specific antigen derived from disease-causing pathogen. Development of vaccine has led to eradication of various infectious diseases such as smallpox and polio, which are now completely eliminated from many countries, including countries located within North & Latin America and Europe. Further, with the advancements in vaccine production techniques and increase in adoption, it is speculated that the other pandemic diseases will soon be eliminated like other diseases.
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Vaccination is based on the principle of altering of immunity by inducing the multiplication of specialized cells, mainly lymphocytes, which either kill virus-infected cells by direct contact or through proteins they secrete. The induced immune response against disease-causing organism through vaccine configures the body’s immune cells in such a way so that they become capable of quickly recognizing and reacting to the same antigen in a more powerful manner when encountered again. Hence, due to vaccine’s high potential in prevention of diseases, development of new vaccines is growing exponentially with incessant launch of new vaccines and many candidates in pipeline. Moreover, the rising health awareness, increasing healthcare expenditure, rising per capita income, and growing healthcare infrastructure, have persuaded the key players in the vaccine market to derive new vaccine products.
Furthermore, government initiatives to increase vaccination coverage globally has positively impacted the market. For instance, in 2019, WHO launched Polio Endgame Strategy 2019-2023 to immunize every child and eradicate polio completely. Also, in 2018, Indian government launched comprehensive multi-year plan (2018-22) to reduce mortality and morbidity due to vaccine preventable diseases.
The global vaccines market is expected to grow at a CAGR of 5.2% from 2019 to 2027 to reach $62.2 billion by 2027. The growth in this market is majorly driven by factors such as strong pipeline for vaccines, increasing government focus on immunization programs, and technological progress in vaccine administration. However, high cost associated with vaccine development and longer timelines for vaccine manufacturing hinders the growth of this market.
The growth in the global vaccines market is mainly attributed to the strong pipeline for vaccines, increasing government focus on immunization programs, and technological progress in vaccines administration. Furthermore, increasing epidemic potentials and growing focus on therapeutic vaccines, and growth prospects in emerging markets are expected to offer significant growth opportunities for players operating in the vaccines market. However, high cost associated with vaccine development and longer timelines for vaccine manufacturing hinders the growth of this market to some extent.
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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.
On the basis of indication, pneumococcal disease segment commanded the largest share of the overall vaccines market in 2019. The major share of this segment is attributed to rising incidence of pneumococcal diseases like pneumonia, meningitis, febrile bacteraemia, otitis media, and sinusitis, development of quality vaccines such as PPSV23, and initiatives by government organizations and private sectors to prevent and control outbreak of pneumococcal diseases. Owing to these reasons, the adoption and demand for pneumococcal vaccines is consistently increasing globally, thereby driving the growth of this market.
On the basis of route of administration, intramuscular vaccines accounted for the largest share of the overall vaccines market in 2019. The major share of this segment is attributed to its easy accessibility, unaided administration, larger muscle capacity, and precise control of dose and administration rate.
On the basis of antigen, subunit or conjugate vaccines accounted for the largest share of the overall vaccines market in 2019, mainly attributed to the low risk of immunogenicity and long-term immunity.
On the basis of valence, multivalent vaccines accounted for the largest share of the overall vaccines market in 2019. The major share of this segment is attributed to consistent new multivalent vaccine launches in recent years and increasing focus and investment of the key players to produce multivalent vaccines.
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Geographically, the global vaccines market is segmented into five major regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa with a further analysis of major countries in these regions. North America commanded the largest share of the global vaccines market in 2019, followed by Europe and Asia-Pacific region. The major share of this region is mainly attributed to the increasing burden of infectious diseases, increasing R&D expenditure, and various government initiatives supporting immunization. Asia-Pacific region is projected to grow at the highest CAGR during the forecast period, owing to prevalence of diseases, government investments to boost immunization, growing approval of vaccines, increasing investments to improve vaccine production facilities, and increasing investments by the major players in this region. In addition, increasing disposable income and growing awareness about health in emerging countries are further propelling the demand for vaccines in APAC region.
Some of the key players operating in the global vaccines market are 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.
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Scope of the 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
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