The global vaccines market is estimated to grow at ~11% during the forecast period 2019-2026.
Vaccines are a type of biological preparation that help to get an active acquired immunity to an infectious disease.
Factors such as increasing prevalence of infectious diseases and rising spread of vaccination programs are the factors driving the market growth. According to the World Health Organization (WHO), in 2018, 86% of the infants worldwide received 3 doses of the DTP3 vaccine. Other factors that positively affect the market growth are growing number of research activities by market players to develop and introduce novel vaccines.
However, huge capital investments and longer timelines required for the development of vaccines is expected to negatively impact the market growth during the forecast period.
By region, the global vaccines market is segmented into the North America, Europe, Asia-Pacific, and LAMEA.
The North America lead the global market in 2019, owing to the increasing prevalence of infectious diseases and rising investment activities by government as well as non-government organizations for the development of vaccines. According to the Centers for Disease Control and Prevention (CDC), in 2017, the number of tuberculosis, salmonella, Lyme disease, and meningococcal disease were 9,105; 54,285; 42,743; and 353, respectively in the US. The vaccines market in Europe held the second largest market share in 2019 owing to a well-developed healthcare infrastructure and presence of leading market players such as GlaxoSmithKline, Sanofi, AstraZeneca, Valneva, Seqirus CSL Limited, Bavarian Nordic, and Grifols, among others.
Asia-Pacific is estimated to be the fastest growing region for the global vaccines market owing to increasing healthcare expenditure, government initiatives & vaccination programs and growing prevalence of various chronic diseases. The LAMEA region is experiencing a steady growth in the global vaccines market owing to the initiatives taken by the government to create awareness in the region. For instance, in April 2019, the WHO introduced the world’s first malaria vaccine developed by the landmark pilot programs of the Government of Malawi in Africa. Later on, in September 2019, Kenya joined Ghana and Malawi by launching the malaria vaccine and supporting its development to cater to the unmet need of malaria vaccine in Africa.
The report covers the following 20 leading market players. These players include Sanofi (France), GlaxoSmithKline (GSK) (UK), Merck & Co., Inc. (US), Pfizer Inc. (US), AstraZeneca (UK), Mitsubishi Tanabe Pharma (Japan), Emergent BioSolutions (US), Astellas Pharma Inc. (Japan), Valneva (France), Seqirus (CSL Limited) (UK), Bavarian Nordic (Denmark), Sinovac (China), Panacea Biotec (India), Dynavax Technologies Corporation (US), Bharat Biotech (India), Serum Institute of India (India), Biological E. Limited (India), Grifols (Spain), Hualan Biological Engineering Inc. (China), Gamma Vaccines Pty Ltd (Australia), and others. Currently, most of the companies are strategizing and investing on the development of COVID-19 vaccine. On the other hand, these above-mentioned companies are involved in product approvals, mergers, partnerships, and other activities, in order to gain major market share in the market.
For instance, in June 2019, Bharat Biotech signed a partnership agreement with Hilleman Labs in order to advance phase 3 developments of the cholera vaccine.
In May 2019, Sanofi received product approval from the US Food and Drugs Administration (FDA) for its dengue fever vaccine named Dengvaxia for launch in the US. With this, it expanded its vaccines product portfolio. The pipeline of these leading players is also quite elaborative. For instance, as of 2017, Sanofi had 13 vaccines, Johnson & Johnson Services Inc, had 14 vaccines, and GlaxoSmithKline had approximately 25 vaccines in development. This concludes that the market players have immense opportunities to grow in the market.
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