Vaccines Market Overview
Vaccines Market size is estimated to be $39,444 Million in 2019, growing at a CAGR of 8.4% during the forecast period 2020-2025. According to the Centers for Disease Control and Prevention “a vaccine is a product that stimulates a person’s immune system to produce immunity to a specific disease, protecting the person from that disease”. In addition, vaccines are usually administered through needle injection, through mouth or sprayed into the nose. The rising number of people suffering from various Infectious diseases has led to the increased adoption of vaccines around the world which in turn is fostering its market growth. Apart from this, the sudden covid-19 has created a pandemic which has exerted immense pressure on the pharmaceutical companies to a develop vaccines against it. Hence, the companies are adopting different strategies such as collaboration and expansion to accelerate the rapid development of covid-19 vaccine. For instance, in April 2020, Sanofi and GSK collaborated to develop an Adjuvanted vaccine for covid-19, using innovative technology from both companies to help address the ongoing pandemic. Apart from this, the various government funding towards development of new vaccines is also contributing to its market growth. For instance, in November 2020 the finance minister of India announced a rupees 900 crore stimulus towards research and development of covid-19 vaccine and also assuring that the funds would be provided according to the requirement for the cost of vaccines and logistics requirements as well in future.
Report Coverage
The report: “Vaccines Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Vaccines Market.
By Vaccines Valence - Monovalent and Multivalent.
By Vaccines Type - Live Attenuated Vaccines, Inactivated & Subunit Vaccines, Toxoid Vaccines, Conjugate Vaccines, Recombinant Vaccines and Other.
By Disease Indication - Bacterial Diseases and Viral Diseases.
By Route of Administration - Intramuscular, Subcutaneous, Oral and Other.
By End-User - Adults and Pediatrics.
By Distribution Channel - Hospital & Retail Pharmacies, Government Suppliers and Other.
By Geography - North America, Europe, Asia Pacific and Rest of the World.
Key Takeaways
- Multivalent segment held the largest market share in the year 2019 owing to the increasing prevalence of rare infectious disease and enormous government initiatives towards immunization is a significant factor contributing to its segmental growth.
- Intramuscular segment held the largest market share in the year 2019 owing to the ease of supplying larger amount of drug or fluid in the muscles.
- North America contributed to the largest market share of 39.2% in 2019 owing to increasing government initiatives for monitoring vaccine safety and conducting research on vaccine safety.
- The increasing number of merger & acquisition in vaccine industry with an aim to develop new product is a significant factor driving the Vaccines market during the forecast period 2020-2025.
Vaccines Market Segment Analysis - By Vaccines Valence
By Vaccines Valence, the Vaccines Market is segmented into Monovalent and Multivalent. Multivalent segment held the largest market share in the year 2019 owing to the increasing prevalence of rare infectious disease and enormous government initiatives towards immunization is a significant factor contributing to its segmental growth. Moreover, according to the Center for Disease Control and Prevention four variants of meningococcal vaccines are used by the United States. On the basis of type two vaccines used are recombinant monovalent protein vaccine, which provide protection against serogroup B antigen. Owing to these benefits of protection against meningococcal serogroup B to age group 16-23 years is eventually leading to an increase in its revenue. Also, Multivalent, is projected to witness growth at fastest CAGR of 9.2% in forecast period 2020-2025. On September 2020, ProMIS Neursciences Inc. a biotechnology firm announced its development of multivalent vaccine for Alzheimer disease through advance technology which is set to develop vaccine against amyloid beta toxic oligomers (ABOs). ABO are the main causing agent for alzheimer, for this ProMIS has successfully conducted pre-clinical trial on mice with its one of the identified peptide epitopes against ABO.
