PUBLISHER: The Business Research Company | PRODUCT CODE: 1409154
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409154
“Adult Vaccines Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on adult vaccines market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for adult vaccines? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The adult vaccines market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Adult vaccines are immunizations administered to adults to stimulate an immune response against disease-causing pathogens. These vaccines play a crucial role in the prevention and treatment of various diseases affecting adults, including influenza, pneumococcal disease, and herpes.
The primary types of adult vaccines include monovalent and multivalent options. A monovalent vaccine contains the mRNA component of a single virus, triggering an immune response against a specific antigen. Various technologies are employed in the development of adult vaccines, including live attenuated vaccines, inactivated viral or bacterial vaccines, toxoid vaccines, recombinant vaccines, and conjugate vaccines. These vaccines find applications in preventing diseases such as influenza, diphtheria, pertussis, tetanus (dPT), human papillomavirus, shingles (zoster), pneumococcal disease, and hepatitis. Healthcare firms and hospitals are key users of these vaccines.
The adult vaccines market research report is one of a series of new reports from The Business Research Company that provides adult vaccines market statistics, including adult vaccines industry global market size, regional shares, competitors with a adult vaccines market share, detailed adult vaccines market segments, market trends and opportunities, and any further data you may need to thrive in the adult vaccines industry. This adult vaccines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The adult vaccines market size has grown strongly in recent years. It will grow from $21.48 billion in 2023 to $23.09 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth observed during the historical period can be attributed to various factors, including the increasing aging population, government-led vaccination programs, a growing awareness of preventive healthcare practices, ongoing vaccine development and innovation, and the impact of public health campaigns. These elements collectively contributed to the expansion and uptake of adult vaccines, reflecting a heightened focus on preventive measures and healthcare initiatives during that period.
The adult vaccines market size is expected to see strong growth in the next few years. It will grow to $32.13 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The anticipated growth in the forecast period can be attributed to several key factors, including the emergence of new infectious threats, a heightened focus on immunization registries, the increasing threat of antimicrobial resistance, global initiatives for pandemic preparedness, a shift toward personalized vaccines, and an increased emphasis on maternal immunization. Major trends expected in the forecast period include the integration of digital health, technological advancements in vaccine production, collaborations between governments and pharmaceutical companies, innovations in vaccine delivery technologies, and the expansion of immunization programs. These trends collectively shape the evolving landscape of adult vaccines, reflecting a proactive approach to public health challenges.
The upward trajectory of the adult vaccine market is significantly influenced by the escalating prevalence of contagious diseases. Contagious diseases, which spread from person to person, underscore the critical need for vaccines in developing immunity against such illnesses. For instance, as of December 2022, the World Health Organization's COVID-19 dashboard reported 655 million COVID-19 infections since the virus emerged in 2019. Additionally, the global tuberculosis report by the World Health Organization noted a concerning rise in non-HIV-related tuberculosis deaths, escalating from 1.2 million in 2019 to 1.3 million in 2021. This surge in contagious diseases is a pivotal driver propelling the growth of the adult vaccines market.
The surge in healthcare expenditure has significantly bolstered the adult vaccine market. Healthcare expenditure encompasses the total cost of healthcare services provided to a population and often leads to amplified funding for medical research and development. Increased investments in vaccination programs and expanded access to vaccines are vital for mitigating preventable diseases and enhancing overall population health. Moreover, adult vaccination programs can yield substantial cost savings by curbing healthcare utilization and reducing the necessity for costly treatments. Notably, India's public expenditure on healthcare surged to 2.1% of GDP in 2021-22 from 1.8% in 2020-21, as highlighted in the Economic Survey of 2022. This increased healthcare expenditure has positively influenced the growth trajectory of the adult vaccine market.
Product innovation emerges as a pivotal trend driving the evolution of the adult vaccines market. Major industry players are introducing innovative products to fortify their market presence. For instance, in August 2022, GSK, a UK-based biopharma company, partnered with IQVIA, an India-based global provider of advanced analytics and clinical research services, to launch Vaccine Track. This pioneering data trend platform aims to enhance adult vaccination efforts nationwide by providing real-time, pertinent data trends that focus on improving public health initiatives. The advent of such innovative tools underscores the industry's commitment to leveraging data and technology to advance adult vaccination strategies and address prevailing healthcare challenges.
Prominent players within the adult vaccine market are emphasizing strategic collaborations aimed at the development and commercialization of personalized cancer vaccines. These collaborations, centered on mutual objectives, are pivotal business relationships between multiple companies. For instance, in October 2022, Merck & Co., Inc., an American multinational pharmaceutical company, partnered with Moderna, a US-based pharmaceutical and biotechnology company, to collectively advance and commercialize the personalized cancer vaccine mRNA-4157/V940. Under their existing collaboration and license agreement, both entities will collaborate on the development and commercialization of mRNA-4157/V940, which is currently undergoing assessment in a Phase 2 clinical trial conducted by Moderna. This vaccine is being evaluated alongside KEYTRUDA, Merck's anti-PD-1 therapy, as an adjuvant treatment for high-risk melanoma patients.
In August 2022, GSK, a UK-based pharmaceutical giant, acquired Affinivax, Inc., a US-based clinical-stage biopharmaceutical company, in a deal of undisclosed value. This strategic acquisition aligns with GSK's broader strategy of bolstering its portfolio in specialty medicines and vaccines, particularly focusing on innovative vaccine candidates for pneumococcal disease. Affinivax, Inc., known for its pioneering work in next-generation pneumococcal vaccines and adult vaccines based on the Multiple Antigen Presenting System (MAPS) platform technology, is expected to complement GSK's efforts in advancing cutting-edge vaccine solutions. This strategic move underscores GSK's commitment to driving advancements in adult vaccines and strengthening its position within the healthcare landscape.
Major companies operating in the adult vaccines market report are GlaxoSmithKline PLC, Merck & Co, Sanofi Pasteur, Pfizer Inc, Commonwealth Serum Laboratories Limited, Johnson & Johnson, Serum Institute of India, AstraZeneca PLC, Novartis AG, Protein Sciences Corporation, Emergent BioSolutions Inc., Bavarian Nordic A/S, Dynavax Technologies Corporation, Novavax Inc, Medimmune, BioNTech SE, Moderna, Inovio Pharmaceuticals, Sinovac, Valneva Se, Bharat Biotech, Biological E Limited, Panacea Biotec, Shenzhen Kangtai Biological Products, Beijing Tiantan Biological Products, Hualan Biological Engineering, Chengdu Institute of Biological Products, Bharat Biotech International Limited, Protein Sciences Corporation, Takeda Pharmaceutical Company Limited .
North America was the largest region in the adult vaccines market in 2023. Asia-Pacific is expected to be the fastest-growing region in the adult vaccines market during the forecast period. The regions covered in the adult vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the adult vaccines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The adult vaccines market consists of sales of mRNA vaccines and viral vector vaccines. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.