Global Vaccine Market Report and Forecast 2023-2031

Global Vaccine Market Report and Forecast 2023-2031

Global Vaccine Market Outlook:

The global vaccine market value was USD 61.6 billion in 2022, driven by the increasing awareness about the importance of vaccination across the globe. The market size is anticipated to grow at a CAGR of 10.5% during the forecast period of 2023-2031 to achieve a value of USD 151 billion by 2031.

Introduction

The global vaccine market plays a crucial role in preventing and controlling infectious diseases, providing protection to individuals and populations worldwide. Vaccines are biological substances that stimulate the immune system to produce an immune response against specific pathogens or diseases. They are considered one of the most cost-effective public health interventions, as they help prevent the spread of infectious diseases and reduce morbidity and mortality rates

The vaccine market is driven by various factors, including increasing awareness about the importance of vaccination, government initiatives to promote immunization programs, and the continuous research and development efforts in the field of vaccine technology. The market encompasses a wide range of vaccines, including those for viral diseases (such as influenza, measles, and hepatitis) and bacterial diseases (such as tetanus, pertussis, and pneumococcal infections), as well as newer vaccines for emerging diseases and conditions.

Key Trends in the Vaccine Market

Some key trends involved in the vaccine market are as follows:

Development of Novel Vaccines: The vaccine market is witnessing the development of novel vaccines targeting various diseases, including infectious diseases, cancers, and autoimmune disorders. Advancements in vaccine technology, such as recombinant DNA technology and viral vector-based vaccines, have enabled the development of more targeted and effective vaccines.
Increasing Focus on Preventive Vaccination: There is a growing emphasis on preventive vaccination to control the spread of infectious diseases. Governments, healthcare organizations, and vaccine manufacturers are collaborating to enhance immunization coverage, particularly in underprivileged populations and developing countries. The expansion of vaccination programs and campaigns is a key trend in the vaccine market.
Growing Adoption of Combination Vaccines: Combination vaccines, which provide protection against multiple diseases in a single formulation, are gaining popularity. They offer convenience and improve compliance by reducing the number of vaccine doses and injections required. Combination vaccines also help streamline immunization schedules and reduce healthcare costs.
Technological Advancements in Vaccine Manufacturing: Advancements in vaccine manufacturing technology, including cell culture-based production, recombinant protein expression, and adjuvant development, are driving the vaccine market. These advancements contribute to improved vaccine efficacy, production scalability, and cost-effectiveness.

Vaccine Market Segmentations

Market Breakup by Technology

Conjugate Vaccines
Recombinant Vaccines
Inactivated and Subunit Vaccines
Live Attenuated Vaccines
Toxoid Vaccines
Viral Vector Vaccines
Others
Market Breakup by Product Type

Monovalent Vaccines
Multivalent Vaccines
Market Breakup by Patient Type

Pediatric
Adults
Market Breakup by Indications

Bacterial Diseases
Meningococcal Disease
Pneumococcal Disease
Diphtheria/Tetanus/Pertussis (DPT)
Tuberculosis
Typhoid
Others
Viral Diseases
Hepatitis
Influenza
Human Papillomavirus (HPV)
Measles/Mumps/Rubella (MMR)
Rotavirus
Herpes Zoster
Polio
Dengue
Others
Market Breakup by Route of Administration

Oral
Parenteral
Others
Market Breakup by Treatment Type

Preventive Vaccines
Therapeutic Vaccines
Market Breakup by End User

Hospitals
Clinics
Vaccination Centres
Academic and Research Institutes
Others
Market Breakup by Distribution Channel

Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
Others
Market Breakup by Region

North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Italy
Others
Asia Pacific
China
Japan
India
ASEAN
Australia
Others
Latin America
Brazil
Argentina
Mexico
Others
Middle East and Africa
Saudi Arabia
United Arab Emirates
Nigeria
South Africa
Others

Vaccine Market Scenario

The global vaccine market is a dynamic and rapidly growing sector that plays a crucial role in public health. Vaccines are essential tools for preventing and controlling the spread of infectious diseases, providing protection to individuals and communities against various pathogens. They have been instrumental in eradicating or significantly reducing the burden of many diseases worldwide.

The market for vaccines is driven by several factors, including increasing awareness about the importance of vaccination, government initiatives to promote immunization programs, advancements in vaccine research and development, and the rise in global healthcare expenditure. Vaccines are administered across various age groups, from infants to the elderly, and are utilized in both preventive and therapeutic contexts.

The market is characterized by a wide range of vaccines, including those for common childhood diseases such as measles, mumps, and rubella, as well as vaccines for seasonal influenza, human papillomavirus (HPV), hepatitis, and pneumococcal infections. Additionally, the development of new vaccines targeting emerging infectious diseases and non-communicable diseases is an ongoing area of focus.

Vaccine Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

Merck & Co., Inc. (MSD)
Pfizer Inc.
GlaxoSmithKline Plc. (GSK)
Sanofi S.A. (Sanofi Pasteur)
Serum Institute of India Pvt. Ltd.
AstraZeneca pls
Johnson & Johnson (Janssen)
China National Biotec Group (CNBG)
CSL Limited (Seqirus)
Emergent Biosolutions
Walvax Biotechnology Co., Ltd.
Sinovac Biotech Ltd.
Bharat Biotech International Limited
PT Bio Farma (Persero)
Biological E Limited
Takeda Pharmaceutical Company Limited
Abbott Laboratories
Biological E Limited