Press Release
Press Release
Vaccine demand is being driven by the rising prevalence of diseases such as dengue, influenza, HIV, and others. North America holds a significant portion of the vaccine market share due to its expanding investment in research and development of new vaccines.
Like all United States Food and Drug Administration (FDA)-regulated products, vaccines are subjected to a stringent examination of clinical and laboratory data in order to guarantee their efficacy, safety, purity, and potency. Recently, the FDA approved Novavax's updated COVID-19 vaccine for emergency applications.
According to the World Health Organisation (WHO), COVAX accounted for 12% of the impressive amount of approximately 15 billion doses delivered globally through various mechanisms as of October 2022. In March 2023, the United States used funding from the National Institutes of Health and the Department of Defence to commit at least USD 31.9 billion in public dollars directly for the development, manufacturing, and acquisition of mRNA COVID-19 vaccines.
Continuous research and development support the market expansion. In October 2023, Pfizer Inc. (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX) revealed positive topline results from a Phase 1/2 study (NCT05596734) assessing the immunogenicity, safety, and tolerability of mRNA-based combination vaccine candidates against COVID-19 and influenza in healthy adults aged 18 to 64. The Omicron BA.4/BA.5-adapted bivalent COVID-19 vaccine from the firms and a licenced influenza vaccine were administered at the same visit in the clinical trial alongside the vaccine candidates. The trial's data revealed that the businesses' lead formulations exhibited strong defences against SARS-CoV-2, influenza A, and influenza B strains.
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The major players in the global vaccine market are Merck & Co. Inc., GlaxoSmithKline Plc, Sanofi Aventis, Novartis AG, Pfizer Inc., Takeda Pharmaceutical Company Limited, DAIICHI SANKYO COMPANY, LIMITED, Mitsubishi Chemical Group Corporation, AstraZeneca, MASSACHUSETTS BIOTECHNOLOGY COUNCIL, Biokangtai, Serum Institute of India Pvt. Ltd, VBI Vaccines Inc, Fei Biological, and Indian Immunologicals Ltd. 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.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Indication |
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Breakup by Technology |
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Breakup by End User |
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Breakup by Distribution Channel |
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Breakup by Region |
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Market Dynamics |
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Supplier Landscape |
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Companies Covered |
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