Vaccines Market

Leading Players Adopted Growth Strategy in Vaccines Market

The vaccines market is expected to reach USD 50.42 billion by 2023 from USD 36.45 billion in 2018, at a CAGR of 6.7%. Rising prevalence of infectious diseases, increasing government and nongovernment funding for vaccine development, and increasing companies initiative to enhance vaccine R&D are the factors driving the growth of the market. The increasing number of immunization programs in emerging regions is also providing an impetus to the vaccines market.

Partnerships, agreements, contracts, and collaborations accounted for the largest share of the overall growth strategy mapped from 2015–2018. Some of the leading players who adopted this strategy are Pfizer, Inc. (US), GlaxoSmithKline, plc (UK), Sanofi Pasteur SA (France), and Merck & Co., Inc. (US).

The vaccines market is highly competitive with several big and small players. Prominent players in this market include GlaxoSmithKline plc (UK), Pfizer, Inc. (US), Merck & Co., Inc. (US), Sanofi Pasteur SA (France), CSL Limited (Australia), Emergent BioSolutions, Inc. (US), Johnson & Johnson (US), MedImmune, LLC (US), Astellas Pharma Inc. (Japan), Serum Institute of India, Bavarian Nordic (Denmark), Mitsubishi Tanabe Pharma Corporation (Japan), and Daiichi Sankyo Company, Limited (Japan).

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In 2017, GlaxoSmithKline plc dominated the vaccines market. The company has managed to create a unique identity in this market due to its robust product portfolio and large geographic presence. In addition, the company also focuses on organic and inorganic growth strategies such as collaborations and agreements. For instance, in July 2016, the company collaborated with the Vaccine Research Center at the National Institutes of Health (NIH) (US) to evaluate a new vaccine for Zika known as SAM (self-amplifying mRNA). The company also focuses on product approvals to increase its product offerings. For instance, GSK received approval for Shingrix (used for the prevention of shingles (herpes zoster) in people aged 50 years or older) in Canada in October 2017.

Merck & Co., Inc. (US) was the second-largest player in the global vaccines market in 2017. The company focuses on increasing investments in R&D activities to enhance its product offerings, and invested USD 10.2 billion in R&D activities in 2017. Merck also collaborated with Premier, Inc. (US) to focus on a preventive care model that seeks to improve adolescent and adult vaccination rates. The company has its business spread across 140 countries, covering regions, such as the Americas, Asia Pacific, Europe, and the Middle East.

Related Reports:

Vaccines Market by Technology (Live, Toxoid, Recombinant), Disease (Pneumococcal, Influenza, DTP, HPV, Hepatitis, Meningococcal, Rotavirus, Polio, MMR, Varicella, Dengue), Route (IM/SC, Oral), Patient (Pediatric, Adult), Type - Global Forecast to 2023

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Report Code
PH 6528
Published ON
Aug, 2018
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