Limited coverage for vaccination coupled with prohibitive cost related to transportation and storage of vaccines will negatively impact the industry expansion to certain extent in the near future. Moreover, stringent government regulations for product approval will prolong the process of new product introduction in the market; thereby, restraining the vaccine market growth.
According to a new report published by Allied Market Research, titled Vaccine Market By Technology (Conjugate Vaccines, Inactivated Vaccines, Live Attenuated Vaccines, Toxoid Vaccines, Recombinant Vaccines, and Other Vaccines), Indication (Pneumococcal Disease, Influenza, Human Papilloma Virus, Meningococcal Disease, Rotavirus, Varicella, Diphtheria, Pertussis, & Tetanus {DPT}, Polio, Hepatitis, Measles, Mumps, & Rubella {MMR}, and Other Indications), and End Use (Pediatric Vaccines, Adult Vaccines, and Traveler Vaccines): Global Opportunity Analysis and Industry Forecast, 2020–2027. The global vaccine market size accounted for $32,462 million in 2019, and is expected to reach $54,150 million by 2027, registering a CAGR of 6.6% from 2020 to 2027.
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Most of the markets are dropping down, owing to the outbreak, including the vaccine market. The global vaccine market is negatively impacted by the pandemic as most countries adopted lockdown to combat the pandemic. In addition, most of the leading companies across the globe have slow down the manufacturing of other vaccines. Furthermore, the individual contributions companies are collaborating to accelerate the development, manufacture, and delivery of vaccines, diagnostics, and treatments for COVID-19.
Increase in investment toward development of new vaccines is expected to drive the global vaccines market in the coming years. For instance, researchers at Scripps Research Florida has been successful in developing a non-traditional vaccine to defeat SIVmac239 viral strain nicknamed as the “death star.” The non-traditional vaccine developed by the researchers provides durable protection to uninfected individuals from multiple forms of HIV stimulating the demand for the vaccine. In addition, rise in incidence of various infectious diseases and growth in awareness regarding early disease diagnosis and prevention drive the demand for protective vaccines; thereby, boosting the market growth.
The key players operating in the vaccine industry include Serum Institute of India Pvt. Ltd., Pfizer, Johnson & Johnson, AstraZenecea plc, GlaxoSmithKline plc, Sanofi Aventis, Merck & Co., Inc., Emergent BioSolutions Inc., and CSL Limited, Novavax, Inc.
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Key Findings Of The Study
- The study provides an in-depth analysis, current trends, and future estimations of the global vaccine market to elucidate the imminent investment pockets.
- Comprehensive analysis of factors that drive and restrict the vaccine market growth is provided.
- It provides an extensive analysis of key segments to understand the type of products and indications used globally.
- Extensive analyses of key segments of the industry help understand the types of products and technologies used across various geographies.
Key Market Segments
By Technology type
- Recombinant & Conjugate Vaccines
- Live Attenuated Vaccines
- Inactivated Vaccines
- Toxoid Vaccines
- Others
By Indication
- Pneumococcal Disease
- Influenza
- Human Papilloma Virus
- Meningococcal Disease
- Rotavirus
- Varicella, Measles, Mumps, & Rubella
- Diphtheria, Pertussis, & Tetanus {DPT}
- Polio
- Hepatitis
- Other Indications
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.