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| Vaccines Market |
According to this latest publication from Meticulous Research®, the global vaccines market is expected to reach $57,501.8 million by 2025 at a CAGR of 7.9%. The growth of this market is mainly attributed to high prevalence of diseases, increasing government initiatives towards immunization, rising adoption of vaccines, technological advancement in vaccine industry, and strong pipeline for vaccines. However, factors such as high cost associated with vaccine development, stringent regulations and longer timeline for vaccine development, and product recall are expected to hinder the growth of this market to a certain extent. Increasing epidemic potentials and growing focus on therapeutic vaccines are expected to offer significant growth opportunities for players operating in the vaccines market. On the other hand, new product development cycle for vaccines and need for more training dedicated to vaccinology pose a major challenge for vaccine industry.
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The global vaccines market study presents historical market data in terms of values (2016 and 2017), estimated current data (2018), and forecasts for 2025-by Indication (Pneumococcal, Influenza, DTP, HPV, Hepatitis, Meningococcal, Rotavirus, Polio, MMR), by route of administration (Intramuscular (IM), Subcutaneous (SC/SQ), Oral, and others), by type (Subunit, recombinant, polysaccharide, and conjugate vaccines, inactivated vaccines, live-attenuated vaccines, and toxoid vaccines), and by valence (Monovalent and Multivalent). The study also evaluates industry competitors and analyzes the market at regional and country level.
In 2017, the pneumococcal disease accounted for the largest share of the global vaccines market. The large share of this segment is mainly attributed to the high prevalence of pneumococcal disease in pediatric, elderly, and immunocompromised populations. In addition, growing number of pneumococcal diseases associated with chronic disease patients is further driving the adoption of pneumococcal vaccines. However, meningococcal disease vaccine segment is expected to grow at the highest CAGR in the next 5-7 years.
Route of administration is the lane by which a vaccine is brought into contact with the body. Vaccines are administered through Intramuscular (IM), Subcutaneous (SC/SQ), oral, and other routes of administration (Intradermal and Nasal). The intramuscular accounted for the largest share of the vaccines market. The large share of this segment is mainly due to the availability of wide range of vaccines for IM.
Subunit, recombinant, polysaccharide, and conjugate vaccines accounted for the largest share of the vaccines market. The large share of this segment is mainly attributed to increasing focus of companies towards recombinant and conjugate vaccines, growing prevalence of diseases, and increasing government initiatives.
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This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Spain, France, Italy, Germany, U.K., and RoE), Asia-Pacific (China, India, Japan, and RoAPAC), Latin America, and Middle East & Africa. North America accounted for the largest share of the vaccines market with its well-established vaccination program. In addition, factors such as the increasing prevalence of diseases, growing adoption of advanced vaccines, and large pool of key players are further expected to propel the growth of vaccines market in this region.
The Asia-Pacific vaccines market is expected to grow at the highest CAGR of 8.9%. The growth in the APAC market is mainly attributed to large patient pool, rising prevalence of diseases, growing awareness on vaccination, increasing government initiatives, and expanding presence of key players in this region. In addition, increasing disposable income and growing awareness about heath in emerging countries are further propelling the demand for vaccines in APAC region.
The major players operating in the global vaccines market are GSK, Merck & Co., Inc., Pfizer, Sanofi, CSL Limited, Emergent Biosolutions, Johnson and Johnson, Serum Institute of India, Daiichi Sankyo, Takeda, and AstraZeneca among many others.
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Key questions answered in the report:
- Which are the high growth market segments in terms of indication, route of administration, type, valence, and region/countries?
- What was the historical market for vaccines across the globe?
- What are the market forecasts and estimates for the period 2018-2025?
- What are the major drivers, restraints, opportunities, and challenges in the global vaccines market?
- Who are the major players in the global vaccines market?
- How is the competitive landscape and who are the market leaders in the global vaccines market?
- What are the recent developments in the global vaccines market?
- What are the different strategies adopted by the major players in the global vaccines market?
- What are the geographical trends and high growth regions/ countries?
- Who are the local emerging players in the global vaccines market and how do they compete with the global players?
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