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United States Vaccine Market to Grow at a CAGR of 9.8% During 2021-2026, Aided by the Increasing Research Activities in Genetic Engineering

According to a new report by EMR titled, ‘United States Vaccine Market Report and Forecast 2021-2026’, the United States market for vaccine attained a value of about USD 11.2 billion in 2020. The industry is further expected to grow at a CAGR of 9.8% in the forecast period of 2021-2026.

The market for vaccine in the United States is being aided by the increasing research activities in genetic engineering and biotechnology to determine the genotype of antigens. This is also expected to increase the development of critical vaccines like parasitic and bacterial to prevent the risk of infection of chronic diseases, such as cancer, pulmonary obstructive chronic disease (PCOS), and acquired immunodeficiency syndrome (AIDS), among others. Moreover, the increasing clinical trials to determine the efficacy of vaccines and prevent the risk of side effects are expected to fuel the growth of the market. The surging use of the latest technologies, such as machine learning and artificial intelligence (AI), to automate various research activities while providing meaningful insights to accelerate vaccine development is projected to further propel the growth of the vaccine industry in the forecast period.

Pfizer Inc. (NYSE: PFE), one of the leading companies in the market, along with BioNTech, announced in September 2021 that the booster dose of the Pfizer-BioNTech COVID-19 vaccine is authorised by the Food and Drug Administration (FDA) of the United States for emergency use. The shot is authorised for individuals above or 65 years of age and at high risk of COVID-19 infection in individuals of 18-64 years with comorbidities or frequent exposure to the novel virus. The authorisation is based on the clinical data that support the clinical understanding that a booster shot provides enhanced protection against variants of SARS-CoV-2 to prevent fatality and complications in the case of COVID-19 infection. The companies are expected to supply boosters to the United States government through April 2022 under their supply agreement. Such developments are expected to aid 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, and hepatitis, among others.
  • The end uses of vaccine include paediatric vaccine, adult vaccine, and travellers vaccine.
  • The regional markets for vaccine in the United States include New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.

Key Findings of the Report:

  • The increasing research and development (R&D) activities by leveraging mRNA technology due to the prevalence of various infectious diseases are propelling the market growth.
  • The market is being aided by the development of efficient COVID-19 vaccines by the leading companies during the COVID-19 pandemic.
  • The rising demand for vaccines for the immunisation of children and the introduction of various programs to provide vaccination to all children are driving the growth of the vaccine industry.
  • The development of vaccines with innovative administration techniques while providing ease of storage is expected to fuel the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the United States market for vaccine for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the technologies, indications, end uses, and major regions of vaccine in the United States.
  • 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 United States vaccine market are GlaxoSmithKline plc, Merck & Co., Inc., Novartis AG, Pfizer Inc., Sanofi, AstraZeneca plc, and Johnson & Johnson Services, Inc., 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.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive 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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