Global Vaccine Market to Grow at a CAGR of 10.5% During 2024-2032, Aided by the Increased Research and Development Activities by Key Players

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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Market Analysis by Indication, Technology, End User, Distribution Channel, and Region:

• The market, on the basis of indication, can be divided into pneumococcal, Influenza, DTP, HPV, MMR, and COVID-19.

• On the basis of technology, the market can be divided into recombinant, toxoid, conjugate, and RNA.

• Based on end user, the market can be divided into adult and children.

• The various distribution channels for vaccine include hospital and clinical pharmacies, retail pharmacies, and online pharmacies.

• The major regional markets for vaccine include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Vaccines are an essential component of disease prevention. Immunisation helps shield against infectious diseases like pneumonia, measles, and polio that cause death. Around 1.5 million children under the age of 5 lose their lives to vaccine-preventable diseases every year. The Expanded Programme on Immunisation (EPI) of the World Health Organisation seeks to vaccinate every kid by the year 2025, aiding the market growth.

• In 2020, there were 37.7 million HIV-positive individuals globally, with women and girls making up half of this population. Only 68% of male adults aged 15 and over had access to treatment, compared to 79% of female adults. Vaccine plays a pivotal role in HIV prevention.

• Microarray patches and recent developments in critically important vaccines against Shigella, RSV, malaria, and tuberculosis have the potential to revolutionise the fields. Additionally, the development of mRNA vaccines propels the vaccine market growth.

• Increased research and development, government funding, and consumer awareness about diseases support the market expansion.

Key Offerings of the Report:

• The EMR report gives an overview of the global vaccine market for the periods (2017-2023) and (2024-2032).

• The report also offers the historical (2017-2023) and forecast (2024-2032) markets for the indications, technologies, end users, distribution channels, and regions of vaccine.

• 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 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.

Key Highlights of the Report

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