Vaccines Market Overview and Introduction

Vaccines market is expected to be valued at US$ 36,297.2 Mn in 2019 and is anticipated to grow at a CAGR of 6.0% from 2019 to 2030.

Vaccines are biological preparations which are used to boost immunity by activating acquired immunity against a particular disease. Vaccines typically constitutes of agents resembling a disease-causing microorganism. It is fabricated from either a weakened or killed form of the microbe, its surface protein or toxins. The process of administration of vaccine is known as vaccination. The vaccination agent assists the body in recognizing the agent as a threat and destroys it. Moreover, it helps the body to recognize and destroy any microorganism associated with the agent for future encounters.

Rising incidences and prevalence of several diseases, namely hepatitis, tuberculosis, influenza and cholera is anticipated to ensure a strong demand for vaccination products worldwide. Similarly, growing support from both government and non-government establishments have been pivotal in contributing the growth of the global vaccines market. Moreover, growing initiatives to support immunization drives across developing economies, economies in transition and developed economies to control and eradicate vaccine-preventable diseases can primarily be attributed for the extensive adoption of vaccines globally. However, high costs associated with development, storage is likely to restrain the market to a certain extent.

Vaccines Market by Technology

On the basis of technology, the vaccines market can be segmented into conjugate vaccines, live attenuated vaccines, toxoid vaccines, inactivated and subunit vaccines and recombinant vaccines. The conjugate vaccine segment accounted for the largest market share in the global vaccines market, owing to rising company investments and growing government support for development of conjugate vaccines.

Vaccines Market by Strain/Serotype

On the basis of type, the market is segmented into monovalent vaccines and multivalent vaccines. In terms of market share, the segment of monovalent vaccines accounted for the largest share. Growing adoption of monovalent vaccines for combating single diseases, namely dengue, influenza and malaria among others can be attributed to the extensive growth of this segment.

Vaccines Market by Vaccine Type

Similarly, in terms of disease indication the vaccines market can be segmented into Hepatitis, DT containing (including Polio), Pneumococcal Conjugate Vaccine (PCV), Meningococcal, Human Papillomavirus (HPV), Rotavirus, Influenza, Measles, Mumps, Rubella, Varicella, BCG, Cholera, IPV (Inactivated Polio Vaccine), OPV (Oral Poliovirus Vaccines), JE (Japanese Encephalitis), YF (Yellow Fever), Shingles, Typhoid, Rabies and other vaccine types

Vaccines Market by Route of Administration

Whereas, the route of administration segment can be classified broadly into three categories, namely oral administration, intramuscular and subcutaneous administration and other routes of administrations. Finally, based on end user the global vaccines market can be segmented into pediatric patients and adult patients.

Vaccines Market by Patient Type

The segment of patient type can be broadly classified into pediatrics and adults. Widescale administraion of different types of vaccines among pediatric population, and active participation of both public & private establishments to carry out vaccine initiaves is anticipated to contribute significantly to the growth of the segment in the coming years.

Vaccines Market by Region

The global vaccines market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of vaccines market, followed by Europe and Asia Pacific. Asia Pacific is expected to dominate the global vaccines market in the forecast period. Factors such as the increasing investments by market players in emerging economies, rising incidence of diseases, and growing awareness regarding vaccinations to drive market growth in this region

Vaccines Market Prominent Players

The prominent players in the global vaccines market are Pfizer Inc., GlaxoSmithKline plc., Merck & Co., Inc., Sanofi Pasteur Limited (Sanofi), AstraZeneca, CSL Limited, Bavarian Nordic, Panacea Biotec Limited, PT Bio Farma (Persero) and Serum Institute of India Pvt. Ltd. among others