Pune, Oct. 21, 2020 (GLOBE NEWSWIRE) -- The global vaccines market size is expected to reach USD 104.87 billion by 2027, exhibiting a CAGR of 10.7% during the forecast period. The ongoing clinical trials for COVID-19 vaccine will have a tremendous impact on the global market.
KEY INDUSTRY DEVELOPMENTS:
- September 2019: Kenya joined Ghana and Malawi by launching the world’s first malaria vaccines. The malaria vaccines pilot program is fully underway as malaria affects millions of people in Africa.
- April 2019: World Health Organization (WHO) welcomed the world’s first malaria vaccine by the government of Malawi’s landmark pilot program which was launched in Africa.
- May 2019: Sanofi Pasteur received USFDA green signal for its dengue fever DENGVAXIA for launch in the U.S.
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This market report sheds light on:
- Thorough analysis of all the parts
- Enlightening data and figures
- In-depth information about industry players
- Progressing developments in the industry
- COVID-19 impact on the market
The whole world is battling with the newly originated virus. The authorities of several countries have initiated lockdown to prevent the spread of coronavirus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
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Strong Demand for Pocket-friendly Immunization to Boost Growth
The increasing supply of various products to cater to the need of patients will have a positive influence on the market. The surge in unmet needs along with the global aim to eradicate endemic diseases will encourage the development of vaccines. The united focus of pharmaceutical companies, government foundations, international organizations, and hospitals towards cost-effective vaccines and immunization therapies for people around the world.
The active government scrutiny for vaccines at a minimum cost or no cost for every individual will further incite market development in the forthcoming years. For instance, the pneumococcal conjugate vaccine was rolled out by the Universal Immunization Programme (UPI) to 21 lakh children in Himachal Pradesh and parts of Bihar in India. The increasing R&D investment by companies for novel products will further escalate market demand, which, in turn, will bode well for the market.
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Low Adoption of Vaccines Amid COVID-19
The postponement of immunization campaigns and reduction in the vaccination rate during pandemic has produced major concerns. According to the GAVI, the ceasing of immunizations will result in a lack of vaccination for 13.5 million people from the least developed countries. The decline in pneumococcal vaccine supply will further limit market expansion during coronavirus pandemic.
The lower adoption of vaccines in lower- and middle-income nations will subsequently dampen the growth of the market. However, the potential pipeline drugs for coronavirus is expected to contribute enormously to the growth of the market. For Pfizer, Johnson and Johnson, and other players are running clinical trials for potential candidates, which will soon be released after regulatory approvals.
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Presence of Eminent Manufacturers to Influence Growth in North America
The market in North America generated a revenue of USD 24.88 billion in 2019 and is expected to remain dominant during the forecast period. The growth in the region is attributed to the presence of key manufacturers in the region. The increasing awareness regarding vaccination along with secure government policies for healthcare will further support expansion in the region.
Asia Pacific is expected to witness a rapid growth rate during the forecast period due to the increasing population in India and China. The growing demand for vaccines will have a positive effect on the market. Europe is expected to account for a significant share owing to the increasing demand for immunization. The prevalence of chronic diseases will spur opportunities for the market in the region.
The Report Lists the Main Companies in the Vaccines Market:
- GlaxoSmithKline plc. (Brentford, United Kingdom)
- Sanofi (Paris, France)
- Pfizer Inc. (New York, United States)
- Merck & Co., Inc. (New Jersey, United States)
- Novartis AG (Basel, Switzerland)
- Emergent BioSolutions, Inc. (Maryland, United States)
- CSL Limited (Melbourne, Australia)
- Inovio Pharmaceuticals, Inc. (Pennsylvania, United States)
- Bavarian Nordic (Denmark)
- Mitsubishi Tanabe Pharma Corporation (Osaka, Japan)
- Other Prominent Players
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Global Vaccines Market Segmentations:
By Type
• Recombinant/Conjugate/Subunit
• Inactivated
• Live Attenuated
• Toxoid
By Route of Administration
• Parenteral
• Oral
By Age Group
• Pediatric
• Adults
By Distribution Channel
• Hospital & Retail Pharmacies
• Government Suppliers
• Others
By Geography
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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SECONDARY DATA SOURCES THAT WE REFER TO:
- Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
- Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.
- Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics
- Industry journals and paid databases
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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