Global Preventive Vaccine Market 2024–2033

Reports Description

Global Preventive Vaccine Market is anticipated to experience significant growth from 2023 to 2032, driven by factors such as increasing awareness about preventive healthcare, advancements in vaccine development technologies, and the rising prevalence of infectious diseases worldwide.

The market is expected to achieve a Compound Annual Growth Rate (CAGR) of approximately 2% during this period. In 2023, the market is estimated to be valued at USD 88.29 Billion, and it is projected to reach USD 94.75 Billion by 2032.

Preventive vaccines play a crucial role in controlling the spread of infectious diseases and preventing outbreaks.

The market’s growth is influenced by several factors, including:

• Global Immunization Initiatives: Ongoing global initiatives and vaccination programs, led by organizations such as the World Health Organization (WHO) and Gavi, the Vaccine Alliance, play a pivotal role in promoting vaccination and expanding access to preventive vaccines. These initiatives contribute to increased awareness and uptake of vaccines globally.

• Technological Advancements in Vaccine Development: Advances in vaccine development technologies, including recombinant DNA technology, mRNA-based vaccines, and vector-based vaccines, have led to the development of more effective and targeted preventive vaccines. Continuous innovation enhances the efficacy, safety, and scalability of vaccines.

• Rising Incidence of Infectious Diseases: The increasing prevalence of infectious diseases, such as influenza, hepatitis, polio, measles, and others, drives the demand for preventive vaccines. Vaccination is a cost-effective and efficient strategy for preventing and controlling infectious disease outbreaks.

• Expanding Pediatric Vaccination Programs: Growing emphasis on pediatric vaccination programs, both in developed and developing countries, fuels the demand for preventive vaccines. Governments and healthcare organizations focus on immunizing children against a range of diseases, leading to increased market opportunities.

• Government Support and Funding: Government support, funding, and incentives for vaccine development and vaccination programs contribute significantly to the growth of the preventive vaccine market. Public-private partnerships play a key role in facilitating vaccine research, production, and distribution.

• Increasing Adoption of Adult Vaccination: The expanding adoption of preventive vaccines among adults, especially for diseases such as influenza, pneumonia, and human papillomavirus (HPV), drives market growth. The awareness of the importance of adult vaccination in preventing infectious diseases is on the rise.

• Emerging Infectious Disease Threats: The emergence of new infectious disease threats, such as novel viruses or strains, highlights the need for rapid vaccine development and deployment. The market responds to the dynamic nature of infectious diseases, driving research and innovation in preventive vaccines.

• Global Health Security Concerns: Concerns related to global health security, including the potential for pandemics, create a heightened awareness of the importance of preventive vaccines. Governments and international organizations prioritize investments in vaccine development to enhance preparedness for public health emergencies.

• Increasing Healthcare Expenditure: The overall growth in healthcare expenditure, coupled with the prioritization of preventive healthcare measures, contributes to the expansion of the preventive vaccine market. Healthcare systems recognize the long-term cost-effectiveness of vaccination in preventing disease-related healthcare expenses.

• Population Growth and Urbanization: Population growth and urbanization trends contribute to the increased risk of infectious disease transmission. Preventive vaccines become essential tools in mitigating the impact of infectious diseases in densely populated urban areas, driving market demand.

• Improving Vaccine Access in Low-Income Countries: Efforts to improve vaccine access in low-income countries through initiatives like the COVAX facility contribute to market growth. The goal of achieving equitable access to preventive vaccines globally fosters collaboration among stakeholders.

Global Preventive Vaccine Market – Mergers and Acquisitions

Pfizer’s Acquisition of BioNTech (2020):

• Pfizer, a leading pharmaceutical company, acquired BioNTech, a biotechnology company specializing in mRNA vaccine technology.

• The acquisition aimed to strengthen Pfizer’s position in the vaccine market, particularly in the development and production of mRNA-based vaccines, as exemplified by the successful collaboration on the COVID-19 vaccine.

GlaxoSmithKline’s Partnership with Bharat Biotech (2021):

• GlaxoSmithKline (GSK) collaborated with Bharat Biotech, an Indian vaccine manufacturer, to develop and manufacture a novel malaria vaccine.

