The latest report on Vaccine Market by Infinium Global Research gives complete coverage of the vaccine market by type (conjugate, recombinant, inactivated, combination, attenuated, and others), application (infectious disease, cancer, allergy, and others) in terms of key trends, market size, forecast and CAGR growth over the period of 2018 to 2024. In addition, the study covers deep dive into key product and application trends in the regional markets of vaccines such as North America, Europe, Asia-Pacific, and Latin America over the short run and long run.
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Vaccination is one of the highly effective and safe methods for preventing certain infectious diseases. Vaccination is widely used to stimulate immunity against the specific antigens, exogenous, endogenous, or cells producing them. Vaccination helps in developing immunity by working with the body’s natural defenses. Several types of vaccines are currently available that include live virus vaccines, inactivated vaccines, toxoid vaccines, biosynthetic vaccines, and many other common vaccines.
There is a recent advancement in the vaccine industry in Europe that is playing an important role in research and development of preventive as well as therapeutic vaccines. Advanced technologies such as hybridoma technologies and the use of recombinant DNA has been the result of new knowledge and technology that has emerged from basic research. A recent development in vaccines includes DNA plasmid technology, use of live viral vector vaccines, and immunotherapy. These developments in vaccines are beneficial in preventing diseases such as cancer, rheumatic disorders, HIV/AIDS, Alzheimer’s disease, viral diseases, parasitic diseases, bacterial diseases, and others.
Increasing Prevalence of Infectious Diseases Drives the Growth of the Vaccine Market
Increasing the prevalence of infectious diseases drives the growth of the vaccine market. Vaccination reduces the burden of infectious diseases. According to the world health organization, nearly 50,000 men, women, and children are dying every day from infectious diseases. Growing research and development activities in the emerging economies fuel the growth of the vaccine market. The government initiatives and support for the development of vaccines are likely to augment the growth in the vaccine market. Moreover, aging-related metabolic diseases such as diabetes, atherosclerosis, hypertension, and dyslipidemia have been increased over the past decades that in turn contribute to the adoption of vaccines. However, the high cost associated with the development of vaccines may hamper the growth of the vaccine market.
Vaccine market: Segmentation
The global vaccine market categorized into segments such as type, and application. The type segment is divided into conjugate, recombinant, inactivated, combination, attenuated, and others. Among these types, the conjugate type holds more than 35% of the market share. Conjugate vaccines have advantages such as the ability to elicit immunological memory, to reduce asymptomatic carriage of the bacteria, which results in marked herd immunity. Based on the application, the global vaccine market is divided into cancer, infectious diseases, Allergy, and others. Among these applications, infectious diseases hold more than 70% of the market share.
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North America Region Dominates the Vaccine Market
Among the geographies, North America region dominates the vaccine market. North America holds around 40% of vaccine market share. Growing investment and support by government, increasing research and development activities, increasing healthcare expenditure contribute to the growing vaccine market in the North America region. The Asia Pacific is the fastest-growing region for the vaccine market. In South Africa, new vaccines are developed to protect against hepatitis B, Haemophilus influenza type b, Streptococcus pneumonia, rotavirus, and human papillomavirus. These vaccines are beneficial and have a huge impact on the health of children in South Africa that in turn, contribute to the growth of the vaccine market in the region.
Vaccine Market: Competitive Analysis
The prominent players in the vaccine market are Mitsubishi Tanabe, AstraZeneca, Merck & Co. Inc, GlaxoSmithKline plc (GSK), Pfizer Inc., SANOFI S.A, NOVARTIS AG, Takeda Pharmaceuticals, Astellas Pharma Inc., Emergent BioSolutions, and other companies.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the vaccine.
- Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.