New York, June 02, 2021 (GLOBE NEWSWIRE) – Market size – $ 42 billion in 2020 Market growth – 7.3% Market trends – Expansion of the pharmaceutical industry and desire to vaccinate everything
The global vaccine market size is expected to reach $ 73.78 billion in 2028, registering a CAGR of 7.3% over the forecast period, according to the latest report from Reports and Data. The major factors driving the market revenue growth are the increasing prevalence of infectious diseases, increasing public funding for vaccine production, and increasing emphasis on vaccination.
Immunization is a global health and growth success story, saving millions of lives every year. Vaccines minimize the risk of a human body contracting disease by strengthening its natural defenses. More than 20 deadly diseases can now be prevented with vaccination, enabling people of all ages to live longer and healthier lives. Each year, vaccines prevent 2-3 million deaths from diseases such as diphtheria, tetanus, whooping cough, influenza and measles.
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Increased efforts to immunize all children and all adults would stimulate the growth of the vaccine market. Immunization is an indisputable human right and an essential component of primary health care. Over a billion children have been immunized over the past decade. Vaccines are also essential for preventing and controlling outbreaks of infectious diseases. They help fight antimicrobial resistance and underpin global health security. The Global Vaccine Action Plan (GVAP), which was endorsed by the 194 member states of the World Health Assembly in May 2012, is a mechanism to prevent millions of deaths by 2020 by providing equal access to current vaccines to people from all walks of life. .
The coronavirus infection has recently infected millions of people around the world. In some areas, community transmission has led to an increase in the number of victims. Biopharmaceutical and biotechnology companies have successfully brought to market an effective vaccine against the virus that causes SARS-Cov-2 in 2021. The COVID-19 pandemic has generated unprecedented demand and companies are investing heavily in the activities of R&D with governments around the world to meet growing demand. request for vaccines. The growth prospects of the market will be enhanced by the expansion of manufacturing facilities to meet growing demand.
Despite significant progress, a variety of people around the world still do not have access to vaccines, including nearly 20 million babies per year. Progress has slowed or even reversed in some countries, and there is a real danger that appeasement will undo previous achievements. In addition, the high costs of storing and transporting vaccines can stifle market supply to some extent. These factors are expected to hamper the market revenue growth to some extent during the forecast period.
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Some highlights of the report:
- The conjugate vaccine segment held the largest share of the vaccine market in 2020. The increase in public funding and the growing investments by companies in the production of conjugate vaccines may be due to the large share of this segment.
- Due to growing concerns for vaccination against a number of predominant infectious diseases, which are the leading causes of mortality and morbidity, most disease indication segments have experienced considerable growth.
- The intramuscular and subcutaneous administration segment accounted for the largest share of the vaccine market revenue in 2020.
- The pediatric patient segment accounted for the largest revenue share among other patient type segments in 2020.
- In 2020, North America held the largest share of the vaccine industry. North America’s substantial share of the global vaccine market can be attributed to increased public awareness of the risks of infectious diseases, as well as increased government and non-government spending on production and widespread distribution. vaccines.
- The fastest growth is expected in the Asia-Pacific region during the forecast period, due to a growing target population with high unmet clinical needs.
The major players in the global vaccine market are:
- GlaxoSmithKline plc
- Pfizer, Inc
- Merck & Co., Inc.
- Sanofi Pasteur
- CSL Limited
- Emergent BioSolutions, Inc.
- Johnson & johnson
- Serum Institute of India
- Bavarian Nordic
- Mitsubishi Tanabe Pharma Corporation
- Daiichi Sankyo Company, Limited.
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Segments covered in the report
For the purpose of this study, Reports and Data segmented the global vaccine market on the basis of technology, type, disease indication, route of administration, patient type, and region:
Technology Outlook (Revenue, Billions USD, 2018 – 2028)
- Conjugate vaccines
- Inactivated and subunit vaccines
- Live attenuated vaccines
- Recombinant vaccines
- Toxoid vaccines
Type Outlook (Revenue, Billions USD, 2018 – 2028)
- Monovalent vaccines
- Multivalent vaccines
Indication of disease Outlook (Revenue, Billions USD, 2018 – 2028)
- Pneumococcal disease
- Meningococcal disease
- Other indications of illness
Route of administration Outlook (Revenue, Billions USD, 2018 – 2028)
- Intramuscular and subcutaneous administration
- Oral administration
- Other routes of administration
Patient type Outlook (Revenue, Billions USD, 2018 – 2028)
- Pediatric patients
- Adult patients
Regional outlook (revenue, billion USD, 2018 – 2028)
- North America
- Great Britain
- The rest of europe
- Asia Pacific
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- South Africa
- Saudi Arabia
- Rest of the MEA
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