• The partnership focused on leveraging GSK’s vaccine adjuvant technology to enhance the effectiveness of Bharat Biotech’s malaria vaccine candidate, addressing a significant global health challenge.

Johnson & Johnson’s Acquisition of Novavax (2018):

• Johnson & Johnson acquired Novavax, a biotechnology company specializing in vaccine development.

• The acquisition aimed to strengthen Johnson & Johnson’s vaccine portfolio and enhance its capabilities in developing vaccines for respiratory infections, including respiratory syncytial virus (RSV) and influenza.

Sanofi’s Merger with CSL Limited’s Influenza Vaccines Business (2022):

• Sanofi, a global pharmaceutical company, merged with CSL Limited’s influenza vaccines business.

• The merger aimed to create a leading global influenza vaccines business, combining Sanofi’s expertise in vaccine development with CSL Limited’s manufacturing capabilities.

AstraZeneca’s Collaboration with Serum Institute of India (2019):

• AstraZeneca collaborated with Serum Institute of India, one of the world’s largest vaccine manufacturers.

• The collaboration focused on the development and production of the COVID-19 vaccine, with the Serum Institute of India playing a crucial role in manufacturing and distributing the vaccine globally.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Challenges Impacting the Preventive Vaccine Market:

• Vaccine Hesitancy and Misinformation:  Despite the proven efficacy of vaccines, vaccine hesitancy, fueled by misinformation and mistrust, poses a significant challenge. Public concerns about vaccine safety and efficacy can lead to reduced vaccination rates.

• Storage and Distribution Logistics: Some vaccines, especially those requiring cold chain storage, face challenges related to storage and distribution logistics. Maintaining the integrity of vaccines during transportation is essential, especially in remote or resource-limited areas.

• Research and Development Costs: The high costs associated with vaccine research and development can be a barrier for manufacturers. Balancing the need for innovation with cost-effectiveness is essential for sustainable vaccine development.

• Regulatory Approval and Compliance: Obtaining regulatory approvals for new vaccines and ensuring compliance with stringent regulatory standards are critical challenges. The regulatory landscape requires careful navigation to bring vaccines to market efficiently.

• Global Vaccine Supply Chain Vulnerabilities: The global vaccine supply chain is vulnerable to disruptions, as seen during the COVID-19 pandemic. Strengthening the resilience of the vaccine supply chain is essential for ensuring continuous access to preventive vaccines.

• Production Capacity Constraints: Meeting the global demand for preventive vaccines requires substantial production capacity. Increasing production capacity while maintaining quality standards is a complex challenge for vaccine manufacturers.

• Adaptation to Emerging Variants: The ongoing evolution of infectious disease variants, such as those of the influenza virus, requires continuous adaptation of preventive vaccines. Rapid response capabilities are essential to address emerging threats effectively.

• Vaccine Affordability and Accessibility: Ensuring the affordability and accessibility of vaccines, particularly in low-income countries, is a persistent challenge. Collaborative efforts are needed to address economic barriers to vaccine access.

• Ethical Considerations in Clinical Trials: Conducting ethical clinical trials for preventive vaccines involves navigating complex considerations, including informed consent, participant diversity, and transparency. Ethical standards must be upheld throughout the research and development process.

• Public Health Infrastructure: Strengthening public health infrastructure, including vaccination programs and surveillance systems, is crucial for the effective implementation of preventive vaccines. Investment in healthcare infrastructure is essential for achieving broader vaccine coverage.

• Post-Vaccination Monitoring and Surveillance: Monitoring the long-term safety and efficacy of preventive vaccines requires robust post-vaccination surveillance systems. Continuous monitoring helps detect and address any potential adverse events.

• Market Fragmentation and Competition: The preventive vaccine market features multiple players and diverse technologies, leading to market fragmentation. Increased competition necessitates differentiation and innovation among vaccine manufacturers.

Report Scope

Segmentation Analysis of the Preventive Vaccine Market:

Type:

• Inactivated Vaccines: Vaccines containing killed pathogens or inactivated toxins.

• Live Attenuated Vaccines: Vaccines with weakened live pathogens.

• Subunit, Conjugate Vaccines: Vaccines using fragments of pathogens or conjugated antigens.

• Others: Diverse vaccine types, including DNA vaccines and mRNA vaccines.

