Viral vector, nucleic acid-based vaccines, fast-growing Shingles, Varicella & IPV vaccines and combination vaccines key drivers of global vaccines market
PORTLAND, OREGON, UNITED STATES, September 24, 2021 /EINPresswire.com/ — The Global Vaccines Market is expected to clock US$ ~93.17 billion by 2031 owing to technological advancements such as viral vector and nucleic acid-based vaccines (DNA and mRNA vaccines), fast-growing Shingles, Varicella & IPV vaccines, rising birth rate, outbreak of several vaccine preventable diseases, rising adoption of combination vaccines, robust product pipeline of key players and growing government initiatives for immunization programmes.
Clairvoyance Research conducted an in-depth market analysis study of the global vaccines market. The study comprehensively analyzes the market from different perspectives and provides granular insights on hot revenue pockets, headwinds & tailwinds impacting the market, quantitative (market size & forecasts) and qualitative analysis from ‘Patient Type, Strain Type, Technology, Vaccine Type, Route of Administration and Region’ perspective, product pipeline, and competitive landscape.
Key Market Trends
The ongoing pandemic of COVID-19 has affected almost every country worldwide, and resulted in severe outcomes, across all these regions. Several organizations and prominent players are making collaborative efforts to provide vaccines to different countries and to help them address new challenges by guaranteeing the continuous & efficient supply of COVID-19 vaccines in priority areas. Incessantly rising number of people infected with COVID-19, favorable funding's & incentives from global governments and foundations for vaccine development and promising R&D landscape for COVID-19 vaccines are some of the pivotal factors which are expected to bolster its demand in the coming months/years. Currently, R&D landscape for COVID-19 vaccines includes 115 vaccine candidates. Global organizations/foundations such as WHO, CEPI, WHO, Bill and Melinda Gates Foundation are also increasingly providing incentives to vaccine manufacturers for large-scale production of SARS-CoV-2 vaccines. COVID-19 Vaccines Global Access (COVAX), a worldwide initiative aimed at equitable access to COVID-19 vaccines, co-led by CEPI, Gavi and WHO, alongside key delivery partner UNICEF has also played an instrumental role in driving the global COVID-19 vaccines market.
The global vaccines market has been analyzed from six different perspectives – Patient Type, Strain Type, Technology, Vaccine Type, Route of Administration and Region.
Key Takeaways – Vaccine Type Perspective
PCV, D&T-containing, HPV and influenza vaccines generate the highest market value while new vaccines such as Shingles, Varicella, IPV are expected to propel the market growth in the coming years. Technological advancements such as mRNA and vector vaccines, continously rising prevalence of infectious diseases, rising government focus on immunization programs and robust product pipeline are some of the key factors that are expected to drive the demand of vaccines globally.
Key Takeaways – Technology Perspective
Recombinant vaccines segment is expected to be the fastest growing segment in the market during the forecast period. The growth of the segment can be mainly attributed to development and launch of several recombinant vaccines.
Snapshot – Competitive Landscape
The vaccines market is marked by presence of prominent players such as Merck & Co., Sanofi, GlaxoSmithKline plc., Pfizer Inc., AstraZeneca, CSL Limited, Panacea Biotec Ltd., Serum Institute of India Pvt. Ltd., PT Bio Farma (Persero), Bavarian Nordic, among others. Other players operating in the market are Bharat Biotech, Emergent BioSolutions Inc., Johnson & Johnson Private Limited, Mitsubishi Tanabe Pharma Corporation, among others.
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Source: EIN Presswire