Inactivated Vaccines Market Size and Forecast 2024 to 2032
The global inactivated vaccines market size is projected to be worth around USD 75.79 Billion by 2032 from USD 44.67 Billion in 2023, at a CAGR of 6.05 % from 2024 to 2032. Inactivated vaccines, also called killed vaccines, include viruses or bacteria inactivated by heat, chemicals, or radiation. That means it is incapable of causing the disease itself; however, the pathogen has remained antigenically intact and may give full stimulation to a protective immune response. While live attenuated vaccines use the weakened forms of the pathogen, inactivated vaccines are considered even safer because they leave no chance for the disease to result in immunocompromised hosts. Several doses or booster shots will be required to achieve and maintain immunity from such vaccines since the immune response to the infection naturally is less effective than the live vaccine elicits. Inactivated vaccines are also commonly used to protect against polio, hepatitis A, and several types of influenza. These vaccines protect against infectious diseases and, at the same time, assure safety from the concerns associated with the use of live pathogens. The market for inactivated vaccines is a high-growth market due to the escalating prevalence of infectious diseases worldwide, and governments and other health organizations initiatives enhance vaccination programs to control outbreaks.
Inactivated Vaccines Market Key Highlights
- The subcutaneous segment is expected to hold a larger share of the inactivated vaccines market, attributed to its advantages in terms of ease of administration and patient comfort.
- The CAGR of the Asia Pacific Inactivated Vaccines market is expected to be the highest during the forecast period due to the rising population and increased prevalence of infectious diseases.
- The viral vaccine segment holds the leading share of inactivated vaccines because it protects against a wide range of basic viral infections, which are burdens on public health; hence, its production and technology are highly advanced, drawing more support from a regulatory point of view.
- The highest revenue was generated in the hospital segment of the end-users. This is due to routine vaccinations, including those for influenza, hepatitis, and other infectious diseases, that are quite commonly carried out in hospitals.
- North America dominated the inactivated vaccines market due to its advanced healthcare infrastructure, significant vaccination coverage, and considerable investments in research and development within the medical field.
Regional Overview
The Asia Pacific is expected to be the fastest-growing region in the global inactivated vaccines market during the forecast period owing to the rapidly growing population coupled with rapid urbanization, demanding a well-established healthcare delivery system, technical advances, and infrastructural development within the medical sector. Furthermore, increasing government spending to enhance immunization programs and raising awareness drives further influences regional market growth.
Inactivated Vaccines Market Drivers and Opportunities
- Increasing Prevalence of Infectious Diseases: Infectious diseases still rank among the most common causes of morbidity and mortality globally, with over 52 million or 33% of the world's total annual deaths. As per the World Health Organization, half of the world's population remains under continuous risk for emerging and re-emerging infectious diseases. Recent statistics show approximately 14 million deaths of children younger than 5 years old worldwide, of which 70% were due to vaccine-preventable diseases and 99% occurred in developing countries.
- Growing Awareness of Vaccination: Improving awareness about vaccination and preventive health in general for the population worldwide promotes greater vaccine acceptance. The EPI, launched by WHO in 1974, has greatly improved vaccination access. Since its establishment, the program has been expanded and currently encompasses vaccines for 12 major diseases, like measles, polio, and tuberculosis, by 2023.
- Government Vaccination Programs: Government initiatives and vaccination programs, particularly in developing countries, support using inactivated vaccines to control and prevent diseases. Many governments worldwide implement several vaccination programs for public health security and infectious disease control. Many countries have included vaccination programs to protect against cancer, infectious diseases, HIV, and HPV, including large-scale programs in countries like India, China, Brazil, the US, Europe, and Australia, among others.
Inactivated Vaccines Market Challenges and Restraints
- High Costs of Development and Production: Inactivated vaccines have high development and production costs because of the intense expenses involved in research and development, clinical trials, and manufacturing. Furthermore, inactivating the pathogen without impairment of its immunogenicity is a cumbersome and expensive process.
- Regulatory and Approval Barriers: Complicated regulations may delay the delivery of new vaccines to the market. Inactivated vaccines are subject to strict standards for safety and effectiveness, which often result in licensing delays, prolonged regulatory processes, and greater costs.
- Alternative Vaccines: Advances in other vaccine technologies, such as mRNA and viral vector vaccines, present competition to inactivated vaccines. These may promise advantages of easier production or higher efficacy in certain cases.
