According to the latest report by IMARC Group, titled “Vaccine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global vaccine market size reached US$ 37 Billion in 2019. A vaccine refers to a biological preparation made using the weakened form of the disease-causing microorganism. It is injected to stimulate the production of antibodies against several pathogens present in the body. Moreover, it helps to prevent life-threatening diseases, such as polio, measles, diphtheria, meningitis, influenza, tetanus, rotavirus and hepatitis. Consequently, vaccines are increasingly being utilized in hospitals, clinics and vaccination centers worldwide. They are also widely adopted for research and development (R&D) purposes in academic setups and clinical laboratories across the globe.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
Global Vaccine Market Trends:
One of the leading trends witnessed in the global vaccines market is the surging cases of the coronavirus disease (COVID-19), which has, till date, resulted in the loss of around half a million lives around the world. As a result, several pharmaceutical companies are currently engaged in extensive research and development (R&D) activities to introduce a novel vaccine against the disease. Apart from this, the World Health Organization (WHO) is undertaking the initiative of increasing awareness about immunization through the Global Vaccine Action Plan (GVAP) and Global Immunization Vision and Strategy (GIVS). Moreover, the high prevalence of infectious diseases and R&D activities pertaining to the immunization of several fatal diseases, such as Acquired Immunodeficiency Syndrome (AIDS), Ebola, Hepatitis C and paratyphoid fever, are also propelling the market growth. Furthermore, the growing government support for vaccine development and the increasing involvement of global organizations in the development of adequate vaccination facilities in endemic regions is anticipated to positively influencing the sales of vaccines in the upcoming years. Looking forward, the market value is projected to reach US$ 57 Billion by 2025, expanding at a CAGR of 7.40% during the forecast period (2020-2025).
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Key Market Segmentation:
The competitive landscape of the market has been examined, with some of the key players being Abbott Laboratories, Astellas Pharma Inc., AstraZeneca Plc, Bharat Biotech International Limited, Bavarian Nordic A/S, CSL Limited, Daiichi Sankyo Company, Limited, Emergent BioSolutions Inc., GlaxoSmithKline Plc, Inovio Pharmaceuticals Inc., Johnson & Johnson, Inc., Merck & Co. Inc., Mitsubishi Tanabe Pharma Corporation (Mitsubishi Chemical Holdings Corporation), Novavax Inc., Panacea Biotec Ltd., Pfizer Inc., Sanofi Pasteur SA (Sanofi SA), Serum Institute of India Pvt. Ltd. and Takeda Pharmaceutical Company Limited.
Market Breakup by Technology:
1. Conjugate Vaccines
2. Inactivated and Subunit Vaccines
3. Live Attenuated Vaccines
4. Recombinant Vaccines
5. Toxoid Vaccines
Based on the technology, the market has been segmented into conjugate, inactivated and subunit, live attenuated, recombinant, toxoid, and others. The conjugate vaccine currently holds the largest market share.
Market Breakup by Patient Type:
On the basis of the patient type, the market has been bifurcated into pediatric and adult. At present, pediatric patients exhibit a clear dominance in the market.
Market Breakup by Indication:
1. Bacterial Diseases
(a). Meningococcal Disease
(b). Pneumococcal Disease
(c). Diphtheria/Tetanus/Pertussis (DPT)
(e). Haemophilus Influenzae (Hib)
2. Viral Diseases
(c). Human Papillomavirus (HPV)
(d). Measles/Mumps/Rubella (MMR)
(f). Herpes Zoster
(h). Japanese Encephalitis
The market has been analyzed on the basis of the indication into [meningococcal, pneumococcal, diphtheria/tetanus/pertussis (DPT), tuberculosis, Hemophilus influenzae (Hib), typhoid and others] and viral disease [hepatitis, influenza, human papillomavirus (HPV), measles/mumps/rubella (MMR), rotavirus, herpes zoster, varicella, Japanese encephalitis, rubella, polio, rabies, dengue and others].
Market Breakup by Route of Administration:
1. Intramuscular and Subcutaneous Administration
2. Oral Administration
Based on the route of administration, the market has been segregated into intramuscular and subcutaneous administration, oral administration and others. Intramuscular and subcutaneous administration holds the largest market share.
Market Breakup by Product Type:
1. Multivalent Vaccine
2. Monovalent Vaccine
On the basis of the product type, multivalent vaccines account for the majority of the total market share, followed by monovalent vaccines.
Market Breakup by Treatment Type:
1. Preventive Vaccine
2. Therapeutic Vaccine
The market has been analyzed on the basis of the treatment type into preventive and therapeutic vaccines. Preventive vaccines hold the biggest market share.
Market Breakup by End User:
3. Vaccination Centres
4. Academic and Research Institutes
Based on the end user, the market has been classified into hospitals, clinics, vaccination centers, academic and research institutes, and others. At present, hospitals exhibit a clear dominance in the market.
Market Breakup by Distribution Channel:
1. Hospital Pharmacies
2. Retail Pharmacies
3. Institutional Sales
On the basis of the distribution channel, the market has been divided into hospital pharmacies, retail pharmacies, institutional sales and others.
Market Breakup by Region:
1. North America
2. Asia Pacific
4. Latin America
5. Middle East and Africa
Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
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