Disease Indication:

• Influenza: Vaccines targeting influenza viruses.

• Hepatitis: Vaccines preventing hepatitis infections.

• Polio: Vaccines for poliovirus prevention.

• Measles, Mumps, and Rubella (MMR): Combined vaccines for these diseases.

• Others: Vaccines for diseases such as diphtheria, tetanus, and pertussis.

Age Group:

• Pediatric Vaccines: Vaccines for children.

• Adult Vaccines: Vaccines for adults, including booster shots.

Preventive Vaccine Market – Regional Analysis:

North America

Market Dynamics:

• North America, led by the United States, is a prominent market for preventive vaccines with a well-established healthcare infrastructure.

• The region experiences a high awareness of preventive healthcare, driving vaccination programs and research initiatives.

Key Factors:

• Strong government support for vaccination programs.

• Research and development collaborations with leading pharmaceutical companies.

• Advanced healthcare systems and immunization awareness.

Market Outlook:

• The North American preventive vaccine market is expected to continue growing, driven by ongoing research and development, public health initiatives, and the introduction of new vaccines.

Europe

Market Dynamics:

• Europe, with countries like the United Kingdom and Germany, has a mature market for preventive vaccines.

• The region emphasizes vaccination as a key component of public health strategies, leading to high vaccination coverage.

Key Factors:

• Established regulatory frameworks for vaccine approvals.

• Public health campaigns promoting vaccination.

• Research collaborations and funding for vaccine development.

Market Outlook:

• The European preventive vaccine market is poised for steady growth, driven by sustained efforts in research, development, and immunization programs.

Asia-Pacific

Market Dynamics:

• Asia-Pacific, including China and India, represents a growing market for preventive vaccines due to increasing healthcare awareness.

• The region witnesses a rising focus on expanding vaccination coverage and addressing infectious disease challenges.

Key Factors:

• Expanding population and urbanization trends.

• Government initiatives to improve vaccination accessibility.

• Collaborations with global vaccine manufacturers.

Market Outlook:

• Asia-Pacific is expected to be a key growth region for preventive vaccines, driven by population health initiatives, increasing disease awareness, and strategic partnerships.

Latin America

Market Dynamics:

• Latin America is an emerging market for preventive vaccines, experiencing a growing demand for immunization against infectious diseases.

• The region focuses on strengthening vaccination programs and addressing healthcare disparities.

Key Factors:

• Government initiatives for vaccine inclusion in public health programs.

• Partnerships with international organizations for vaccine distribution.

• Increasing awareness of preventive healthcare measures.

Market Outlook:

• Latin America is expected to witness growth in preventive vaccine adoption, driven by ongoing efforts to enhance vaccination infrastructure and accessibility.

Middle East and Africa

Market Dynamics:

• The Middle East and Africa are witnessing increased interest in preventive vaccines, driven by healthcare infrastructure development and disease prevention initiatives.

• The market is influenced by efforts to combat infectious diseases and promote public health.

Key Factors:

• Investments in healthcare infrastructure and vaccination programs.

• Partnerships with global health organizations for vaccine access.

• Preventive measures against vaccine-preventable diseases.

Market Outlook:

• The Middle East and Africa are poised for gradual growth in the preventive vaccine market, with a focus on expanding vaccination coverage and addressing healthcare challenges.

List of the prominent players in the Preventive Vaccine Market:

• Pfizer Inc.
• GlaxoSmithKline plc
• Merck & Co. Inc.
• Sanofi
• Johnson & Johnson
• Novartis International AG
• CSL Limited
• Emergent BioSolutions Inc.
• AstraZeneca
• Bharat Biotech
• Moderna Inc.
• Serum Institute of India Pvt. Ltd.
• Sinovac Biotech Ltd.
• BioNTech SE
• Daiichi Sankyo Company Limited
• Others

The Preventive Vaccine Market is segmented as follows:

By Type

• Inactivated Vaccines
• Live Attenuated Vaccines
• Subunit
• Conjugate Vaccines
• Others

By Disease Indication

• Influenza
• Hepatitis
• Polio
• Measles
• Mumps, and Rubella (MMR)
• Others

By Age Group

• Pediatric Vaccines
• Adult Vaccines

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America