According to Emergen Research, the global vaccine market size was USD 44.82 billion in 2020 and is expected to reach USD in 77.90 billion 2028 and register a revenue CAGR of 7.1% during the forecast period, 2021-2028.
Emergen Research has published its latest report titled “Vaccine Market, By Type (Monovalent Vaccines, Multivalent Vaccines), By Patient Type (Pediatric Patients, Adult Patients), By Technology (Inactivated & Subunit Vaccines, Conjugate Vaccines, Recombinant Vaccines, Live Attenuated Vaccines, Toxoid Vaccines), By Disease Type (DTP, HPV, Pneumococcal Disease, Meningococcal Disease, Influenza, Hepatitis, Varicella, MMR, Polio, Herpes Zoster, Rotavirus, Others), By Route of Administration (Oral Administration, Intramuscular and Subcutaneous Administration, Others), and By Region, Forecast to 2028”
According to Emergen Research, the global vaccine market size was USD 44.82 billion in 2020 and is expected to reach USD in 77.90 billion 2028 and register a revenue CAGR of 7.1% during the forecast period, 2021-2028.
Market Dynamics:
Steady revenue growth of the global vaccine market is attributed to factors such as increasing geriatric population, rising burden of infectious diseases, including hepatitis, malaria, pneumonia, influenza, malaria, and cholera, across the globe, and growing risks of disease contraction. Rapid spread of various drug-resistant microbial strains, including the SARS-CoV-2 virus and its emerging strains, significant surge in COVID-19 cases around the world, rapidly growing demand for COVID-19 vaccines, and increasing research & development activities in the pharmaceutical and biotechnology sectors for vaccine development amid the ongoing pandemic are among the key factors that have driven market revenue growth over the past two years.
Furthermore, growing number of clinical and pre-clinical trials of vaccines, increasing government investments in public and private healthcare companies for development of COVID-19 vaccines and rapid diagnostic test kits are expected to boost the global vaccine market revenue growth to a major extent. For instance, in August 2021, leading healthcare companies Pfizer and BioNTech joined forces with Brazilian biopharmaceutical giant, Eurofarma Laboratórios S.A., for large-scale production of COVID-19 vaccine doses for a number of Latin American countries. As per reports, manufacturing of the COMIRNATY vaccines is scheduled to commence in 2022.
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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
Monovalent Segment to Account for Fastest Revenue Growth Rate:
Based on type, the global vaccine market is segmented into monovalent vaccines and multivalent vaccines. The monovalent vaccines segment is expected to register the fastest revenue CAGR in the global market over the forecast period, owing to key factors such as rapid development of monovalent vaccines and their growing demand due to many advantages over multivalent vaccines. These vaccines exhibit a strong immune response and are designed to immunize a single microorganism and antigen.
Recombinant Vaccines Segment Accounted for Largest Revenue Share in 2020:
Based on technology, the global vaccine market is segmented into inactivated & subunit vaccines, conjugate vaccines, recombinant vaccines, live attenuated vaccines, and toxoid vaccines. The recombinant vaccines segment dominated other segments in terms of largest revenue share in the global market in 2020. Increasing demand for recombinant vaccines due to several advantages including improved predictability of response, higher safety and efficacy, and reduced risks of infection is a key factor driving the revenue growth of this segment.
North America Accounted for Largest Revenue Share:
Among regional markets, the North America vaccine market held the largest revenue share in the global market in 2020. Major factors contributing to the regional market revenue growth are rising cases of severe infectious diseases including the novel coronavirus disease, growing demand for vaccines COVID-19, rise in government funding for pharmaceutical R&D activities for effective COVID-19 vaccines, and presence of major market players in the region, including AstraZeneca, Pfizer, Inc., Emergent BioSolutions Inc., and Johnson & Johnson.
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Major Companies in the Global Vaccine Market Include:
- Pfizer, Inc.
- CSL Limited
- Merck & Co., Inc.
- AstraZeneca
- Johnson & Johnson
- Serum Institute of India Pvt., Ltd.
- GlaxoSmithKline PLC
- Sanofi Pasteur SA
- Emergent BioSolutions, Inc.
- Biological E.
For the purpose of this report, Emergen Research has segmented the global vaccine market based on type, patient type, technology, disease type, 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 Type Outlook (Revenue, USD Billion; 2018-2028)
- DTP
- HPV
- Pneumococcal Disease
- Meningococcal Disease
- Influenza
- Hepatitis
- Varicella
- MMR
- Polio
- Herpes Zoster
- Rotavirus
- Others
Route of Administration Outlook (Revenue, USD Billion; 2018-2028)
- Oral Administration
- Intramuscular and Subcutaneous Administration
- Others
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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