Vaccine Market Trend- High Focus on Developing and Increasing the Supply of COVID-19 Vaccine
Increasing prevalence of infectious diseases across the globe, rising need for effective vaccination against coronavirus, and growing investments for development of novel vaccines are some key factors expected to drive global Vaccine market.
According to Emergen Research, the global vaccine market size was USD 44.82 billion in 2020 and is expected to reach USD 77.90 billion in 2028 and register a steady revenue CAGR of 7.1% during the forecast period, 2021-2028.
A vaccine is a biological preparation that aids in providing active acquired immunity against a particular infectious disease. It contains an agent, resembling the disease causing microorganism made from killed or weakened forms of microbes, toxins, or its surface protein. Vaccination plays a crucial role in maintaining the sustainable health of people across the globe. These vaccines are administered to people of all age groups to enhance their immunity and protect them against diseases. Governments also play an important role in vaccinating people by organizing vaccination drives periodically.
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Factors such as increasing funding by public and private organizations for developing vaccines, rising incidence of cancer and HIV in many parts of the world, and rising public awareness are expected to drive global market revenue growth during the forecast period.
However, high costs required for vaccine storage and transport, rising hurdles in the drug development procedures, and low awareness about importance of vaccination in many developing and underdeveloped are some key factors expected to restrain overall vaccine market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Pediatric Segment to Account for Largest Revenue Share:
The pediatric segment is expected to account for largest revenue share during the forecast period owing to increasing risks of infectious diseases across the globe, government mandates to vaccinate children against susceptible infectious diseases such as measles, hepatitis, tuberculosis, and cholera, and increasing investments for developing more effective vaccines.
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Conjugate Segment To Register Rapid Revenue CAGR:
The conjugate segment is expected to register rapid revenue CAGR between 2021 and 2028. This can be attributed to increasing prevalence of infectious diseases, rising government initiatives to support conjugate vaccine research, and increasing investments in R&D activities.
North America to Lead In Terms of Revenue Share:
North America is expected to dominate other regional markets in terms of revenue share over the forecast period owing to increasing prevalence of infectious diseases, presence of well-developed healthcare infrastructure and research facilities, and rising awareness about preventable medicines. In addition, presence of leading companies, government initiatives to promote vaccination drives, ongoing research on various vaccines, and rising investments in research and development activities are expected to drive North America market growth during the forecast period.
Major Companies in the Market Include:
- Pfizer, Inc.
- CSL Limited
- Merck & Co., Inc.
- Johnson & Johnson
- Serum Institute of India Pvt., Ltd.
- GlaxoSmithKline PLC
- Sanofi Pasteur SA
- Emergent BioSolutions, Inc.
- Biological E
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For the purpose of this report, Emergen Research has segmented the global vaccine market on the basis of type, patient type, technology, disease, route of administration, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Monovalent Vaccines
- Multivalent Vaccines
Patient Type Outlook (Revenue, USD Billion; 2018-2028)
- Pediatric Patients
- Adult Patients
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Inactivated & Subunit Vaccines
- Conjugate Vaccines
- Recombinant Vaccines
- Live Attenuated Vaccines
- Toxoid Vaccines
Disease Outlook (Revenue, USD Billion; 2018-2028)
- Pneumococcal Disease
- Meningococcal Disease
- Herpes Zoster
Route of Administration Outlook (Revenue, USD Billion; 2018-2028)
- Oral Administration
- Intramuscular and Subcutaneous Administration
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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