Global Inactivated Vaccines Market Share by Region (Representative Graph)
Competitive Overview
Prominent players covered in the inactivated vaccines market report are GSK plc, Novartis AG, Mylan N.V., Sanofi, Boehringer Ingelheim International GmbH., Merck & Co., Inc., F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company, Bharat Biotech, Serum Institute of India Pvt. Ltd, Valneva SE, Bavarian Nordic, Inovio Pharmaceuticals, Novavax, Daiichi Sankyo Company Limited, Mitsubishi Chemical Group Corporation. This is a tentative list and can be modified as per client requirements. This section of the report will cover detailed profiles of the above companies, their business strategy, financials, and SWOT analysis. The report also covers a dedicated chapter that includes the market share of companies that have inactivated vaccines and the latest developments with respect to mergers and acquisitions.
Recent Advancements
- Enhanced Efficacy: New adjuvants and formulation technologies are being developed to improve the efficacy of inactivated vaccines. For example, advancements in adjuvant systems aim to boost the immune response.
- Advancements in Vaccine Technology: Innovations and improvements in vaccine production technologies enhance the efficacy, safety, and availability of inactivated vaccines, driving market growth.
- Advancements in Vaccine Technology: New advancements and technological improvements in vaccine manufacturing technology further improve the efficacy, safety, and availability of inactivated vaccines, hence offering improved growth opportunities for the market.
- Enhanced Formulations: Research is focused on enhancing inactivated vaccines for diseases already present, like influenza, against problems such as strain variability and generally enhance vaccine effectiveness.
- Rotavirus and HPV: More recently, research has focused on ways to improve the efficacy and cost of inactivated vaccine technologies for rotavirus and human papillomavirus (HPV).
Latest Developments in the Inactivated Vaccines Market
- Sinovac and Bharat Biotech: Research has focused on the efficacy of booster doses of inactivated COVID-19 vaccines like Sinovac’s CoronaVac and Bharat Biotech’s Covaxin. Studies have shown that booster doses can enhance immunity and provide better protection against emerging virus variants.
- New Variants: Researchers have been working on updating inactivated COVID-19 vaccines to address new variants. For example, studies have explored the effectiveness of modified inactivated vaccines against variants like Omicron.
Global Inactivated Vaccines Market Report: Scope
Report Details
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Attributes
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Base Year
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2023
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Historic Year
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2020-2022
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Forecast Period
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2023-2032
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Market Value
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USD Billion
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Key Segments
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- By Vaccine Type
- Viral Vaccine
- Bacterial Vaccine
- By Method of Inactivation
- Solvent Detergent Method
- Radiation Method
- pH Concentration
- Others (Heat Inactivation, etc.)
- By Route of Administration
- Oral
- Subcutaneous
- Intravenous
- By End-user
- Hospitals
- Specialty Clinics
- Homecare Settings
- Others (Research Centers, etc.)
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Regional Coverage
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- North America (U.S., Canada, and Mexico)
- Europe (Germany, U.K. France Italy, Spain, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, South Korea, and Rest of Asia Pacific)
- South America (Brazil, Argentina, Chile, Rest of South America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East and Africa)
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Companies Profiled
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- GSK Plc
- Novartis AG
- Mylan N.V.
- Sanofi SA.
- Boehringer Ingelheim International GmbH
- Merck & Co Inc.
- F. Hoffmann-La Roche AG
- Bristol-Myers Squibb Company
- Bharat Biotech
- Serum Institute Of India
- Inovio Pharmaceuticals Inc.
*No Particular order has been followed while listing the company names.
*List of Companies to be Profiled in the report can be customized.
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Our report is presented in a comprehensive format, and the first section covers the market introduction, which includes the research scope, objectives, and methodology. It contains an executive summary that reflects key market highlights and a global market snapshot. The section on industry analysis covers market dynamics comprising drivers, restraints, opportunities, and trends coupled with Porter's Five Forces and market attractiveness assessment. We also provide an in-depth value chain analysis composed of raw materials, pricing trends, and marketing channels. The report contains a deep geographic analysis of market sales covering North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Furthermore, it categorizes the market-based competitive landscape with insights into market competition, partnerships, mergers, acquisitions, and new product launches. Company profiles give insight into key players, revenues, products, and recent developments.
Market Segmentation
This section of the Inactivated Vaccines market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Vaccine Type
- Viral Vaccine
- Bacterial Vaccine
By Method of Inactivation
- Solvent Detergent Method
- Radiation Method
- pH Concentration
- Others (Heat Inactivation, etc.)
By Route of Administration
- Oral
- Subcutaneous
- Intravenous
By End-user
- Hospitals
- Specialty Clinics
- Homecare Settings
- Others (Research Centers, etc.)
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.