Rising prevalence of infectious diseases in the adult population is a prominent factor driving the market growth. Increasing investment in R&D by governmental bodies for the development of novel drugs and vaccine is further boosting the market growth. Also, rising awareness among the population regarding the advantages of vaccination is further pushing the market growth uphill. Favorable governmental support by arranging free campaign for vaccination is again fueling the market growth.
The latest report by Value Market Research expects the Global Adult Vaccine Market was valued at USD 15 billion in 2017 and is likely to reach USD 22.5 billion by 2024 with CAGR of 5%.
THERAPEUTIC VACCINES DOMINATED THE SEGMENT
In 2017, therapeutic vaccine led the segment and has accounted for X.X% of the total market share owing to its ability to induce an immune response and treat virus-infected cells is driving the market growth.
Influenza emerged as the leading disease
Influenza dominated the disease segment and has accounted for over 15% of the total market share. Rising cases of acute respiratory infection, asthma, pneumonia, sinus problems, and other illness majorly caused by influenza are majorly driving the market growth.
NORTH AMERICA DOMINATED THE REGIONAL MARKET
Geographically, North America led the market and has accounted for X.X% of the total market share. The North American market is majorly driven owing to improved research infrastructure coupled with increased expenditure on healthcare. Rising initiates by the government for promoting vaccination is further fueling the regional market growth.
KEY PLAYERS OF THE MARKET
AstraZeneca Plc., Bharat Biotech, CSL Limited, Dynavax Technologies Corporation, GlaxoSmithKline, ImmunoBiology Ltd., Johnson & Johnson, Medimmune, Merck and Co., Novartis, Pfizer, Sanofi Pasteur and Serum Institute of India are the key players of the Adult Vaccine market.
As per this study the Global Adult Vaccine Market was valued at USD 22 BN (by revenue) in 2021 and is anticipated to reach USD 37.21 BN by 2028 with a CAGR of 7.8%.
Vaccine refers to a biological preparation that includes inactive antigen used to create an immune response. Adult vaccines impart immunity in the adult population from various fatal infectious diseases. Vaccination in adults varies depending upon the age, lifestyle, and health condition of the individual. Adult vaccines are used to provide immunity against diphtheria, influenza, hepatitis A & B, human papillomavirus (HPV), mumps, measles, rubella And varicella {MMRV}, and other infectious diseases.
Market Dynamics
Rising prevalence of vaccine-preventable disease in adults leading to increased demand for novel vaccines is driving the market growth. Governmental initiates and free-campaign towards awareness of vaccines among the population is further fueling the market growth. Also, Governmental investment in R&D for the development of vaccines for fatal diseases is boosting the market growth. However, lack of skilled professional and side effects associated with the certain vaccine is expected to hinder the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of adult vaccine.
Market Segmentation
The broad adult vaccine market has been sub-grouped into type and disease. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Type
- Preventive Vaccine
- Therapeutic Vaccine
By Disease
- Influenza
- Meningococcal
- Cervical Cancer
- Zoster Shingles
- Pneumococcal
- Hepatitis, Measles, Mumps, Rubella And Varicella (MMRV)
- Diphtheria, Tetanus, Pertussis (DTP)
Regional Analysis
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for adult vaccine in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Adult Vaccine Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the adult vaccine market include AstraZeneca Plc., Bharat Biotech, CSL Limited, Dynavax Technologies Corporation, GlaxoSmithKline, ImmunoBiology Ltd., Johnson & Johnson, Medimmune, Merck and Co., Novartis, Pfizer, Sanofi Pasteur and Serum Institute of India. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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