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Respiratory Disease Vaccine Market Size

Report ID: GMI10115
Published Date: Jul 2024
Report Format: PDF

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Respiratory Disease Vaccine Market Size

Respiratory Disease Vaccine Market size was valued at around USD 65 billion in 2023 and is estimated to grow at 4.1% CAGR from 2024 to 2032. The increasing prevalence of respiratory diseases, such as asthma, COPD, and influenza, is fueling the growth of the market.

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For instance, according to the Centers for Disease Control and Prevention (CDC), chronic lower respiratory diseases (including asthma) accounted for a significant burden in the U.S. In 2021, the number of deaths due to chronic lower respiratory diseases was 147,382, with a death rate of 44.2 per 100,000 population, ranking as the 6th leading cause of death. This rise in respiratory illnesses has prompted a greater demand for preventative measures like vaccines. Considering latest pandemic as governments and healthcare organizations prioritize respiratory health, the market for vaccines targeting these diseases is expected to expand further, driven by the urgent need to reduce disease burden and improve public health outcomes.

Respiratory Disease Vaccine Market Report Attributes
Report Attribute	Details
Base Year:	2023
Respiratory Disease Vaccine Market Size in 2023:	USD 65 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	4.1%
2032 Value Projection:	USD 93.8 Billion
Historical Data for:	2021 - 2023
No. of Pages:	135
Tables, Charts & Figures:	252
Segments covered:	Technology, Age Group, Infection, Distribution Channel, and Region
Growth Drivers:	Increasing prevalence of respiratory diseases Rising burden of diseases such as influenza, pneumonia, pertussis, and respiratory syncytial virus (RSV) Rising technological advancements Growing healthcare expenditure
Pitfalls & Challenges:	Complexity of developing vaccines due to evolving pathogens, increased expenses, and extended development times

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A respiratory disease vaccine is a type of immunization designed to protect against diseases that affect the respiratory system, which includes the lungs and airways. These vaccines work by stimulating the body's immune system to recognize and fight specific pathogens that cause respiratory infections.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Respiratory disease vaccine industry size was USD 65 billion in 2023 and will depict 4.1% CAGR from 2024 to 2032, owing to the rising incidence of respiratory infections like influenza, COVID-19, and pneumococcal diseases.

The COVID-19 segment recorded 30.8% of the market share in 2023, attributed to the global demand for effective vaccines to combat the pandemic, government initiatives and substantial funding for mass vaccination campaigns.

North America respiratory disease vaccine industry size was USD 20.6 billion in 2023, driven by the advanced healthcare infrastructure, high vaccination coverage rates, strong government initiatives and funding for immunization programs.

Key firms operating in the respiratory disease vaccine industry are AstraZeneca, Emergent BioSolutions Inc., GSK plc., Johnson & Johnson Services, Inc., Merck & Co., Inc., Novavax, Pfizer Inc., Sanofi SA, Serum Institute of India Pvt. Ltd., and SINOVAC, among others.