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Vaccines Market Size, Share & Industry Analysis, By Type (Recombinant/Conjugate/Subunit, Inactivated, Live Attenuated), By Route of Administration (Parenteral & Oral), By Disease Indication (Viral Diseases (Hepatitis, Influenza, Human Papillomavirus) and Bacterial Diseases (Meningococcal, Pneumococcal)), By Age Group (Pediatric & Adults), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers) & Region Forecast, 2019-2026

Region : Global | Format: PDF | Report ID: FBI101769

 

KEY MARKET INSIGHTS

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Vaccines are the most powerful and cost-effective way to protect billions of population around the world. Current and emerging scientific knowledge can help overcome diseases that kill millions of people worldwide. Vaccine development has the potential to transform health by almost eliminating the burden of life-threatening infectious diseases among the population of the affluent nations. World Health Organization (WHO) states that immunization awareness and government initiatives have helped in preventing 2-3 million deaths annually. Greater investments coupled with merging and partnerships of companies are boosting the production and sales of vaccines all over the world.   


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One of the biggest challenges faced by organizations and companies around the world is the ongoing trial and error for effective vaccines to fight diseases such as malaria, HIV, and tuberculosis. Government and pharmaceutical companies are making enormous efforts in establishing arrangements for the development of vaccines for such diseases. Additionally, increasing prevalence of endemic and infectious diseases and unmet needs in the under-developing nations is anticipated to propel the growth of the vaccines market during the forecast period. 


Combined with the above-mentioned scenario, government vaccination implementation programs & policies coupled with provision for immunization coverage is also likely to impact the market value and register a stellar growth over the forecast period.


MARKET DRIVERS


“Strong Supply Backed Up By Robust R&D to Drive the Vaccines Market”


One of the crucial and significant drivers for market growth is the increasing supply of vaccines across the globe to meet the unmet needs and abide by the immunization policies to eradicate endemic diseases. Pharmaceutical companies, government foundations, international organizations, and hospitals are strongly focused on providing cost-effective and regular immunization to people worldwide. Government surveillance in all the countries has become active in ensuring that every individual is vaccinated by recommended vaccines at a minimum cost or no cost. For instance, the pneumococcal conjugate vaccine was rolled out by the Universal Immunization Programme (UPI) to 21 lakh children in Himachal Pradesh and parts of Bihar in India. Escalating demand for vaccines is one of the key factors for the rising contribution in the billion dollars market value of the vaccines. Moreover, government funding and company investments are boosting the R&D sector for launching novel vaccines.


“Competitive Pipeline to Expand the Global Vaccines Market Value During the Forecast Period”


Another critical factor driving the vaccine market is the competitive pipeline, including products of major as well as emerging players. Being a vast and heterogeneous market, the players are struggling in getting approvals from the regulatory bodies for their products. Continuous R&D and focus on launching novel vaccines in the market is the current challenge accepted by every company. Increasing demand for effective vaccines against diseases such as malaria, dengue is the forefront aim of pharmaceutical companies. Companies such as Novavax, Inovio Pharmaceuticals, and Bavarian Nordic are among the top 10 players expected to have opportunities for their pipeline products in the foreseeable period. GSK, Merck, Sanofi, and Pfizer also have potential pipeline candidates that are expected to contribute positively to the vaccines market growth.


SEGMENTATION


By Type Analysis


“Effectiveness of Recombinant/Conjugate/Subunit Segment to Generate the Highest Market Value”


The vaccine type segment of the market is categorized into recombinant/conjugate/subunit, inactivated, live attenuated, and toxoid vaccines.


Ability to elicit an appropriate immune response, long term protection, and simplified large scale manufacturing are responsible for higher production, sales, and demand of recombinant/subunit/conjugate vaccines. These vaccines are also generally preferred as they pose no risk of pathogenicity. Additionally, recombinant/conjugate/subunit vaccines are anticipated to have a higher CAGR as well owing to the availability of various delivery systems options.  Recently, USFDA approved Vaxelis, a combination vaccine against DTP. This vaccine was developed by Sanofi and MSD under joint-partnership.


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Inactivated vaccines show the second dominant position in the vaccines market owing to the surge in demand for influenza and hepatitis A & B vaccines in the market. The increasing prevalence of seasonal influenza in the emerging countries is likely to contribute to the higher revenue generation of inactivated vaccines type. Live attenuated and toxoid segments are predicted to witness steady growth during the forecast period owing to lower revenue generation as compared to other vaccine types.


By Route of Administration Analysis


“Higher Revenue Generation of Parenteral Vaccines Accounted for Majority Market Share”


On the basis of the route of administration, the vaccines market is segmented into parenteral and oral. The maximum supply and sales of parenteral route vaccines across the globe have led to the generation of larger revenue by parenteral vaccines in the year 2018. This dominance is likely to remain constant throughout the forecast period owing to the increasing prevalence of bacterial and viral diseases. Moreover, higher procurement volume by governmental organizations is likely to increase the demand for parenteral vaccines reflecting higher revenue generation during the forecast period.


