PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1384226
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1384226
Scope of the Report | |
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Years Considered for the Study | 2021-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD) Billion |
Segments | By Technology, By Type, By Disease Indication, By Route of Administration, By End User |
Regions covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa. |
The global vaccines market size is projected to reach USD 93.8 billion by 2028 from USD 77.6 billion in 2023, at a CAGR of 3.9% during the forecast period. Factors such as high incidence of contagious diseases, innovation in vaccine technology, governmental support & substantial funding for vaccine development, growing vaccination initiatives and strong focus on investing and launching innovative vaccines.
"The conjugate vaccines segment held the dominant share in the vaccines market"
Based on technology, the global vaccines market is segmented into inactivated & subunit vaccines, live attenuated vaccines, toxoid vaccines, viral vector vaccines, recombinant vaccines and conjugate vaccines. The conjugate vaccines segment is anticipated to grow at significant CAGR. Growing governmental support coupled with investment by companies in the field of conjugate vaccine development, increasing collaboration between public and private sectors are likely to have positive impact on the growth of the market.
"Pneumococcal segment accounted for the largest share of the disease indication segment in 2022."
Based on disease indication, the vaccines market is segmented into, combination vaccines, HPV, meningococcal disease, herpes zoster, rotavirus, MMR, pneumococcal disease, influenza, varicella, hepatitis, DTP, polio, and other disease indications. In 2022, the pneumococcal segment accounted for the largest share of the vaccines market. The segment held the dominant share in the market owing to various factors such increased pneumococcal disease cases, with a rising government investment in vaccination programs.
"Asia Pacific region is likely to grow at a faster pace in the vaccines market."
The vaccines market region is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and the Africa. Asia Pacific region is anticipated to grow at a significant CAGR during the forecast period. The growth of the region is majorly driven by companies that are upping their investments in Asia-Pacific region, benefiting from increased government support for vaccine development, rising healthcare expenditure in Asian countries, emergence & re-emergence of contagious disease and rising disposable income.
This report provides a detailed picture of the vaccines market. It aims at estimating the size and future growth potential of the market across different segments such as the technology, type, disease indication, route of administration, end-user and region. The report also includes an in-depth competitive analysis of the key market players along with their company profiles recent developments and key market strategies.
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall vaccines market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.