Global Vaccine Market to Reach US$ 124.5 Billion by 2032, Impelled by Expanding Prevalence of Infectious Diseases

According to the latest report by IMARC Group, titled “­­Vaccine Market Report by Technology (Conjugate Vaccines, Inactivated and Subunit Vaccines, Live Attenuated Vaccines, Recombinant Vaccines, Toxoid Vaccines, and Others), Patient Type (Pediatric, Adult), Indication (Bacterial Diseases, Viral Diseases), Route of Administration (Intramuscular and Subcutaneous Administration, Oral Administration, and Others), Product Type (Multivalent Vaccine, Monovalent Vaccine), Treatment Type (Preventive Vaccine, Therapeutic Vaccine), End User (Hospitals, Clinics, Vaccination Centers, Academic and Research Institutes, and Others), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Institutional Sales, and Others), and Region 2024-2032,” the global vaccine market size reached US$ 54.6 Billion in 2023. Vaccines are biological components that provide immunity against infectious diseases by stimulating the body's immune system to recognize and fight specific pathogens. They typically contain a weakened or dormant form of the disease-causing pathogen or a piece of its genetic material, such as a protein or antigen, that triggers an immune response without causing illness. When a vaccine is administered, the body's immune system recognizes the foreign pathogen or antigen. It then triggers an immune response that includes the production of antibodies, which protects against future infections by identifying and neutralizing the specific pathogen. Vaccines help prevent numerous life-threatening diseases, such as measles, polio, meningitis, diphtheria, influenza, tetanus, hepatitis, and rotavirus. 

Global Vaccine Market Trends:

The widespread prevalence of several infectious diseases and rising consumer awareness about the importance of effective immunization to combat these diseases is primarily driving the global vaccine market growth. Besides this, the largescale demand for pediatric vaccines due to the surging rate of child mortality caused by various infectious diseases, such as polio, measles, rubella, and hepatitis, is presenting remunerative growth opportunities for the market. Moreover, the introduction of vaccination programs and facilities by various governments and international organizations, including the World Health Organization (WHO) and the United Nations International Children's Emergency Fund (UNICEF), are aiding in market expansion. In addition to this, leading pharmaceutical companies are investing extensively in developing new and improved vaccines and fast-tracking various clinical trials of pipeline drugs, which, in turn, is creating a positive outlook for the market. Concurrent with this, the increasing number of research and development (R&D) activities focused on immunization against deadly diseases, such as AIDS, Ebola, Hepatitis C, and paratyphoid fever, are contributing to the market growth. Furthermore, the expanding adoption of preventive healthcare, the escalating acceptance of combination vaccines, rising healthcare expenditure, and significant technological advancements in vaccine manufacturing processes are impelling the market growth. Looking forward, the market value is projected to reach US$ 124.5 Billion by 2032, expanding at a CAGR of 9.6% during 2024-2032. 

Market Summary:

• On the basis of technology, the market has been segregated into conjugate, inactivated and subunit, live attenuated, recombinant, toxoid, and others.
• Based on the patient type, the market is bifurcated into paediatric and adult.
• On the basis of the indication, the market has been divided into bacterial diseases (meningococcal disease, pneumococcal disease, diphtheria/tetanus/pertussis (DPT), tuberculosis, haemophilus influenzae (Hib), typhoid, and others) and viral diseases (hepatitis, influenza, human papillomavirus (HPV), measles/mumps/rubella (MMR), rotavirus, herpes zoster, varicella, Japanese encephalitis, rubella, polio, rabies, dengue, and others).
• Based on application, the market is categorized into intramuscular and subcutaneous administration, oral administration, and others.
• By the route of administration, the market has been classified into intramuscular and subcutaneous, oral, and other administrations.
• On the basis of the product type, the market has been differentiated into multivalent and monovalent vaccines.
• Based on the treatment type, the market is bifurcated into preventive and therapeutic vaccines.
• On the basis of the end user, the market has been classified into hospitals, clinics, vaccination centres, academic and research institutes, and others.
• Based on the distribution channel, the market is grouped into hospital pharmacies, retail pharmacies, institutional sales, and others.
• On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa (Turkey, GCC Countries, Israel, and others).
• The competitive landscape of the market has also been examined, with some of the key players being Abbott Laboratories, Astellas Pharma Inc., AstraZeneca Plc, Bharat Biotech International, Bavarian Nordic A/S, CSL Limited, Daiichi Sankyo Company Limited, Emergent BioSolutions Inc., GlaxoSmithKline Plc, Inovio Pharmaceuticals Inc., Johnson & Johnson, Merck & Co. Inc., Mitsubishi Tanabe Pharma Corporation (Mitsubishi Chemical Holdings Corporation), Novavax Inc., Panacea Biotec Ltd., Pfizer Inc., Sanofi Pasteur SA (Sanofi SA), Serum Institute of India Pvt. Ltd. and Takeda Pharmaceutical Company Limited.

Report Coverage:

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