The oral vaccines segment is predicted to witness a comparatively slower growth rate owing to challenges faced in developing oral vaccines. The oral vaccines formulations are required to overcome the harsh gastrointestinal environment and avoid tolerance induction to achieve effectiveness. This is the current pharmaceutical challenge for all the companies before planning to launch oral vaccines into the market.


By Disease Indication Analysis


“Growing Demand for Bacterial Vaccines to Dominate the Global Market”


On the basis of disease indication, the global market can be segmented into viral diseases (hepatitis, influenza, human papillomavirus, measles/mumps/rubella, rotavirus, herpes zoster, and others) and bacterial diseases (meningococcal disease, pneumococcal disease, diphtheria/tetanus/pertussis, and others). Bacterial diseases segment holds the dominant position in the vaccine market revenue owing to higher sales of pneumococcal, meningitis and DTP vaccines across the globe. These vaccines are the first-line immunization for a newborn as well as booster doses for pediatrics.


Viral diseases segment is forecasted to have the highest CAGR owing to the upcoming launch of viral vaccines and an increase demand for sales of HPV vaccines and influenza vaccines. Recently, Janssen Pharmaceutical Companies announced that it will be providing 200,000 Ebola vaccines regimen to the citizens of Rwanda in East Africa, aiming to prevent them from Ebola outbreak.


By Age Group Analysis


“Increase in Pediatric Vaccines Doses Responsible for Majority Market Share”


Based on the age group the vaccines market can be classified as pediatric and adults. Pediatric vaccines hold the highest market share in terms of value. The potential size of the pediatric vaccines market is mainly depended on two factors; worldwide growing birth cohort and increasing pediatric vaccination doses. According to the World Health Organization (WHO), during 2018 about 86% of the infants worldwide received 3 doses of DTP-3 vaccine that protects against diphtheria-tetanus-pertussis.


Adult vaccines are anticipated to register a higher CAGR owing to a rise in research & development of adult vaccines, and strong vaccines pipeline with upcoming adult vaccines launch is likely to increase the growth of the segment during the forecast period.


By Distribution Channel Analysis


“GAVI, PAHO, UNICEF, etc. to Accelerate the Delivery of Vaccines Across the Globe”


On the basis of the distribution channel, the vaccines market trends can be segmented into hospital & retail pharmacies, government suppliers and others. Hospital & retail pharmacies is anticipated to have a dominant revenue share because vaccinations are a shorter duration procedure often conducted at smaller institutions. Also, people prefer nearby vaccination access. Hospital and retail pharmacies across the globe are under government surveillance to ensure vaccines demand is met and have adequate vaccine stock.


International government bodies such as Global Alliance for Vaccines and Immunization (GAVI), The United Nations Children's Fund (UNICEF), Pan American Health Organization (PAHO), and others are collectively focused on achieving a sustainable supply of vaccines throughout the globe. These organizations procure the vaccines from the manufacturers in millions of doses and mainly focus on supplying to countries having the lesser reach to vaccines. The organizations are in a full swing expanding their reach to countries of Africa, Middle East, lower regions of Asia Pacific, Latin America and Europe. This is anticipated to boost the market value of government suppliers' distribution channel over the forecast period.


REGIONAL ANALYSIS


North America generated a revenue of USD 22.03 billion in 2018 and is anticipated to emerge dominant in the global market during the forecast period. Steady and dominant growth of the North America vaccines market is expected to be due to the number of factors that includes vaccine awareness, the presence of strong manufacturers, and secure government policy regarding health welfare. It also has a focus on implementing immunization across the North American regions through adequate financing policies. The government of the U.S. has keen attention on the quality of vaccines produced and purchased, timely vaccine delivery, and disease surveillance.


North America Vaccines Market Size, 2018

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Asia Pacific is expected to witness tremendous growth in the vaccines market value across the region. The countries of Asia Pacific have heterogeneous classes of economic development, which results in varied approaches to immunization. Japan dominates Asia Pacific vaccines market with the highest market share. The increasing population of countries such as China and India is the major factor responsible for the demand for vaccines. The penetration of large players, as well as key startups aimed at the development of effective and novel vaccines, is anticipated to boost the vaccination market in Asia Pacific.


On the other hand, Europe is projected to witness steady growth in the market. The high-growth countries such as Germany and France are likely to contribute to the expansion of the European market. Diverse human vaccines policies across European countries, as well as strong centralized government support, are responsible for market expansion. U.K. government provides recommended vaccines to the public at no cost. Latin American and Middle East & Africa are expected to register slightly higher growth owing to the increasing demand for vaccines to cater to the prevalence of chronic diseases requiring vaccination specifically in the African countries. Additionally, the launch of vaccine implementation programs by the government is also likely to increase the sales of vaccines generating higher market value.


