Report ID :10233486 |
Published Date : 21 Oct 2022 |
Report Format : |
Delivery Timeline :48-72 Business Hours
The global vaccines & vaccination market is expected to grow at the CAGR of 10.5% during 2018-2028. The market has generated revenue of more than $ 467 million in 2018 and is projected to reach up to $ $769.4 million by 2028. Due to rising use of adjuvants in vaccine-preventable diseases, increasing government investments and initiatives, rising company investments in vaccine development and increasing initiatives by non-government organizations become the major drivers which help to increase the market of vaccines & vaccination globally. Due to increasing prevalence of diseases such as HIV/AIDS, cancer and allergy, there is an increase in the demand of adjuvants vaccine. According to American Academy of Allergy Asthma and Immunology (AAAAI), around 7.8 million children suffered from respiratory allergies worldwide. It is seen that more than 8% population is suffering from food allergy, globally, among which approximately 6% aged 0-2 years, 9% aged 3-5 years and nearly 8% aged 6-10 years, approximately 8% aged 11-13 years and more than 8.5% aged 14-18 years suffer from food allergy globally. The developing regions such as India, China has been on an uprising trend in terms of severity as well as prevalence of diseases. These allergic diseases contain asthma, rhinitis, anaphylaxis, drug, food and insect allergy and many more. Approx. 20% to 30 % of total population suffers from at least one of these allergic diseases in India among which 20% to 30% of the population suffers from allergic rhinitis and 15% have asthma.
On the basis of segmentation the market of vaccines & vaccination is segmented as technology, type, disease indication, and end user. On the basis of technology, the market of vaccines & vaccination is segmented as subunit vaccines, live attenuated vaccines, conjugate vaccines, inactivated vaccines, recombinant vector vaccines, toxoid vaccines, synthetic vaccines, dendritic cell vaccines. Based on types, the market is segmented into preventive vaccines and therapeutic vaccines. Similarly, based on end users the market is segmented as pediatrics and adults.
Geographically, the vaccines &vaccination market is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America has the largest market share of vaccines & vaccination followed by Europe and Asia Pacific. Due to governmental initiatives, and increasing focus of major players in the Indian vaccine technology market, and increasing immunization initiatives by organizations such as World Health Organization and GAVI helps to increase the market of Asia Pacific region.
Some of the major market players are Abbott Astrazeneca, Bavarian Nordic, Baxter, Bharat Biotech, Bio Med, CSL Limited, Emergent Biosolutions, Inc., Glaxosmithkline, PLC, Johnson & Johnson, Medimmune, LLC. (A Subsidiary Of Astrazeneca), Merck & Co., Inc. Acquisition, mergers and expansions are the key strategies adopted by the market players to sustain in the market. For example in 2018, Abbot diagnostic had acquired US based Topera Inc,. a venture backed with medical device company that focuses on electrophysiology technology for diagnosis and treatment of trial fibrillation.
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