Northbrook, IL -- (SBWire) -- 02/07/2022 --According to the new market research report "Vaccines Market by Technology (Recombinant, Toxoid, Conjugate, RNA), Type (Monovalent, Multivalent), Disease (Pneumococcal, Influenza, DTP, HPV, MMR, COVID-19), Route of Administration (IM, SC, Oral), End user (Pediatric, Adult) - Global Forecast to 2026", published by MarketsandMarkets™, the global Vaccines Market (including COVID-19 vaccines) is projected to reach USD 149.2 billion by 2026 from USD 139.4 billion in 2021 during the forecast period. The global vaccines market (excluding COVID-19 vaccines) is projected to reach USD 67.2 billion by 2026 from USD 41.4 billion in 2021, at a CAGR of 10.2% from 2021 to 2026.
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254 – Tables
46 – Figures
302 – Pages
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The market growth is largely driven by the rise of emerging and re-emerging infectious diseases, increasing company initiatives to enhance vaccine R&D, growing government support for vaccine development, and the rising focus on immunization. However, the huge capital investments required for developing vaccines and low purchasing power in developing countries may restrain the market growth.
Conjugate vaccines segment accounted for the largest share of the technology segment (excluding COVID 19 vaccines)
Based on technology, the vaccines market (excluding COVID 19 vaccines) has been segmented into conjugate vaccines, recombinant vaccines, inactivated & subunit vaccines, live attenuated vaccines, toxoid vaccines, and viral vector vaccines. The conjugate vaccines segment accounted for the largest share of the global market (excluding COVID-19 vaccines), by technology, in 2020. The large share of this segment can be attributed to the increasing government support and rising company investments in conjugate vaccine development.
The Pneumococcal disease segment accounted for the largest share in 2020
Based on disease indication, the vaccines market is segmented into pneumococcal disease, influenza, combination vaccines, HPV, meningococcal disease, herpes zoster, rotavirus, MMR, varicella, hepatitis, DTP, polio, COVID-19, and other disease indications. The pneumococcal disease segment accounted for the largest share of the market, by disease indication, in 2020. The large share of this segment is attributed to the high incidence of pneumococcal disease and increasing government investments in pneumococcal vaccination programs.
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Monovalent vaccines segment accounted for the largest share of the type segment
Based on type, the global vaccines market is segmented into monovalent and multivalent vaccines. The monovalent vaccines segment accounted for the largest share of the global market (excluding COVID-19 vaccines) in 2020. Growing disease prevalence has prompted initiatives for immunization against specific infectious diseases such as COVID 19. This has led to large market share for monovalent vaccines. Rising prevalence of emerging and re-emerging infectious diseases and R&D initiatives will contrive to drive the market for monovalent vaccines.
Pediatric vaccines segment accounted for the largest share of the end user segment
Based on end user, the global vaccines market is segmented into pediatric and adult users. In 2020, the pediatric users segment accounted for the largest share of the market (excluding COVID 19 vaccines), while the adult user segment is estimated to register the highest CAGR during the forecast period. Increased initiatives from government and non-government organizations and increasing company initiatives to develop advanced pediatric vaccines for preventing diseases are expected to drive market growth for pediatric vaccines.
Intramuscular & Subcutaneous route of administration segment accounted for the largest share of the route of administration segment
Based on the route of administration, the vaccines market is segmented into intramuscular and subcutaneous administration, oral administration, and other routes of administration. In 2020, the intramuscular and subcutaneous administration segment accounted for the largest share of the market (excluding COVID-19 vaccines). Intramuscular & Subcutaneous is one of the most prevalent route of administration for vaccines due to its precise control of dose and administration rate, rapid exposure to antigen, and ease of administration.
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Based on the region, the vaccines market is broadly segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. A growing number of drug and vaccine manufacturers are outsourcing large parts of R&D mostly to clinical/contract research and manufacturing organizations with the aim to reduce costs. The Asia Pacific has become the hub for global outsourced research and manufacturing organizations. Additionally, the increasing disposable income in emerging Asian countries is positively impacting the growth of the market.
Key players operating in the global vaccines market include GlaxoSmithKline Plc (UK), Merck & Co., Inc. (US), Sanofi SA (France), and Pfizer, Inc. (US).
Vaccines Market Worth $149.2 Billion by 2026 - Exclusive Report by MarketsandMarkets™
Asia Pacific: The fastest-growing region in the vaccines market.