The global vaccines market size is expected to reach USD 73.78 billion by 2028, registering a CAGR of 7.3% over the forecast period, according to the latest report by Reports and Data. Major factors driving market revenue growth are rising prevalence of infectious diseases, increasing government funding for vaccine production, and growing emphasis on immunization.
Immunization is a public health and development success storey that saves millions of lives each year. By bolstering the body's natural defences, vaccines reduce the chances of developing a disease. Vaccination helps avoid over 20 life-threatening diseases, helping people of all ages to live longer, healthier lives. Vaccines save lives of 2-3 million people per year from diseases such as diphtheria, tetanus, pertussis, influenza, and measles.
Immunization is a basic human right and an essential component of primary health care. Over the past decade, more than 1 billion children have been vaccinated. Vaccines are essential for preventing and managing outbreaks of infectious diseases. They're crucial in battle against antimicrobial resistance, and for global health protection. The Global Vaccine Action Plan (GVAP), which was endorsed by the 194 Member States of the World Health Assembly in May 2012, is a framework for avoiding millions of deaths by 2020 by ensuring that people from all walks of life have equal access to current vaccines.
Millions of people worldwide have recently been infected with the COVID-19 disease. Community transmission has resulted in rising fatalities in some regions. In 2021, biopharmaceutical and biotech companies succeeded in bringing to market an effective vaccine against the virus that causes SARS-Cov-2. The coronavirus outbreak has sparked unprecedented demand and businesses are investing heavily in R&D activities along with government to meet the growing demand for COVID-19 vaccines. This is expected to boost the market's growth prospects.
Despite tremendous progress, various people around the world, including nearly 20 million babies last year, still lack access to vaccines. In some countries, progress has stalled or even reversed, and there is a real risk that complacency will undo previous achievements. Furthermore, high storage and transportation costs for vaccines can stifle market supply. These factors are expected to hamper the revenue growth of the vaccines market to a certain extent going ahead.
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The report provides a panoramic view of the market and insights that will help formulate better business decisions. In addition to that, the study helps well-established companies and players gain a deeper understanding of the market and make informed decisions. The report also discusses in detail about the key factors influencing the market growth.
Key companies operating in the market include:
GlaxoSmithKline plc, Pfizer, Inc, Merck & Co., Inc. and Sanofi Pasteur, CSL Limited, Emergent BioSolutions, Inc., Johnson & Johnson, Serum Institute of India, AstraZeneca, Bavarian Nordic , Mitsubishi Tanabe Pharma Corporation, and Daiichi Sankyo Company, Limited.
The report covers an extensive analysis of the key market players in the market along with their business overview, expansion plans, and strategies. The report also focuses on recent strategic alliances in the market including mergers and acquisitions, joint ventures, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others.
The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global Vaccines market is further segmented on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report also offers a country-wise analysis to provide crucial insights into market size, market growth, market revenue growth, and economic growth in each region.
On basis of product types and application offered by the Vaccines industry, the market is segmented into:
Technology Outlook (Revenue, USD Billion, 2018 - 2028)
- Conjugate vaccines
- Inactivated and subunit vaccines
- Live attenuated vaccines
- Recombinant vaccines
- Toxoid vaccines
Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Monovalent vaccines
- Multivalent vaccines
Disease Indication Outlook (Revenue, USD Billion, 2018 - 2028)
- Pneumococcal disease
- DTP
- Influenza
- HPV
- Meningococcal disease
- Polio
- Rotavirus
- Hepatitis
- MMR
- Varicella
- Herpes zoster
- Other disease indications
Route of Administration Outlook (Revenue, USD Billion, 2018 - 2028)
- Intramuscular and subcutaneous administration
- Oral administration
- Other routes of administration
Patient Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Pediatric patients
- Adult patients
The regional analysis covers:
- North America
- US.
- Canada
- Mexico
- Europe
- Germany
- UK.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- A.E.
- South Africa
- Rest of MEA
Benefits of Vaccines Market Report:
- Panoramic overview of the opportunities and risks in the Vaccines sector
- Study of recent innovations and developments in the industry
- Comprehensive study of the growth pattern of the Vaccines industry
- In-depth assessment of the competitive landscape of the key players of the Vaccines industry
- Analysis of the Vaccines market drivers, constraints, and opportunities
- Assessment of technological developments and latest trends of the industry
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