Abstract
Summary
The global vaccines market size is projected to reach USD 93.8 billion by 2028 from USD 77.6 billion in 2023, at a CAGR of 3.9% during the forecast period. Factors such as high incidence of contagious diseases, innovation in vaccine technology, governmental support & substantial funding for vaccine development, growing vaccination initiatives and strong focus on investing and launching innovative vaccines.
“The conjugate vaccines segment held the dominant share in the vaccines market”
Based on technology, the global vaccines market is segmented into inactivated & subunit vaccines, live attenuated vaccines, toxoid vaccines, viral vector vaccines, recombinant vaccines and conjugate vaccines. The conjugate vaccines segment is anticipated to grow at significant CAGR. Growing governmental support coupled with investment by companies in the field of conjugate vaccine development, increasing collaboration between public and private sectors are likely to have positive impact on the growth of the market.
“Pneumococcal segment accounted for the largest share of the disease indication segment in 2022.”
Based on disease indication, the vaccines market is segmented into, combination vaccines, HPV, meningococcal disease, herpes zoster, rotavirus, MMR, pneumococcal disease, influenza, varicella, hepatitis, DTP, polio, and other disease indications. In 2022, the pneumococcal segment accounted for the largest share of the vaccines market. The segment held the dominant share in the market owing to various factors such increased pneumococcal disease cases, with a rising government investment in vaccination programs.
“Asia Pacific region is likely to grow at a faster pace in the vaccines market.”
The vaccines market region is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and the Africa. Asia Pacific region is anticipated to grow at a significant CAGR during the forecast period. The growth of the region is majorly driven by companies that are upping their investments in Asia-Pacific region, benefiting from increased government support for vaccine development, rising healthcare expenditure in Asian countries, emergence & re-emergence of contagious disease and rising disposable income.
The primary interviews conducted for this report can be categorized as follows:
• By Respondent: Supply Side- 80%, and Demand Side - 20%
• By Designation (Supply Side): Managers - 45%, CXOs & Directors - 30%, Executives- 25%
• By Region: North America -40%, Europe -25%, Asia-Pacific -20%, Latin America -10%, Middle East-4% and Africa -1%
List of Companies Profiled in the Report:
• GSK plc (UK)
• Merck & Co., Inc. (US)
• Pfizer, Inc. (US)
• Sanofi (France)
• CSL (Australia)
• Emergent (US)
• Johnson & Johnson Services Inc. (US)
• AstraZeneca (UK)
• Serum Institute of India Pvt. Ltd. (India)
• Bavarian Nordic (Denmark)
• Mitsubishi Tanabe Pharma Corporation (Japan)
• Daiichi Sankyo Company, Limited (Japan)
• Panacea Biotec (India)
• Biological E. Limited (India)
• Bharat Biotech (India)
• Novavax (US)
• Inovio Pharmaceuticals (US)
• Sinovac (China)
• Incepta Pharmaceuticals (Bangladesh)
• Valneva SE (France),
• VBI Vaccines Inc. (US)
• Bio Farma (Indonesia)
• FSUE NPO Microgen (Russia)
• Zhi fei Biological (China)
• Indian Immunologicals Ltd (India)
Research Coverage:
This report provides a detailed picture of the vaccines market. It aims at estimating the size and future growth potential of the market across different segments such as the technology, type, disease indication, route of administration, end-user and region. The report also includes an in-depth competitive analysis of the key market players along with their company profiles recent developments and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall vaccines market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
• Analysis of key drivers (strong emphasis on investment and launch of novel vaccines, rising prevalence of infectious disease, expanding immunization programs, advancements in vaccine technology and robust government support & funding for the development of vaccines), restraints (High development cost, patent expiry ), opportunities (Increased focus on therapeutic vaccines, robust & strong pipeline) and challenges (stringnent regulatory processes, vaccine supply shortage, frequent product recall) are influencing the growth of clinical trial supplies market.
• Product Development/Innovation: Detailed insights on newly launched products of the vaccines market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the vaccines market across varied regions.
• Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the vaccines market.
• Pipeline Analysis: Comprehensive information about products under clinical trials.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players include GSK plc (UK), Merck & Co., Inc. (US), Pfizer, Inc. (US), Sanofi (France), CSL (Australia), Emergent (US), Johnson & Johnson Services Inc. (US), AstraZeneca (UK), Serum Institute of India Pvt. Ltd. (India), Bavarian Nordic (Denmark).
Table of Contents
1 INTRODUCTION 44
1.1 STUDY OBJECTIVES 44
1.2 MARKET DEFINITION 44
1.3 INCLUSIONS & EXCLUSIONS 45
1.4 MARKET SCOPE 45
1.4.1 MARKETS COVERED 45
1.4.2 REGIONS COVERED 46
1.4.3 YEARS CONSIDERED 46
1.4.4 CURRENCY CONSIDERED 46
1.5 RESEARCH LIMITATIONS 47
1.6 STAKEHOLDERS 47
1.7 SUMMARY OF CHANGES 48
1.8 RECESSION IMPACT: VACCINES MARKET 48
2 RESEARCH METHODOLOGY 49
2.1 RESEARCH DATA 49
2.2 RESEARCH APPROACH 49
2.2.1 SECONDARY DATA 50
2.2.2 PRIMARY DATA 51
- 2.2.2.1 Primary insights 52
2.3 MARKET SIZE ESTIMATION 53
2.3.1 SEGMENTAL ASSESSMENT 55
2.4 GROWTH RATE ASSUMPTIONS 57
2.5 STUDY ASSUMPTIONS 58
2.6 MARKET BREAKDOWN AND DATA TRIANGULATION 59
2.7 RISK ASSESSMENT 60
2.8 IMPACT OF RECESSION IN VACCINES MARKET 60
3 EXECUTIVE SUMMARY 62
4 PREMIUM INSIGHTS 68
4.1 VACCINES MARKET OVERVIEW 68
4.2 NORTH AMERICA: VACCINES MARKET, BY TECHNOLOGY AND COUNTRY, 2022 69
4.3 VACCINES MARKET, BY TECHNOLOGY, 2023 VS. 2028 70
4.4 GEOGRAPHICAL GROWTH OPPORTUNITIES: VACCINES MARKET 70
5 MARKET OVERVIEW 71
5.1 INTRODUCTION 71
5.2 MARKET DYNAMICS 71
5.2.1 DRIVERS 72
- 5.2.1.1 Strong emphasis on launch of novel vaccines 72
- 5.2.1.2 Rising prevalence of infectious diseases 73
- 5.2.1.3 Increasing number of immunization programs 74
- 5.2.1.4 Advancements in vaccine technology 75
- 5.2.1.5 Robust government support and funding for vaccine development 75
5.2.2 RESTRAINTS 76
- 5.2.2.1 High cost of vaccine development 76
5.2.3 OPPORTUNITIES 77
- 5.2.3.1 Increased focus on therapeutic vaccines 77
- 5.2.3.2 Extensive R&D for vaccines and increased investments in clinical trials 77
5.2.4 CHALLENGES 78
- 5.2.4.1 Stringent regulatory processes 78
- 5.2.4.2 Frequent product recalls 78
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 79
5.4 PRICING ANALYSIS 79
5.4.1 AVERAGE SELLING PRICE OF PRODUCTS, BY KEY PLAYERS 79
5.4.2 AVERAGE SELLING PRICE, BY PRODUCT TYPE 82
5.4.3 AVERAGE SELLING PRICE TREND 85
5.5 TECHNOLOGY ANALYSIS 85
5.6 VALUE CHAIN ANALYSIS 85
5.7 PIPELINE ANALYSIS 87
5.7.1 KEY PIPELINE PRODUCTS 91
5.8 ECOSYSTEM MARKET/MAP 92
5.9 REGULATORY ANALYSIS 93
