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Asia Pacific Vaccine Market to Grow at a CAGR of 7.8% During 2022-2027, Aided by the Extensive Manufacturing of Vaccines

According to a new report by EMR titled, ‘Asia Pacific Vaccine Market Report and Forecast 2022-2027’, the Asia Pacific market for vaccine attained a value of about USD 3.92 billion in 2021. The industry is further expected to grow at a CAGR of 7.8% in the forecast period of 2022-2027 to reach a value of approximately USD 6.15 billion by 2027.

India is one of the leading markets of vaccines in the Asia Pacific region. This can be attributed to the introduction of various favourable government initiatives to promote and strengthen indigenous vaccine research and development (R&D) activities. Moreover, the development of cost-effective vaccines in the region is augmenting the market growth. The presence of the leading vaccine manufacturing companies in the country is providing further impetus to the growth of the vaccine industry. For instance, Serum Institute of India Pvt. Ltd. is the world’s largest vaccine manufacturer, the vaccines of which are used in around 170 countries. In addition, various vaccination drives initiated by the federal and state governments, especially for children, to enhance the immunity of its citizens is expected to drive the growth of the market in the forecast period.

Bharat Biotech and Pfizer Inc. (NYSE: PFE) are  the leading market players in the industry. The former company, which is one of the leading companies in the industry, announced the efficacy and safety data analysis from clinical trials of phase III of COVAXIN in July 2021. The vaccine is a virion inactivated vaccine that is developed in partnership with NIV Pune and ICMR. The trials were initiated due to the emergence of 130 asymptomatic cases of COVID-19 infections after receiving the second dose of its vaccine, COVAXIN. The report found no safety concerns regarding the administration of the vaccine. This also makes the vaccine the first to report efficacy against asymptomatic symptoms of the COVID-19 infection to aid in the reduction of disease transmission. Moreover, the research also demonstrates that the vaccine provides 65.2% protection against the B.1.617.2 variant of SARS-CoV-2. Such developments are expected to drive the market growth.

Market Analysis by Technology, Indication, End Use, and Region:

  • The market, on the basis of technology, can be divided into recombinant and conjugate vaccine, inactivated vaccines, live attenuated vaccines, and toxoid vaccines, among others.
  • Based on indication, the industry can be divided into pneumococcal disease, influenza, human papilloma virus, meningococcal disease, rotavirus, varicella, measles, mumps, and rubella, diphtheria, pertussis, and tetanus (DPT), polio, hepatitis, and JE (Japanese Encephalitis) vaccine, among others.
  • The end uses of vaccine include paediatric vaccine, adult vaccine, and travellers vaccine.
  • The regional markets for vaccine in the Asia Pacific include India, China, Japan, ASEAN, and Australia, among others.

Key Findings of the Report:

  • The robust healthcare industry, along with the increasing availability and cost-effectiveness of vaccines, are increasing the demand for vaccines, hence fuelling the market growth.
  • The market is being propelled by the growing demand for rotavirus vaccines by governments, owing to the increasing prevalence of rotavirus in developing regions.
  • The extensive vaccination drive to provide vaccines against the COVID-19 infection to all socioeconomic classes in both developed and developing regions in the Asia Pacific is augmenting the industry growth.
  • The rising research and development (R&D) activities and the extensive manufacturing of vaccines, especially in India, are driving the growth of the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the Asia Pacific market for vaccine for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the technologies, indications, end uses, and major regions of vaccine in the Asia Pacific.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Asia Pacific vaccine market are CSL Limited, Bharat Biotech, GlaxoSmithKline plc, Novartis AG. Pfizer Inc., and AstraZeneca plc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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