USD 70.68 Billion
Report ID:
SQMIG35H2262 |
Region:
Global |
Published Date: November, 2024
Pages:
212
|Tables:
147
|Figures:
71
Vaccines Market size was valued at USD 74.66 Billion in 2023 and is poised to grow from USD 77.42 Billion in 2024 to USD 103.54 Billion by 2032, growing at a CAGR of 3.70% during the forecast period (2025-2032).
Rising prevalence of chronic diseases around the world and growing emphasis on healthcare are projected to bolster the demand for vaccines in the future. Advancements in medical technology and high investments in the research and development of novel vaccines are projected to create new opportunities for vaccines market players over the coming years. Growing emphasis on preventive healthcare will also promote the adoption of vaccines across the study period and beyond. Launch of new immunization programs, growing awareness regarding importance of vaccination, launch of vaccination drives, and advancements in vaccine technology are also projected to create new opportunities for vaccines market players in the long run. On the contrary, misinformation regarding vaccines, high costs of development, and stringent regulatory frameworks are projected to hamper the overall vaccines market development potential in the future.
Global Market Size
USD 70.68 Billion
Largest Segment
Subunit Vaccines
Fastest Growth
Viral vector vaccines
Growth Rate
5.7% CAGR
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Global Vaccines Market is segmented by Technology, Type, Disease Indication, Route of Administration, End User, and region. Based on Technology, the market is segmented into Conjugate Vaccines, Recombinant Vaccines, Inactivated & Subunit Vaccines, Live Attenuated Vaccines, Toxoid Vaccines, Viral Vector Vaccines, MRNA Vaccines, and Other Vaccines. Based on Type, the market is segmented into Multivalent Vaccines, and Monovalent Vaccines. Based on Disease Indication, the market is segmented into Pneumococcal Disease, Influenza, Combination Vaccines, HPV, Meningococcal Disease, Herpes Zoster, Rotavirus, MMR, Varicella, Hepatitis, DTP, Polio, RSV, and Other Disease Indications. Based on Route of Administration, the market is segmented into Oral Route (PO), Intranasal Route (NAS), Subcutaneous Route (Subcut), Intramuscular Route (IM). Based on End User, the market is segmented into Adult Vaccines, and Pediatric Vaccines. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Type
mRNA vaccines are projected to spearhead the global vaccines market growth potential. Advancements in mRNA technologies and rising awareness regarding efficacy of mRNA vaccines are helping this segment maintain a high market share. The high adaptability of mRNA vac of mRNA vaccines to new viruses and bacterial genomes is what is driving its popularity around the world. The global success of mRNA COVID vaccines is a testament to how opportune this segment can be for market players in the future.
On the other hand, the surging prevalence of infectious diseases around the world is projected to bolster the demand for subunit vaccines at a rapid pace over the coming years. Rising emphasis on preventive healthcare will be a prime factor in promoting sales of subunit vaccines in the future. Moreover, these vaccines can also be developed and adjusted for chronic diseases whose prevalence is rising rapidly on a global level.
Analysis by Age Group
Demand for vaccines for adults is projected to account for a massive share of the global market. Rising emphasis on vaccination of adults to new diseases and growing awareness regarding importance of vaccination is helping this segment maintain a dominant stance going forward. Surging awareness regarding preventive healthcare around the world will also promote the use of vaccines among adults in the future.
Meanwhile, the demand for vaccines pediatric population is projected to increase at a rapid pace over the coming years. Growing birth rates around the world and rising emphasis on vaccination from several diseases such as polio and hepatitis are forecasted to bolster market growth via this segment in the future. Launch of new programs and initiatives to promote vaccination among kids will also help boost the sales of vaccines in this segment going forward.
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The Asia Pacific region is projected to account for a dominant share of the global vaccines demand outlook. Growing awareness regarding importance of vaccination and launch of new vaccination programs are projected to help this region maintain high market share. Rising healthcare expenditure, growing availability of novel vaccines, and rising emphasis on preventive healthcare are key factors that contribute to the dominance of this region. Rising birth rates and growing geriatric population will also offer new opportunities for vaccines companies. India and China are slated to be the most rewarding markets for vaccine providers in this region.
The demand for vaccines in North America is estimated to rise at a robust pace over the coming years. Launch of new government initiatives to promote immunization and awareness regarding preventive healthcare are slated to boost sales of vaccines in the future. The United States is projected to spearhead revenue generation in this region owing to the presence of a developed healthcare infrastructure and key vaccine development companies. Rising investments in medical R&D are also expected to help this region remain a highly opportune for all market players.
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Drivers
Rising Awareness Regarding Preventive Healthcare
Development of Novel Vaccines
Restraints
High Costs of Development
Stringent Regulations for Vaccine Development
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Investing in the development of vaccines for different diseases could help companies expand their business scope. Taking advantage of supportive government initiatives will help vaccines market players keep their development costs low. Vaccines companies can also benefit from the launch of new immunization programs and vaccine drives around the world. Incorporating advanced technologies and gaining approvals for novel vaccines will also be key focus of all companies.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing prevalence of chronic diseases and rising emphasis on preventive healthcare are projected to boost sales of vaccines over the coming years. However, high costs of development and strict regulatory framework are projected to impede vaccines market development potential. Asia Pacific region is projected to spearhead sales of vaccines owing to the presence of a massive population base and growing awareness regarding vaccination. Development of combination and personalized vaccines will offer new opportunities for vaccines companies across the study period and beyond.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 74.66 Billion |
Market size value in 2032 | USD 103.54 Billion |
Growth Rate | 3.70% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Vaccines Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Vaccines Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Vaccines Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Vaccines Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35H2262
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