Vaccines Market Size By Age Group (Pediatric, Adult), By Disease (Cancer, Hepatitis, Pneumococcal Disease, DTP, Influenza, Human Papilloma Virus, Meningococcal Disease, Polio, Rotavirus, COVID-19), By Technology (Conjugate, Live, Inactivated, Recombinant,

Vaccines Market Size By Age Group (Pediatric, Adult), By Disease (Cancer, Hepatitis, Pneumococcal Disease, DTP, Influenza, Human Papilloma Virus, Meningococcal Disease, Polio, Rotavirus, COVID-19), By Technology (Conjugate, Live, Inactivated, Recombinant, Toxoid), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2028

The vaccines market is expected to witness notable growth by 2028 owing to the rise in viral infectious diseases across the globe. In addition, the ongoing COVID-19 pandemic, coupled with growing occurrences of hepatitis and HPV, is primed to further augment industry expansion through the forecast timespan.

Prominent research and development activities in the vaccination industry promise safety against various chronic diseases like hepatitis, polio, and so on, thereby aiding industry expansion. After the COVID-19 outbreak, the vaccines market witnessed a magnificent surge in demand, prompting various organizations to boost vaccine access for people worldwide. For instance, in July 2021, UNICEF, the UN organization, announced its plans to ensure equitable availability of 2 billion COVID-19 vaccine doses across the world by the end of the year.

Additionally, regional mandates on COVID vaccines for international travel have also fueled industry growth. Furthermore, major players in the industry have been focusing on trending requirements of disease prevention as well as strategic collaborations with other organizations to effectively expand their business presence, which has positively impacted the development of the vaccines market.

For instance, in December 2021, pharmaceuticals giant GlaxoSmithKline (GSK) accepted funding from the GAVI Board for malaria vaccines’ procurement and introduction into routine child immunization program in Gavi eligible countries. The initiated program aimed to enhance access to GSK’s malaria vaccines.

In another instance, in February 2022, Astellas Pharma Inc., a leading pharma company, announced a partnership agreement with Affinivax, a biotechnology company. As part of the deal, Affinivax reacquired the license to ASP3772 (now known as AFX3772), a novel vaccine candidate for Streptococcus pneumonia for USD 65 million upfront payment.

Similarly, in May 2022, Serum Institute of India, a key Indian vaccine manufacturer, inked a Memorandum of Understanding (MoU) with Symbiosis International University to establish a research center for vaccines and biologicals in Pune, India. This move was purposed to improve immunization coverage equity around the country.

The vaccine market has been categorized on the basis of product, technology, disease, and region. With respect to product, the market has been bifurcated into adult and pediatric. The pediatric segment held about 20% market share in 2021 and is expected to grow considerably over 2022-2028 due to increased rate of routine immunizations.

In terms of disease, the market has been branched into hepatitis, DTP, cancer, pneumococcal disease, influenza, meningococcal disease, rotavirus, human papillomavirus, COVID-19, polio, and others. The vaccines market size from the cancer segment is projected to grow at around 10.5% CAGR through the analysis period. Growing R&D activities in the field of cancer vaccines are foreseen to propel segmental growth.

Based on technology, the market has been segregated into live, toxoid, recombinant, conjugate, inactivated, and others. In 2021, the live segment garnered over 8.1% market share and is set to witness substantial growth through 2028 on account of growing adoption of live attenuated vaccines in developed regions.

In the regional frame of reference, the Latin America vaccines market was valued at approximately USD 9.1 billion in 2021 as a result of increasing awareness about vaccination and growing demand for COVID vaccines across LATAM.