5.9.1 REGULATORY LANDSCAPE FOR VACCINES 93
5.9.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 95
5.10 PORTER’S FIVE FORCES ANALYSIS 98
5.10.1 THREAT OF NEW ENTRANTS 99
5.10.2 THREAT OF SUBSTITUTES 99
5.10.3 BARGAINING POWER OF SUPPLIERS 99
5.10.4 BARGAINING POWER OF BUYERS 99
5.10.5 INTENSITY OF COMPETITIVE RIVALRY 99
5.11 PATENT ANALYSIS 100
5.12 KEY CONFERENCES & EVENTS 101
5.13 KEY STAKEHOLDERS & BUYING CRITERIA 102
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 102
5.13.2 KEY BUYING CRITERIA 103
6 VACCINES MARKET, BY TECHNOLOGY 104
6.1 INTRODUCTION 105
6.2 CONJUGATE VACCINES 105
6.2.1 INCREASING PUBLIC-PRIVATE PARTNERSHIPS TO DRIVE MARKET 105
6.3 RECOMBINANT VACCINES 108
6.3.1 LESSER POST-VACCINATION REACTIONS AND REDUCED NEED FOR BOOSTER DOSES TO DRIVE MARKET 108
6.4 INACTIVATED & SUBUNIT VACCINES 112
6.4.1 EASE OF STORAGE AND TRANSPORTATION TO DRIVE MARKET 112
6.5 LIVE ATTENUATED VACCINES 116
6.5.1 HIGH COST OF STORAGE AND LIMITED FINANCIAL RESOURCES OF DISTRIBUTORS TO LIMIT MARKET 116
6.6 TOXOID VACCINES 119
6.6.1 RISING PREVALENCE OF BACTERIAL INFECTIONS AMONG INFANTS AND CHILDREN TO DRIVE MARKET 119
6.7 VIRAL VECTOR VACCINES 123
6.7.1 INCREASING INVESTMENT IN NOVEL VACCINE DEVELOPMENT TO DRIVE MARKET 123
6.8 M-RNA VACCINES 126
6.8.1 INCREASING INVESTMENT IN M-RNA VACCINE DEVELOPMENT TO DRIVE MARKET 126
6.9 OTHER VACCINES 129
7 VACCINES MARKET, BY TYPE 133
7.1 INTRODUCTION 134
7.2 MONOVALENT VACCINES 134
7.2.1 INCREASING INVESTMENT IN R&D AND RISING PREVALENCE OF INFECTIOUS DISEASES TO DRIVE MARKET 134
7.3 MULTIVALENT VACCINES 138
7.3.1 INCREASED NEED FOR IMMUNIZATION AND COST-EFFECTIVENESS TO DRIVE MARKET 138
8 VACCINES MARKET, BY DISEASE INDICATION 143
8.1 INTRODUCTION 144
8.2 PNEUMOCOCCAL DISEASE 144
8.2.1 INCREASING INCIDENCE OF PNEUMONIA IN CHILDREN TO DRIVE MARKET 144
8.3 INFLUENZA 148
8.3.1 RISING NEED FOR IMMUNIZATION AGAINST VIRAL INFECTIONS TO DRIVE MARKET 148
8.4 COMBINATION VACCINES 152
8.4.1 GROWING DEMAND FOR ALL-IN-ONE VACCINE TO DRIVE MARKET 152
8.5 HPV 156
8.5.1 GROWING INCIDENCE OF SEXUALLY TRANSMITTED DISEASES TO DRIVE MARKET 156
8.6 MENINGOCOCCAL DISEASE 160
8.6.1 INCREASING INITIATIVES BY GOVERNMENT AND NON-GOVERNMENT ORGANIZATIONS TO DRIVE MARKET 160
8.7 HERPES ZOSTER 163
8.7.1 INCREASING INVESTMENT IN NOVEL VACCINE DEVELOPMENT TO DRIVE MARKET 163
8.8 ROTAVIRUS 166
8.8.1 GROWING FOCUS OF GOVERNMENT AND NON-GOVERNMENT BODIES ON ROTAVIRUS PREVENTION TO DRIVE MARKET 166
8.9 MMR 170
8.9.1 RISING INCIDENCE OF MEASLES, MUMPS, AND RUBELLA TO DRIVE MARKET 170
