Respiratory Disease Vaccine Global Market Report 2024

The global respiratory disease vaccine market has grown steadily in recent years. It will grow from $68.4 billion in 2023 to $69.99 billion in 2024 at a compound annual growth rate (CAGR) of 2.3%. The growth in the historic period can be attributed to rising prevalence of respiratory diseases, increased public vaccination awareness, public health initiatives, growing demand for effective and more tolerable vaccines.

The global respiratory disease vaccine market is expected to see steady growth in the next few years. It will grow to $76.18 billion in 2028 at a compound annual growth rate (CAGR) of 2.1%. The growth in the forecast period can be attributed to aging population, rising healthcare spending, investments in vaccine, pandemic preparedness. Major trends in the forecast period include innovative vaccines, collaborative research, advancement in vaccine development, drug approval.

The upward trajectory in tuberculosis cases is anticipated to serve as a driving force for the expansion of the respiratory disease vaccine market in the foreseeable future. Tuberculosis (TB) is a form of respiratory disease induced by the bacterium Mycobacterium tuberculosis, primarily afflicting the respiratory system, particularly the lungs, and posing potential threats to other organs and bodily functions, resulting in various complications. The increasing incidence of tuberculosis is likely to catalyze endeavors aimed at developing and disseminating respiratory disease vaccines. These vaccines are pivotal in mitigating the transmission of tuberculosis. As a case in point, data from the Global Tuberculosis Report, as published by the World Health Organization in October 2022, revealed a global tuberculosis (TB) incidence estimated at 10.6 million cases, with a rate of 134 cases per 100,000 population in 2021. This represented a 4.5% increase from the 10.1 million cases reported in 2020. Hence, the mounting incidence of tuberculosis is poised to be a driving factor in the respiratory disease vaccine market's growth.

The increasing prevalence of smoking is poised to be a driving factor in the prospective growth of the respiratory disease vaccine market. Smoking entails the inhalation and exhalation of smoke emanating from the combustion of tobacco or tobacco-containing products, posing a multitude of health hazards, including tracheitis, heart disease, stroke, and various forms of cancer. Respiratory disease vaccines play a crucial role in providing a measure of protection against specific infections for individuals who engage in smoking. For instance, data from Statistics Canada in July 2022 highlighted a 5.8% upsurge in cigarette production compared to June 2021. Additionally, the total volume of cigarettes sold increased by 1.3% from May 2022, reaching a total of 1.4 billion in June 2022. Consequently, the growing incidence of smoking is a driving force behind the expansion of the respiratory disease vaccine market.

The impediment of formulating efficacious vaccines against respiratory viruses serves as a notable constraint on the market's expansion. This challenge is rooted in the perpetually evolving nature of these viruses, necessitating continuous research and development endeavors to keep abreast of emerging strains. Consequently, this dynamic landscape heightens the complexity and cost associated with vaccine development while potentially delaying their accessibility to the general populace. For instance, a March 2023 publication from the National Library of Medicine, a U.S.-based medical library, underscores the challenges encountered in crafting effective respiratory vaccines. This is particularly evident in the case of emerging viruses such as the SARS-associated COVID-19 and avian influenza. These viruses are characterized by a high mutation rate and antigenic variability, amplifying the complexity of vaccine development. Hence, the obstacle of formulating effective vaccines for respiratory viruses represents a hindrance to the growth of the respiratory disease vaccine market.

Leading companies in the respiratory disease vaccine market are committed to the development of innovative products aimed at bolstering their effectiveness, providing advanced solutions for the prevention and treatment of respiratory infections. For instance, in May 2023, Pfizer Inc., a U.S.-based pharmaceutical company, secured approval from the Food and Drug Administration (FDA) for ABRYSVO (Respiratory Syncytial Virus Vaccine). This bivalent vaccine, featuring the respiratory syncytial virus prefusion F (RSVpreF) vaccine, is designed for the prevention of lower respiratory tract disease stemming from respiratory syncytial virus in individuals aged 60 years and above. ABRYSVO comprises unadjuvanted vaccine components, with two preF proteins meticulously tailored to optimize immunity against both RSV A and B strains. Clinical trials have demonstrated the vaccine's safety and efficacy.

In August 2022, GSK PLC, a biopharmaceutical company headquartered in the UK, completed the acquisition of Affinivax Inc. The financial details of the acquisition were not disclosed. This strategic move reaffirms GSK Plc's dedication to innovation in the realm of pharmaceuticals and vaccines, including its commitment to the development of a next-generation 24-valent pneumococcal vaccine candidate known as AFX3772. Affinivax Inc., a clinical-stage biotechnology company based in the United States, specializes in the development of vaccines and immunotherapies targeted at a range of diseases, with a particular focus on respiratory ailments.

Major players in the respiratory disease vaccine market are Pfizer Inc., Johnson & Johnson Ltd., Merck & Co. Inc., Sanofi SA, AstraZeneca PLC, GlaxoSmithKline PLC, Sinovac Biotech Co. Ltd., Moderna Inc., BioNTech SE, CSL Limited, Daiichi Sankyo Company Limited, Mitsubishi Tanabe Pharma Corporation, Novavax Inc., Emergent BioSolutions Inc., Seqirus, Bio Farma, Dynavax Technologies Corporation, Hualan Biological Bacterin Co. Ltd., Serum Institute of India Pvt. Ltd., Bavarian Nordic A/S, Valneva SE, Biological E. Limited, CanSino Biologics Inc., Bharat Biotech International Limited, Medicago Inc, CureVac N.V., Incepta Vaccine Ltd, Inovio Pharmaceuticals Inc., Ology Bioservices, VBI Vaccines Inc.

Asia-Pacific was the largest region in the respiratory disease vaccine market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in respiratory diseases vaccine report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the respiratory diseases vaccine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary classifications of respiratory disease vaccines encompass viral vaccines, bacterial vaccines, and combination vaccines. Viral vaccines consist of formulations containing weakened or inactivated viruses. They serve to stimulate immune responses and are instrumental in the prevention of respiratory diseases by instructing the immune system to recognize and mount defenses against distinct viruses. This, in turn, reduces the spread and severity of infections. These vaccines find application in combatting illnesses such as COVID-19, influenza, respiratory syncytial virus (RSV), pneumonia, among others, and are administered to individuals spanning various age groups, including infants, adolescents, and adults, within clinical, hospital, and other healthcare settings.

This report provides respiratory diseases vaccine market statistics, including respiratory diseases vaccine industry global market size, regional shares, competitors with a respiratory diseases vaccine market share, detailed respiratory diseases vaccine market segments, market trends and opportunities and any further data you may need to thrive in the respiratory diseases vaccine industry. This respiratory diseases vaccine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The respiratory diseases vaccine market consists of sales of the rotavirus vaccine, bordetella vaccine and varicella (chickenpox) vaccine. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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