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Reports And Data
Increasing government funding for vaccine production and growing emphasis on immunization are major factors expected to drive the market
NEW YORK, NY, UNITED STATES, October 28, 2021 /EINPresswire.com/ — The global vaccines market size is expected to reach USD 73.78 billion by 2028, registering a CAGR of 7.3% over the forecast period, according to the latest report by Reports and Data. Major factors driving market revenue growth are rising prevalence of infectious diseases, increasing government funding for vaccine production, and growing emphasis on immunization.
Immunization is a public health and development success storey that saves millions of lives each year. By bolstering the body's natural defences, vaccines reduce the chances of developing a disease. Vaccination helps avoid over 20 life-threatening diseases, helping people of all ages to live longer, healthier lives. Vaccines save lives of 2-3 million people per year from diseases such as diphtheria, tetanus, pertussis, influenza, and measles.
Immunization is a basic human right and an essential component of primary health care. Over the past decade, more than 1 billion children have been vaccinated. Vaccines are essential for preventing and managing outbreaks of infectious diseases. They're crucial in battle against antimicrobial resistance, and for global health protection. The Global Vaccine Action Plan (GVAP), which was endorsed by the 194 Member States of the World Health Assembly in May 2012, is a framework for avoiding millions of deaths by 2020 by ensuring that people from all walks of life have equal access to current vaccines.
Millions of people worldwide have recently been infected with the COVID-19 disease. Community transmission has resulted in rising fatalities in some regions. In 2021, biopharmaceutical and biotech companies succeeded in bringing to market an effective vaccine against the virus that causes SARS-Cov-2. The coronavirus outbreak has sparked unprecedented demand and businesses are investing heavily in R&D activities along with government to meet the growing demand for COVID-19 vaccines. This is expected to boost the market's growth prospects.
Despite tremendous progress, various people around the world, including nearly 20 million babies last year, still lack access to vaccines. In some countries, progress has stalled or even reversed, and there is a real risk that complacency will undo previous achievements. Furthermore, high storage and transportation costs for vaccines can stifle market supply. These factors are expected to hamper the revenue growth of the vaccines market to a certain extent going ahead.
Top Companies operating in the market and profiled in the report include:
GlaxoSmithKline plc, Pfizer, Inc, Merck & Co., Inc. and Sanofi Pasteur, CSL Limited, Emergent BioSolutions, Inc., Johnson & Johnson, Serum Institute of India, AstraZeneca, Bavarian Nordic , Mitsubishi Tanabe Pharma Corporation, and Daiichi Sankyo Company, Limited.
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The pharmaceutical and healthcare industry has undergone tremendous change over the recent years, especially with the emergence of the COVID-19 pandemic. Increasing accessibility of advanced healthcare systems and low-cost technologies coupled with growing demand for over-the-counter medications has further changed the dynamics of the industry. Integration of robust technologies such as AI and blockchain have helped pharmaceutical companies reduce capital expenditure and strengthen the global supply chain. Increasing application of biosimilars, shifting focus to in-silico testing of pharmaceutical products, and rising number of product approvals from regulatory authorities are some key factors driving revenue growth of the market.
Increasing expenditure on R&D, growing focus on implementing robust cybersecurity solutions to ensure better medical device connectivity, and development of advanced telehealth software by key companies operating in the field has further added traction to the revenue growth of the market. The global Vaccines market report discusses the current market scenario with respect to the competitive landscape and offers key insights into the company profiles, product portfolio, production and manufacturing capacity, revenue contribution, and position in the global market. It also provides details on recent mergers & acquisitions, joint ventures, collaboration, and product launches, among others.
Some Key Highlights in the Report:
• The conjugate vaccines segment had the largest share of the vaccines market in 2020. Increased government funding and growing company investments in conjugate vaccine production are attributable to this segment's large share.
• Owing to growing immunization concerns against a number of predominant infectious diseases, which are a major cause of mortality and morbidity, most disease indication segments have registered considerable growth.
• The intramuscular and subcutaneous administration segment accounted for the largest revenue share in the vaccines market in 2020.
• The pediatric patients segment accounted for the largest revenue share among other patient type segments in 2020.
• In 2020, North America held the largest revenue share in the vaccines market. The regional growth can be attributed to increased public awareness of the risks of infectious diseases as well as increased government and non-government expenditures on vaccine production and widespread distribution.
• The fastest growth is expected in the Asia Pacific region over the forecast period, owing to a rising target population base with high unmet clinical needs.
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Segments Covered in the Report
For the purpose of this study, Reports and Data has segmented the global vaccines market on the basis of technology, type, disease indication, route of administration, patient type, and region:
Technology Outlook (Revenue, USD Billion, 2018 – 2028)
• Conjugate vaccines
• Inactivated and subunit vaccines
• Live attenuated vaccines
• Recombinant vaccines
• Toxoid vaccines
Type Outlook (Revenue, USD Billion, 2018 – 2028)
• Monovalent vaccines
• Multivalent vaccines
Disease Indication Outlook (Revenue, USD Billion, 2018 – 2028)
• Pneumococcal disease
• Meningococcal disease
• Herpes zoster
• Other disease indications
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Route of Administration Outlook (Revenue, USD Billion, 2018 – 2028)
• Intramuscular and subcutaneous administration
• Oral administration
• Other routes of administration
Patient Type Outlook (Revenue, USD Billion, 2018 – 2028)
• Pediatric patients
• Adult patients
The report provides a comprehensive analysis of the market scope, supply chains, distribution channels, trends and demands in each region, revenue generation, market size, and presence of prominent companies in each region. It studies the revenue growth of the market in each region and their key countries based on several factor such as macro- and micro-economic growth factors, regulatory framework and policies, investment and funding opportunities, R&D and technological advancements, and growth prospects.
Key Regions Assessed in the Report:
• North America (U.S., Canada, Mexico)
• Europe (U.K., Germany, Italy, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report further segments the global Vaccines market on the basis of product types and applications and offers details about key factors that are expected to drive revenue growth of each segment and sub-segment.
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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