Vaccines Market Analysis

Vaccines Market Analysis

Vaccines market, by age group is segmented into pediatric and adult. The pediatric vaccines segment is projected to progress at 7.3% CAGR from 2022 to 2028. The segment growth is attributable to increasing immunization coverage of pediatric vaccines with various supportive programs across the developing nations. This population group is highly susceptible to various infectious diseases due to undeveloped immunity system.
 

Further, higher recommendation for some pediatric vaccines to avoid the risk of severe conditions in later stage will fuel the segment demand. According to the recent immunization statistics, the vaccination coverage of first dose of diphtheria, tetanus, and pertussis (DTP) in children was accounted 90% in 2018. Thus, the awareness regarding the importance of vaccination among parents that offers long-term immunity against various pathogens to children will drive the segment revenue.
 

The disease segment of vaccines market is classified into cancer, influenza, hepatitis, pneumococcal disease, human papilloma virus, DTP, meningococcal disease, polio, rotavirus, COVID-19 and others. Upsurge in the number of patients with COVID-19 infection will lead to the escalating demand for vaccines. The COVID-19 market dominated the vaccines industry with more than 60% revenue share in 2021. More than 13,000 million doses were delivered across the globe throughout the year with various channels and collaborative agreements. High mortality rate associated with the infection led to population preference for vaccination, thereby significantly influencing the vaccines demand during the period.
 

Further, compulsion of COVID-19 vaccination while travelling to other areas, visiting social places or international visits, by the government stimulated the vaccination rate, thereby escalating the revenue growth. Moreover, the need for booster doses to offer continued immunity against this life-threatening infection will lead to COVID-19 vaccines demand for next few years.
 

The market by technology is categorized into conjugate, live, inactivated, recombinant, toxoid, and others. Conjugate vaccines segment exceeded USD 18.5 billion in 2021 and is forecast to experience a significant revenue growth during the analysis timeframe. The segment growth is primarily attributed to advantages of conjugate vaccines including T cell-dependent immune response. The conjugate vaccines offer long lasting immunity, improved memory and immune response, protection to toddlers and infants along with heard immunity. Therefore, with enhancements in vaccine technologies, the segment is anticipated to witness robust growth in the upcoming period.
 

North America market held over 20% revenue share in 2021 and is projected to experience remarkable growth during the foreseeable future. Favourable government initiatives and expanding vaccination coverage will offer growth opportunities to the market. Furthermore, increasing awareness about preventable medicines, accessibility and presence of major market players will impel the regional market forecasts.
 

U.S. market dominated the North America vaccines industry in 2021 with significant demand for COVID-19 vaccines. Increase in number of patients with COVID-19 infection and related causalities has strengthened the growth potential of market players operating in the country. The government is also collaborating with these market players for the development, production, and supply of vaccines. For instance, the U.S. Government signed supply agreement with Moderna for mRNA covid-19 vaccine candidate. Thus, the exponential demand for COVID-19 vaccines and rapid development activities for speedy market entry will ultimately influence the regional market statistics in the foreseeable future.