Vaccines Market

Market Synopsis:

The global Vaccines market valued at USD 43.80 Billion in 2022 and is projected to reach a value of USD 90.52 Billion by 2030 at a CAGR of 9.50% over the forecast period.

Vaccines are the most effective and cost-effective way to protect billions of people around the world. Vaccine development has the potential to transform health by removing the burden of life-threatening infectious diseases from the populations of affluent nations. The government and pharmaceutical companies are putting in enormous effort to set up arrangements for the development of products for such diseases. Furthermore, the rising prevalence of endemic and infectious diseases is expected to drive vaccine market growth during the forecast period. Increased investments, combined with company mergers and partnerships, are boosting global product production and sales.

The market is expected to grow positively in 2021 as a result of increased investments in disease research and development. Additionally, the launch of potential products is expected to contribute to market growth during the forecast period. Government foundations, hospitals, and pharmaceutical companies are putting a strong emphasis on regular immunization and providing cost-effective immunization to people all over the world. Government surveillance has become active in all countries to ensure that everyone is vaccinated at a low or no cost. One of the key factors driving market growth is the rising demand for Vaccines such as diphtheria, tetanus, and pertussis.

Market Segmentation:

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The Vaccines market is segmented on the basis of Technology (excluding COVID 19 Vaccines), Technology (including COVID 19 Vaccines), Type, Disease Indication, Route of Administration and End-user. On the basis of Technology (excluding COVID 19 Vaccines ), the market is segmented into Conjugate Vaccines , Inactivated & Subunit Vaccines , Live Attenuated Vaccines , Recombinant Vaccines , Toxoid Vaccines and Viral vector Vaccines . On the basis of Technology (including COVID 19 Vaccines ), the market is segmented into In-store mRNA Vaccines , Viral Vector Vaccines and Other Vaccines (inactivated, recombinant, conjugate, subunit, peptide, and DNA Vaccines ). On the basis of Type, the market is segmented into Monovalent Vaccines and Multivalent Vaccines . On the basis of Disease Indication, the market is segmented into Influenza, Pneumococcal diseases, Combination Vaccines , HPV, Herpes Zoster, Meningococcal diseases, Rotavirus, MMR, Varicella, Hepatitis, DTP, Polio, COVID 19 and Other disease indications (cancer, dengue, tuberculosis, typhoid, Japanese encephalitis, rabies, yellow fever, and allergies). On the basis of Route of Administration, the market is segmented into Intramuscular & Subcutaneous administration, Oral administration and Other routes of administration (intranasal, intradermal, and percutaneous). On the basis of End-user, the market is segmented into Pediatric Vaccines and Adult Vaccines.

Based on Type

Monovalent Vaccines held the largest share of the global Vaccines market (excluding COVID-19 Vaccines ). Growing disease prevalence has prompted immunization campaigns against specific infectious diseases such as COVID 19. As a result, monovalent Vaccines have a sizable market share. The rising prevalence of emerging and re-emerging infectious diseases, combined with R&D initiatives, will propel the market for monovalent Vaccines .

Based on Route of Administration

On the basis of Route of Administration, the intramuscular and subcutaneous administration segment held the greatest share of the Vaccines market (excluding COVID-19 Vaccines). Because of its precise control of dose and administration rate, rapid antigen exposure, and ease of administration, intramuscular and subcutaneous vaccination is one of the most common routes of administration for Vaccines .

North America Held the Largest Share of Vaccines Market in 2021

North America is projected to acquire the largest market share during the year 2021 with a share of 41.50%. North America has the largest market share, with the United States accounting for the majority of its revenue. The Advisory Committee for Immunisation Practices (ACIP) of the Centres for Disease Control and Prevention (CDC) publishes adult and childhood vaccination recommendations on a regular basis in the United States. The United States has one of the world's leading healthcare systems, and vaccination coverage, in terms of vaccine inclusion, is on par with WHO guidelines. As a result, the region's preventive vaccine market is expected to grow at a moderate rate over the forecast period.