Vaccines Market by Technology (Recombinant, Toxoid, Conjugate, RNA), Type (Monovalent, Multivalent), Disease (Pneumococcal, Influenza, DTP, HPV, MMR, COVID-19), Route of Administration (IM, SC, Oral), End user (Pediatric, Adult) - Global Forecast to 2028

"The vaccines market is projected to grow at a CAGR of 3.9% during the forecast period of 2023-2028."

The global vaccines market size is projected to reach USD 93.8 billion by 2028 from USD 77.6 billion in 2023, at a CAGR of 3.9% during the forecast period. Factors such as high incidence of contagious diseases, innovation in vaccine technology, governmental support & substantial funding for vaccine development, growing vaccination initiatives and strong focus on investing and launching innovative vaccines.

"The conjugate vaccines segment held the dominant share in the vaccines market"

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Based on technology, the global vaccines market is segmented into inactivated & subunit vaccines, live attenuated vaccines, toxoid vaccines, viral vector vaccines, recombinant vaccines and conjugate vaccines. The conjugate vaccines segment is anticipated to grow at significant CAGR. Growing governmental support coupled with investment by companies in the field of conjugate vaccine development, increasing collaboration between public and private sectors are likely to have positive impact on the growth of the market.

"Pneumococcal segment accounted for the largest share of the disease indication segment in 2022."

Based on disease indication, the vaccines market is segmented into, combination vaccines, HPV, meningococcal disease, herpes zoster, rotavirus, MMR, pneumococcal disease, influenza, varicella, hepatitis, DTP, polio, and other disease indications. In 2022, the pneumococcal segment accounted for the largest share of the vaccines market. The segment held the dominant share in the market owing to various factors such increased pneumococcal disease cases, with a rising government investment in vaccination programs.

"Asia Pacific region is likely to grow at a faster pace in the vaccines market."

The vaccines market region is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and the Africa. Asia Pacific region is anticipated to grow at a significant CAGR during the forecast period. The growth of the region is majorly driven by companies that are upping their investments in Asia-Pacific region, benefiting from increased government support for vaccine development, rising healthcare expenditure in Asian countries, emergence & re-emergence of contagious disease and rising disposable income.

The primary interviews conducted for this report can be categorized as follows:

By Respondent: Supply Side- 80%, and Demand Side - 20%
By Designation (Supply Side): Managers - 45%, CXOs & Directors - 30%, Executives- 25%
By Region: North America -40%, Europe -25%, Asia-Pacific -20%, Latin America -10%, Middle East-4% and Africa -1%

List of Companies Profiled in the Report:

GSK plc (UK)
Merck & Co., Inc. (US)
Pfizer, Inc. (US)
Sanofi (France)
CSL (Australia)
Emergent (US)
Johnson & Johnson Services Inc. (US)
AstraZeneca (UK)
Serum Institute of India Pvt. Ltd. (India)
Bavarian Nordic (Denmark)
Mitsubishi Tanabe Pharma Corporation (Japan)
Daiichi Sankyo Company, Limited (Japan)
Panacea Biotec (India)
Biological E. Limited (India)
Bharat Biotech (India)
Novavax (US)
Inovio Pharmaceuticals (US)
Sinovac (China)
Incepta Pharmaceuticals (Bangladesh)
Valneva SE (France),
VBI Vaccines Inc. (US)
Bio Farma (Indonesia)
FSUE NPO Microgen (Russia)
Zhi fei Biological (China)
Indian Immunologicals Ltd (India)

Research Coverage:

This report provides a detailed picture of the vaccines market. It aims at estimating the size and future growth potential of the market across different segments such as the technology, type, disease indication, route of administration, end-user and region. The report also includes an in-depth competitive analysis of the key market players along with their company profiles recent developments and key market strategies.

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This release was published on openPR.