The global vaccines market is expected to reach US$ 64,538.4 Mn in 2027 from US$ 39,128.3 Mn in 2019. The market is estimated to grow with a CAGR of 6.5% from 2020-2027.
The report highlights the trends prevalent in the global vaccines market and the factors driving the market along with those that act as deterrents to its growth.
The vaccines market by technology is segmented into Recombinant vaccines, Conjugate Vaccines, Live Attenuated Vaccines, Inactivated Vaccines, and Toxoid Vaccines. In 2019, the conjugate vaccines segment held a largest market share in the vaccines market,
By Technology. This segment is also expected to dominate the market in 2027 as they are the most effective forms of immunization, used to prevent diseases in both infants and adults. Moreover, the similar segment is anticipated to also witness the fastest growth rate of 6.3% during the forecast period, 2020 to 2027 owing to the increasing demand for drugs to treat the disease.
Driving factors such as , growing focus on immunization programs, increasing support for vaccine development, rising prevalence of infectious diseases. However, the complexity and cost of vaccine manufacturing and soaring costs of vaccines are likely to pose a negative impact on the market growth. On the other hand, robust pipeline of vaccines is likely to have a positive impact on the growth of the global vaccines market in the coming years.
The emergence of coronavirus pandemic is estimated to have significant impact on the vaccines market. Majority of the pharmaceutical companies around the globe are engaged in the development of vaccine for coronavirus. However, this shift of focus for research and development is anticipated to have negative impact on the other segments of the market. Also, the disruptions in supply chain caused due to shut down of global operations are also projected to have adverse impact on the market by certain extent.
Some of the prominent players operating in vaccines market are Pfizer Inc, GlaxoSmithKline plc, Merck & Co.Inc. Sanofi, Johnson & Johnson Services, Inc, Panacea Biotec Limited, Astellas Pharma Inc. NOVAVAX, INC.VBI Vaccines Inc, and Bavarian Nordic. The market players are focused towards bringing new and innovative products and services to sustain their position in the market.
For instance, in December, 2018, The European Commission has granted marketing authorization for Dengvaxia, Sanofi's dengue vaccine. The marketing authorization follows the October 18,2018, recommendation by the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) to approve use of the dengue vaccine in European endemic areas. The developments performed by the companies are helping the market to grow in the coming years.
Key Topics Covered:
1. Introduction 1.1 Scope Of The Study 1.2 Report Guidance 1.3 Market Segmentation
2. Vaccines Market - Key Takeaways
3. Research Methodology
4. Global Vaccines Market - Market Landscape 4.1 Overview 4.2 Pest Analysis
5. Global Vaccines Market - Key Market Dynamics 5.1 Key Market Drivers 5.1.1 Rising Prevalence of Infectious Diseases 5.1.2 Growing Focus on Immunization Programs 5.1.3 Increasing Support for Vaccine Development 5.2 Key Market Restraints 5.2.1 The Complexity And Cost of Vaccine Manufacturing 5.2.2 Soaring Costs of Vaccines 5.3 Key Market Opportunities 5.3.1 Robust Pipeline of Vaccines 5.4 Future Trends 5.4.1 New Vaccine Delivery Systems 5.5 Impact Analysis
6. Vaccines Market - Global Analysis 6.1 Global Vaccines Market Revenue Forecasts And Analysis 6.2 Global Vaccines Market, By Geography - Forecasts And Analysis 6.3 Performance Of Key Players 6.3.1 GlaxoSmithKline plc 6.3.2 Sanofi