According to the report, global demand for vaccine market is expected to reach above USD 59.2 billion in 2020 and is anticipated to grow at a CAGR of slightly above 11.0% till 2020.
A vaccine is the preparation of antigens, injected or given orally to trigger the production of antibodies against the particular antigen or the diseases causing agent. The antigen can be half killed, subunit or dead microbe. Vaccination is done to increase immunity for the specific microorganism. Therefore vaccine is called as the preventive measure against the disease. Antigen or the disease-causing agent stimulates the immune system to identify the hazard, kill and memorize it for the later encounter.
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Vaccine market is chiefly driven by the increasing prevalence of infectious diseases such as Ebola, swine flu, tuberculosis, diphtheria, influenza, and polio among others. Also, the invention of different types of vaccines in the market has the positive impact on the growth of vaccine market. Awareness generated among people to go for vaccination for the prevention of disease and promotion activities from the government for vaccines is supporting the growth of the market. Yet, strict laws, high investment in R&D for new vaccine and huge maintenance for the transportation, handling, and storage hamper market growth. Funding from different institutes, organization and from the government for R&D and production of vaccine may generate the opportunities for the vaccine market in the near future.
The global vaccine market is segmented on basis of technology, type, end users, indications, and regions. Inactivated, subunit, conjugate, live attenuated, toxoid, dendritic cell and synthetic are the technological segments of the vaccine market.
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Live attenuated was the leading segment among the technologies followed by inactivated and conjugate vaccines. Preventive and therapeutic are the two types of vaccine. Preventive vaccine type is dominating segment due to raising awareness among people to prevent the different diseases.
End users are mostly infants and the early aged group who get the vaccine in the earlier days to avoid the infections and rarely post aged group. Indication segments include allergy, infectious diseases, and tumors among others. Infectious disease emerged as leading segment due to growing number of infectious and contagious disease worldwide.
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North America is likely to be the fastest growing region, owing to rising government support for R&D of vaccines, increasing company investments for vaccine research, and large prevalence of several diseases in this region. The vaccine market is segmented into Europe, Asia Pacific, Latin America, and the Middle East & Africa, the further divergence of the region on the country level, which includes U.S., Germany, UK, France, China, Japan, and India.
Some of the prominent participants in vaccine market include Pfizer, CSL Limited, GlaxoSmithKline, plc, MedImmune LLC, Novartis AG, Sanofi Pasteur, Merck and Company, Johnson and Johnson and Emergent BioSolutions Inc.