PUBLISHER: Roots Analysis | PRODUCT CODE: 1891246
PUBLISHER: Roots Analysis | PRODUCT CODE: 1891246
As per Roots Analysis, the vaccines market is estimated to grow from USD 48 billion in the current year to USD 94 billion by 2030, at a CAGR of 11.9% during the forecast period, till 2030.
Vaccines Market
The market sizing and opportunity analysis has been segmented across the following parameters:
Type of Vaccine API
Targeted Patient Population
Type of Vaccines
Route of Administration
Key Geographical Region
Vaccines Market: Growth and Trends
With the increasing threat of infectious diseases, there has been a rise in the need for vaccines worldwide. A vaccine is a type of biological formulation created using weakened or inactive microbes, along with their surface proteins and toxins. These vaccines offer active acquired immunity against specific diseases and allow the immune system to produce a robust response if a person encounters the same pathogen in the future. Vaccination is now a critical means of lowering the risk of infectious diseases and decreasing global mortality rates. The global emergence of infectious diseases has highlighted the need for improved vaccines to mitigate disease risks. Recently, the World Health Organization published a report on disease outbreaks, revealing the rising number of people affected by Avian influenza A and Mpox.
Moreover, the European Centre for Disease Prevention and Control reported that approximately 4.5 million dengue cases had been documented worldwide, with about 4,000 fatalities confirmed. In addition, the World Health Organization announced approximately 64 new infectious diseases impacting individuals worldwide. Further, approximately 2 million individuals affected by rotavirus are admitted to the hospital annually. In this context, numerous industry leaders, governmental bodies, and public health organizations have launched diverse immunization initiatives and concentrated on creating advanced vaccines. In was also recently reported that Biovac and Sanfoi established a collaboration for the manufacturing of inactivated polio vaccines in Africa. The aim of the collaboration is to increase the production of polio vaccines to satisfy the rising need for these vaccines in more than 40 African nations.
Additionally, French President Emmanuel Macron opted to collaborate with several African leaders in organizing a USD 1.1 billion initiative aimed at speeding up vaccine production in African nations. At present, various research projects have been launched by stakeholders to promote innovation in the healthcare sector and reduce the risk of transmitting infectious diseases. Due to the continuous need for vaccines and rising collaborations, the vaccine market is expected to expand at a consistent pace during the forecast period.
Vaccines Market: Key Insights
The report delves into the current state of the vaccines market and identifies potential growth opportunities within industry. Some key findings from the report include:



Vaccines Market: Key Segments
Live Attenuated Vaccines Segment is Likely to Capture the Majority of the Market Share
In terms of the type of technology, the global market for vaccines is segmented into conjugate vaccines, inactivated and subunit vaccines, live attenuated vaccines, recombinant vaccines, toxoid vaccines, and others. Fueled by the rising need for potent vaccines to combat various infectious diseases, live attenuated vaccines are projected to occupy the largest segment, securing 28% of the total vaccines market share in the current year. Other types of vaccines will grow at a higher CAGR of 16.8% during the forecast period owing to the growing research on novel vaccines such as DNA vaccines.
Pediatric Segment Holds the Highest Vaccines Market Share
In terms of target patient population, the global market has been distributed into pediatrics and adults. According to our market study, the pediatric segment accounts for the largest share (56%) of the vaccines market in the current year. The expansion of the pediatric market segment is due to the rising emphasis on immunizing infants against illnesses and the increasing government efforts to promote vaccination among children. In the long run, the adult segment will grow at a higher CAGR of 12.1% during the forecast period, driven by the increasing cases of endemic and pandemics.
The Current Market Share is Captured by Intramuscular Segment
In terms of route of administration, the vaccines market is segmented into intramuscular, subcutaneous, oral, intravenous and others. According to our projection, the intramuscular segment capture majority (52%) of the overall vaccine market in the current year. The increase can be attributed to the rising preference for parenteral vaccines, as they can avoid the gastrointestinal tract. The intramuscular route facilitates easy administration and produces fewer side effects. In the long term, the intravenous segment is expected to grow at a higher CAGR of 14.6% throughout the forecast period.
MMR Vaccines will Grow at a Higher CAGR of 12.3% during the Forecast Period
In terms of the type of vaccines, the market is segmented into Pneumococcal Conjugate Vaccine, Human Papillomavirus Vaccine, Rotavirus Vaccine, Influenza Vaccine, MMR Vaccine, Tetanus and Diphtheria Booster Vaccine, Varicella Vaccine, DTaP-Hib-IPV Vaccine, DTaP-HepB-Hib-IPV Vaccine and other. Driven by the growing incidences of infectious diseases, the others segment accounts to hold the largest (32.4%) vaccines market share in the current year. Additionally, the pneumococcal conjugate vaccine accounts to hold the second highest share 25.8% of the market currently. Pfizer with its Prevnar series and Merck are the market leaders in pneumococcal vaccine market. Merck received US FDA approval for its 21-valent pneumococcal vaccine, CAPVAXIVE recently. In the long run, MMR vaccines will grow at a higher CAGR of 12.3% during the forecast period.
North America Accounts for the Highest Revenues in the Global Vaccines Market in the Current Year
In terms of key geographies, the global market has been distributed across North America, Europe, Asia-Pacific and Rest of the World. According to our projections, North America accounts for the largest share (44%) of the market in the current year. The primary factors driving the growth of the vaccine market in this area are the heightened focus on vaccination implementation, the fast-expanding healthcare industry, and a rise in vaccine research in the US. However, the demand for vaccines in Asia-Pacific is estimated to witness growth and is likely to grow at a substantial CAGR of 14.7% during the forecast period. In February 2023, the Government of India forged a new three-year partnership with Gavi (Leading Vaccine Alliance) with the aim of immunizing millions of children in India with appropriate vaccines. Under this agreement, Gavi has allocated USD 250 million for the identification and vaccination of children who haven't received any vaccine strengthening healthcare systems and supporting the introduction of HPV (human papillomavirus vaccine) along with TCV (typhoid conjugate vaccine) into India's national routine immunization schedule.
The key players active in this industry are Bio Farma, Emergent BioSolutions, GC Pharma, GlaxoSmithKline, Janssen, Merck, Novavax, Moderna, Pfizer, Sanofi Pasteur and Valneva. Currently, GlaxoSmithKline accounts to hold 21% of the overall vaccines market share in the current year. The highest share can be attributed to its extensive range of vaccines and GlaxoSmithKline's acceleration of research and development efforts in the vaccine sector.
Vaccines Market: Research Coverage
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