According to a new market research study titled ‘Vaccines Market – Global Analysis and Forecasts by Technology, Disease Indication, Route of Administration, and Patient Type. The global vaccines market is expected to reach US$ 64,538.4 Mn in 2027 from US$ 36,998.8 in 2018. The market is estimated to grow with a CAGR of 6.5% from 2019-2027. The report highlights the trends prevalent in the global vaccines market and the factors driving the market along with those that act as deterrents to its growth.
The vaccines market by technology is segmented into Recombinant vaccines, Conjugate Vaccines, Live Attenuated Vaccines, Inactivated Vaccines, and Toxoid Vaccines. In 2018, the conjugate vaccines segment held a largest market share of 65.1% of the vaccines market, By Technology. This segment is also expected to dominate the market in 2027 as they are the most effective forms of immunization, used to prevent diseases in both infants and adults. Moreover, the similar segment is anticipated to also witness the fastest growth rate of 6.7% during the forecast period, 2019 to 2027 owing to the increasing demand for drugs to treat the disease.
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Driving factors such as, growing focus on immunization programs, increasing support for vaccine development, rising prevalence of infectious diseases. However, the complexity and cost of vaccine manufacturing and soaring costs of vaccines are likely to pose a negative impact on the market growth. On the other hand, robust pipeline of vaccines is likely to have a positive impact on the growth of the global vaccines market in the coming years.
Some of the prominent players operating in vaccines market are:-
PFIZER INC, GlaxoSmithKline plc, Merck & Co., Inc., Sanofi, Johnson & Johnson Services, Inc, Panacea Biotec Limited, Astellas Pharma Inc., NOVAVAX, INC., VBI Vaccines Inc, and Bavarian Nordic. The market players are focused towards bringing new and innovative products and services to sustain their position in the market. For instance, in December, 2018, The European Commission has granted marketing authorization for Dengvaxia, Sanofi’s dengue vaccine. The marketing authorization follows the October 18, 2018, recommendation by the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) to approve use of the dengue vaccine in European endemic areas. The developments performed by the companies are helping the market to grow in the coming years.
Product approvals and collaborations were observed as the most adopted strategy in global vaccines industry. Few of the recent product key developments are listed below:
2019: Merck, known as MSD outside of the United States and Canada, announced that V114, the company’s investigational 15-valent pneumococcal conjugate vaccine, has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration (FDA) for the prevention of invasive pneumococcal disease (IPD). The Breakthrough Therapy Designation is an FDA program designed to expedite the development and review of drugs intended for serious or life-threatening conditions.
2018: The European Commission has granted marketing authorization for Dengvaxia, Sanofi’s dengue vaccine. The marketing authorization follows the October 18, 2018, recommendation by the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) to approve use of the dengue vaccine in European endemic areas.
2018: Pfizer entered into a multi-year research and development (R&D) collaboration with BioNTech AG to develop mRNA-based vaccines
VACCINES – MARKET SEGMENTATION
- Recombinant vaccines
- Conjugate Vaccines
- Live Attenuated Vaccines
- Inactivated Vaccines
- Toxoid Vaccines
By Disease Indication
- DTP (diphtheria, tetanus, and pertussis)
- Respiratory Syncytial Virus (RSV)
- Other Diseases
By Route of Administration
- By Patient Type
- Adult Patients
- Pediatric Patients
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- South America (SAM)
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Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players