Global Vaccine Market Analysis

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  • Type: Therapeutics Area
  • Published : March 2021
  • Region: Worldwide
  • Country: Other
  • Report ID : 362

  • Format: PPT, PDF

Global Vaccines Market Size, Share Segmented by Type (Recombinant/Conjugate/Subunit, Inactivated, Live Attenuated, and Toxoid), By Route of Administration (Parenteral and Oral), By Age Group (Paediatric and Adults), By Distribution Channel (Hospital & Retail Pharmacies) and Region Forecast, 2019-2028

 

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Report Overview

The global vaccines market size stood at around USD 46.88 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

Vaccines are the most powerful and cost-effective way to protect billions of populations around the world. Vaccine development has the potential to transform health by eliminating the burden of life-threatening infectious diseases among the population of the affluent nations. World Health Organization (WHO) states that immunization awareness and government initiatives have helped in preventing 2-3 million deaths annually. Greater investments coupled with merging and partnerships of companies are boosting the production and sales of products all over the world. One of the biggest challenges faced by organizations and companies around the world is the ongoing trial and error for effective vaccines to fight diseases such as malaria, HIV, and tuberculosis. Government and pharmaceutical companies are making enormous efforts in establishing arrangements for the development of products for such diseases.

Market Drivers and Restraints

One of the crucial and significant drivers for the vaccines market growth is the increasing supply of products across the globe to meet the unmet needs and abide by the immunization policies to eradicate endemic diseases. Pharmaceutical companies, government foundations, international organizations, and hospitals are strongly focused on providing cost-effective and regular immunization to people worldwide. Government surveillance in all the countries has become active in ensuring that every individual is vaccinated by recommended ones at a minimum cost or no cost.

Another critical factor driving the vaccine market is the competitive pipeline, including products of major as well as emerging players. Being a vast and heterogeneous market, the players are struggling in getting approvals from the regulatory bodies for their products.

Despite, higher prevalence of chronic and infectious diseases, certain factors are limiting the adoption of products. Among them is the high cost associated with the per dose vaccine volume. Though international organizations are playing their best part in supplying millions of volume doses to every corner of the country, still there are many parts to receive vaccination amid their high cost.

Vaccines by Disease Indication

Based on disease indication, the market can be segmented into viral diseases (hepatitis, influenza, human papillomavirus, measles/mumps/rubella, rotavirus, herpes zoster, and others) and bacterial diseases (meningococcal disease, pneumococcal disease, diphtheria/tetanus/pertussis, and others). Bacterial diseases segment holds the dominant position in the market revenue owing to higher sales of pneumococcal, meningitis, and DTP across the globe. These are the first-line immunization for a new-born as well as booster doses for pediatrics.

Viral diseases segment is forecasted to have the highest CAGR owing to the upcoming launch of viral vaccines and an increasing demand for sales of HPV and influenza products. Recently, Janssen Pharmaceutical Companies announced providing 200,000 Ebola vaccines regimen to the citizens of Rwanda in East Africa, aiming to prevent them from Ebola outbreak.

 

1. Global Vaccines Market Overview………………..……………………………………..
A. Market Size
2. Market Growth Drivers and Restraints…………………………………..…………
A. Market Drivers
I. Strong Supply Backed Up by Robust R&D
II. Competitive Pipeline
B. Market Restraints
I. High Cost Associated with Vaccine Dose
3. Vaccines by Disease Indication…………………………………..…………….………
A. Viral Diseases
B. Bacterial Diseases
4. Vaccines Market Segmentation……………..…………………………………………..
A. By Type
I. Recombinant/Conjugate/Subunit
II. Inactivated
III. Live Attenuated
IV. Toxoid
B. By Route of Administration
I. Parenteral
II. Oral
C. By Distribution Channel
I. Hospital Pharmacies & Retail Pharmacies
II. Government Suppliers
III. Others
D. By Age Group
I. Paediatrics
II. Adults
E. By Geography
I. North America Market Analysis
II. Europe Market Analysis
III. Asia-Pacific Market Analysis
IV. Middle-East and Africa Market Analysis
V. Latin America Market Analysis
5. Vaccines Major Market Share…………………………………………………………
A. Market Analysis, Insights and Forecast
6. Competitive Landscape………………………………………………………….……
A. Major Players
B. Mergers and Acquisitions
7. Key Company Profiles………………………………………………………………….
A. GlaxoSmithKline Company overview, Product & Services, Strategies & Financials
B. Pfizer Company overview, Product & Services, Strategies & Financials
C. Sanofi Company, Product & Services, Strategies & Financials
8. Potential Market Opportunities……………………….………………………..…
A. Growth opportunities in the emerging markets
B. Increase in healthcare spending
9. Factors Driving Future Growth………………………………………………………
A. Key Industry Developments
B. Strategic Recommendations
10. Conclusion

