The market will register a 10.2% CAGR during the forecast period of 2020 to 2025. The global market is expected to reach US$54,684.8 Mn by 2025 from US$33,572.5 Mn in 2020.
The global vaccines market is poised to witness a spike in earnings between 2020 and 2025 as the demand for immunization to curb the COVID-19 pandemic remains urgent. Unflinching support from the governments for the research and manufacturing of vaccines across various pharmaceutical facilities is expected to bode well for the market.
The rise of infectious diseases, such as COVID-19, has generated an immediate demand, creating a short-term spike and opportunity for the market. In terms of volume, the global Vaccines market is expected to attain a 6.5%CAGR. The global vaccines market is expected to reach 5,595.4 Mn doses in 2020 to 7,675.1 Mn doses in 2025.
Pneumococcal Conjugate Vaccine's Popularity in Developing Countries to Keep Segment in the Lead
According to the World Health Organization, vaccination for pneumococcal diseases is carried out across 42 countries, including the most populated ones such as India and China. These diseases continue to be the key cause of mortality amongst children and adults. The most commonly seen form of pneumococcal diseases are pneumonia and meningitis. Efforts to reduce the pressure on healthcare systems and improve life spans is expected to retain pneumococcal conjugate vaccine's (PCV) status as indispensable across immunization program. These factors are estimated to keep the segment in the lead during the forecast period.
COVID-19 becomes Turning Point for Asia Pacific to Attain Leadership in Global Vaccines Market
The publisher indicates that the Asia Pacific vaccines market is paving the way as developing economies have immunization programs that developed countries do not have. Vaccination strategies in developing countries are primarily meant for public health intervention to contain the spread of diseases such as polio, measles, meningitis, and others. Furthermore, as most of the countries in Asia Pacific are under The Global Alliance for Vaccines and Immunizations (GAVI), the regional market is expected to lead in the forthcoming years.
In addition, India's leadership in COVID-19 vaccine production and distribution is also expected to contribute to the regional market. With two top contenders based in India, Serum Institute of India Pvt. Ltd. and Bharat Biotech are expected to be the biggest providers of national immunization for their own citizens and cater to the world's vaccine need. Thus, the author anticipates that the pandemic will tip the balance in favour of Asia Pacific vaccines market throughout the forecast period.
Difficult to Crack Barrier to Entry Prevents Competition in Vaccines Market
The global vaccines market is tightly held by few players, making it oligopolistic. GlaxoSmithKline plc., Pfizer Inc., Merck KGaA, and Sanofi hold a lion's share of 90% in the global market in terms of value, while Serum Institute of India Pvt. Ltd., Bharat Biotech, Sanofi, and GlaxoSmithKline plc. manufacture 60% of the vaccines.
As research, development, and production remains a highly knowledge-based process, the market has inherent high standards that are difficult to crack for the new entrants. Furthermore, the capital-intensive nature of setting up production units that demand utmost precision, continuous monitoring, top clearances, and unbreachable storage facilities make it difficult for new players to crack the code.
The key players studied in this report are China National Pharmaceutical Group Corporation (Sinopharm), Serum Institute of India Pvt. Ltd., Novavax, Moderna, Mitsubishi Tanabe Pharma Corporation, Emergent BioSolutions Inc., and CSL Limited (Seqirus).
Key Highlights for Global Vaccines Market:
Shingles vaccine eyes has the highest CAGR among vaccines with 15.5% in terms of value and 11.6% in terms of volume during the forecast period
Americas (AMRO) to stand out as a region in terms of revenue while South and East Asia (SEARO) is the leading region with the highest volume by end of the forecast period
Within the country group, self-procuring, high-income countries (HICs) to acquire a market share of 65% by 2025 in terms of revenue. Meanwhile, self-procuring middle-income countries (MICs) to reach 51% by 2025 in terms of volume
Vaccine manufacturing remains concentrated with four large manufacturers - GlaxoSmithKline plc., Pfizer Inc., Merck KGaA, and Sanofi - who control 90% of global Vaccines market value
Mid-size manufacturers, mostly in Asia, are expanding their portfolios to compete in regional and new Vaccines markets, such as HPV and PCV, offering additional and often more affordable choices.
5. Global Vaccines Market Outlook, By Vaccine, 2017-2025 5.1. Key Highlights 5.2. Global Vaccines Market Outlook, by Vaccine, Value (US$ Million) and Volume (million), 2017 - 2025 5.2.1. PCV 5.2.2. D&T-containing 5.2.3. HPV 5.2.4. Seasonal Influenza 5.2.5. Shingles 5.2.6. Rotavirus 5.2.7. Meningococcal 5.2.8. MCVs 5.2.9. Varicella 5.2.10. COVID-19 5.2.11. Others 5.3. Global Vaccines Market Share and BPS(Basis Points) Analysis, by Vaccine, 2020 and 2025 5.4. Global Vaccines Market Attractiveness Analysis, by Vaccine, 2020-2025
6. Global Vaccines Market Outlook, By Country Group , 2017-2025 6.1. Key Highlights 6.2. Global Vaccines Market Outlook, by Country Group, Value (US$ Million) and Volume (million), 2017 - 2025 6.2.1. PAHO RF (Pan American Health Organization) 6.2.2. Self-procuring HICs(High Income Countries) 6.2.3. Self-procuring MICs(Middle Income Countries) 6.2.4. UNICEF (GAVI - Global Alliance for Vaccines and Immunizations ) 6.2.5. UNICEF-procuring MICs(Middle Income Countries) 6.3. Global Vaccines Market Share and BPS(Basis Points) Analysis, by Country Group, 2020 and 2025 6.4. Global Vaccines Market Attractiveness Analysis, by Country Group, 2020-2025
7. Global Vaccines Market Outlook, By Region, 2017-2025 7.1. Key Highlights 7.2. Global Vaccines Market Outlook, by Region, Value (US$ Million) and Volume (million), 2017 - 2025
8. Global Vaccines Market Outlook, By Company, 2017-2025 8.1. Key Highlights 8.2. Global Vaccines Market Outlook, by Company, Value (US$ Million) and Volume (million), 2017 - 2025 8.2.1. AstraZeneca 8.2.2. GlaxoSmithKline plc. 8.2.3. Johnson & Johnson 8.2.4. Merck & Co., Inc. 8.2.5. Moderna, Inc. 8.2.6. Novavax 8.2.7. Pfizer Inc. 8.2.8. Sanofi Pasteur 8.2.9. Others 8.2. Global Vaccines Market Share and BPS(Basis Points) Analysis, by Company, 2020 and 2025 8.3. Global Vaccines Market Attractiveness Analysis, by Company, 2020-2025
9. Competitive Landscape 9.1. Company Market Share Analysis, 2019 9.2. Company Profiles 9.3.1. CSL Limited (Seqirus) 184.108.40.206. Company overview 220.127.116.11. Financial performance 18.104.22.168. Product Portfolio 22.214.171.124. Research and Development 126.96.36.199. Recent Developments 9.3.2. Emergent BioSolutions Inc. 9.3.3. GlaxoSmithKline plc. 9.3.4. Haffkine Bio-pharmaceutical Corporation Ltd. 9.3.5. Merck & Co., Inc. 9.3.6. Mitsubishi Tanabe Pharma Corporation 9.3.7. Moderna 9.3.8. Novavax 9.3.9. Pfizer Inc. 9.3.10. Sanofi Pasteur 9.3.11. Serum Institute of India Pvt. Ltd. 9.3.12. Sinopharm