Chicago, June 17, 2022 (GLOBE NEWSWIRE) -- According to the new market research report "Vaccines Market by Technology (Recombinant, Toxoid, Conjugate, RNA), Type (Monovalent, Multivalent), Disease (Pneumococcal, Influenza, DTP, HPV, MMR, COVID-19), Route of Administration (IM, SC, Oral), End user (Pediatric, Adult) - Global Forecast to 2026", the global vaccines market (including COVID-19 vaccines) is projected to reach USD 149.2 billion by 2026 from USD 139.4 billion in 2021 during the forecast period. The global vaccines market (excluding COVID-19 vaccines) is projected to reach USD 67.2 billion by 2026 from USD 41.4 billion in 2021, at a CAGR of 10.2% from 2021 to 2026.

Browse in-depth TOC on "Vaccines Market"
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The increase in the emerging and re-emerging infectious diseases, increasing efforts by companies for vaccine research and development, growing government support for vaccine development, and the rising focus on immunization are the factors driving the growth of this market. However, the factors restraining this market are huge capital investments required for developing vaccines and low purchasing power in developing countries.

Based on technology, the vaccines market (excluding COVID 19 vaccines) has been segmented into conjugate vaccines, recombinant vaccines, inactivated & subunit vaccines, live attenuated vaccines, toxoid vaccines, and viral vector vaccines. The conjugate vaccines segment accounted for the largest share of the global vaccines market (excluding COVID-19 vaccines), by technology, in 2020as a result of the increasing government support and rising company investments in conjugate vaccine development.

Based on disease indication, the vaccines market is segmented into pneumococcal disease, influenza, combination vaccines, HPV, meningococcal disease, herpes zoster, rotavirus, MMR, varicella, hepatitis, DTP, polio, COVID-19, and other disease indications. The pneumococcal disease segment accounted for the largest share of the vaccines market, by disease indication, in 2020. The large share of this segment is attributed to the high incidence of pneumococcal disease and increasing government investments in pneumococcal vaccination programs.

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Based on type, the global vaccines market is segmented into monovalent and multivalent vaccines. The monovalent vaccines segment accounted for the largest share of the global vaccines market (excluding COVID-19 vaccines) in 2020as a result of growing disease prevalence. This has prompted initiatives for immunization against specific infectious diseases such as COVID 19. This has led to large market share for monovalent vaccines.The market for monovalent vaccines is driven by rising prevalence of emerging and re-emerging infectious diseases and R&D initiatives.

Based on end user, the global vaccines market is segmented into pediatric and adult users. In 2020, the pediatric users segment accounted for the largest share of the vaccines market (excluding COVID 19 vaccines), while the adult user segment is estimated to register the highest CAGR during the forecast period. The factors boosting the market growth are increasing efforts of government and non-government organizations as well as companies for developing advanced pediatric vaccines for disease prevention.

Based on the route of administration, the vaccines market is segmented into intramuscular and subcutaneous administration, oral administration, and other routes of administration. In 2020, the intramuscular and subcutaneous administration segment accounted for the largest share of the vaccines market (excluding COVID-19 vaccines) as intramuscular and subcutaneous administration offers precise control of dose and rate of administration, it is one of the most prevalent route of administration for vaccines. Besides, rapid exposure to antigen, and ease of administration also the advantages of intramuscular and subcutaneous administration.

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Geographical Growth Scenario:

The vaccines market is broadly segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. A growing number of drug and vaccine manufacturers are outsourcing large parts of R&D mostly to clinical/contract research and manufacturing organizations with the aim to reduce costs. The Asia Pacific has become the hub for global outsourced research and manufacturing organizations. Additionally, the increasing disposable income in emerging Asian countries is positively impacting the growth of the vaccines market.

Key players operating in the global vaccines market include:

• GlaxoSmithKline Plc (UK),
• Merck & Co., Inc. (US),
• Sanofi SA (France), and
• Pfizer, Inc. (US).
  

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