Pune, Aug. 19, 2020 (GLOBE NEWSWIRE) -- The 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.

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.

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The other highlights of the report include:

• Targeted analysis of the impact of COVID-19 on the market;
• Detailed study of the factors, trends, and constraints shaping the market;
• Careful evaluation of the regional dynamics influencing the market; and
• Thorough profiling and examination of the key market players and their strategies.

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.  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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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.

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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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.

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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.

List of the Companies Operating in the Market:

• 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

Vaccines Market Segmentation:

By Type

•              Recombinant/Conjugate/Subunit

•              Inactivated

•              Live Attenuated

•              Toxoid

By Route of Administration

•              Parenteral

•              Oral

By Disease Indication

•              Viral Diseases

o              Hepatitis

o              Influenza

o              Human Papillomavirus

o              Measles/Mumps/Rubella

o              Rotavirus

o              Herpes Zoster

o              Others

•              Bacterial Diseases

o              Meningococcal Disease

o              Pneumococcal Disease

o              Diphtheria/Tetanus/Pertussis

o              Others

By Age Group

•              Pediatric

•              Adults

By Distribution Channel

•              Hospital & Retail Pharmacies

•              Government Suppliers

•              Others

By Geography

•              North America (U.S. and Canada)

•              Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

•              Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

•              Latin America (Brazil, Mexico, and Rest of Latin America)

•              Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

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