DUBLIN–(BUSINESS WIRE)–The “Global Vaccine Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
The global vaccine market is on a trajectory for remarkable growth, with projections indicating it will reach an impressive $92.32 billion by 2028, up from $56.16 billion in 2022. This significant growth can be attributed to several factors, including the increasing demand for sustainable and eco-friendly materials, the expanding use of vaccines in the food and pharmaceutical sectors, advancements in the textile and apparel industry, and the expanding personal care and cosmetic industry.
Public Health Impact
The utilization of vaccines in both the treatment and prevention of infectious diseases has had a profound positive impact. Immunization effectively curbs the spread of diseases, safeguarding both vaccinated and unvaccinated individuals. Extensive research consistently confirms the reliability, safety, and efficacy of vaccines. Importantly, immunization is a cost-effective public health strategy, preventing expensive treatment of preventable diseases.
Technological Advancements
The field of vaccine technology has witnessed remarkable advancements, driven by the need for swifter responses and enhanced efficacy. Innovations such as genetic engineering have paved the way for the development of new vaccines, including attenuated virus vaccines. These advancements have allowed for rapid detection and higher concentration levels, enabling more effective and efficient vaccine production.
However, it is essential to acknowledge the challenges that persist in vaccine development. The process is both lengthy and complex, taking an average of 10 to 15 years to complete. Variations in materials, equipment, and stringent regulatory requirements further contribute to the complexity of the vaccine development process, which subsequently affects market growth.
Key Players in the Global Vaccine Market
- GlaxoSmithKline plc
- AstraZeneca plc
- Sanofi Pasteur
- Pfizer Inc.
- CSL Limited
Vaccine Market Segmentation
The vaccine market comprises various segments, with the following playing a significant role:
- Influenza Vaccine: Seasonal influenza continues to pose a global threat, with millions of cases, hospitalizations, and fatalities reported annually. Influenza vaccines reduce the risk of illness by 40% to 60% worldwide, including in the United States. Emerging markets are witnessing a surge in demand for influenza vaccines due to high disease prevalence and limited access to vaccination.
- Combo Vaccines: Combination vaccines that provide protection against multiple diseases with a single shot are gaining popularity. They offer convenience to patients and healthcare providers while remaining highly effective. Combo vaccines also contribute to cost savings, making them a preferred choice. Government initiatives, growing awareness of the benefits of vaccination, and advancements in vaccine technology have fueled their growth.
- Pneumococcal Vaccine: Pneumococcal diseases, caused by Streptococcus pneumoniae, are a global threat. Vaccinations, particularly pneumococcal conjugate vaccines (PCV13) for young children, have gained widespread use. Emerging regions with limited vaccine access are witnessing increasing demand for pneumococcal vaccines. These vaccines are experiencing substantial market growth due to new discoveries, growing awareness, and improved accessibility.
- Pediatric Vaccine: The importance of vaccinating children against diseases like measles, mumps, and rubella (MMR) cannot be overstated. These vaccines are crucial in preventing severe childhood illnesses and saving lives. Growing awareness and improved global access to pediatric vaccines are contributing to higher childhood immunization rates.
The global vaccine market is expected to be dominated by pediatric vaccines, with both pediatric and adult vaccines playing pivotal roles in preventing the spread of infectious diseases worldwide. As vaccines continue to save lives and enhance public health, key players in the industry remain dedicated to innovation, research, and development to meet the evolving needs of the global population.
Key Attributes:
|
Report Attribute |
Details |
|
No. of Pages |
370 |
|
Forecast Period |
2022 – 2028 |
|
Estimated Market Value (USD) in 2022 |
$56.16 Billion |
|
Forecasted Market Value (USD) by 2028 |
$92.32 Billion |
|
Compound Annual Growth Rate |
8.6% |
|
Regions Covered |
Global |
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Driver
4.2 Challenges
5. Global Vaccines Market
5.1 Adult Vaccines Market
5.2 Pediatric (Infant) Vaccines Market
6. Global Vaccinated People
6.1 Adult Vaccinated People
6.2 Pediatric (Infant) Vaccinated People
7. Share Analysis – Global Vaccines Market & People
7.1 Vaccine Market Share
7.2 By Country
7.3 Vaccinated People Share
8. Categories – Global Vaccines Market & People Share
8.1 Adult VsPediatric (Infant) Vaccines Market Share
8.2 Adult VsPediatric (Infant) Vaccines Number Share
9. Disease wise – Vaccines Market and Forecast
10. Disease wise – Numbers of Vaccinated People & Forecast
11. Country – Global Vaccine Market
12. Porter’s Five Forces
13. SWOT Analysis
14. Vaccines Key Players Sales
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