INDUSTRY KEY PLAYERS


“GSK, Sanofi, Pfizer, and Merck Together Rule the Vaccines Market”


The vaccines market is dominated by large vaccine suppliers across the globe. The top market players, such as GlaxoSmithKline plc., Sanofi, Pfizer Inc. and Merck & Co., Inc., account for the majority of the market. These companies have a strong product portfolio, the capability of strategic decisions and focus on resolving the unmet needs in eradicating complex diseases through vaccination. Constant exhaustive R&D resulting in approvals and launches of vaccines worldwide is expected to maintain their position in the vaccines market. Increasing demand for vaccine doses for viral as well as bacterial diseases is anticipated to fuel the company growth and market value in the human vaccines manufacturing industry.


List Of key Companies Covered:



  • GlaxoSmithKline plc.

  • Sanofi

  • Pfizer Inc.

  • Merck & Co., Inc.

  • Novartis AG

  • Emergent BioSolutions, Inc.

  • CSL Limited

  • Inovio Pharmaceuticals, Inc.

  • Bavarian Nordic

  • Mitsubishi Tanabe Pharma Corporation.

  • Other Prominent Players


REPORT COVERAGE


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Secure government support, growing endemic diseases, and rising demand for vaccination doses are the factors responsible for remarkable growth in the vaccination market during the forecast period. This, in turn, is expected to pressurize companies for manufacturing and distributing large vaccine doses in every corner of the world.


Along with this, the report provides detailed information regarding various insights into the market. Some of them are growth drivers, restraints, competitive landscape, regional analysis, and challenges. It further offers an analytical depiction of the vaccine market trends and estimations to illustrate the forthcoming investment pockets. The market is quantitatively analyzed from 2019 to 2026 to provide the financial competency of the market. The information gathered in the report has been taken from several primary and secondary sources.


Report Scope & Segmentation

















































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD billion)



Segmentation



By Type



  • Recombinant/Conjugate/Subunit

  • Inactivated

  • Live Attenuated

  • Toxoid



By Route of Administration



  • Parenteral

  • Oral



By Disease Indication



  • Viral Diseases

    • Hepatitis

    • Influenza

    • Human Papillomavirus

    • Measles/Mumps/Rubella

    • Rotavirus

    • Herpes Zoster

    • Others



  • Bacterial Diseases

    • Meningococcal Disease

    • Pneumococcal Disease

    • Diphtheria/Tetanus/Pertussis

    • Others





By Age Group



  • Pediatric

  • Adults



By Distribution Channel



  • Hospital & Retail Pharmacies

  • Government Suppliers

  • Others



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)




INDUSTRY DEVELOPMENT:



  • September 2019: Kenya joined Ghana and Malawi by launching the world’s first malaria vaccines. The malaria vaccines pilot program is fully underway as malaria affects millions of people in Africa.

  • April 2019: World Health Organization (WHO) welcomed the world’s first malaria vaccines by the government of Malawi’s landmark pilot program which was launched in Africa.  

  • May 2019: Sanofi Pasteur received USFDA green signal for its dengue fever vaccines DENGVAXIA for launch in the U.S.

  • January 2019: Vaccines market giants Sanofi and Merck received USFDA approval for its six-in-one pediatric vaccines VAXELIS. The vaccines are indicated against diphtheria, tetanus, pertussis, hepatitis b, poliomyelitis, and Haemophilus influenza type b.


Frequently Asked Questions

Fortune Business Insights says that the vaccines market is projected to reach USD 93.08 billion by 2026.

In 2018, the market was valued at USD 41.61 billion.

Growing at a CAGR of 10.7%, the market will exhibit remarkable growth in the forecast period (2019-2026).

The recombinant/conjugate/subunit segment is expected to be the leading segment in the market during the forecast period.

Strong vaccine supplies in the emerging nations, robust R&D for introduction of novel vaccines, competitive pipeline candidates and powerful government support and funding is anticipated to drive the global vaccines market.

GlaxoSmithKline plc., Merck & Co., Inc., Sanofi and Pfizer, Inc. are the top players in the market.

North America is expected to hold the highest market share in the market.

Increased awareness about the importance of immunization among the population, implementation of vaccination programs across the nations, and rising vaccination coverage are expected to drive the adoption of vaccines.

Government funding, efforts of international bodies in supplying vaccines to get every individual vaccinated throughout the world, development of oral vaccines, and aim in eradicating infectious diseases killing millions of people are the market trends of the vaccines market.

Vaccines Market Size, Share and Global Industry Trend Forecast till 2026
  • Feb, 2020
  • 2018
  • 2015-2017
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