$82 Billion Global Vaccines Market 2023 to 2029: Growth Trends, and Market Forecasts - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 5, 2023--
The “Vaccines Market - Global Industry Analysis (2019 - 2021), Growth Trends, and Market Forecast (2023 - 2029)” report has been added to ResearchAndMarkets.com’s offering.
Escalating investments by vaccine manufacturers, and governments from across the globe is predominantly driving the global vaccines market growth.
This US$90 Bn market (2021) is projected to reach the valuation of US$82 Bn by the end of 2029. While vaccines market (excluding COVID-19 vaccine) is expected to demonstrate nearly 11.2% growth, the market (including COVID-19 vaccine) is likely to experience 3.9% growth through the end of forecast period.
Epidemic, and pandemic situations like COVID-19 outbreak act as the key growth influencers for vaccines market, says a newly released market intelligence report of The publisher.
- CSL Limited (Seqirus)
- Emergent BioSolutions Inc.
- GlaxoSmithKline plc.
- Haffkine Bio-pharmaceutical Corporation Ltd.
- Merck & Co., Inc.
- Mitsubishi Tanabe Pharma Corporation
- Pfizer Inc.
- Sanofi Pasteur
- Serum Institute of India Pvt. Ltd.
Key Research Insights
- Combination vaccines remain a significant growth contributor to vaccines space
- Seasonal influenza vaccines slated for the fastest growth in demand by 2029 end
- Shingles vaccine category represents a highly lucrative segment projected for nearly 15.5% growth in demand toward 2029
- AMRO remains the top revenue contributor to vaccines market with nearly 50% share
- Vaccine manufacturers gained steadfast profits during the COVID-19 outbreak, causing a titanic spike in market revenue. Post-2021, vaccines market (including COVID-19 vaccine) will observe the anticipated decline as the pandemic situation has been subsiding
- A majority of market revenue remains concentrated within the top four - Pfizer, GSK, Sanofi, and Merck
Seasonal Flu Vaccines Continue to Lead Global Vaccines Market, Shingles Vaccine and PCV in Demand
Pneumococcal diseases continue to be one of the mortality causes worldwide among both children, and adults. There has thus been an increasing consideration about including Pneumococcal Conjugate Vaccine (PCV) in regular immunization programs. This is likely to be a continuous booster to the PCV segment in vaccines market.
The WHO suggests over 150 nations across the globe to have introduced PCV in their routine immunization programs. While this keeps PCV consumption afloat in the market, the projections also suggest more than 40 nations to be in a process of implementation of the same.
This according to the report will act as a significant driving force for spike in demand for PCV in global vaccines market. Demand will prominently thrive across populous nations like India, Indonesia, and China. In addition, the Human Papilloma Virus (HPV) vaccine is also expected to witness a sharp increase in demand, says the report. On the other hand, demand for seasonal influenza vaccines is projected to remain buoyant and will see the fastest growth through 2029. Shingles vaccine demand is however poised for a solid double-digit growth during the period of forecast.
SEARO, and WPRO All Set for Phenomenal Growth in Global Vaccines Market
Asia Pacific remains a significant market, led by the fast-developing nations like China, and India. While these nations have been the largest vaccine producers and the trend will prevail throughout the period of projection. The report identifies a continuous demand surge across the South and East Asia (SEARO), as well as the Western Pacific (WPRO) region.
On the flipside, the report also states that the conventional high-value markets such as the US, and Canada in addition to the Americas (AMRO) are likely to be the top revenue contributors to global vaccines market. These markets are expected to capture around 50% of the overall vaccines market valuation over the next few years. The report marks AMRO as the most prominent vaccines market as the region is characterized by the relatively high value for Influenza (adult), Varicella, meningococcal vaccines, and HPV.
Key Topics Covered:
1. Executive Summary
2. Market Overview
2.1. Market Segmentations and Definitions
2.2. Market Dynamics
2.2.1. Market Drivers
2.2.2. Market Restraints
2.2.3. Market Opportunities
2.3. COVID-19 Impact Analysis
3. Vaccines Supply Dynamics
3.1. Vaccines Supply
4. Vaccines Pricing Analysis
4.1. Vaccine Prices
4.2. Vaccine Price Changes
5. Global Vaccines Market Outlook, By Vaccine, 2019-2029
6. Global Vaccines Market Outlook, By Country Group , 2019-2029
7. Global Vaccines Market Outlook, By Region, 2019-2029
8. Global Vaccines Market Outlook, By Company, 2019-2029
9. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/njw3vz
View source version on businesswire.com:https://www.businesswire.com/news/home/20230105005806/en/
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SOURCE: Research and Markets
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PUB: 01/05/2023 11:20 AM/DISC: 01/05/2023 11:20 AM