Global Vaccines Market: Snapshot
The rising prevalence of several diseases and the emergence of several new diseases are expected to encourage the leading players in the market for the development of new and effective drugs and vaccines. This is projected to enhance the growth of the global vaccines market in the next few years.
According to the market research study that has been recently published by Transparency Market Research, in 2016, the global vaccines market was worth US$ 28.0 Bn and is projected to reach a value of US$ 48.0 Bn by the end of 2025. The market is predicted to register a promising 6.0% CAGR between 2017 and 2025.
Rising Research and Development Activities to Encourage Market Growth
The rising prevalence of infectious diseases and the growing focus on the immunization programs are considered as the major factors that are projected to enhance the growth of the global vaccines market in the next few years. In addition to this, the rising company initiatives to enhance the vaccines research and development and the growing government support for vaccine development are projected to accelerate the growth of the global vaccines market in the next few years. The rising number of prospects from the developing economies is predicted to enhance the growth of the overall market in the near future.
On the flip side, the high cost required for the development of vaccines is expected to restrict the growth of the global vaccines market in the next few years. In addition to this, the inadequate access to vaccines and the rising number of product recalls are further projected to hamper the growth of the market in the near future. Nonetheless, the increasing use of adjuvants in vaccines and the growing focus on therapeutic vaccines are projected to support the growth of the market and offer potential growth opportunities for the market players in the next few years.
North America to Register High Growth in Coming Few Years
The global vaccines market has been classified on the basis of geography into Latin America, Europe, North America, Asia Pacific, and the Middle East and Africa. In the last few years, a major share of the market was held by North America and is projected to maintain its leading position throughout the forecast period. The strong growth of this region can be attributed to the launch of new products and the rising investments made by the key players for research and development activities. On the other hand, Asia Pacific is projected to register a promising growth rate in the next few years, owing to the rising prevalence of several diseases, such as malaria and dengue, tuberculosis, chikangunya, influenza A (H5N1), and others. The rising number of measures that are being taken by the local government is projected to enhance the growth of the vaccines market across Asia Pacific in the next few years.
The global market for vaccines is highly competitive in nature with a high level of fragmentation, owing to the presence of a large number of local and global players operating worldwide. To maintain a leading position in the market, the key players are making notable investments in the research and development activities, which is projected to enhance the competitive environment of the market in the next few years. In addition to this, the rising emphasis on the development of new products is projected to support the growth of the overall market in the next few years. The rise in the number of mergers and acquisitions and strategic collaborations are estimated to offer lucrative opportunities for the market players in the next few years. Some of the key players operating in the vaccines market across the globe are Merck & Co., Inc., CSL Ltd, GlaxoSmithKline plc., Janssen Pharmaceutical Company, Pfizer, Inc., Sanofi Pasteur SA, Mitsubishi Tanabe Pharma Corporation, Serum Institute of India Ltd, Emergent BioSolutions Inc.,And Novavax AB.
Vaccines Market: Overview
Vaccines help in stimulating the body’s immune system in order to produce antibodies which aid in protecting the body against infectious diseases. The administration of vaccines builds immunity in the body against the disease without contacting the disease. This report analyzes the current and future prospects of the vaccines market based on vaccine type, valance, route of administration, indication, distribution channel and geography.
Vaccines Market: Research Methodology
The research is a combination of primary and secondary research, conducted for understanding and arriving at trends, used to forecast the expected revenue of vaccines in the near future. Primary research formed the bulk of our research efforts with information collected from in-depth interviews and discussions with a number of key industry experts and opinion leaders. Secondary research involved study of company websites, annual reports, press releases, investor presentations, analyst presentation and various international and national databases. The report provides estimated market size in terms of US$ Mn for vaccine type, valance, route of administration, indication, distribution channel and geography for the period 2016 to 2025.
The market report comprises an elaborated executive summary, which includes market snapshot that provides information about various segments of the market. It also provides information and data analysis of the market with respect to market segments based on vaccine type, valance, route of administration, indication, distribution channel and geography. The market overview section of the report analyzes market dynamics such as drivers, restraints and opportunities that influences the vaccines market in the current and future scenario. The report also provides Porter’s five force analysis that studies five factors and their impact on the vaccines market.
Market share analysis among the market players is analyzed to signify the contribution of these players in the market in terms of percentage share. All these factors will help the market players to decide about the business strategies and plans to strengthen their positions in the global market. Based on geography, the market has been analyzed for major regions: North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The study also covers detailed country analysis in the respective regions for the vaccines market.
The report also profiles the major players in the market and provides various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major companies profiled in the vaccines market include GlaxoSmithKline plc. , Sanofi Pasteur SA, Pfizer, Inc., Merck & Co., Inc., Serum Institute of India Ltd, Emergent BioSolutions Inc., CSL Ltd, Janssen Pharmaceutical Company, Novavax AB and Mitsubishi Tanabe Pharma Corporation. New product development was the primary strategy adopted by the major market players to cement their position in the vaccines market.
The vaccines market has been segmented as follows:
- Vaccines Market, by Vaccine Type, Revenue (US$ Mn) 2017-2025
- Live Attenuated
- Vaccines Market, by Valance, Revenue (US$ Mn) 2017-2025
- Vaccines Market, by Route of Administration, Revenue (US$ Mn) 2017-2025
- Vaccines Market, by Indication, Revenue (US$ Mn) 2017-2025
- Meningococcal Disease
- Pneumococcal Disease
- Human Papilloma Virus
- Vaccines Market, by Distribution Channel, Revenue (US$ Mn) 2017-2025
- Institutional Sales
- Hospital Pharmacies
- Retail Pharmacies
- Vaccines Market, by Geography, Revenue (US$ Mn), 2017-2025
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- GCC countries
- Rest of MEA
- North America