Global Vaccine Market Report – $54,150 Mn Opportunity by 2027

Pune, Maharashtra, India, February 18 2021 (Wiredrelease) Allied Analytics –:Rise in the prevalence of infectious diseases, increase in immunization programs across the globe, and surge in R&D activities to develop new vaccine drive the growth of the global vaccine market. However, longer timelines required for vaccine production and high cost related to the development of vaccines hinder the market growth. On the other hand, growth opportunities in emerging market and rise in healthcare spending creates new prospects in the coming years.

According to a new report published by Allied Market Research, titled, “Vaccine Market size accounted for $32,462 million in 2019, and is expected to reach $54,150 million by 2027, registering a CAGR of 6.6% from 2020 to 2027. Rise in immunization programs worldwide is one of the major factors that boost the growth of the vaccine market. 

Vaccine Market By Technology (Conjugate Vaccines, Inactivated Vaccines, Live Attenuated Vaccines, Toxoid Vaccines, Recombinant Vaccines, and Other Vaccines), Indication (Pneumococcal Disease, Influenza, Human Papilloma Virus, Meningococcal Disease, Rotavirus, Varicella, Diphtheria, Pertussis, & Tetanus {DPT}, Polio, Hepatitis, Measles, Mumps, & Rubella {MMR}, and Other Indications), and End Use (Pediatric Vaccines, Adult Vaccines, and Traveler Vaccines): Global Opportunity Analysis and Industry Forecast, 2020–2027

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Covid-19 Scenario-

The outbreak of the pandemic led to rise in investments and R&D activities for drugs and vaccines against the virus.

Also, the World Health Organization (WHO) is encouraging the healthcare organizations across the world to put more emphasis on treatment vaccines, and medication against the novel coronavirus.

The global vaccine market is analyzed across technology type, indication, end user, and region. Based on technology type, the recombinant vaccines & conjugate vaccines segment contributed to around two-fifths of the total market share in 2019, and is anticipated to retain its dominance during the forecast period. The same segment is also expected to register the fastest CAGR of 7.7% from 2020 to 2027.

Based on end-user, the pediatric vaccines segment accounted for nearly half of the total market revenue in 2019, and is projected to rule the roost by the end of 2027. The traveler vaccines segment, on the other hand, is anticipated to grow at the fastest CAGR of 7.3% throughout the forecast period.

The pediatric vaccine segment to maintain its lead position during the forecast period

Based on end-user, the pediatric vaccines segment accounted for the highest market share in 2019, contributing to nearly half of the global vaccine market, and is estimated to maintain its lead position during the forecast period. This is due to rise in demand for pediatric medicine owing to its ability to protect against multiple diseases. However, the traveler vaccines segment is projected to witness the fastest CAGR of 7.3% from 2020 to 2027, owing to its crucial role in minimizing the risk of exposure to different diseases associated with people traveling to various regions.

Key Findings Of The Study 

The study provides an in-depth analysis, current trends, and future estimations of the global vaccine market to elucidate the imminent investment pockets.

Comprehensive analysis of factors that drive and restrict the vaccine market growth is provided.

It provides an extensive analysis of key segments to understand the type of products and indications used globally.

Extensive analyses of key segments of the industry help understand the types of products and technologies used across various geographies.

North America to dominate the market throughout the forecast period-

Based on region, North America held the highest market share in 2019, contributing to around two-fifths of the global vaccine market in 2019. Surge in prevalence of infectious diseases such as influenza, MMR, DTP and others and surge in awareness related immunization and development of new vaccines drive the growth of the market in this province. On the other hand, the Asia-Pacific region is expected to register the largest CAGR of 8.1% during the forecast period. This is owing to presence of large untapped opportunities such as expanding healthcare budgets and increase in disposable income. In addition, rise in demand for vaccine, owing to growth in number of geriatric population further fuels the market growth.

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The key market players analyzed in the global vaccine market report include Serum Institute of India Pvt. Ltd., Pfizer, Johnson & Johnson, AstraZenecea plc, GlaxoSmithKline plc, Sanofi Aventis, Merck & Co., Inc., Emergent BioSolutions Inc., and CSL Limited, Novavax, Inc. These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry.

Read More: https://www.alliedmarketresearch.com/vaccines-market

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