Vaccines Market to grow by USD 28.28 billion from 2021 to 2026 | North America to account for 48% of market growth- Technavio
NEW YORK, Sept. 7, 2023 /PRNewswire/ -- The vaccine market is expected to grow by USD 28.28 billion from 2021 to 2026. In addition, the momentum of the market will progress at a CAGR of 4.13% during the forecast period, according to Technavio. The market has been segmented by type (prophylactic vaccines and therapeutic vaccines) and geography (North America, Europe, Asia, and Rest of World (ROW)). North America is estimated to contribute 48% to the growth of the global market during the forecast period. This is due to the expansion of vaccination initiatives and the continued emergence of infectious diseases such as influenza, hepatitis A, hepatitis B, HIV, measles, malaria, tuberculosis, and non-communicable diseases. The US has seen a gradual decline in diseases like mumps, measles, and rubella (MMR), but it is still difficult to completely rule out. As a result, the government has partnered with private entities to increase research and development against these diseases. For example, GlaxoSmithKline plc applied for FDA approval in August 2021 for PRIORIX, the company's research MMR vaccine. In addition, efforts to create therapeutic and preventive vaccines promise safer and more effective treatment options for patients. Hence, these factors are expected to drive market growth in the region during the forecast period. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read PDF Sample Report
Company Profile:
Astellas Pharma Inc., AstraZeneca Plc, Bavarian Nordic AS, Bharat Biotech Ltd., BrightPath Biotherapeutics Co. Ltd., CSL Ltd., Daiichi Sankyo Co. Ltd., Emergent BioSolutions Inc., GlaxoSmithKline Plc, Gradalis Inc., Inovio Pharmaceuticals Inc., Johnson and Johnson, Merck and Co. Inc., Mitsubishi Chemical Holdings Corp., Novavax Inc., Pfizer Inc., Sanofi, Serum Institute of India Pvt. Ltd., Takeda Pharmaceutical Co. Ltd., and Valneva SE
Vendor Offering
- Astellas Pharma Inc. - The company offers a vaccine namely MAPS vaccine targeted to prevent and reduce the spread of pneumococcal disease.
To gain access to more vendor profiles available with Technavio, buy the report!
Vaccines Market: Segmentation Analysis
The market is segmented by type (prophylactic vaccines and therapeutic vaccines) and geography (North America, Europe, Asia, and Rest of World (ROW)).
- The prophylactic vaccines segment is expected to experience significant growth in the vaccine market share during the forecast period. Prophylactic vaccines are divided into several categories, such as Live Absentant Vaccines, Inactivated Vaccines, Recombinant Vaccines, and Toxoid Vaccines.
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report
"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio
Vaccines Market: Market Dynamics
Key Drivers
- Increased funding for vaccine development and new vaccine launches
- Approval of vaccines and a strong pipeline
- Increasing use of adjuvants in vaccines
Increased funding for vaccine development and new vaccine launches is a key factor driving market growth. Several serious infectious diseases have been eliminated because of vaccine research and development. However, vaccine manufacturers must make an investment in their technological capabilities if they want to understand the life cycle management and strict development timelines. As a result, it is important that producers, regulators, and suppliers work together to identify challenges and opportunities in the development of vaccines. To develop and launch new vaccines, several companies and organizations around the world have increased their funding. For example, in March 2021, the Russian Direct Investment FundRDIF proposed investing approximately USD10 million into a Hyderabad-based company Virchow Biotech to produce as many as 200 million Sputnik V vaccine doses in India. Hence, the increased funding for vaccine development and new vaccine launches is expected to drive market growth during the forecast period.
Major Trend
The development of nanoparticle vaccines is a major trend in the market. Nanoparticle vaccines, due to their benefits, have gained prominence in research and development, demonstrating promising immune system enhancement through nanoformulations. Identify key trends, drivers, and challenges in the market. Download to gain access to this information.
Related Reports:
The travel vaccines market is estimated to grow at a CAGR of 8.64% between 2022 and 2027. The market size is forecasted to increase by USD 3,715.53 million. This travel vaccines market report extensively covers market segmentation by disease type (influenza, diphtheria, hepatitis, typhoid, and others), end-user (adult vaccines and pediatric vaccines), and geography (North America, Europe, Asia, and Rest of the World (ROW)). The increase in awareness about vaccine-preventable diseases among travelers is notably driving market growth.
The human combination vaccines market is estimated to accelerate by USD 6,046.98 million between 2022 and 2027 and the vaccine market size forecast is expected to increase at a CAGR of 8.13%. This human combination vaccines market report extensively covers market segmentation by type (inactivated vaccine and live attenuated vaccine), channel (hospitals, retailers, and online), and geography (North America, Europe, Asia, and the Rest of the World). The rise in cases of infectious diseases is notably driving the market growth.
What are the key data covered in this vaccine market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the vaccines market between 2021 and 2026.
- Precise estimation of the vaccines market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the mental health industry across North America, Europe, Asia, and ROW
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of vaccines market vendors.
ToC:
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Sizes
- Five Forces Analysis
- Market Segmentation by Type
- Market Segmentation by Geography
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, & Trends
- Company Landscape
- Company Analysis
- Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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