Global Vaccine Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis

Global Vaccine Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis

Global Vaccine Market size is anticipated to reach US$ 92.32 Billion by 2028, according to Renub Research. There has been substantial progress in the availability of critical public health vaccinations during the previous two decades. New vaccinations have been developed and distributed globally, saving many lives and preventing illness. However, a thorough examination of the global vaccination business indicates significant impediments that continue to exist. Biological preparations known as vaccine give recipients active acquired immunity to infectious illnesses. They encourage the immune system to generate antibodies that will defend against upcoming infections. Vaccine prevent diseases like MMR, control contagion, eradicate smallpox, and save lives.

The use of vaccinations in the treatment and prevention of infectious illnesses has many benefits. Immunization prevents disease spread, protecting vaccinated and unvaccinated individuals. Studies confirm vaccine' reliability, safety, and efficacy. Immunization costs less than treating preventable diseases, making it a cost-effective public health strategy.

Global vaccine market is projected to grow at a CAGR of 8.64% between 2022 and 2028.

Vaccine remain the most effective method for preventing prevalent infectious diseases worldwide. In the United States, the incidence of influenza fluctuates annually, with approximately 38 million cases, 480,000 hospitalizations, and 34,000 deaths reported in 2022. Normally, 10% to 15% of the population is affected by the flu, but more severe seasons can lead to higher infection rates.

Vaccine technology has evolved, driven by the need for faster response and improved efficacy. Genetic engineering has enabled the development of new vaccine, including attenuated virus vaccine. Rapid detection and high concentration levels are achieved through advanced technologies. Innovation focuses on challenging targets, enhanced delivery systems, synthetic candidates, genomic analysis, antigen design, and nanoparticle delivery. These advancements revolutionize vaccine development for quicker deployment and increased effectiveness. However, vaccine development is a lengthy, complex, and expensive process lasting 10-15 years, influenced by variations in materials, equipment, and regulatory requirements, restricting market growth. As a result, the value of the global vaccine market was US$ 56.16 Billion in 2022.

Pneumococcal vaccine has a high share in the global vaccine market due to disease prevalence and emerging market demand

Vaccine market share shows that influenza, HPV, Zoster, MMR, Pneumococcal, Meningococcal, Hepatitis, DTap/Tdap, Travel & Miscellaneous, HIB, Combos, Polio, Rotavirus, and Varicella segments make up the majority of the global vaccine market.

Pneumococcal illness is a deadly global hazard caused by Streptococcus pneumonia but can be prevented with vaccinations. Particularly pneumococcal conjugate vaccination (PCV13) for young children, they are commonly used. In areas with limited vaccine access, the demand for pneumococcal vaccine is rising. Their significant market share is driven by new discoveries, growing awareness, and improved accessibility.

United States is expected to continue to dominate the global vaccination industry in the years to come

By country, the global vaccine market is divided into the United States, Canada, Mexico, United Kingdom, Germany, France, Russia, Italy, Spain, Switzerland, India, China, Japan, Australia, South Korea, Brazil, Argentina, Saudi Arabia, UAE, South Africa, and Rest of the World. The United States, with its robust pharmaceutical industry and leading vaccine manufacturers, including Pfizer, Merck, and Johnson & Johnson, holds a dominant position in the global vaccine market.

The country strong regulatory framework ensures the safety and efficacy of vaccine, fostering public trust and high coverage rates. The large and diverse population creates a substantial demand for vaccine, while supportive government policies provide financial backing for research, development, procurement, and distribution. The United States leads the world vaccination industry due to early investments in vaccine research, a strong public health system, and a supportive regulatory framework.

Influenza vaccine lead to vaccinated people share in the global vaccine market

Influenza, Cervical Cancer, Zoster, MMR, Pneumococcal, Meningococcal, Hepatitis, DTap/Tdap, HIB, Combos, Polio, Rotavirus, and Varicella are among the vaccine that make up the majority of the world vaccine market by number of persons who have received them. Influenza is a deadly respiratory infection, but vaccine reduce illness risk by 40% to 60% globally, including in the US. Emerging markets exhibit a growing demand for influenza vaccine due to high prevalence and limited access to vaccine. These factors contribute to the expected high market share of influenza vaccine in the global vaccine market. The seasonal nature of influenza also aids in vaccination planning, government mandates increase vaccination rates, and increasing public awareness of the importance of influenza vaccination drives demand for these vaccine.

Combo vaccine, which combine multiple vaccine into a single shot. Combo vaccine offer the convenience of a single shot for patients and healthcare providers while providing effective protection against a wider range of pathogens. They are generally safe, with risks of side effects similar to separate vaccine. Combo vaccine can save on administration costs and the need for multiple doses, making them more cost-effective. The growth of combo vaccine is supported by government initiatives, rising awareness of vaccination benefits, and advancements in vaccine technology, leading to improved and more accessible options for protecting against multiple diseases.