Vaccines Market Segment Analysis - By Route of Administration
By Route of Administration, the Vaccines Market is segmented into Intramuscular, Subcutaneous, Oral and Others. Intramuscular segment held the largest market share in the year 2019 owing to the ease of supplying larger amount of drug or fluid in the muscles. An intramuscular injection is a technique used to deliver a medication deep into the muscles which allows the medication to be absorbed into the bloodstream quickly. Moreover, depending on the patient’s age, intramuscular injections are delivered at 90-degree angle to the skin, preferably into the anterolateral part of the thigh or the deltoid muscle of the upper arm. Also, subcutaneous, is projected to witness growth at CAGR of 7.1% in forecast period 2020-2025. A subcutaneous is a process of delivering medicine under the skin. In this type of route of administration, a small needle is used to inject a drug into the tissue layer between the skin and muscle. In addition, since there are few blood vessels in subcutaneous tissue, the injected drug is distributed very slowly at a sustained rate of absorption. Therefore, the administration of vaccines, growth hormones and insulin requiring continuous delivery at a low dose rate is highly successful.
Vaccines Market Segment Analysis - Geography
North America contributed to the largest market share of 39.2% in 2019 owing to increasing government initiatives for monitoring vaccine safety and conducting research on vaccine safety. Moreover, in U.S. the Centers for Disease Control and Prevention is responsible for childhood immunization. The schedule for vaccination is broken down by age: birth to six years of age, seven to eighteen years of age and nineteen and older adults. Besides this, in 2019 Mexico has been considered a regional immunization pioneer. For instance, AstraZeneca would manufacture 150 million doses of covid-19 vaccine in early 2021, in collaboration with the government of Mexico and Argentina, and would eventually make at least 400 million doses available for distribution in Latin America.
Vaccines Market Drivers
Increasing Number of Merger & Acquisition in Vaccine Industry, with An Aim to develop New Product
The increasing number of merger & acquisition in vaccine industry with an aim to develop new product is a significant factor driving the Vaccines market during the forecast period 2020-2025. With the ongoing pandemic major manufacturers have adopted different strategies including merger, acquisition for the development of vaccines which is eventually contributing to its market growth. For instance, in April 2020 AstraZeneca collaborated with the University of Oxford with an aim to bring to patients the potential vaccine known as Chadox1 nCov-19, being developed by the Jenner Institute and Oxford Vaccine Group, at the University of Oxford.
Increasing Government Initiatives for Immunization
Increasing government initiatives for immunization is a major factor driving the Vaccines Market during the forecast period 2020-2025. According to World Health Organization, immunization saves millions of lives and is widely recognized as one of the world’s most successful and cost-effective health interventions. In addition, vaccines save 3 million lives each year worldwide from infectious disease including hepatitis, diphtheria, tetanus, pertussis, measles and polio which in turn is boosting its market growth. Moreover, increasing government initiatives to create more awareness regarding vaccination is another factor contributing to its market growth. For instance, in Romania according to vaccination law parents who don’t get their kids vaccinated and keep them out of school need to pay a fine. According to this law doctors can be fined as well.
Vaccines Market Challenges
High Cost from Development to Compliance of Vaccines
High Cost from development to compliance of vaccines serves as a major setback for the growth of the Vaccines Market during the forecast period 2020-2025. Besides this, stringent rules and regulations regarding the efficiency of vaccines is restraining its market during the forecast period 2020-2025.
Vaccines Market Industry Outlook
Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Vaccines Market. Vaccines Market top 10 are Serum Institute of India Pvt. Ltd, Mitsubishi Tanabe Pharma Corporation, Johnson & Johnson, CSL Limited, Emergent Biosolutions Inc., AstraZeneca, GlaxoSmithKline, Sanofi, Merck & Co Inc., and Pfizer Inc.
Developments:
- July 2020: Moderna and Catalent collaborated for large-scale commercial fill-finish manufacturing of Moderna’s Mrna based covid-19 vaccine candidate at Catalent’s biologics facility in Bloomington, Indiana.
vaccines market, Pneumococcal Disease, vaccines market price, Influenza, vaccines market size, Rubella virus, vaccines market shape, vaccines market forecast, vaccines market analysis, vaccines market report, vaccines market research
Comments
Post a Comment