8.10 VARICELLA 173
8.10.1 INCREASING PROMOTION OF IMMUNIZATION PROGRAMS TO DRIVE MARKET 173
8.11 HEPATITIS 176
8.11.1 LOW SOCIO-ECONOMIC STANDARDS OF LIVING AND HIGH CONTAMINATION IN DRINKING WATER TO DRIVE MARKET 176
8.12 DTP 180
8.12.1 INCREASED OCCURRENCE OF DIPHTHERIA, TETANUS, AND PERTUSSIS IN EMERGING ECONOMIES TO DRIVE MARKET 180
8.13 POLIO 183
8.13.1 INCREASING GOVERNMENT INITIATIVES AND IMMUNIZATION PROGRAMS TO DRIVE MARKET 183
8.14 OTHER DISEASE INDICATIONS 186
9 VACCINES MARKET, BY ROUTE OF ADMINISTRATION 191
9.1 INTRODUCTION 192
9.2 INTRAMUSCULAR AND SUBCUTANEOUS ADMINISTRATION 192
9.2.1 EASIER ABSORPTION INTO BLOODSTREAM AND BETTER IMMUNE RESPONSE TO DRIVE MARKET 192
9.3 ORAL ADMINISTRATION 196
9.3.1 EASE OF ADMINISTRATION AND REDUCED RISK OF BLOOD-TRANSMITTED INFECTIONS TO DRIVE MARKET 196
9.4 OTHER ROUTES OF ADMINISTRATION 199
10 VACCINES MARKET, BY END USER 203
10.1 INTRODUCTION 204
10.2 PEDIATRIC VACCINES 204
10.2.1 INCREASED INITIATIVES BY GOVERNMENT AND NON-GOVERNMENT BODIES TO DRIVE MARKET 204
10.3 ADULT VACCINES 207
10.3.1 ADULT VACCINES SEGMENT TO COMMAND LARGER MARKET SHARE DURING FORECAST PERIOD 207
11 VACCINES MARKET, BY REGION 212
11.1 INTRODUCTION 213
11.2 NORTH AMERICA 213
11.3 NORTH AMERICA: RECESSION IMPACT 217
11.3.1 US 218
- 11.3.1.1 US to dominate North American vaccines market during forecast period 218
11.3.2 CANADA 221
- 11.3.2.1 High incidence of infectious diseases to drive market 221
11.4 EUROPE 224
11.5 EUROPE: RECESSION IMPACT 227
11.5.1 GERMANY 227
- 11.5.1.1 Significant R&D investments and growing biotechnology industry to drive market 227
11.5.2 UK 231
- 11.5.2.1 Launch of new products and increased funding by government and non-government organizations to drive market 231
11.5.3 FRANCE 234
- 11.5.3.1 Favorable government initiatives for mass immunization to drive market 234
11.5.4 ITALY 237
- 11.5.4.1 Higher investments by companies for increased production capacities to drive market 237
11.5.5 SPAIN 240
- 11.5.5.1 Rising investments in vaccine development by private organizations to drive market 240
11.5.6 REST OF EUROPE 243
11.6 ASIA PACIFIC 246
11.7 ASIA PACIFIC: RECESSION IMPACT 250
11.7.1 JAPAN 251
- 11.7.1.1 Increasing government initiatives for improving quality of vaccines to drive market 251
11.7.2 SOUTH KOREA 253
- 11.7.2.1 Strong government strategies for improved vaccine hubs to drive market 253
11.7.3 CHINA 256
- 11.7.3.1 Growing investments in biotechnology sector to drive market 256
11.7.4 INDIA 259
