Vaccines Market Worth $62.2 Billion by 2027
21 Feb 2020 • by Natalie Aster
Meticulous Research published a research report titled “Vaccines Market by Indication (Influenza, Rotavirus, DTP Vaccines), Route of Administration (Intramuscular, Subcutaneous, Oral), Type/Antigen (Conjugate Vaccine, Live Attenuated Vaccine), Valence (Multivalent, Monovalent Vaccines) - Forecast to 2027”. According to this latest publication from Meticulous Research®, the global vaccines market is expected to grow at a CAGR of 5.2% from 2019 to reach to $62.2 billion by 2027. The growth of the overall vaccines market is mainly attributed to the strong pipeline for vaccines, increasing government focus on immunization programs, and technological progress in vaccine administration. Increasing epidemic potentials, growing focus on therapeutic vaccines, and emerging markets offer significant growth opportunities for the players operating in this market. However, longer timelines and high cost of vaccines development are the key factors expected to hinder the adoption of vaccines over the coming years.
The global vaccines market study presents historical market data in terms of values (2017 & 2018), estimated current data (2019), and forecasts for 2027- by indication (pneumococcal disease, influenza, Human Papilloma Virus (HPV), DTP, meningococcal disease, rotavirus, poliomyelitis, MMR, hepatitis, and others), route of administration (intramuscular, subcutaneous, oral, others), antigen type (subunit & conjugate, inactivated, live-attenuated, toxoid, combination ), valence (multivalent, monovalent), and geography. The study also evaluates industry competitors and analyzes the market at a regional and country level.
On the basis of indication, the pneumococcal disease segment accounted for the largest share of the overall vaccines market in 2019. The large share of this segment is mainly attributed to the factors such as rising incidence of pneumococcal diseases like pneumonia, meningitis, febrile bacteraemia, otitis media, and initiatives by government organizations and private sectors to prevent and control outbreak of pneumococcal diseases. On the other hand, human papilloma virus segment is slated to grow at fastest CAGR due to increasing incidences for cervical cancers, high demand from emerging economies, and improvement in vaccination coverage rates for HPV.
On the basis of route of administration of vaccines, intramuscular route accounted for the largest share of the overall vaccines market in 2019 due to its easy accessibility, unaided administration, larger muscle capacity, and precise control of dose and administration rate. On the other hand, subcutaneous vaccines segment is slated to grow at the fastest CAGR mainly due to elicitation of better immune response and sustained absorption with high effectivity.
On the basis of antigen, subunit or conjugate vaccines segment accounted for the largest share of the overall vaccines market in 2019. Low risk of disease occurrence, long-term immunity, and high stability as compared to other antigens are the major factors attributing to the largest share of subunit vaccines market. On the other hand, inactivated vaccines are slated to grow at the fastest CAGR due to their non-infectious nature, can be given to immunocompromised patients, and ease in storage.
On the basis of valence, multivalent vaccines segment accounted for the largest share of the overall vaccines market in 2019 and is slated to grow at the fastest CAGR during the forecast period. New product launches and increasing focus and investment of key players to produce multivalent vaccines are the key factors attributing to the largest share of multivalent vaccines.
This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America, and the Middle East & Africa. North America commanded the largest share of the global vaccines market in 2019, followed by Europe and Asia Pacific. The increasing efforts by the governments and companies to mandate vaccination in the North American region as well development of new vaccines is accelerating the vaccines market in the North American region. However, Asia Pacific region is expected to grow at the fastest CAGR during the forecast period due to large population of patients, establishment of vaccine production facilities, and increasing investments by the major players in this region. In addition, increasing disposable income and growing awareness about health in emerging countries further support the market growth.
The key players operating in the global vaccines market are Sanofi (France), Merck & Co., Inc. (U.S.), GlaxoSmithKline plc (U.K.), Pfizer Inc. (U.S.), Johnson & Johnson (U.S.), Daiichi Sankyo Co., Ltd. (Japan), Takeda Pharmaceutical Company Limited (Japan), CSL Limited (Australia), Emergent BioSolutions Inc. (U.S.), and AstraZeneca (U.K.) among others.
More in-demand research reports by this publisher can be found in the Meticulous Market Research catalogue at MarketPublishers.com.