COVID-19 impact on Vaccines Market Overview, Top Players

The global vaccines market was valued at $31,216 million in 2016, and is projected to reach $65,148 million by 2023, growing at a CAGR of 10.9% from 2017 to 2023.

High prevalence of diseases worldwide, surge in government focus towards immunization programs, and the emergence of technologically advanced vaccines drive the growth of the global vaccines market. Additionally, the prospect of high growth in emerging economies provides lucrative opportunities for emerging market players. However, high duration for vaccine production and high cost associated with it impede market growth.

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Key Findings of the Vaccines Market:

The recombinant vaccines segment is anticipated to grow at the highest growth rate during the forecast period.

The human papilloma virus (HPV) vaccines segment is expected to grow at a rapid rate, registering a CAGR of 12.4% from 2017 to 2023.

North America dominated the global vaccines market, accounting for maximum share of overall market in 2016.

Asia-Pacific is exhibited to grow at a high growth rate of 12.0%, owing to the high demand for vaccination in densely populated area, such as India and China.

The pediatric vaccines segment generated highest revenue in 2016, and is expected to continue its dominance in the future as well.

The traveler vaccines segment is expected to exhibit high growth rate during forecast period, attributed by international travelers and mandated vaccination for immigrants before traveling.

Based on indication, the market is categorized into Pneumococcal Disease, Influenza, Human Papilloma Virus, Meningococcal Disease, Rotavirus, Varicella, Diphtheria, Pertussis, & Tetanus (DTP), Polio, Hepatitis, Measles, Mumps, & Rubella (MMR), and Other Indications. The pneumococcal disease segment is expected to maintain its dominance during the forecast period, owing to the fact that Streptococcus pneumoniae (a pathogenic bacteria) is the leading cause of infectious diseases globally. However, human papilloma virus (HPV) segment is growing at the highest CAGR of 12.4% from 2017 to 2023, as it is the most common type of sexually transmitted disease, specifically in women, which causes cervical cancer, the fourth most common type of cancer prevailing in women. Regionally, North America dominated the global vaccines market in 2016. However, Asia-Pacific is poised to exhibit the highest growth rate of 12.0%, owing to the high demand for vaccination in densely populated areas, such as India and China.

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Asia-Pacific has witnessed highest growth rate for vaccines, and is expected to continue this trend. This is attributed to increase in sizeable population, rise in incidence of HIV & cancer cases, healthcare infrastructural development, and huge market potential, owing to the new arrival of preventive, therapeutic, and adult vaccines by key players focusing on the emerging markets.

Key players operating in the vaccines market have adopted product launch as their key developmental strategy, and focus on launching innovative products to cater to the consumer requirements and strengthen their market share. The major companies profiled in the report include Astellas Pharma Inc., Astrazeneca Plc. (Medimmune, LLC.), CSL Limited, Emergent Biosolutions, Inc., Glaxosmithkline Plc., Johnson & Johnson, Merck & Co., Inc., Pfizer Inc., Sanofi Pasteur, and Serum Institute of India Pvt. Ltd.

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