Vaccine Market to Reach $65,148 Million by 2023: Quantitative Analysis of Current Industry Trends and Future Estimations

According to a report released by Allied Market Research in the "Technology, Markup and End-Use Vaccine Markets: Global Opportunity Analysis and Industry Outlook" (2017-2023), the global vaccine market was valued at $ 31,216 million in 2016, In 2008, the average annual growth rate of 10.9% to reach 65,148 million dollars. The vaccine division accounted for more than one-third of the global market in 2016.

Vaccines use antigenic components to strengthen the immune system. This process helps develop adaptive immunity against pathogens and prevents morbidity from infection. Immunization plays an important role in anti-infectious strategies adopted in many countries. The high demand for vaccines in countries vulnerable to epidemics contributes to significant market growth.

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The spread of vaccines and emerging vaccines for a variety of infectious diseases such as HIV, dengue and Zika virus infections is expected to accelerate the growth of the global vaccine market due to the high availability of the disease and the variety of techniques used to develop effective vaccines. future. In addition, government interest in vaccination programs can help raise awareness of the safety and availability of vaccines. However, it takes about 11-12 years to introduce a single vaccine into the commercial market. Prolonged development of these vaccines inhibits the development of new vaccines and hinders market growth. In addition, high monetary input in vaccine development will reduce adoption, further limiting growth.

Due to the fact that Streptococcus pneumoniae (pathogenic bacteria) is the leading cause of infectious diseases worldwide, pneumococcal disease is expected to dominate over the forecast period and to achieve maximum market profit during the forecast period. In addition, the high prevalence of these diseases in the pediatric and elderly population and the increased demand for diverse serotype markings promote growth in this area. However, the human papillomavirus (HPV) sign increases from 2017 to 2023 with a high CAGR of 12.4%, the fourth most common type of sexually transmitted disease, especially among women with cervical cancer. Cancer prevalent in women.

The pediatric vaccine sector led the end-use market, which accounts for half of the total market share in 2016, due to the high immunization rate of infants and young people. Furthermore, active government involvement in revising vaccinations for all children has spurred market growth.

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Key Findings of the Vaccines Market:
• The recombinant vaccines segment is anticipated to grow at the highest growth rate during the forecast period.
• The human papilloma virus (HPV) vaccines segment is expected to grow at a rapid rate, registering a CAGR of 12.4% from 2017 to 2023.
• North America dominated the global vaccines market, accounting for maximum share of overall market in 2016.
• Asia-Pacific is exhibited to grow at a high growth rate of 12.0%, owing to the high demand for vaccination in densely populated area, such as India and China.
• The pediatric vaccines segment generated highest revenue in 2016, and is expected to continue its dominance in the future as well.
• The traveler vaccines segment is expected to exhibit high growth rate during forecast period, attributed by international travelers and mandated vaccination for immigrants before traveling.

Asia-Pacific has witnessed highest growth rate for vaccines, and is expected to continue this trend. This is attributed to increase in sizeable population, rise in incidence of HIV & cancer cases, healthcare infrastructural development, and huge market potential, owing to the new arrival of preventive, therapeutic, and adult vaccines by key players focusing on the emerging markets.

Key players operating in the vaccines market have adopted product launch as their key developmental strategy, and focus on launching innovative products to cater to the consumer requirements and strengthen their market share. The major companies profiled in the report include Astellas Pharma Inc., Astrazeneca Plc. (Medimmune, LLC.), CSL Limited, Emergent Biosolutions, Inc., Glaxosmithkline Plc., Johnson & Johnson, Merck & Co., Inc., Pfizer Inc., Sanofi Pasteur, and Serum Institute of India Pvt. Ltd.

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