Global Vaccine Market to Reach US$ 57 Billion by 2025, Fostered by Sudden Outbreak of COVID-19, By IMARC Group
According to the latest report by IMARC Group, titled “Vaccine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global vaccine market size reached US$ 37 Billion in 2019.
Sheridan, Dec. 09, 2020 (GLOBE NEWSWIRE) -- According to the latest report by IMARC Group, titled “*Vaccine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,*” the global vaccine market size reached US$ 37 Billion in 2019. A vaccine refers to a biological preparation made using the weakened form of the disease-causing microorganism. It is injected to stimulate the production of antibodies against several pathogens present in the body. Moreover, it helps to prevent life-threatening diseases, such as polio, measles, diphtheria, meningitis, influenza, tetanus, rotavirus and hepatitis. Consequently, vaccines are increasingly being utilized in hospitals, clinics and vaccination centers worldwide. They are also widely adopted for research and development (R&D) purposes in academic setups and clinical laboratories across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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*Global Vaccine Market Trends:*
One of the leading trends witnessed in the global vaccines market is the surging cases of the coronavirus disease (COVID-19), which has, till date, resulted in the loss of around half a million lives around the world. As a result, several pharmaceutical companies are currently engaged in extensive research and development (R&D) activities to introduce a novel vaccine against the disease. Apart from this, the World Health Organization (WHO) is undertaking the initiative of increasing awareness about immunization through the Global Vaccine Action Plan (GVAP) and Global Immunization Vision and Strategy (GIVS). Moreover, the high prevalence of infectious diseases and R&D activities pertaining to the immunization of several fatal diseases, such as Acquired Immunodeficiency Syndrome (AIDS), Ebola, Hepatitis C and paratyphoid fever, are also propelling the market growth. Furthermore, the growing government support for vaccine development and the increasing involvement of global organizations in the development of adequate vaccination facilities in endemic regions is anticipated to positively influencing the sales of vaccines in the upcoming years. Looking forward, the market value is projected to reach US$ 57 Billion by 2025, expanding at a CAGR of 7.40% during the forecast period (2020-2025).
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*Key Market Segmentation:*
The report has categorized the market based on region, technology, patient type, indication, administration, route of administration, product type, treatment type, end-user, and distribution channel.
*Breakup by Technology:*
· Conjugate Vaccines
· Inactivated and Subunit Vaccines
· Live Attenuated Vaccines
· Recombinant Vaccines
· Toxoid Vaccines
· Others
*Breakup by Patient Type:*· Paediatric
· Adult*Breakup by Indication:*· Bacterial Diseases Meningococcal Disease Pneumococcal Disease Diphtheria/Tetanus/Pertussis (DPT) Tuberculosis Haemophilus Influenzae (Hib) Typhoid Others
· Viral Diseases Hepatitis Influenza Human Papillomavirus (HPV) Measles/Mumps/Rubella (MMR) Rotavirus Herpes Zoster Varicella Japanese Encephalitis Rubella Polio Rabies Dengue Others*Breakup by Route of Administration:*
· Intramuscular and Subcutaneous Administration
· Oral Administration
· Others
*Breakup by Product Type:*
· Multivalent Vaccine
· Monovalent Vaccine
*Breakup by Treatment Type:*
· Preventive Vaccine
· Therapeutic Vaccine
*Breakup by End User:*
· Hospitals
· Clinics
· Vaccination Centres
· Academic and Research Institutes
· Others
*Breakup by Distribution Channel:*
· Hospital Pharmacies
· Retail Pharmacies
· Institutional Sales
· Others
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*Breakup by Region:*
· North America
· United States
· Canada· Asia Pacific
· China
· Japan
· India
· South Korea
· Australia
· Others
· Europe
· Germany
· France
· United Kingdom
· Italy
· Spain
· Russia
· Others
· Latin America
· Brazil
· Mexico
· Others
· Middle East and Africa
· Turkey
· GCC Countries
· Israel
· Others*Competitive Landscape *
The competitive landscape of the market has been examined, with some of the key players being Abbott Laboratories, Astellas Pharma Inc., AstraZeneca Plc, Bharat Biotech International Limited, Bavarian Nordic A/S, CSL Limited, Daiichi Sankyo Company, Limited, Emergent BioSolutions Inc., GlaxoSmithKline Plc, Inovio Pharmaceuticals Inc., Johnson & Johnson, Inc., 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.
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