Vaccines Market, by Technology (Conjugate Vaccines, Inactivated and Subunit Vaccines, Live Attenuated Vaccines, Toxoid Therapy, and Recombinant Therapy), by Type (Monovalent Vaccines and Multivalent Vaccines), by Indication (Typhoid, Hepatitis, Pneumococcal, DTP, Malaria, Influenza, Human Papilloma Virus, Meningococcal, Polio, Rotavirus, MMR, Varicella, Herpes Zoster, and Others), by Route of Administration (Parenteral Administration and Oral Administration), by Age Group (Pediatric and Adult), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028
Vaccination is a way to prevent infectious diseases such as polio, measles, pneumonia, and others. Vaccines contain severely weakened forms of viruses or bacteria, dead viruses or bacteria, or purified components of viruses or bacteria. After receiving a vaccine, body's immune system can remember bacteria or viruses and can fight off infections more effectively. Vaccines protect people from life-threatening and serious diseases, such as yellow fever, tuberculosis, hepatitis B, and others. There are some people who cannot get vaccinated because they may be too young or sick. Widespread vaccination can help protect such people. When a sufficient number of individuals in a population are immune to a disease, or a large proportion of a population are vaccinated, herd immunity is achieved, that acts by breaking the transmission of infection. Vaccines are mostly administered by injection (parenteral administration), but some are given orally or even nasally (in the case of flu vaccine).
Market Dynamics
Increasing regulatory approvals for vaccines are expected to drive the market growth during the forecast period. For instance, in August 2021, the U.S. Food and Drug Administration approved the Pfizer-BioNTech COVID-19 Vaccine, the first COVID-19 vaccine. The vaccine was developed in partnership by Pfizer Inc., an U.S.-based based pharmaceutical and Biotechnology Company, and BioNTech SE, a biotechnology company. It will be marketed as Comirnaty and will be used for the prevention of COVID-19 disease for individuals with 16 years of age and older. The vaccine will also continue to be available for individuals between 12 and 15 years of age under emergency use authorization (EUA) and for the administration of a third dose to certain immunocompromised people.
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