Vaccines Market and Covid-19
Vaccine is one of the man-made biological source to increase the immunity and prevents against several infectious diseases (bacterial or viral or others) before the disease caused to early infants or adults or old aged people. Vaccines have saved millions of lives from diseases like polio, influenza, measles, hepatitis, rotaviruses, DPT3 (Diphtheria, Pertussis, and Tetanus), etc. Few vaccines are required at regular intervals as boosters to maintain the immunity against the pathogens.
In last few months, the corona virus has impacted millions of lives across the world and more than 1.04 millions have lost their lives due to unavailability of medicines and vaccines. Currently, more than 190 vaccine candidates are working on corona virus vaccine out of which 10 vaccine candidates are in their phase-3 of the vaccine clinical trial process (human trials with large array of people with different age group, ethnicity, geography). As on 2nd Oct, 2020, WHO has released the updated draft landscape of of COVID-19 candidate vaccines, (click here to see the full details). Even the WHO is hoping to have the successful vaccine by the end of the year 2020 or early in 2021. As the covid-19 has caused the blockage of transportation for several months and financial distress among different group of mid-scale and small scale businesses, the successful corona virus vaccine will be a remarkable opportunity for vaccine manufacturers in the next few years until the world gets free of the corona virus.
The governments of many countries, WHO, and other associations & institutes are supporting in cause of manufacturing vaccines for covid19. Several governments such as Japan, Australia, etc. have also announced to provide the corona virus vaccine free of cost to their public once its available in future. They have entered into agreements with different vaccine candidates already to secure millions of doses in advance. However, the covid-19 has also caused slow down or halt of the vaccine supply & demand for other infectious diseases in 2020.
Vaccines are of different types including Live/Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, Conjugate vaccine, Toxoid Vaccines, Recombinant vector Vaccine, and DNA Vaccines. The increased growth in the vaccines market in last few years is due to focus on growing infectious diseases, innovative healthcare technology, increased funding from governments, institutes and international organizations & associations, and increasing awareness among the public. WHO has set Immunization Agenda 2030 with a global vision and strategies for vaccines and immunization for the period 2021-2030. Other organizations like UNICEF, NGOs, GAVI, Immunization Action Coalition (IAC), etc. are also supporting and promoting awareness to improve immunity and also supports to poor countries for vaccination programs against several diseases.
By region, North America accounts the largest market share in the vaccines market, however, Asia-pacific is fastest growing market because of the higher population growth, increasing income level, and increased awareness about multiple diseases and their effects. One of the factor which may restraint the market is the cost of the vaccine. In the last few years, the cost of many vaccine have increased however, government and humanitarian-aid type buyers supports in relatively low vaccine prices. The growth in research facilities, laboratories and different new technologies in healthcare industries have also supported in the continuous growth in the market. Japan accounts the highest market share in Asia-pacific region followed by China & India.
By disease indication type, bacterial disease types accounted the largest market for vaccines over viral diseases, however, market for vaccines of viral disease types are increasing at a faster growth rate. In bacterial disease types, pneumococcal disease type dominated the market followed by meningococcal and DPT3. In viral disease type, influenza, hepatitis, and HPV has significant growth rate, and is estimated to have CAGR of 8.34%, 7.36%, and 7.91% over the forecast period 2020-2025.
By age group, the pediatric vaccines market accounted the highest market share (>58% in 2019) than adults vaccines market because of the high birth rate and increased infants doses to prevent from several diseases.
The market is highly competitive in top players and also constant improving in R&D and technologies are supporting in approvals of new vaccines in the market. The novel vaccines are fully tested by authorities during the pre-clinical trials and three different phases of vaccine trials. Some of the key players in the market includes GlaxoSmithKline Plc (GSK), Novartis AG, Merck & Co., Inc., CSL Ltd, Johnson and Johnson, Sanofi Pasteur, Inc., Pfizer, Inc., AstraZeneca Plc, Abbott Laboratories, Inc., Serum Institute of India Pvt. Ltd., PT Bio Farma, Mitsubishi Tanabe Pharma Corporation, Daiichi Sankyo Company, Limited, Sinovac Biotech Ltd, Valneva SE, VBI Vaccines Inc., Emergent BioSolutions, etc. among others.
For full report, kindly reach us at firstname.lastname@example.org or email@example.com
Visit our Industry Reports section or Reach us for Customised Market Reports
Key Highlights of the Global Vaccines Market:
Segmented by Technology Type, Route of Administration, Disease Type, Age Group, Distribution Channel, and Geography
Base Year: 2019, Estimated Year: 2020, Forecast: 2021-25 (Y-o-Y)
Historical Years: 2014-2018
Market Share for 2019 & 2020 (est.) and Recent developments for Covid-19
Regions: 5 (NA, SA, EU, APAC, MEA)
Country: 18 Major Countries + Rest of Countries in Each Region
Company Profiles: 12+ Major Companies