The report "Vaccines Market by Technology (Recombinant, Toxoid, Conjugate, RNA), Type (Monovalent, Multivalent), Disease (Pneumococcal, Influenza, DTP, HPV, MMR, COVID-19), Route of Administration (IM, SC, Oral), End user (Pediatric, Adult) - Global Forecast to 2028", is projected to reach USD 93.8 billion by 2028 from USD 77.6 billion in 2023, at a CAGR of 3.9% during the forecast period of 2023 to 2028.
Browse 251 market data Tables and 46 Figures spread through 291 Pages and in-depth TOC on "Vaccines Market by Technology (Recombinant, Toxoid, Conjugate, RNA), Type (Monovalent, Multivalent), Disease (Pneumococcal, Influenza, DTP, HPV, MMR, COVID-19), Route of Administration (IM, SC, Oral), End user (Pediatric, Adult) - Global Forecast to 2028"
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The global vaccines market is expected to grow at a CAGR of 3.9% during the forecast period. The growth of the market is projected to be driven by factors such as leveraging the increasing prevalence of infectious diseases, expanding immunization initiatives, robust government support & investment for vaccines development, launch of novel vaccines and harnessing advancements in vaccine technology.
The conjugate vaccines segment is expected to have the dominant share of the vaccines market in 2022.
Based on technology, the global vaccines market is segmented into recombinant vaccines, conjugate vaccines, live attenuated vaccines, toxoid vaccines mRNA vaccines, inactivated & subunit vaccines, viral vector vaccines and others (subunit vaccines, peptide vaccines, DNA vaccines) . In 2022, the m-RNA vaccines segment held the largest share of the vaccines market. conjugate vaccines segment is likely to grow at significant CAGR during the forecast period. The amplified government support coupled with heightened corporate investment in the realm of conjugate vaccine development are the driving factor for the growth of the conjugate vaccines segment during the forecast period.
The pneumococcal segment accounted for the largest share of the disease indication segment in the vaccines market in 2022.
Based on disease indication, the vaccines market is segmented into, influenza, combination vaccines, pneumococcal disease, HPV, meningococcal disease, herpes zoster, rotavirus, MMR, varicella, hepatitis, DTP, polio and other disease indications (COVID-19, dengue, tuberculosis, typhoid, japanese encephalitis, rabies, yellow fever, allergies, and cancer). The pneumococcal disease segment is anticipated to grow at significant CAGR during the forecast period owing to various factors such as surge in pneumococcal disease prevalence, paralleled by a substantial rise in government investment in pneumococcal vaccination programs.
The Asia Pacific region is the fastest-growing region of the vaccines market in 2022.
The Asia Pacific is accounted to be the fastest-growing segment of the market. The growth of the vaccines markets in the region is driven by escalating corporate investments within the Asia-Pacific region, driven by a rising tide of government backing for vaccine development, emergence and re-emergence of communicable diseases, rising disposable income and establishing specialized department for vaccines research and development. For instance in 2023, Japan has set up a new vaccine research funding unit for future pandemics to make a safe and effective vaccine available within 100 days of an outbreak
The vaccines market is consolidated, with a small number of players competing for market shares. GSK plc (UK), Merck & Co., Inc (US) Pfizer Inc. (US), Sanofi (France), CSL (Australia), Emergent (US), Johnson & Johnson Services, Inc (US), Astrazeneca (UK), Serum Institute Of India Pvt. Ltd (India), Bavarian Nordic (Denmark), Mitsubishi Tanabe Pharma Corporation (Japan), Daiichi Sankyo Company Limited (Japan), Panacea Biotec (India), Biological E Limited (India), Bharat Biotech (India) are some of the leading players in this market. Most companies in the market focus on organic and inorganic growth strategies, such as product launches, expansions, acquisitions, partnerships, agreements, and collaborations, to increase their product offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.
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