Australia Vaccines Market
The Australia vaccines market was valued at $0.6 billion in 2023 and is projected to reach $1.2 billion by 2033, growing at a CAGR of 7.2% from 2024 to 2033.A vaccine is a biological preparation injected into individuals to gain immunity against infectious, life-threatening diseases. It is composed of the whole or some components of viruses, bacteria, or toxins responsible for causing the disease. The working principle of vaccines involves triggering of immune response in the body, without causing the disease. The key elements of a vaccine include antigens, adjuvants, stabilizers, and preservatives. There are different types of vaccines, each with a different approach to stimulating the immune system. These include inactivated vaccines, subunit vaccines, live attenuated vaccines, toxoid vaccines, and DNA or mRNA vaccines.
Rise in initiatives such as the National Immunization Program by the government to provide free vaccines for a wide range of diseases is a key driver of the Australia vaccines market. In addition, increase in awareness among individuals regarding the importance of vaccination to prevent the outbreak of infectious diseases augments the development of the market. An ongoing development anticipated to become a prominent trend in the coming years is the formation of compound vaccines. These vaccines contain different antigens from bacteria, viruses, and other microorganisms, resulting in the development of one formulation that offers protection from multiple diseases.
However, the stringent regulatory standard regarding the development of new vaccines to ensure safety & efficacy results in delayed approvals and multiple clinical trials, which hampers the development of the market. Moreover, supply chain disruptions and distribution challenges in remote or rural areas limit the accessibility of vaccines, restraining the market development notably.
Contrarily, rise in government expenditure and increase in the establishment of agreements with different international suppliers to maintain a constant supply of vaccines are projected to present lucrative opportunities for the Australia vaccines market. For instance, the Department of Health and Aged Care of the Australian Government released an article stating that they have invested approximately $18 billion in Australia’s vaccine and COVID-19 treatment supply as part of the COVID-19 health response.
Segment Review
The Australia vaccines market is segmented into technology type, indication, and end user. On the basis of technology type, the market is divided into inactivated vaccines, toxoid vaccines, recombinant & conjugate vaccines, live attenuated vaccines, and others. Depending on indication, the market is categorized into pneumococcal disease; influenza; human papilloma virus; meningococcal disease; rotavirus; varicella; measles, mumps, & rubella; diphtheria, pertussis, & tetanus (DTP); polio; hepatitis; and other indications. As per end user, it is classified into pediatric, adults, and travelers.Key Findings
On the basis of technology type, the recombinant & conjugate vaccines segment was the highest shareholder in 2023.Depending on indication, the human papilloma virus segment held a notable share of the market in 2023.
As per end user, the pediatric segment dominated the market in 2023.
Competition Analysis
The leading players operating in the Australia vaccines market include Merck & Co., Inc., Sanofi, AstraZeneca, Pfizer, CSL, Emergent BioSolutions, Vaxine Pty Ltd., Biocelect, BioDiem, and GSK plc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.Additional benefits you will get with this purchase are:
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Key Market Segments
By Technology Type
- Inactivated Vaccines
- Toxoid Vaccines
- Recombinant and Conjugate Vaccines
- Live Attenuated Vaccines
- Others
By Indication
- Pneumococcal Disease
- Influenza
- Human Papilloma Virus
- Meningococcal Disease
- Rotavirus
- Varicella
- Measles, Mumps, and Rubella
- Diphtheria, Pertussis, and Tetanus (DTP)
- Polio
- Hepatitis
- Other Indications
By End User
- Pediatric
- Adults
- Travelers
Key Market Players
- Merck & Co., Inc.
- Sanofi
- AstraZeneca
- Pfizer
- CSL
- Emergent BioSolutions
- Vaxine Pty Ltd.
- Biocelect
- BioDiem
- GSK plc.
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Table of Contents
Companies Mentioned
- Merck & Co., Inc.
- Sanofi
- AstraZeneca
- Pfizer
- CSL
- Emergent BioSolutions
- Vaxine Pty Ltd.
- Biocelect
- BioDiem
- GSK plc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 90 |
Published | November 2024 |
Forecast Period | 2023 - 2033 |
Estimated Market Value ( USD | $ 0.6 billion |
Forecasted Market Value ( USD | $ 1.2 billion |
Compound Annual Growth Rate | 7.2% |
Regions Covered | Australia |
No. of Companies Mentioned | 10 |