- 11.7.4.1 Increasing government initiatives and development of new and improved vaccines to drive market 259
11.7.5 REST OF ASIA PACIFIC 262
11.8 LATIN AMERICA 265
11.9 LATIN AMERICA: RECESSION IMPACT 268
11.9.1 BRAZIL 268
- 11.9.1.1 Rising focus on immunization programs by government and non-government bodies to drive market 268
11.9.2 MEXICO 271
- 11.9.2.1 Presence of well-trained health professionals and ethnically varied population base for clinical trials to drive market 271
11.9.3 REST OF LATIN AMERICA 274
11.10 MIDDLE EAST & AFRICA 277
11.10.1 MIDDLE EAST 277
- 11.10.1.1 Increasing prevalence of infectious diseases to drive market 277
11.10.2 AFRICA 280
- 11.10.2.1 Availability of funds and grants from developed economies to drive market 280
11.10.3 MIDDLE EAST & AFRICA: RECESSION IMPACT 283
12 COMPETITIVE LANDSCAPE 284
12.1 INTRODUCTION 284
12.2 KEY STRATEGIES/RIGHT TO WIN 284
12.3 STRATEGIES OF KEY PLAYERS IN VACCINES MARKET 284
12.4 REVENUE SHARE ANALYSIS 287
12.5 MARKET SHARE ANALYSIS 287
12.6 COMPANY EVALUATION MATRIX 289
12.6.1 STARS 289
12.6.2 EMERGING LEADERS 289
12.6.3 PERVASIVE PLAYERS 289
12.6.4 PARTICIPANTS 290
12.6.5 COMPANY FOOTPRINT 291
- 12.6.5.1 Product footprint 291
- 12.6.5.2 Regional footprint 292
12.7 START-UP/SME EVALUATION MATRIX 293
12.7.1 PROGRESSIVE COMPANIES 293
12.7.2 RESPONSIVE COMPANIES 293
12.7.3 DYNAMIC COMPANIES 293
12.7.4 STARTING BLOCKS 294
12.7.5 COMPETITIVE BENCHMARKING 295
12.8 COMPETITIVE SCENARIOS AND TRENDS 296
12.8.1 KEY PRODUCT LAUNCHES AND APPROVALS 296
12.8.2 KEY DEALS 297
12.8.3 OTHER KEY DEVELOPMENTS 298
13 COMPANY PROFILES 299
13.1 KEY PLAYERS 299
13.1.1 PFIZER INC 299
13.1.2 MERCK & CO., INC 305
13.1.3 GSK PLC 310
13.1.4 SANOFI 317
13.1.5 CSL 322
13.1.6 EMERGENT 327
13.1.7 JOHNSON & JOHNSON SERVICES, INC 330
13.1.8 ASTRAZENECA 333
13.1.9 SERUM INSTITUTE OF INDIA PVT., LTD 336
13.1.10 BAVARIAN NORDIC 341
13.1.11 MITSUBISHI TANABE PHARMA CORPORATION 345
13.1.12 DAIICHI SANKYO COMPANY, LIMITED 347
13.1.13 PANACEA BIOTEC 350
13.1.14 BIOLOGICAL E LIMITED 353
13.1.15 BHARAT BIOTECH 357
13.1.16 NOVAVAX 360
13.1.17 INOVIO PHARMACEUTICALS 363
13.2 OTHER PLAYERS 366
13.2.1 SINOVAC 366
13.2.2 INCEPTA PHARMACEUTICALS LTD 367
13.2.3 VALNEVA SE 369
13.2.4 VBI VACCINES INC 370
13.2.5 BIO FARMA 371
13.2.6 FSUE NPO MICROGEN 373
13.2.7 ZHIFEI BIOLOGICAL PRODUCTS CO., LTD 374
13.2.8 INDIAN IMMUNOLOGICALS LIMITED 375
14 APPENDIX 376
14.1 DISCUSSION GUIDE 376
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 380
14.3 CUSTOMIZATION OPTIONS 382
14.4 RELATED REPORTS 382
14.5 AUTHOR DETAILS 383