Vaccines Market – Global Outlook & Forecast 2021-2031

Vaccines Market by Patient Type [Pediatric Patients and Adult Patients], Strain Type [Monovalent Vaccines and Multivalent Vaccines], Technology [Live Attenuated Vaccines, Conjugate Vaccines, Recombinant Vaccines, Toxoid Vaccines, and Inactivated & Subunit Vaccines], Vaccine Type [DT Containing Vaccine; Measles, Mumps, Rubella, Varicella; Pneumococcal Conjugate Vaccine (PCV); Human Papillomavirus (HPV); Meningococcal; COVID-19; Rotavirus; Hepatitis and Influenza], Route of Administration [Oral and Parenteral] – Global Analysis & Forecast 2021-2031

Vaccines Market Introduction

Vaccine is a biological preparation that provides active acquired immunity to a particular disease. It helps the body’s immune system to recognize and fight pathogens like viruses or bacteria, which keeps us safe from the diseases they cause. Vaccines are made using the disease-causing virus or bacteria, but in a form that will not harm human body. Instead, the weakened, killed, or partial virus or bacteria prompts human body immune system to develop antibodies, or defenders, against the disease. Vaccination is one of the most effective ways to prevent diseases. Vaccines protect against debilitating or life-threatening diseases, including measles, polio, tetanus, diphtheria, meningitis, influenza, tetanus, typhoid, COVID-19, cervical cancer, etc. Vaccines are generally prepared by using five major technologies i.e., conjugate vaccines, live attenuated vaccines, toxoid vaccines, inactivated and subunit vaccines and recombinant vaccines.

Market - Headwinds & Tailwinds

The global vaccines market is mainly driven by outbreak of infectious diseases in different regions, rising awareness for immunization, growing number of new born babies globally, robust vaccine pipeline and various initiatives for making vaccine available to low- and middle-income countries. Furthermore, increasing government support for vaccine development is also playing a pivotal role in contributing to growth of the market globally. However, high cost of vaccine development and religious beliefs among certain communities regarding vaccination are likely to restrain the market growth to a certain extent.

Market Segmentation & Insights

The global vaccines market has been analyzed from six perpectives: Patient Type, Strain Type, Technology, Vaccine Type, Route of Administration and Region.

Vaccines Market by Patient Type

Based on patient type, the market has been segmented into pediatric patients and adult patients. The pediatric patients segment accounted for the largest share in the market owing to rising pediatric population and growing initiatives by public & private organizations to promote childhood immunization.

Vaccines Market by Strain Type

Based on strain type, the market has been segmented into monovalent vaccines and multivalent vaccines. The multivalent vaccines segment accounted for the largest share and is expected to be the fastest growing segment in the market during the forecast period owing to extensive development of innovative multivalent vaccines. Multivalent vaccines provide immunity against two or more strains of the same pathogen, or against two or more pathogens.

Vaccines Market by Technology

Based on technology, the vaccines market has been segmented into live attenuated vaccines, conjugate vaccines, recombinant vaccines, toxoid vaccines, inactivated and subunit vaccines. Recombinant vaccines segment is expected to be the fastest growing segment in the market during the forecast period. The growth of the segment can mainly be attributed to development and launch of several recombinant vaccines. Recombinant vaccines are developed by the application of recombinant DNA technology. It involves the insertion of DNA which encodes an antigen for the stimulation of immune response against the expressed antigen. 

Vaccines Market by Vaccine Type

Based on vaccine type, the vaccines market has been segmented into DT containing vaccine; measles, mumps, rubella, varicella; pneumococcal conjugate vaccine (PCV); human papillomavirus (HPV); meningococcal; COVID-19; rotavirus; hepatitis; influenza and others (cholera, malaria, rabies, shingles, etc.). The COVID-19 segment is expected to be the fastest growing segment in the market during the forecast period. The growth of the segment can be attributed to the sudden outbreak of the COVID-19 pandemic globally; increasing investments, collaboration & funding to boost R&D activities for development of effective COVID-19 vaccine; and rising initiatives by various government bodies & numerous organizations to provide COVID-19 immunization worldwide.

Vaccines Market by Route of Administration

Based on route of administration, the vaccines market has been segmented into oral and parenteral. The parenteral segment holds the largest share in the market. Intramuscular administration is often preferred because it is easy to perform and generally well tolerated, with a low risk for adverse reactions at the site of injection. The majority of licensed vaccines in market are administered by intramuscular injection, whereas some vaccines are approved for subcutaneous or intradermal use.

Vaccines Market by Region

Based on region, the global vaccines market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the vaccines market, followed by Asia Pacific. The large share of North America in the global market can largely be attributed to its developed healthcare infrastructure, presence of prominent players, and increasing government initiative for immunization programmes. According to CDC, around 70% of children aged 19-35 months has received a complete seven-vaccine series (a subset of all recommended vaccinations for this age group) in the U.S.

Competitive Landscape

The vaccines market is marked by presence of prominent players such as Merck & Co., Sanofi, GlaxoSmithKline plc., Pfizer Inc., AstraZeneca, CSL Limited, Panacea Biotec Ltd., Serum Institute of India Pvt. Ltd., PT Bio Farma (Persero), Bavarian Nordic, among others. Other players operating in the market are Bharat Biotech, Emergent BioSolutions Inc., Johnson & Johnson Private Limited, Mitsubishi Tanabe Pharma Corporation, among others.

Snapshot: Industry Developments

• In Jan 2021, Bayer signed a collaboration and service agreement with CureVac N.V., a biopharmaceutical company developing a new class of transformative medicines based on messenger ribonucleic acid (mRNA). Under the terms of the agreement, Bayer will support the further development, supply and key territory operations of CureVac´s COVID-19 vaccine candidate CVnCoV
• In Dec 2020, Pune-based Serum Institute of India, the largest vaccine manufacturer in the world by doses, announced the launch of India's first indigenously developed pneumococcal vaccine “Pneumosil”
• In April 2020, Sanofi and GSK announced that they have signed a letter of intent to develop an adjuvanted vaccine for COVID-19, using innovative technology from both companies, to help address the ongoing pandemic
• In Jan 2020, Pfizer Inc. announced the launch of its Vaccines Division’s Centers of Excellence Network, a global program of collaborations with academic institutions to conduct real-world epidemiologic research to accurately identify and measure the burden of specific vaccine-preventable diseases and potentially evaluate vaccine effectiveness affecting adults
• In April 2018, Merck, announced partnership with Oxford University’s Jenner Institute to develop more robust and scalable vaccine manufacturing processes. This partnership, as well as plans to develop a vaccine manufacturing facility in Ghana, further the company’s commitment to improve global health by making vaccines more affordable and available

Key Insights Captured in the Report

• Quantitative (market size and forecasts) and qualitative insights of the market across years - historical years, current year and forecasted years
• Deep-rooted insights on headwinds, tailwinds and opportunities prevailing in the market
• Quantitative (market size and forecasts) and qualitative insights at segment and sub-segment level
• Comprehensive quantitative (market size and forecasts) and qualitative insights on geographic, regional and country level markets
• Granular insights on the competitive landscape prevailing in the market
• Competitive mapping of strategic developments

Scope of the Vaccines Market Report: