As public healthcare-focused organizations strive to improve vaccination coverage, we expect the market to grow at a CAGR of 12.74% from 2021 to 2026. The global preventive vaccines market size is estimated to be USD 78.93 billion by 2026 from USD 43.34 billion in 2021.
Although vaccines were solely responsible for the global eradication of small polio, several vaccine-preventable diseases, such as measles and mumps, are still a threat. COVID-19 has been recently added to the list.
The vaccine market accounts for only 5% of the global pharmaceuticals market. However, recently there has been substantial growth owing to the rising incidences of cancer & HIV cases. Nevertheless, there has been rapid growth over recent years, with the vaccine market magnifying in value from USD 5 billion in 2000 to almost USD 25 billion in 2013. World Health Organization (WHO) growth estimations indicate the market may increase in value to nearly 60 billion in 2020, with the arrival of new therapeutic, preventive, and adult vaccines.
Current Industry Scenario:
The global Preventive Vaccines Market is different from any other product market. Compared to the pharmaceutical market, it is relatively small, although growing at a fast rate. There are presently close to 120 new vaccines in the pipeline of various multinational companies across the globe set to hit the market in the next few years. The global Preventive Vaccines Market is relatively concentrated on both the supply and demand sides. It is highly regulated and mostly dependent on public purchasers and donor policies. It has very distinct features that increase the complexity of assessing and understanding pricing and procurement in their context.
The growing infectious disease burden is expected to contribute significantly to the growth of the Preventive Vaccines Market.
Growing investments by the key market players and increasing funding from the governments for vaccine developments propel global market growth.
Furthermore, the rising prevalence of the disease, technological advancements to decrease the new vaccine development time, and initiatives by NGOs also contribute well to the Preventive Vaccines Market growth.
However, massive capital expenditures and stringent regulatory policies, high costs associated with treatment are few factors inhibiting the growth of the global Preventive Vaccines Market. The lack of skilled and efficient labor required for manufacturing the vaccine among the pharmaceutical and biotechnology companies is to curb the market growth rate. The high cost of the raw materials required in the laboratories to develop a vaccine impedes the market demand.
Impact of COVID-19 on the global preventive vaccines market:
World Health Organization has announced COVID-19 as an emergency health issue. The COVID-19 has positive vibes in the vaccine market. The World Health Organization (WHO) declared the coronavirus epidemic a public health emergency in January 2020. The COVID-19 pandemic has posed several major problems, impacting public health and economic processes, socio-cultural trends, etc. Many countries are starting to introduce COVID-19 vaccines, bringing the fight against the global pandemic new hope.
Owing to increasing healthcare spending, evolving vaccine technologies, and increased demand for preventive vaccines, especially new COVID-19 vaccines, the market has demand during this pandemic. Scientists worldwide are currently conducting research, sharing knowledge, establishing laboratory capability in developing countries, and establishing global monitoring networks to prevent and monitor their spread by preventive vaccines. The Preventive vaccine industry is positive about the COVID-19. Pharmaceutical and biotechnology firms are working together to develop and manufacture the vaccine. The global preventive vaccines market is expanding due to the growing prevalence of infectious diseases, advanced vaccine research technologies, increased support from government and foreign organizations, and increased awareness about preventive care. Pfizer Inc., Sanofi is among the key companies participating in the development of the COVID-19 vaccine. By considering all these factors, the Preventive Vaccine Market has positive growth due to this pandemic.
The pharmaceutical companies and the biotechnology industries are collaborating to innovate and manufacturing the vaccine. The market key players like Pfizer and BioNTech have made some clinical trials and have produced millions of doses. In the present situation, more research and development activities are being encouraged for COVID-19 vaccines. Scientists and experts are working continuously to develop an effective vaccine in a short period. In October 2020, the FDA approved Veklury (remdesivir), the first drug approved for treating COVID-19 patients. It is intentionally used in adults and children of 12 years and above. Key players involved in the manufacturing of the COVID-19 vaccine are Pfizer Inc., Sanofi, Johnson & Johnson Services Inc. are playing an important role in producing a vaccine for COVID-19.
Market Size Available
2020 to 2026
2021 to 2026
By Product Type, Application, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
This research report on the global Preventive Vaccines Market has been segmented and sub-segmented based on the product type, application, and region.
Preventive Vaccines Market - By Vaccine Type:
Based on the vaccine type, over 20% of the market share was occupied by Live, Attenuated Vaccines in 2019. Recombinant Vector Vaccines and Conjugate Vaccines were at the second and third position in leading the market shares. An increasing number of people who have cancer and other infectious diseases significantly influence this segment's growth. Increasing expenditure on healthcare, especially in urban areas, is promoting the development of the market. The inactivated vaccines segment is growing at a faster rate for the past few years. The rise in awareness among physicians over the availability of different vaccines for various diseases is gearing up the growth rate of the market.
Preventive Vaccines Market - By End-User:
Based on the end-user, the pneumococcal segment holds prominent shares of the market with the rise in pharmaceutical companies' investments by private and public organizations. The growing prevalence of improving treatment procedures to promote the patient's wellbeing is likely to outshine the market demand eventually.
Preventive Vaccines Market - By Region:
North America leads the global preventive vaccines market due to the quick adoption of the latest technologies and innovative drugs & vaccines. The rise in pharmaceutical companies' scale and ongoing research in the biotechnology field is leveraging the demand for the Preventive Vaccines Market in North America.
Europe is next to North America is leading the highest shares of the market with the rise in the geriatric population. Growing revenue in almost every country is also a primary factor for increasing in this region.
The Asia Pacific is to have a significant growth rate in the coming years, increasing support from the government by launching reimbursement schemes in favor of ordinary people.
KEY MARKET PLAYERS:
Some of the promising companies dominating the global preventive vaccines market profiled in the report are GlaxoSmithKline PLC, Merck and Company, Bavarian Nordic, CSL Limited, Emergent BioSolutions Inc., Novartis AG, Johnson and Johnson, MedImmune LLC, Pfizer, Inc., and Sanofi Pasteur.
Vaccine developers are putting in significant efforts to ensure that their candidates are clinically and commercially competent to achieve a competitive edge. Several companies have received substantial funding for their proprietary product portfolios; majorly, they are mid-sized companies based in North America. Around 70 companies in different regions worldwide claim to provide contact development, fill/finish, and regulatory support, besides manufacturing services.
RECENT MARKET HAPPENINGS:
On February 3, 2020, GSK and CEPI have recently announced that they will collaborate to develop a vaccine for the nCoV virus with the help of vaccine adjuvant platform technology developed by GSK. A more significant number of people are benefitting from the antigen-sparing effect. The primary goal of the collaboration is to develop vaccines rapidly by decreasing the dose of vaccine antigens to provide a cure for a large group of people affected by the coronavirus.
On December 31, 2019, Bavarian Nordic completed the acquisition of production and distribution rights of Encepur and RabAvert from GSK. With this deal completed, the company has expanded its product portfolios such as vaccines for monkeypox, smallpox, and other commercial products to provide growth opportunities for the company during the forecast period.
On January 8, 2020, Serum Institute of India Pvt. Ltd and Staten's serum institute have entered into a strategic partnership to intensify vaccines' development for tuberculosis. Serum Institute has developed a 10-valent pneumococcal conjugate vaccine called pneumosil, which contains CRM197, which the institute also produces under pfenex expression technology. The world health organization has prequalified the vaccine.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Analysis Design
2.3 Research Phases
2.3.1 Secondary Research
2.3.2 Primary Research
2.3.3 Econometric Modelling
2.3.4 Expert Validation
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Vaccine Type
5.1.1 Live, Attenuated Vaccines
5.1.2 Inactivted Vaccines
5.1.3 Toxoid Vaccines
5.1.4 Subunit vaccines
5.1.5 Conjugate vaccines
5.1.6 DNA vaccines
5.1.7 Recombinant vector vaccines
5.2 By End User
5.2.1 Paediatric Vaccine
5.2.2 Adult Vaccines
126.96.36.199 Cervical Cancer
6. Geographical Analysis
6.1 North America
6.1.2 United States
6.3.5 South Korea
6.4 Latin America
6.5 Middle East & Africa
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 GlaxoSmithKline, plc.
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Merck and Company
8.3 Bavarian Nordic
8.4 CSL Limited
8.5 Emergent BioSolutions Inc.
8.6 Novartis AG
8.7 Johnson and Johnson
8.8 MedImmune, LLC
8.9 Pfizer, Inc.
8.10 Sanofi Pasteur
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.1 Market Outlook
10.2 Investment Opportunities
a) List of Tables
b) List of Figures