Global Vaccines Market Forecast 2027
Vaccines Market by Indication (Influenza, Rotavirus, DTP Vaccines), Route of Administration (Intramuscular, Subcutaneous, Oral), Type/Antigen (Conjugate Vaccine, Live Attenuated Vaccine), Valence (Multivalent, Monovalent Vaccines) - Forecast to 2027
The Global Vaccines Market is expected to grow at a CAGR of 5.2% from 2019 to 2027 to reach $62.2 billion by 2027.
The growth in the global vaccines market is mainly attributed to high prevalence of various diseases, increasing government initiatives towards immunization, technological advancements in vaccine industry, and strong pipeline for vaccines. In addition, increasing epidemic potentials, growing focus on therapeutic vaccines, and emerging markets will further provide significant opportunities for the various stakeholders in this market. However, longer timelines and high cost for vaccines development are likely to hinder the market growth.
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On the basis of indication, the pneumococcal disease segment commanded the largest share of the overall vaccines market in 2019. The large share of this segment is mainly attributed to the factors such as rising incidence of pneumococcal diseases like pneumonia, meningitis, febrile bacteraemia, otitis media, and sinusitis; development of quality vaccines such as PPSV23; and various initiatives by the government organizations and private sectors to prevent and control outbreak of pneumococcal diseases.
On the basis of valence, multivalent vaccines segment accounted for the largest share of the overall vaccines market in 2019 and is poised to grow at a faster CAGR during the forecast period. New product launches and focus of key players on multivalent vaccine’ research & development are the major factors contributing to the largest share and fastest CAGR of multivalent vaccines market segment.
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Last Update : 19 February 2020
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|Item Owner : Vidhya Nigam|
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