Pune, May 20, 2020 (GLOBE NEWSWIRE) -- The global vaccines market size is expected to reach USD 93.08 Billion by 2020, while exhibiting a promising CAGR of 10.7% between 2019 and 2026. This is ascribable to factors such as increasing prevalence of deadly infectious disease and increasing investment by companies to develop novel vaccines to counter the effects of disease. Fortune Business Insights, in its latest report, titled “Vaccines Market Size, Share & Industry Analysis, By Type (Recombinant/Conjugate/Subunit, Inactivated, Live Attenuated), By Route of Administration (Parenteral & Oral), By Disease Indication (Viral Diseases (Hepatitis, Influenza, Human Papillomavirus) and Bacterial Diseases (Meningococcal, Pneumococcal)), By Age Group (Pediatric & Adults), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers) & Region Forecast, 2019-2026.”, observes that market was worth USD 41.61 Billion in 2018.
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Vaccine is an important preventive measure to fight and contain any type of contagious disease. Every vaccine consists of a disease germ either a bacteria or a virus in small quantities. Additionally, vaccines help to build up the immune system of the humans that aid to protect the body against the harmful effects of the disease. A small quantity of virus or bacteria is taking into a vial and further weakened to stop their reproduction. Further, they are replicated to produce a vaccine that build up immunity against the disease. In 1796, Edward Jenner was the first person to invent a method to treat smallpox. With time, development of vaccines was routine across the globe to prevent fatalities among the population.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
To get the short-term and long-term impact of COVID-19 on this Market.
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What does the Market Report Offer?
The market report offers an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2019 and 2026. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.
Drivers and Restraints:
Increasing Global Focus on Developing COVID-19 Vaccine to Spur Demand
COVID-19 has brought the world to a complete standstill while claiming millions of lives. Additionally, the companies across the globe are focusing on developing an effective vaccine and enable its mass-production to contain deadly pandemic. The countries face a herculean task to not only develop the vaccine but also ensure totally immunity against the novel coronavirus for its citizen. An underlying competition among the countries to develop the novel vaccine is expected to drive the growth of the market in the coming years.
Furthermore, active attempts by the government to prepare completely for any type of future biological threats is anticipated to aid the market growth in the forthcoming years. For instance, in May 2020, Beijing Municipal Science and Technology Commission announced that 3 of its COVID-19 vaccines that had passed the phase 2 clinical trials have entered the phase 2 trials in China. Furthermore, Beijing is expected to accelerate its research and development process that involves an expansion of diagnosis of disease facilities along with a keen focus on manufacturing novel drugs, vaccines, and medical equipment to cater to the increasing demand.
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Segmentation:
Increasing Demand for Bacterial Vaccines to Bolster Growth
The segment Bacterial diseases (by type Disease Indication) is expected to remain at the forefront in the forthcoming years. This is attributable to factors such as high sales for meningitis, pneumococcal, and DTP vaccines globally that are first-line immunity boosters for newborn babies. On the other hand, the segment viral diseases is likely to foresee growth backed by increasing demand for influenza and HPV vaccines.
Regional Analysis:
High Vaccine Awareness among Population in North America to Stoke Demand
Among the regions, the market in North America was worth USD 22.03 Billion by 2018 and is likely to register high global vaccine market revenue during the forecast period. This is ascribable to factors such as large presence of manufacturers, robust government policy regarding the healthcare, and high awareness among the population for several vaccines. Furthermore, focused impetus by the government in the U.S. to produce vaccine and efficient disease surveillance will bode well for the market in the region. Asia-Pacific, on the other hand, will witness tremendous growth in the forthcoming years. This is attributable to factors such as increasing population and presence of key players in the region. Furthermore, the countries such as Japan in the region is likely to hold the largest market share owing to high research and development activities to produce novel vaccines between 2019 and 2026.
Competitive Landscape:
Rising Investment for Research and Development to Augur Growth
According to Fortune Business Insights, the market is highly organized that comprises of several companies striving to maintain market stronghold. They are doing so by adopting strategies such as collaboration, expansion of facility, and increasing investment in R&D. For instance, in May 2020, the government of the UK announced its plan to invest Euro 93 Million in developing a vaccine-manufacturing center. According to Alok Sharma, Business Secretary, the investment will propel the government to focus on R&D activities and further be equipped to manufacture vaccines by the count of millions.
Industry Development:
- September 2019: The government of Kenya announced its collaboration with Ghana and Malawi to develop the world’s first ever malaria vaccine. With malaria affecting over millions of people in Africa, the pilot program that went underway will assist in containing the disease.
List of the Key Companies Operating in the Vaccines Market are:
- GlaxoSmithKline plc.
- Sanofi
- Pfizer Inc.
- Merck & Co., Inc.
- Novartis AG
- Emergent BioSolutions, Inc.
- CSL Limited
- Inovio Pharmaceuticals, Inc.
- Bavarian Nordic
- Mitsubishi Tanabe Pharma Corporation.
- Other Prominent Players
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- New Product Launch
- Pipeline Analysis
- Technological Advancements in the Vaccines Market
- Prevalence of Disease Indications
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
- Global Vaccines Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Recombinant/Conjugate/Subunit
- Inactivated
- Live Attenuated
- Toxoid
- Market Analysis, Insights and Forecast – By Route of Administration
- Parenteral
- Oral
- Market Analysis, Insights and Forecast – By Disease Indication
- Viral Diseases
- Bacterial Diseases
- Market Analysis, Insights and Forecast – By Age Group
- Pediatric
- Adults
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital & Retail Pharmacies
- Government Suppliers
- Others
- Market Analysis, Insights and Forecast – By Geography
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
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