The Insight Partners’ report on the Vaccines Market aims at developing a better understanding of the Vaccines industry through qualitative and quantitative analysis of the key market parameters. The Vaccines market is classified on the basis of Types, Applications, and End-user, and the market is evaluated in terms of growth, value, and volume across five major geographical regions.
According to a new market research study titled ‘Vaccines Market – Global Analysis and Forecasts by Technology, Disease Indication, Route of Administration, and Patient Type. The global vaccines market is expected to reach US$ 64,538.4 Mn in 2027 from US$ 36,998.8 in 2018. The market is estimated to grow with a CAGR of 6.5% from 2019-2027. The report highlights the trends prevalent in the global vaccines market and the factors driving the market along with those that act as deterrents to its growth.
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Topmost Players:
- PFIZER INC
- GlaxoSmithKline plc.
- Merck & Co., Inc.
- Sanofi
- Johnson & Johnson Services, Inc
- Panacea Biotec Limited
- Astellas Pharma Inc.
- NOVAVAX, INC.
- VBI Vaccines Inc.
- Bavarian Nordic
The Vaccines market by technology is segmented into Recombinant vaccines, Conjugate Vaccines, Live Attenuated Vaccines, Inactivated Vaccines, and Toxoid Vaccines. In 2018, the conjugate vaccines segment held a largest market share of 65.1% of the vaccines market, By Technology. This segment is also expected to dominate the market in 2027 as they are the most effective forms of immunization, used to prevent diseases in both infants and adults. Moreover, the similar segment is anticipated to also witness the fastest growth rate of 6.7% during the forecast period, 2019 to 2027 owing to the increasing demand for drugs to treat the disease.
Driving factors such as, growing focus on immunization programs, increasing support for vaccine development, rising prevalence of infectious diseases. However, the complexity and cost of vaccine manufacturing and soaring costs of vaccines are likely to pose a negative impact on the market growth. On the other hand, robust pipeline of vaccines is likely to have a positive impact on the growth of the global vaccines market in the coming years.
Strategic Insights
Product approvals and collaborations were observed as the most adopted strategy in global vaccines industry. Few of the recent product key developments are listed below:
2019: Merck, known as MSD outside of the United States and Canada, announced that V114, the company’s investigational 15-valent pneumococcal conjugate vaccine, has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration (FDA) for the prevention of invasive pneumococcal disease (IPD). The Breakthrough Therapy Designation is an FDA program designed to expedite the development and review of drugs intended for serious or life-threatening conditions.
2018: The European Commission has granted marketing authorization for Dengvaxia, Sanofi’s dengue vaccine. The marketing authorization follows the October 18, 2018, recommendation by the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) to approve use of the dengue vaccine in European endemic areas.
2018: Pfizer entered into a multi-year research and development (R&D) collaboration with BioNTech AG to develop mRNA-based vaccines
Answers that the report acknowledges:
- Market size and growth rate during forecast period
- Key factors driving the “VACCINES” market
- Key market trends cracking up the growth of the “VACCINES” market
- Challenges to market growth
- Detailed company profiles of key vendor of “VACCINES” market
- Detailed SWOT analysis of ten profiled companies
- Opportunities and threats faces by the existing vendors in Global “VACCINES” market
- Trending factors influencing the market in different geographical regions
- Strategic initiatives focusing the leading vendors
- PEST analysis of the market for the five major regions
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