Vaccines Market to Garner USD 64,538.4 million, Globally, by 2027 at 6.5% CAGR: The Insight Partners

According to The Insight Partners' research, the global vaccines market is expected to reach US$ 64,538.4 million by 2027 from US$ 36,998.8 in 2018, expanding at 6.5% CAGR throughout. Rising prevalence of infectious diseases, growing focus on immunization programs, and increasing support for vaccine development are the key factors attributing to this expansion.

The spread of new diseases such as HIV, hepatitis, dengue, and the resurgence of diseases that seemed to be under control such as malaria, cholera, and many more will aid the global vaccine market growth.

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According to the Centers for Disease Control and Prevention, in 2015, 16.8 million people in the US visited hospitals due to infectious and parasitic diseases. Meanwhile, chronic viral hepatitis affected around 70 million Africans (60 million with Hepatitis B and 10 million with Hepatitis C). Furthermore, diseases such as influenza, dengue, tuberculosis, and pneumonia have been spreading in Asia Pacific and at the same time there are the newly emerging Hendra and Nipah viruses.

According to the estimates from UNICEF, WHO, World Bank, and the UN Population Division, the number of deaths decreased by 5 million in the last decade due to vaccination programs. Immunization is considered to be one of the most cost-effective ways to tackle public health challenges. In the past decade, the scope of immunization has expanded significantly as new vaccines and delivery technologies have been introduced into routine immunization programs worldwide.

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On the other hand, the high cost of vaccines and complex process of manufacturing is likely to hinder market expansion over the forecast timeframe.
Based on technology, the global vaccines market is split into recombinant vaccines, conjugate vaccines, live attenuated vaccines, inactivated vaccines, and toxoid vaccines. Among these, the conjugate vaccines segment held 27.2% of the market share in 2018. The segment was valued at US$ 10,081.8 million in 2018 and is anticipated to reach US$ 17,717.3 million by 2027, expanding at 6.5% CAGR throughout.

Speaking of disease indication, the business sphere is divided into DTP (diphtheria, tetanus, and pertussis), influenza, hepatitis, respiratory syncytial virus, and others. Among these, the others segment captured 59.7% of the market share in 2018. The segment was assessed at US$ 22,080.7 million in 2018 and is anticipated to reach US$ 37,421.2 million by 2027, growing at 6% throughout.

As per route of administration, the industry is arrayed into oral, injectable, and others. Among these, the injectables segment accounted for 48.7% of the market share in 2018. The segment was evaluated at US$ 18,017.4 million in 2018 and is anticipated to reach US$ 29,249.2 million by 2027, expanding at 5.5% CAGR throughout.

Moving on to patient type, the business sphere is bifurcated into adults, and pediatric. Among these, the pediatric segment held 70% of the market share in 2018. The segment was assessed at US$ 25,913.2 million in 2018 and is anticipated to reach US$ 42,102.9 million by 2027, expanding at 5.5% CAGR over 2019-2027.

Regionally speaking, the Asia Pacific vaccines market is expected to grow at the highest rate during the forecast period owing to a high number of R&D activities and increasing investments on vaccines development. In addition, the emergence of new local players with competitive vaccine portfolio are expected to fuel the market growth in Asia Pacific. The market for vaccines in Asia Pacific is expected to reach US$ 4,798.0 million by 2027 from US$ 3,106.1 million in 2018, expanding at 4.9% CAGR throughout.

Key companies contributing to global vaccine market valuation are Pfizer Inc., Glaxosmithkline plc, Merck & Co. Inc., Sanofi S.A., Johnson & Johnson Services Inc., Panacea Biotec Limited, Astellas Pharma Inc., Novavax Inc., VBI Vaccines Inc., and Bavarian Nordic A/S.

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• In September 2018, Pfizer Inc. announced that its 20-Valent Pneumococcal Conjugate Vaccine (20vPnC) candidate, PF-06482077, received Breakthrough Therapy designation from the US Food and Drug Administration (FDA) for the prevention of invasive disease and pneumonia caused by Streptococcus pneumoniae serotypes in the vaccine in adults aged 18 years and older.
• In April 2018, Sanofi S.A. invested €350 million (CAD $500 million) for the construction of a new state-of-the-art vaccine manufacturing facility at the Sanofi Pasteur Canadian headquarters in Toronto, Ontario. The investment bolsters the company's Canadian operations and its commitment to advancing public health around the world.
• In March 2018, GlaxoSmithKline plc announced that the European Commission approved Shingrix for the prevention of shingles (herpes zoster) and post-herpetic neuralgia (PHN) in adults aged 50 years or older. The Japanese Ministry of Health, Labour and Welfare (MHLW) has also approved Shingrix for the prevention of shingles (herpes zoster) in adults aged 50 years or older.

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