Pune, July 16, 2020 (GLOBE NEWSWIRE) -- The global vaccines market size is expected to reach USD 104.87 billion by 2027, exhibiting a CAGR of 10.7% during the forecast period. The ongoing clinical trials for COVID-19 vaccine will have a tremendous impact on the global market during the forecast period, states Fortune Business Insights in a report, titled “Vaccines Market Size, Share & COVID-19 Impact Analysis, By Type (Recombinant/Conjugate/Subunit, Inactivated, Live Attenuated and Toxoid), By Route of Administration (Parenteral and Oral), By Disease Indication (Viral Diseases (Hepatitis, Influenza, Human Papillomavirus, Measles/Mumps/Rubella, Rotavirus, Herpes Zoster, and Others) and Bacterial Diseases (Meningococcal Disease, Pneumococcal Disease, Diphtheria/Tetanus/Pertussis, and Others)), By Age Group (Pediatric and Adults), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers and Others) and Region Forecast, 2020-2027” the market size stood at USD 46.88 billion in 2019.
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This market report sheds light on:
- Thorough analysis of all the parts
- Enlightening data and figures
- In-depth information about industry players
- Progressing developments in the industry
- COVID-19 impact on the market
Market Driver:
Strong Demand for Pocket-friendly Immunization to Boost Growth
The increasing supply of various products to cater to the need of patients will have a positive influence on the market. The surge in unmet needs along with the global aim to eradicate endemic diseases will encourage the development of vaccines. The united focus of pharmaceutical companies, government foundations, international organizations, and hospitals towards cost-effective vaccines and immunization therapies for people around the world.
The active government scrutiny for vaccines at a minimum cost or no cost for every individual will further incite market development in the forthcoming years. For instance, the pneumococcal conjugate vaccine was rolled out by the Universal Immunization Programme (UPI) to 21 lakh children in Himachal Pradesh and parts of Bihar in India. The increasing R&D investment by companies for novel products will further escalate market demand, which, in turn, will bode well for the market.
The whole world is battling with the newly originated virus. The authorities of several countries have initiated lockdown to prevent the spread of coronavirus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
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Market Restraint:
Low Adoption of Vaccines Amid COVID-19
The postponement of immunization campaigns and reduction in the vaccination rate during pandemic has produced major concerns. According to the GAVI, the ceasing of immunizations will result in a lack of vaccination for 13.5 million people from the least developed countries. The decline in pneumococcal vaccine supply will further limit market expansion during coronavirus pandemic.
The lower adoption of vaccines in lower- and middle-income nations will subsequently dampen the growth of the market. However, the potential pipeline drugs for coronavirus is expected to contribute enormously to the growth of the market. For Pfizer, Johnson and Johnson, and other players are running clinical trials for potential candidates, which will soon be released after regulatory approvals.
Regional Analysis:
Presence of Eminent Manufacturers to Influence Growth in North America
The market in North America generated a revenue of USD 24.88 billion in 2019 and is expected to remain dominant during the forecast period. The growth in the region is attributed to the presence of key manufacturers in the region. The increasing awareness regarding vaccination along with secure government policies for healthcare will further support expansion in the region.
Asia Pacific is expected to witness a rapid growth rate during the forecast period due to the increasing population in India and China. The growing demand for vaccines will have a positive effect on the market. Europe is expected to account for a significant share owing to the increasing demand for immunization. The prevalence of chronic diseases will spur opportunities for the market in the region.
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Key Development:
April 2019: World Health Organization (WHO) approved the world’s first malaria vaccine by the government of Malawi’s landmark pilot program launched in Africa.
List of the Leading Companies Profiled in the Vaccines Market Research Report are:
- GlaxoSmithKline plc. (Brentford, United Kingdom)
- Sanofi (Paris, France)
- Pfizer Inc. (New York, United States)
- Merck & Co., Inc. (New Jersey, United States)
- Novartis AG (Basel, Switzerland)
- Emergent BioSolutions, Inc. (Maryland, United States)
- CSL Limited (Melbourne, Australia)
- Inovio Pharmaceuticals, Inc. (Pennsylvania, United States)
- Bavarian Nordic (Denmark)
- Mitsubishi Tanabe Pharma Corporation (Osaka, Japan)
- 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 Launches, key players
- 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, 2016-2027
- 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
- Hepatitis
- Influenza
- Human Papillomavirus
- Measles/Mumps/Rubella
- Rotavirus
- Herpes Zoster
- Others
- Bacterial Diseases
- Meningococcal Disease
- Pneumococcal Disease
- Diphtheria/Tetanus/Pertussis
- Others
- Viral 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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