The vaccine market is expected to be valued at USD 69.86 billion in 2027 from USD 41.68 billion in 2019, registering a CAGR of 7.1% through the forecast period, according to a recent report by Emergen Research. The adoption of vaccines has been boosted by a rise in the incidence of infectious diseases.
Globally, an increase in the prevalence of infectious diseases raises the burden of the disease on the nation and impacts its socio-economic growth. The progress in technology has resulted in the emergence of microbial drug-resistant strains that have affected the fight against infectious diseases such as pneumonia, cholera, malaria, and diarrhoea.
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Key Highlights From Report
- In October 2020, Sanofi and Translate Bio announced that a Phase 1/2 clinical trial is planned for the fourth quarter of 2020 for the coronavirus vaccine candidate. A favourable immune response profile against COVID-19 was demonstrated by the vaccine.
- A monovalent vaccine is intended for the immunisation of human microorganisms and antigens. To develop a good immune response, this type of vaccine is preferable. With a CAGR of 7.5% during the forecast period, the segment is expected to register considerable growth over the coming years.
- Toxoid vaccines are given both to adults and to children in order to protect them from tetanus. The toxoid is adsorbed by calcium or aluminium salts, which serve as adjuvants in order to boost the immune response. After this first series, this vaccine can usually be used as a booster vaccine.
- Flu shots are a needle-based flu vaccine. It is a seasonal flu shot that protects against the influenza virus type 3-4. It protects against a respiratory viral disease that spreads reasonably quickly. The flu can lead to severe health complications and even death.
- Due to the presence of key players investing in R&D activities, rising awareness, and subsequent demand for vaccines in the region, North America dominated the global vaccine market and is expected to gain substantial traction during the projection period.
- Key participants include Pfizer, Inc., CSL Limited, Merck & Co., Inc., AstraZeneca, Johnson & Johnson, Serum Institute of India Pvt., Ltd., GlaxoSmithKline PLC, Sanofi Pasteur SA, Emergent Biosolutions, Inc., and Biological E, among others.
