Vaccines Market size is set to surpass 96.1 billion by 2028, according to a new research report by Global Market Insights Inc.
The expanding availability of preventive as well as therapeutic vaccines for range of diseases will boost the market expansion. Furthermore, newly emerging infectious pathogenic diseases has influenced the need for effective vaccines across the globe. This has driven the R&D activities undertaken by the operational players as well as dedicated research institutes. Advancement in vaccine development technologies to increase its efficacy and liability will offer innovative solutions to address existing disease burden. The adoption of novel development approaches including DNA/RNA vaccines, nanoparticle vaccines, and rational design will foster the vaccines market expansion.
Increasing commercialization of preventive vaccines against emerging diseases in adults will propel the market statistics
Adult vaccines segment is projected to proceed at 4.2% CAGR during the forecast timeframe. This is attributable to increased COVID-19 vaccination rate among adults. Moreover, the awareness and improving accessibility of various preventive vaccines that helps to reduce the risk of severe infections in adults will drive the segment revenue. Additionally, some countries have established the vaccination policies and regulations for adults while travelling to particular nations to avoid the risk of disease transmission, that has further influenced the vaccination rate in adults.
Protection against the risk of several type of cancers with HPV vaccination will fuel the market forecasts
Vaccines market from human papilloma virus segment surpassed USD 3.5 billion in 2021. The higher recommendation of HPV vaccination for preteens, teens as well as younger adults as it can lead to different types of cancer will enhance the industry landscape. For instance, as per the Centers for Disease Control and Prevention, each year, nearly 14 million Americans, including teens are anticipated to be infected with HPV. The vaccination also prevents the risk of cervical cancer development in women. Thus, increasing vaccination rate across the developed and developing regions to reduce further risk of severe diseases associated with HPV will stimulate the market statistics.
Browse key industry insights spread across 200 pages with 215 market data tables & 13 figures & charts from the report, “Vaccines Market Analysis By Age Group (Pediatric, Adult), Disease (Cancer, Hepatitis, Pneumococcal Disease, DTP, Influenza, Human Papilloma Virus, Meningococcal Disease, Polio, Rotavirus, COVID-19), Technology (Conjugate, Live, Inactivated, Recombinant, Toxoid), Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
Improved efficacy with the inactivated technology offering elimination of pathogenic reversal activity will drive the market demand
Vaccines market from inactivated segment exceeded USD 2.1 billion in 2021. This is attributed to the ability of inactivated vaccines in destruction of pathogen replication. This offers effective protection against various dreadful pathogenic diseases such as hepatitis A, influenza, polio, and rabies. Moreover, these vaccines prevent the reversal activity of pathogens to more pathogenic phenotype and avoids the interference with other functional molecules during the combination therapies. This leads to preference for inactivated technology over the live vaccines. Furthermore, as it can stored without refrigeration for certain period as the pathogen is dead, it offers ease in transportation and storage that will continue to increase its demand.
Expanding vaccination coverage with supportive government initiates will positively impact the Europe market growth
Europe vaccines market accounted for 18% revenue share in 2021. This is attributable to the adoption of new technologies and expanding awareness about the preventive vaccines in the region. The government organizations are implementing some strategies to broaden accessibility for the emerging infectious disease treatments including the COVID-19. In addition, the industry players entered in collaboration with non-government organizations to provide COVID-19 vaccines considering significantly increasing disease incidence in the region.
Product launches with collaborative strategies by the market players will fuel the business performance
Some of the notable companies operating in the vaccines industry are GlaxoSmithKline, Abbott, Astellas Pharma, Inc., AstraZeneca, Serum Institute of India, CSL Limited, Emergent BioSolutions, Inc., Merck & Co. Inc., Novavax, Pfizer, and Sanofi. These market players are involved in the introduction of new technologies and collaborations to strengthen their footprint in the market.
For instance, UNICEF and Pfizer entered into a supply agreement for the COVID-19 vaccines distribution throughout 2021. This has helped the company to maintain broaden its distribution across the globe, thereby driving the business revenue.