Vaccines Market Size and Forecasts, Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type, Technology, Application, Route of Administration, Age, End User, and Geography

The vaccines market is expected to grow from US$ 135.28 billion in 2022 to US$ 216.30 billion by 2030; it is expected to grow at a CAGR of 6.0% from 2022 to 2030. Rising prevalence of infectious diseases and an increase for uptake of vaccines amid the COVID-19 pandemic are a few factors driving the vaccines market growth.

A vaccine is a biological preparation that provides active acquired immunity to a particular infectious or malignant disease. A vaccine typically preparation contains an agent responsible for resembling a disease-causing microorganism and is often made from a weakened or killed form of the microbe, toxin, or one of its surface proteins. Vaccines can be prophylactic or therapeutic, offering immunity.

Market Opportunity

Therapeutic Vaccine Development
Traditional vaccines stimulate the production of antibodies and immune proteins that target specific pathogens like viruses and bacteria. Likewise, therapeutic vaccines stimulate the immune system to target cancer cells and control the progression of chronic infections like HIV. Further, therapeutic vaccines typically stimulate the recipient's immune system to slow or stop chronic disease progression or target cancer cells. Further, therapeutic vaccines for the treatment of noninfectious diseases encompass a wide variety of possible formulations, antigens, and mechanism of action. Therefore, therapeutic vaccines development will provide lucrative market opportunity for the forecast period 2022-2030.

Type-Based Insights

Based on type, the vaccines market is segmented as live attenuated vaccines, inactivated vaccines, toxoid vaccines, subunit & conjugate vaccines, and others. The live attenuated vaccines segment held the largest market share in 2022. Live attenuated vaccines are very effective vaccines used in the prevention of a variety of diseases, including influenza, chickenpox, measles, polio, and tuberculosis. As per the World Health Organization (WHO) report, there are around a billion cases of seasonal influenza, including 5 million cases of severe illness. Also, it causes around 290,000 to 650,000 respiratory deaths annually. Therefore, live-attenuated influenza vaccine (LAIV) proves advantageous to combat the infection among the population. For example, LAIV can provide upto 90% protection among adults under 65 years of age and upto 40% of adults over 65. The aforementioned factors are responsible for influential segment growth for the forecast period 2022-2030.

Based on application, the vaccines market is segregated into Human Papillomavirus (HPV), cancer, MMR, DPT, and others. The HPV segment held the largest market share in 2022. According to the WHO report, HPV is highly prevalent among women in Sub-Saharan Africa (24%), followed by Latin America and the Caribbean (16%), Eastern Europe (14%), and South-East Asia (14%). Also, 625,600 women and 694,000 men have HPV-related cancer annually globally. Also, in 2020, cervical cancer accounted for 93% of HPV-related cancers among women. Therefore, there is a high demand for HPV vaccines among the population due to rising prevalent cases, as these vaccines protect against genital warts and most cases of cervical cancer. Also, HPV vaccines are highly approved by the US Food and Drug Administration (USFDA). GARDASIL 9 is one such example of an HPV vaccine approved by the US FDA. The aforementioned factors are responsible for influential segment growth for the forecast period 2022-2030.

Route of Administration-Based Insights

In terms of route of administration, the vaccines market is categorized as oral, nasal, and injectable. The injectable segment held a larger share of the market in 2022. The most common route of vaccine administration is through the injectable route, as administering a vaccine through a subcutaneous or intradermal route may cause local irritation, skin discoloration, inflammation, and many more.

Further, the CDC report reveals that DTaP, DT, HepA, HepB, Hib, HPV, IIV4, RIV4, ccIIV4, IPV*†, MenACWY, MenB, MMR‡ , PCV13, PPSV23*†, RZV, Td, Tdap, TT, VAR† are common vaccines administered through the injectable route of administration. Varied vaccines administered through injectable routes act as a standalone factor responsible for influential segment growth for the forecast period 2022-2030.