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Meticulous Research®—leading global market research company published a research report titled “Vaccines Market By Indication (Influenza, Rotavirus, DTP, COVID-19), Route of Administration (Intramuscular, Subcutaneous, Oral), Type/Antigen (Conjugate Vaccines, Live Attenuated Vaccines), and Valence (Multivalent, Monovalent Vaccines)—Forecast to 2027”.
According to this latest publication from Meticulous Research®, the vaccines market is expected to record a CAGR of 12.5% from 2020 to 2027 to reach $108.02 billion by 2027. The growth of the vaccines market is mainly attributed to the high prevalence of diseases, increasing government initiatives towards immunization, technological advancements in vaccine production, the strong pipeline for vaccines globally, and the emergence of the COVID-19 pandemic. In addition, the increasing epidemic potential, growing focus on therapeutic vaccines, and emerging markets are expected to offer significant growth opportunities for players operating in the vaccines market. However, product recalls and inadequate access to vaccines are key factors expected to hinder the growth of the vaccines market.
Vaccines Market: Future Outlook
The vaccines market study presents historical market data in terms of values (2018 and 2019), estimated current data (2020), and forecasts for 2027—by indication (influenza, rotavirus, DTP, COVID-19), route of administration (intramuscular, subcutaneous, oral), type/antigen (conjugate vaccines, live attenuated vaccines), valence (multivalent vaccines, monovalent vaccines), and geography. The study also evaluates industry competitors and analyzes their market shares at the global and regional levels.
Based on disease indication, the vaccines market is segmented into ten major categories, namely, pneumococcal diseases, influenza, DTP, HPV, meningococcal disease, polio, MMR, rotavirus, hepatitis, COVID-19, and other indications, which include varicella, herpes zoster, chlorella, and rabies. In 2020, the pneumococcal diseases segment is estimated to account for the largest share of the vaccines market due to factors such as the increasing prevalence of pneumococcal diseases like pneumonia, meningitis, febrile bacteremia, otitis media, and sinusitis; the development of quality vaccines such as PPSV23; and initiatives by government organizations to control outbreaks of pneumococcal diseases.
Based on the route of administration, the intramuscular segment is estimated to account for the largest share of the vaccines market in 2020 due to the vaccines’ easy administration and quick absorption. However, the subcutaneous segment is expected to record the highest CAGR during the forecast period. The growth of this segment is driven by factors such as no requirement of trained professionals, improved adsorption of the vaccines, and the availability of multiple dosing sites.
Based on type/antigen, the vaccines market is categorized into five major segments—live attenuated vaccines, inactivated vaccines, subunit and conjugate vaccines, toxoid vaccines, and combination vaccines. In 2020, the subunit and conjugate vaccines segment is estimated to account for the largest share of the vaccines market due to the vaccines’ ability to induce long-term immunity and their higher safety and stability compared to other antigens.
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This research report evaluates major geographies and provides a comprehensive analysis for North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and the Middle East & Africa. North America is estimated to command the largest share of the vaccines market in 2020, followed by Europe and Asia-Pacific. However, Asia-Pacific is expected to register the highest CAGR during the forecast period. The growth of the APAC market is expected to be driven by factors such as the emergence of infectious diseases, the large population of patients suffering from diseases, rising public awareness regarding the importance of vaccination, and government support towards immunization.
The key players operating in the vaccines market are Sanofi (France), Merck & Co., Inc. (U.S.), GlaxoSmithKline plc (U.K.), Pfizer Inc. (U.S.), Johnson & Johnson (U.S.), Daiichi Sankyo Co., Ltd. (Japan), Takeda Pharmaceutical Company Limited (Japan), CSL Limited (Australia), Emergent BioSolutions Inc. (U.S.), and AstraZeneca PLC (U.K.), among others.
Key Questions Answered in the Report
- Which are the high-growth market segments in terms of indication, route of administration, type/antigen, valence, and region/country?
- What was the historical market size for vaccines globally?
- What are the market forecasts and estimates for the period 2020–2027?
- What are the major drivers, restraints, challenges, opportunities, and trends 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 which are the high-growth regions/countries?
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