“The vaccines market is projected to grow at a CAGR of 7.0% during the forecast period (2019–2024).”
The global vaccines market is projected to reach USD 58.4 billion by 2024 from USD 41.7 billion in 2019, at a CAGR of 7.0% during the forecast period. The key factors driving the growth of this market include the high prevalence of infectious diseases, growing support for vaccine R&D, investments in vaccine development, and rising focus on immunization. However, the huge capital investments required for developing vaccines may restrain market growth.
“The pneumococcal disease segment will continue to dominate the vaccines market during the forecast period.”
On the basis of disease indication, the vaccines market is segmented into pneumococcal disease, influenza, DTP, hepatitis, human papillomavirus (HPV), rotavirus, meningococcal disease, MMR (measles, mumps, and rubella), varicella, polio, herpes zoster, and other disease indications. The pneumococcal disease segment accounted for the largest share of the vaccines market in 2018. The large share of this segment can be attributed to the high incidence of pneumococcal disease and increasing government investments in pneumococcal vaccination programs.
“By type, the monovalent vaccines segment accounted for the larger share of the vaccines market in 2019.”
On the basis of type, the vaccines market is segmented into monovalent and multivalent vaccines. The monovalent vaccines segment accounted for the largest share of the vaccines market in 2018. The large share of this segment can be attributed to the rising prevalence of diseases and increasing government & non-government initiatives to promote immunization.
“The market in Asia is projected to witness the highest growth rate during the forecast period (2019–2024).”
Asia is projected to register the highest growth during the forecast period. Growing company investments in Asian countries and rising government support for vaccine development are some of the key factors supporting the growth of the vaccines market in Asia.
A breakdown of the primary participants referred to for this report is provided below:
- By Company Type: Tier 1: 47%, Tier 2: 26%, and Tier 3: 27%
- By Designation: C-level: 33%, Director-level: 21%, and Others: 46%
- By Region: North America: 36%, Europe: 31%, Asia: 16%, and the RoW: 17%
GlaxoSmithKline plc (UK), Pfizer, Inc. (US), Sanofi Pasteur (France), and Merck & Co., Inc. (US) are the leading players in the global vaccines market. Other notable players in this market include CSL Limited (Australia), Emergent BioSolutions, Inc. (US), Johnson & Johnson (US), AstraZeneca (UK), Serum Institute of India Pvt. Ltd. (India), Bavarian Nordic (Denmark), Mitsubishi Tanabe Pharma Corporation (Japan), Daiichi Sankyo (Japan), Panacea Biotec (India), Biological E (India), Bharat Biotech (India), Sinovac Biotech Ltd (China), Incepta Vaccine LTD. (Bangladesh), Valneva SE (France), VBI Vaccines Inc. (US), and Bio Farma (Brazil).
The report analyzes the vaccines market and aims at estimating the market size and future growth potential of this market based on various segments such as technology, type, disease indication, route of administration, patient type, and region. The report also includes competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.
Reasons To Buy the Report
The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one, or a combination of the below mentioned five strategies.
This report provides insights into the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the vaccines market. The report analyzes the market based on technology, type, disease indication, route of administration, patient type, and region.
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the vaccines market.
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various types of vaccines across regions.
- Market Diversification: Exhaustive information about products, untapped regions, recent developments, and investments in the vaccines market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the vaccines market.