Vaccine Market to Reach US$ 128.6 Bn by 2032, driven by newly emerging infectious pathogenic diseases has influenced the need for effective vaccines across the globe: Global Insight Services
New York, June 2023: According to a new research study by Global Insight Services (GIS), the global Vaccine Market is expected to grow rapidly over the next 10 years to reach a value of more than the US $128.6 Billion by 2032.
A vaccine is a biological which is used to boost the person’s immune system and help to provide immunization against chronic diseases. The suspension consists of either weakened or killed forms of disease-causing microorganisms that enhance immunity without causing diseases. The vaccine provides active immunity against a specific harmful agent such as diseases caused by a certain pathogen, injection, bacteria, virus, or parasites. By stimulating the immune system to attack the agent and eliminating these agents and increasing the life of adults and elderly individuals. After stimulation by a vaccine, B lymphocytes remain sensitized and ready to respond to the agent whenever it enters the body next time.
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Vaccine Market: Key Trends and Drivers
The expanding availability of preventive as well as therapeutic vaccines for range of diseases will boost the market expansion. Furthermore, newly emerging infectious pathogenic diseases has influenced the need for effective vaccines across the globe. This has driven the R&D activities undertaken by the operational players as well as dedicated research institutes. Advancement in vaccine development technologies to increase its efficacy and liability will offer innovative solutions to address existing disease burden. The adoption of novel development approaches including DNA/RNA vaccines, nanoparticle vaccines, and rational design will foster the vaccines market expansion.
Vaccine Market: Restraints & Challenges
Some of the market obstacles include a scarcity of experienced specialists and significant investment costs, as well as legal and ethical concerns about the market methods and outcomes in numerous nations.
Vaccine Market Report Findings
The adult segment is likely to hold a dominant Vaccine Market share and grow at a substantial CAGR during the forecast period.
Based on age group, the market is bifurcated into Pediatric, and Adult. Adult vaccines segment is projected to proceed at xx% CAGR during the forecast timeframe. This is attributable to the increasing awareness about the importance of immunization and advancements in vaccine technology, more adults are actively seeking vaccination against various diseases. The rise in chronic conditions, such as heart disease, diabetes, and respiratory illnesses, has further propelled the demand for adult vaccines. Additionally, the COVID-19 pandemic has highlighted the critical need for adult vaccinations, leading to a surge in vaccine uptake. As a result, pharmaceutical companies and healthcare providers are focusing on expanding their adult vaccine portfolios and improving accessibility to cater to this growing market segment. Additionally, some countries have established the vaccination policies and regulations for adults while travelling to particular nations to avoid the risk of disease transmission, that has further influenced the vaccination rate in adults.
The Inactivated segment is anticipated to hold a majority of the Vaccine Market size throughout the study period.
Based on the technology, the market is bifurcated into Conjugate, Live, Inactivated, Recombinant, Toxoid. Vaccines market from inactivated segment exceeded USD xx billion in 2022. This is attributed to the ability of inactivated vaccines in destruction of pathogen replication. This offers effective protection against various dreadful pathogenic diseases such as hepatitis A, influenza, polio, and rabies. Moreover, these vaccines prevent the reversal activity of pathogens to more pathogenic phenotype and avoids the interference with other functional molecules during the combination therapies. This leads to preference for inactivated technology over the live vaccines. Furthermore, as it can stored without refrigeration for certain period as the pathogen is dead, it offers ease in transportation and storage that will continue to increase its demand.
The COVID-19 segment is anticipated to hold a majority of the Vaccine Market size throughout the study period.
Based on the application, the market is bifurcated into Cancer, Hepatitis, Pneumococcal Disease, Influenza, Rotavirus, COVID-19, and others. Among these the Covid-19 vaccine segment has experienced remarkable growth within the vaccine market. Since the emergence of the pandemic, the urgent need for effective vaccines has driven extensive research, development, and manufacturing efforts worldwide. The unprecedented global demand for Covid-19 vaccines has led to a surge in production and distribution capabilities, with numerous pharmaceutical companies, governments, and international organizations actively participating in the vaccination campaigns. This growth has been fueled by the imperative to curb the spread of the virus, alleviate the strain on healthcare systems, and restore economic stability. The Covid-19 vaccine segment’s rapid expansion has not only contributed significantly to saving lives and reducing the severity of the disease but has also propelled advancements in vaccine technology and infrastructure, fostering innovation and resilience in the broader vaccine market.
The Europe region is estimated to exhibit the highest growth rate during the Vaccine Market forecast period.
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Europe vaccines market accounted for xx% revenue share in 2022. This is attributable to the adoption of new technologies and expanding awareness about the preventive vaccines in the region. The government organizations are implementing some strategies to broaden accessibility for the emerging infectious disease treatments including the COVID-19. In addition, the industry players entered in collaboration with non-government organizations to provide COVID-19 vaccines considering significantly increasing disease incidence in the region.
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The global Vaccine Market report includes players are AstraZeneca plc., CSL Limited, Emergent BioSolutions Inc., GlaxoSmithKline plc., Johnson & Johnson, Merck & Co., Novavax, Pfizer Inc, Sanofi S.A., and Serum Institute of India, among others.
Recent Developments in the Blood-Brain Barrier Market:
- In February 2021, Ceva partnered with the French National Research Institute for Agriculture, Food, and Environment (INRAE) for R&D in the prevention of infectious diseases from animal origin and improvement of animal health.
- In January 2021, Zoetis launched the Poulvac Procerta HVT-IBD vaccine for the protection of poultry against Infectious Bursal Disease (IBD). This added to the company line of recombinant vector vaccines.
- UNICEF and Pfizer entered into a supply agreement for the COVID-19 vaccines distribution throughout 2021. This has helped the company to maintain broaden its distribution across the globe, thereby driving the business revenue.
Vaccine Market Report Coverage
- The report offers a comprehensive quantitative as well as qualitative analysis of the current global Vaccine Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
- A thorough analysis of market trends and restraints is provided.
- Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
- The forecasts in this report are made by examining the recent trends along with future Vaccine Market potential from 2022 to 2032 in terms of revenue.
- Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Vaccine Market are also analyzed.
- Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global kidney stones management market.
Global Vaccine Market Segmentation
By Age Group
- Pneumococcal Disease
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Rest of World
- Latin America
- Middle East