Worldwide Vaccine Industry to 2027 - Increase in Healthcare Spending Presents Opportunities - ResearchAndMarkets.com

The "Vaccine Market By Technology, Indication, and End Use: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

The global vaccine market accounted for $32,463 million in 2019 and is expected to reach $54,168 million by 2027, registering a CAGR of 6.6% from 2020 to 2027.

Vaccine is a biological preparation that is administered to produce acquired immunity in patients. Administration of vaccines aids to enhance the immune response against a specific pathogen. Vaccinations play a key role in sustaining people's health across different countries; hence, they are used in various national disease-prevention strategies. Due to the increased occurrence of both viral and bacterial infectious diseases, the demand for vaccines has grown over the past few years. Vaccinations are primarily provided to people of different ages, improving their immune system during their lives and ensuring defense against various forms of infectious diseases.

It is estimated that vaccine market is expected to experience significant market growth during the forecast period as there has been an increase in adoption in several countries across the globe by national immunization programs. In addition, surge in pneumococcal, meningococcal disease outbreaks in several countries has led to upsurge in demand for meningococcal vaccines, which further facilitate the growth of the market. However, stringent government regulations for the approval of new vaccines and recall of several products due to contamination are expected to impede the market growth. In contrast, high population base in emerging markets and global increase in healthcare spending provides significant growth opportunities for the meningococcal vaccine market.

Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest market share in 2019, and is expected to retain its dominance throughout the forecast period. This is attributed to factors such as well-equipped & better financed hospitals & clinics, high adoption rate for vaccine products, and sophisticated healthcare infrastructure. Moreover, the U.S. is the target area for top players in the market, owing to high awareness about vaccination. However, Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential due to improvement in healthcare facilities, available disposable income, and rapidly developing economic conditions.

The global vaccine market is segmented on the basis of technology, indication, end user, and region. Depending on technology, the market is classified into recombinant & conjugate vaccines, live attenuated vaccines, inactivated vaccines, toxoid vaccines, and others. By indication, the market is classified into pneumococcal disease, influenza, human papilloma virus, meningococcal disease, rotavirus, varicella; diphtheria, pertussis, & tetanus (DPT), polio, hepatitis, measles; mumps, & rubella (MMR), and other indications. According to end user, the market is segmented into pediatric, adults, and travelers. By region, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Spain, Italy, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

Key Benefits

• The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
• It offers a quantitative analysis from 2019 to 2027, which is expected to enable stakeholders to capitalize on prevailing market opportunities.
• A comprehensive analysis of the countries in Latin America is provided to determine the existing opportunities.
• The key market players and their strategies have been analyzed to understand the competitive outlook of the market.

Market Dynamics

Drivers

• Increase in Prevalence of Infectious Diseases
• Surge in Immunization Programs Across the Globe
• Increase in R&D Activities to Develop New Vaccine

Restraint

• Longer Timelines Required for Vaccine Production
• High Cost Associated With the Development of Vaccine

Opportunity

• Growth Opportunities in the Emerging Markets
• Increase in Healthcare Spending

Key Players Profiled

• AstraZenecea
• CSL Limited
• Emergent BioSolutions Inc.
• GSK
• Johnson & Johnson
• Merck & Co., Inc.
• Novartis
• Novavax, Inc.
• Pfizer
• Sanofi Aventis
• Serum Institute of India Ltd

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