Vaccines refer to biological products made from various types of pathogenic microorganisms for vaccination. The vaccine made with bacteria or Borrelia is also called a vaccine. Vaccines are two types, live vaccines, and dead vaccines—the live vaccines include BCG vaccine, polio vaccine, measles vaccine, and plague vaccine. The dead vaccines include pertussis vaccine, typhoid vaccine, meningococcal vaccine, and cholera vaccine.
The production time varies from vaccine to vaccine, and some vaccines can take up to 22 months to produce one batch. The development of a vaccine is a complicated and lengthy process and is costly. Vaccination is the most economical and effective public health intervention to prevent and control infectious diseases. It is also an effective means for families to reduce the incidence of diseases and reduce medical costs.
Global Vaccines Market estimated to grow with a substantial rate during the forecast period, 2020-2027. The high prevalence of infectious diseases, increasing government support for vaccine development, and the rising focus on immunization projected to propel the growth of the global vaccines market in future periods. Moreover, the surge in demand for better healthcare infrastructure and growing awareness regarding the benefits of immunization will boost the global vaccines market size in the coming years. Additionally, the rising prevalence of several diseases along with the growing need to vaccinate children to prevent them from serious diseases will influence the global vaccines market in the forthcoming periods.
In developing countries such as China and India, due to the steady increase in demand for vaccines, the strengthening of the public’s concept of immunization, and the government’s policy guidance and support, the vaccine market has developed and grown at a rapid rate. The increasing incidence of various infectious diseases and the expanding awareness about early disease diagnosis and prevention are estimated to drive the global vaccine industry in the next few years.
Infectious diseases are caused by pathogenic microorganisms like bacteria, viruses, parasites, or fungi. According to WHO, the burden of infectious diseases, including HIV, TB, malaria, hepatitis B, and neglected tropical diseases (NTDs) is higher in low-income countries than in high-income countries. Mortality rates attributed to unsafe water, unsafe sanitation, and lack of hygiene are also highest in low-income countries, as are mortality rates for road traffic injuries and unintentional poisoning.
WHO started the implementation of the Global Vaccine Action Plan (GVAP), WHO’s strategic goals for vaccines is between 2015-2030. This plan promotes some objective such as the development of new vaccines such that it meets public health priorities and establish better rules and regulation for vaccines and delivery technologies that are of assured quality.
WHO implemented a plan for immunization to be effective in preventing morbidity and mortality; every child should fully immunize. There are two ways to measure the efficiency of immunization, such as to measure immunization coverage by each vaccine. Firstly, comparing the number of doses given to the number of infants eligible to receive them and measure drop-out rates. Secondly, comparing the number of infants that started receiving immunizations to the number of infants who received all needed doses of vaccines.
Based on type, the global Vaccines market classified into Monovalent Vaccines and Multivalent Vaccines. The Monovalent Vaccines segment accounts for the largest share of the market in 2019, owing to the growing prevalence of diseases and upsurge in government and non-government initiatives to promote immunization.
The Multivalent Vaccines segment will drive as it helps parents and healthcare providers perceived reduction in pain for the infant, fewer missed opportunities to vaccinate, convenience, and decreased costs for the parent.
Based on technology, the global Vaccine market segregated into Conjugate Vaccines, Inactivated & Subunit Vaccines, Live Attenuated Vaccines, Recombinant Vaccines, and Toxoid Vaccines. The Conjugate Vaccines segment projected to dominate the market by 2027. It is attributed to growing government support and increasing company investments in conjugate vaccine development.
The Recombinant Vaccines segment will influence by its application in animals for the prevention of diseases such as pneumonia, foot and mouth disease, septicemia, and pox disease.
Based on disease indication, the global vaccines market classified into Pneumococcal Disease, DTP, Influenza, HPV, Meningococcal Disease, Polio, Hepatitis, Rotavirus, and Others. The HPV segment estimated to generate maximum revenue in 2019, attributable to the surge in the incidence of cervical cancer coupled with growing awareness about preventive measures.
The Pneumococcal Disease segment will grow by the upsurge in the incidence of pneumococcal disease along with growing government investments in pneumococcal vaccination programs.
Based on the route of administration, the global Vaccines market bifurcates into Intramuscular & Subcutaneous Administration and Oral Administration. Intramuscular & Subcutaneous Administration segment expected to grow with a higher rate owing to this mode of administration is associated with better immune response and a lower rate of injection site reactions.
Based on patient type, the global Vaccines market bifurcates into Pediatric Patients and Adult Patients. Pediatric Patients segment likely to dominate the market by 2027, on account of the increasing awareness about vaccine-preventable diseases among children coupled with various governments’ numerous efforts to increase adult immunization rate.
Based on the distribution channel, the global Vaccines market categorized into Institutional Sales, Hospital Pharmacies, Retail Pharmacies, and Others. Institutional Sales segment accounted for a higher market share in 2019 and maintain its dominance by 2027 as a result of institutional sales like hospitals has created stellar opportunities for growth of the market and provides dedicated sections for vaccination and treatment.
Retail Pharmacies segment will boost attributable to the cost-effectiveness and readily availability of vaccines on pharmacy stores.
Based on geography, the global Vaccines market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America estimated to occupy the lion’s market share by 2027, owing to the rising government support for vaccine development and the high prevalence of infectious diseases in these regions.
The Asia Pacific will drive attributed to the high incidence rate of infectious diseases, growing geriatric population base coupled with various initiatives undertaken by the governments to expand the provision of vaccines in these regions.
Companies such as GlaxoSmithKline plc, Pfizer, Inc., Sanofi Pasteur, Merck & Co., Inc., CSL Limited, Emergent BioSolutions, Inc., Johnson & Johnson, AstraZeneca, Serum Institute of India Pvt. Ltd., Bavarian Nordic, Mitsubishi Tanabe Pharma Corporation, Daiichi Sankyo Company, Limited, Panacea Biotec, Biological E, Bharat Biotech, Sinovac Biotech Ltd., Incepta Vaccine Ltd., Valneva SE, VBI Vaccines Inc., and PT Bio Farma are the key players in the Global Vaccines Market.
By Disease Indication
By Route of Administration
By Patient Type
By Distribution Channel