Market Segmentation

By Type:

The vaccine type segment of the market is categorized into recombinant /conjugate/subunit, inactivated, live attenuated, and toxoid vaccines. Ability to elicit an appropriate immune response, long term protection, and simplified large scale manufacturing are responsible for higher production, sales, and demand of recombinant/subunit/conjugate. These are also generally preferred as they pose no risk of pathogenicity. Additionally, the recombinant/conjugate/subunit is anticipated to have a higher CAGR as well owing to the availability of various delivery systems options. Recently, USFDA approved Vaxelis, a combination vaccine against DTP. It was developed by Sano and MSD under joint-partnership.

By Route of Administration:

Based on the route of administration, the market is segmented into parenteral and oral. The maximum supply and sales of the parenteral route across the globe have led to the generation of larger revenue by parenteral products in the year 2019. This dominance is likely to remain constant throughout the forecast period owing to the increasing prevalence of bacterial and viral diseases. Moreover, higher procurement volume by governmental organizations is likely to increase the demand for parenteral dose reflecting higher revenue generation during the forecast period.

The oral segment is predicted to witness a comparatively slower growth rate owing to challenges faced in developing countries. These are required to overcome the harsh gastrointestinal environment and avoid tolerance induction to achieve effectiveness. This is the current pharmaceutical challenge for all the companies before planning to launch into the market.

By Age Group:

The age group segment is classified as paediatric and adults. Paediatric Injections hold the highest vaccines market share in terms of value. The potential size of these are mainly dependent on two factors; worldwide growing birth cohort and increasing paediatric vaccination doses. According to the World Health Organization (WHO), during 2018 about 86% of the infants worldwide received 3 doses of DTP-3 injections that protect against diphtheria-tetanus-pertussis.

Adult injection products are anticipated to register a higher CAGR owing to a rise in research & development of this segment, and a strong pipeline with upcoming product launch is likely to increase the growth of the segment during the forecast period.

By Distribution Channel:

Based on the distribution channel, the market can be segmented into hospital & retail pharmacies, government suppliers, and others. Hospital & retail pharmacies are anticipated to have a dominant revenue share because vaccinations are a shorter duration procedure often conducted at smaller institutions. Also, people prefer nearby vaccination access. Hospital and retail pharmacies across the globe are under government surveillance to ensure the demand is met and have adequate volume stock.

By Region:

North America generated a revenue of USD 24.88 billion in 2019 and is anticipated to emerge dominant in the global market during the forecast period. Steady and dominant growth of the market in North America due to the number of factors that includes vaccination awareness, the presence of strong manufacturers, and secure government policy regarding health welfare. It also has a focus on implementing immunization across the North American countries through adequate financing policies.

Asia Pacific is expected to witness tremendous growth in the market value across the region. The countries of Asia Pacific have heterogeneous classes of economic development, which results in varied approaches to immunization. Japan dominates Asia Pacific market with the highest market share. The increasing population of countries such as China and India is the major factor responsible for the demand for injections.

On the other hand, Europe is projected to witness steady growth in the market. The high-growth countries such as Germany and France are likely to contribute to the expansion of the European market. Latin American and Middle East & Africa are expected to register slightly higher growth owing to the increasing demand for immunization to cater to the prevalence of chronic diseases requiring vaccination specifically in the African countries. Additionally, the launch of immunization implementation programs by the government is also likely to increase the sales-generating higher market value.

Top 5 Major Players

The global market is dominated by large suppliers across the globe. The top market key players, such as GlaxoSmithKline plc, Sanofi, Pfizer Inc., Merck & Co., Inc. and Novartis AG account for the majority of the market. These companies have a strong product portfolio, the capability of strategic decisions, and focus on resolving the unmet needs in eradicating complex diseases through vaccination.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

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Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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