Vaccines Market by Type (Monovalent Vaccine, Multivalent Vaccine), Technology Type (Inactivated Vaccines, Live-Attenuated Vaccines, Messenger RNA (mRNA) Vaccines), Indication, Route of administration, Age Group - Global Forecast 2024-2030

Vaccines Market by Type (Monovalent Vaccine, Multivalent Vaccine), Technology Type (Inactivated Vaccines, Live-Attenuated Vaccines, Messenger RNA (mRNA) Vaccines), Indication, Route of administration, Age Group - Global Forecast 2024-2030

The Vaccines Market size was estimated at USD 55.66 billion in 2023 and expected to reach USD 59.94 billion in 2024, at a CAGR 7.79% to reach USD 94.14 billion by 2030.

Vaccines are biological preparations that equip the body's immune system with the capability to combat disease-causing microbes effectively. They work by stimulating the immune response to generate a specific defense mechanism, predominantly in the form of antibodies, against harmful pathogens. The rising incidence of infectious diseases globally and the rise in immunization programs worldwide significantly influence this growth. Moreover, favorable government initiatives and policies for vaccine development are also driving market growth. High development costs, lengthy testing and approval process issues over product recalls, and inaccessibility in a few regions pose challenges to the growth of the vaccine market. Integration of adjuvants in vaccines, development of therapeutic vaccines, and growth in the contract manufacturing of the vaccines are expected to create significant growth opportunities in the market.

Regional Insights

In Asia-Pacific, robust economies such as China, India, and Japan have exhibited significant growth in vaccine markets due to large population densities and high prevalence of infectious diseases, necessitating comprehensive immunization drives. There's a high need for vaccines in the Americas, comprising countries such as the United States and Canada, owing to the demographic makeup and an expansive public health infrastructure. Significant investments in research and development (R&D) of vaccines, recent patents, and initiatives further fuel the growth. The EMEA region, with diverse economic landscapes, displays varying consumer behavior. The European Union, with well-funded health systems, necessitates extensive immunization programs. The Middle East and Africa possess a significant potential for market growth. Initiatives such as the collaboration between the Serum Institute of India and the Africa Vaccine Acquisition Trust in 2022 to supply COVID-19 vaccines are pivotal changes reshaping this landscape.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Vaccines Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising incidence of infectious diseases globally
• Favorable government initiatives and policies for vaccine development
• Growing focus on immunization across the world

Market Restraints

• High development costs, lengthy testing and approval processes

Market Opportunities

• Integration of adjuvants in vaccines and development of therapeutic vaccines
• Growth in the contract manufacturing of the vaccines

Market Challenges

• Issues over product recalls and inaccessibility in few regions

Market Segmentation Analysis

• Type: Significant preference for monovalent vaccines for specific disease prevention
• Technology Type: Rising development in the conjugate vaccines as an viable alternative
• Indication: Growing need for DPT vaccine for protection against serious respiratory ailments
• Route of administration: Increasing adoption of oral vaccines for longer-lasting immune responses
• Age Group: wider adoption of pediatric vaccine as a preventive measure owing to rising HPV vaccine usability

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Vaccines Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Vaccines Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Oxford R21/Matrix-M Malaria Vaccine Receives WHO Recommendation for Use

The R21/Matrix-M malaria vaccine, developed by the University of Oxford with the Serum Institute of India with Novavax's adjuvant technology, has received a recommendation for use by the World Health Organization (WHO) based on its adherence to safety, quality, and effectiveness standards. The vaccine has been licensed for use in Ghana, Nigeria, and Burkina Faso.

BioNTech and CEPI Announce Partnership to Advance mRNA Mpox Vaccine Development and Support CEPI’s 100 Days Mission

BioNTech SE and the Coalition for Epidemic Preparedness Innovations (CEPI) formed a strategic partnership to develop mRNA-based vaccine candidates, such as BNT166, with the goal of preventing the occurrence of Mpox. In support of their 100 Days Initiative Mission, CEPI has committed up to USD 90 million in funding to this project, which aims to safeguard against future pandemics. The BNT166 vaccine candidate is expected to serve as a safe and scalable prophylactic against Mpox, while also generating valuable data for the rapid development of vaccines targeting Orthopoxviruses. This partnership between BioNTech and CEPI is dedicated to ensuring equitable access to any licensed vaccines resulting from this initiative at an affordable price in lower-income countries.

Pfizer and BioNTech Receive U.S. FDA Approval for 2023-2024 COVID-19 Vaccine

Pfizer Inc. and BioNTech SE received the U.S. Food and Drug Administration (FDA) approval for emergency use authorization for their COVID-19 vaccine. This (COMIRNATY 2023-2024 Formulation) authorization includes individuals 12 years and older, with additional authorization for individuals 6 months to 11 years of age. The vaccine is recommended as a single dose for most individuals aged 5 years and older. This updated vaccine aims to provide improved protection against symptomatic and severe disease.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Vaccines Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Vaccines Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Astellas Pharma Inc., AstraZeneca PLC, Bavarian Nordic A/S, Bharat Biotech Ltd., Biological E. Limited, Chongqing Zhifei Biological Products Co.,Ltd., CSL Limited, CureVac SE, Daiichi Sankyo Co., Ltd., Emergent BioSolutions Inc., Gennova Biopharmaceuticals Limited, GlaxoSmithKline PLC, Inovio Pharmaceuticals, Inc., Johnson & Johnson Services, Inc., Merck KGaA, Mitsubishi Chemical Group Corporation, Moderna Inc., Novavax, Inc., Pfizer Inc., Sanofi Group, Serum Institute of India Pvt. Ltd., Sinovac Biotech Ltd., Takeda Pharmaceutical Company Limited, and Zydus Lifesciences Limited.

Market Segmentation & Coverage

This research report categorizes the Vaccines Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type

• Monovalent Vaccine
• Multivalent Vaccine
• Technology Type
  • Inactivated Vaccines
  • Live-Attenuated Vaccines
  • Messenger RNA (mRNA) Vaccines
  • Subunit, Recombinant, Polysaccharide, & Conjugate Vaccines
  • Toxoid Vaccines
  • Viral Vector Vaccines
  • Indication
  • DPT
  • Hepatitis
  • Human Papillomavirus
  • Influenza
  • Measles
  • Meningococcal Disease
  • Mumps & Rubella
  • Pneumococcal Disease
  • Polio
  • Rotavirus
  • Varicella
  • Route of administration
  • Intramuscular & Subcutaneous
  • Oral
  • Age Group
  • Adults
  • Pediatric
  Region
  • Americas
  • Argentina
  • Brazil
  • Canada
  • Mexico
  • United States
  • California
  • Florida
  • Illinois
  • New York
  • Ohio
  • Pennsylvania
  • Texas
  • Asia-Pacific
  • Australia
  • China
  • India
  • Indonesia
  • Japan
  • Malaysia
  • Philippines
  • Singapore
  • South Korea
  • Taiwan
  • Thailand
  • Vietnam
  • Europe, Middle East & Africa
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Israel
  • Italy
  • Netherlands
  • Nigeria
  • Norway
  • Poland
  • Qatar
  • Russia
  • Saudi Arabia
  • South Africa
  • Spain
  • Sweden
  • Switzerland
  • Turkey
  • United Arab Emirates
  • United Kingdom
  
  
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