According to a study published by Insure Insights, the global vaccine market is anticipated to grow at a CAGR of 11.6% during the forecast period. A vaccine is a biological preparation that offers active acquired immunity to a particular infectious disease. It usually contains an agent that is similar to a disease-causing microorganism and is typically made from weakened or killed forms of the microorganism, one of its surface proteins, or its toxins. The agent triggers the body’s immune system to identify the agent as a threat, destroy it, and to identify further and destroy any of the microorganisms resembling with that agent that it may encounter further. Vaccines can be prophylactic or therapeutic. The administration of vaccines is known as vaccination. Vaccination is the most successful method of preventing infectious diseases. Immunity due to vaccination is largely responsible for the worldwide elimination of smallpox and the prevention of diseases such as measles, polio, measles, and others.

Top Driver: Surging Demand for Better Healthcare Facilities and Growing Awareness Levels of the Benefits of Immunization

The surging demand for better healthcare facilities and growing awareness levels of the benefits of immunization are the significant factors stimulating the growth of the global vaccine market. In addition to this, increasing company initiatives to optimize vaccine research and development and the rising government support for vaccine development are estimated to escalate the growth of the market. On the other hand, the high cost associated with the development of vaccines, insufficient access to vaccines, and the increasing number of product recalls are some key factors that might hamper the market growth. However, the increasing use of adjuvants in vaccines and the rising focus on therapeutic vaccines are likely to create lucrative opportunities for the market players in the coming years.

Pediatric Segment is Estimated to Witness Significant Growth in the Forecast Period

The global vaccines market has been segmented into pediatric and adult patients based on the patient type. The pediatric patient segment accounts for the largest market share of the global vaccines market. The growth is attributed to the rising government initiatives for immunization and the increasing prevalence of diseases. On the basis of technology, the market is segmented into conjugate vaccine, inactivated and subunit vaccines, live attenuated vaccines, and others. On the basis of disease indication, the market is segmented into pneumococcal disease, DTP, Influenza, and others.

    The Increasing Government Support for Vaccine Development to Benefit North America Market

North America is the dominating region in the global vaccine market and is estimated to continue the trend during the forecast period. The growth is attributed to the increasing government support for vaccine development. Several company investments for research and development are the major drivers propelling the market growth in this region. In addition to this, the improved healthcare infrastructure and facilities are key factors driving the market.

Following North America, the Asia Pacific region is estimated to witness significant growth during the forecast period, attributed to the increasing target population base and high-unmet clinical needs. Moreover, the rising disposable income level and the growing awareness concerning the benefits of vaccination in developing economies of the Asia Pacific region is further predicted to foster market growth.

Players to Focus on Research & Development  

The global vaccine market is estimated to stay fragmented in the forecast period owing to the new entrants. Major players operating in the market are Astellas Pharma Inc., Astrazeneca Plc. (Medimmune, LLC.), CSL Limited, Emergent Biosolutions, Inc., Glaxosmithkline Plc., Johnson & Johnson, Merck & Co., Inc., Pfizer Inc., Sanofi Pasteur, and Serum Institute of India Pvt. Ltd.

Schlumberger Limited: In March 2020, Pfizer and BioNTech entered into strategic collaboration to advance development in mRNA vaccine for coronavirus infection. This will fasten development process and offer competitive advantage to the company.
Scope of the Report

By Technology

• Inactivated and subunit vaccines
• Conjugate vaccines
• Live attenuated vaccines
• Others

By Diseases  

• Pneumococcal disease
• Influenza
• DTP
• Others

By Patient Type  

• Pediatric patient
• Adult patient

 By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.