Pediatric vaccine grow in the global vaccine market due to childhood diseases and their prevention effectiveness

Adult and Pediatric are the types constituting the global vaccine market. Pediatric vaccinations, including MMR, prevent serious illnesses and save lives. With recommendations from health agencies like the CDC in the US, these vaccine are extensively used throughout the world. In emerging areas where there is limited access to vaccine yet a high prevalence of children's diseases, there is an increasing demand for pediatric vaccine. New pediatric vaccine, growing vaccination awareness, and improved global immunization access contribute to higher childhood immunization rates, driving the market share of pediatric vaccine.

Global vaccine market is anticipated to continue to be dominated by Pediatric Vaccine

Adult and pediatric are the two categories in the global vaccine market. Worldwide, pediatric vaccine are crucial in preventing prevalent childhood diseases. For instance, measles, mumps, and rubella (MMR) can have severe consequences. Pediatric vaccine have high efficacy rates, such as the 97% effectiveness of the MMR vaccine. They are widely used, and experience growing demand, particularly in emerging markets with limited vaccine access. The development of new vaccine broadens protection against childhood diseases. Increasing awareness of vaccination importance and improved vaccine accessibility contribute to their global vaccine market features and trends growth. Governments often mandate pediatric vaccine due to the higher transmission risk and impact on children's health, further emphasizing their importance.

Key Players

GlaxoSmithKline plc, AstraZeneca plc, Sanofi Pasteur, Pfizer Inc., and CSL Limited are some of the top companies competing in the global vaccine market. Market demand, R&D, patent protection, pricing, regulatory approvals, manufacturing capabilities, and global expansion drive competition among vaccine companies to meet needs, innovate, gain exclusivity, attract customers, ensure quality, and expand market reach.

In January 2022- In order to assess the safety, immunogenicity, and tolerability of a potential Omicron-based vaccination in adults between the ages of 18 and 55, Pfizer Inc. and BioNTech SE started a clinical trial.

Renub Research latest report “Global Vaccine Market, Vaccine Market Share (Influenza, HPV, Zoster, MMR, Pneumococcal, Meningococcal, Hepatitis, DTap/Tdap, Travel & Miscellaneous, HIB, Combos, Polio, Rotavirus, and Varicella), Country (United States, Canada, United Kingdom, Germany, France, Russia, Italy, Spain, Switzerland, India, China, Japan, Australia, South Korea, Mexico, Brazil, Argentina, Saudi Arabia, UAE, South Africa, and Rest of the World), Vaccinated People (Influenza, Cervical Cancer, Zoster, MMR, Pneumococcal, Meningococcal, Hepatitis, DTap/Tdap, HIB, Combos, Polio, Rotavirus, and Varicella), Categories (Adult, and pediatric), Companies (GlaxoSmithKline plc, AstraZeneca plc, Sanofi Pasteur, Pfizer Inc., and CSL Limited)” provides a detailed analysis of Global Vaccine Market.

Vaccine Market Share – Global Vaccine Market has been covered from 14 viewpoints:

1. Influenza
2. HPV
3. Zoster
4. MMR
5. Pneumococcal
6. Meningococcal
7. Hepatitis
8. DTap/Tdap
9. Travel & Miscellaneous
10. HIB
11. Combos
12. Polio
13. Rotavirus
14. Varicella

Country – Global Vaccine Market has been covered from 21 viewpoints:

1. North America

1.1 United States
1.2 Canada

2. Europe

2.1 United Kingdom
2.2 Germany
2.3 France
2.4 Russia
2.5 Italy
2.6 Spain
2.7 Switzerland

3. Asia Pacific

3.1 India
3.2 China
3.3 Japan
3.4 Australia
3.5 South Korea

4. Latin America

4.1 Mexico
4.2 Brazil
4.3 Argentina

5. Middle East & Africa

5.1 Saudi Arabia
5.2 UAE
5.3 South Africa

6. Rest of the World

Vaccinated People – Global Vaccine Market has been covered from 13 viewpoints:

1. Influenza
2. Cervical Cancer
3. Zoster
4. MMR
5. Pneumococcal
6. Meningococcal
7. Hepatitis
8. DTap/Tdap
9. HIB
10. Combos
11. Polio
12. Rotavirus
13. Varicella

Category – Global Vaccine Market has been covered from 2 viewpoints:

1. Adult
2. Pediatric

Company Insights:

• Oveview
• Recent Development and Initiatives
• Sales Analysis

Company Analysis:

1. GlaxoSmithKline plc
2. AstraZeneca plc
3. Sanofi Pasteur
4. Pfizer Inc.
5. CSL Limited