Global Preventive Vaccine Market Size, Segmentation, Trends and Growth Analysis Forecast by 2030

Preventive Vaccines Market Overview and Analysis:

The Global Preventive Vaccines Market size is expected to grow from USD 88.26 billion in 2023 at a CAGR of 1.42% during the forecast period (2022-2030).

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Preventive vaccines are used to prevent infection with viruses, which cause serious diseases. The vaccine is made using a weakened form of the virus that cannot cause disease but causes the body’s immune system to make antibodies that destroy the virus. The growing prevalence of infectious diseases, innovative technology in vaccine development, increased funding from government and international organizations, and the increasing government focus on immunization programs are boosting the market's growth.

Preventive Vaccines Market Latest Trends:

Nucleic acid vaccines, mRNA vaccines, vector vaccines, and biomaterial-based vaccines are recent trends in the revolutionization of vaccines based on their potential to address issues of existing technology.

Segmentation:

The preventive vaccines market is segmented

By vaccine type

• live/attenuated vaccines
• inactivated vaccines
• subunit vaccines
• toxoid vaccines
• mRNA vaccines
• other

disease type

• pneumococcal
• poliovirus
• hepatitis
• influenza
• measles
• mumps
• rubella (MMR)
• COVID-19
• other

Geography

• North America
• Europe
• Asia-Pacific
• Middle East
• Africa
• South America)

. The report offers the value (in USD million) for the above segments.

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Drivers:

RISING PREVALENCE OF INFECTIOUS DISEASES

Infectious diseases presents one of the most significant health and security issues across the world. Vaccines boost the immune system by developing immunity against disease-causing pathogens. Vaccines prevent the person from many fatal diseases. It also reduces the risk of infection transmission from one person to another. For instance, data published by the World Health Organization (WHO) in the Global Tuberculosis Report 2021, most of the tuberculosis cases were found in the World Health Organization (WHO) regions of South-East Asia (43%), Africa (25%) and Western Pacific (18%), and lesser numbers of tuberculosis cases were found in Eastern Mediterranean (8.3%), the Americas (3.0%) and Europe (2.3%). Thus, the rising prevalence of various infectious diseases is expected to boost the growth of preventive vaccines over the forecast period.

INNOVATIVE TECHNOLOGY IN VACCINE DEVELOPMENT

A significant portion of the global burden of diseases could be treated by vaccines, thereby reducing morbidity, mortality, and economic toll. Recent technological innovations are expected to help overcome technical challenges, such as improving safety, efficiency, antigen-sparing long shelf-life, effectiveness, and stronger immunity. Thus, the increasingly innovative technologies for the development of a vaccine is further expected to boost the growth of the market. Rapid advancements in vaccine technology have been fueled by the introduction of genetic engineering, vaccine-delivering technology, and proteomics. Currently, it is resulting in the entry of new products. For instance, in 2022, a virus is implanted into mammalian cells or chicken eggs, followed by incubation, virus inactivation, and finally vaccine production by Pfizer. Viruses implanted in chicken eggs may also develop chicken-specific surface proteins. When the vaccines derived from these viruses are injected into humans, humans will create antibodies that have a more chicken-specific protein than human-specific one, affecting the efficacy of the vaccine. Thereby, the innovation of virus implantation on the chicken egg proved to be an innovative technology that is expected to boost the growth of the market.

Restraints:

HIGH COST OF VACCINE DEVELOPMENT

There is an increase in the demand for different types of vaccines, and they are expected to enter the market in the near future. However, the R&D of vaccines is a tiring process, and it requires a long period, along with substantial capital investments. For instance, the study published in May 2021 titled “Process-cost modeling for producing 100 million COVID-19 mRNA vaccine doses per year at injectable medicines manufacturing sites ”, the estimated total cost needed for starting up mRNA vaccine manufacturing in such facilities and producing 100 million doses is USD 127.1 million for the BNT162b2 vaccine and USD 270 million for the mRNA-1273 vaccine. This estimate includes facility-related requirements, consumables, equipment, materials, labor, other resources for drug substance production, and fill and finish requirements.

COVID-19 Impact On Preventive Vaccine Market

COVID-19 had a significant impact on the vaccination market as due to lockdown restrictions and diversion of resources for the management of COVID-19, the vaccination campaigns for other diseases such as measles, polio, and tetanus were severely impacted which led to a decline in the number of vaccinations. However, with the development and approval of vaccines against COVID-19, full-fledged vaccination drives started all over the world, giving a significant boost to the market for some years. For instance, As per an article published by the Centers for Disease Control and Prevention (CDC), in November 2020 titled “COVID-19’s Impact on Measles Vaccination Coverage”,  as COVID-19 continued to spread globally, over 117 million children in 37 countries missed out on receiving life-saving measles vaccines. Measles immunization campaigns in 24 countries were already delayed, and more were postponed. Thus, COVID-19 had an adverse effect on the preventive vaccine market during the pandemic. Therefore, due to the COVID-19 pandemic, the vaccination campaigns for other indications were severely impacted during the initial period and with the growing number of approved COVID-19 vaccines, the demand and consumption of vaccines grew significantly which had an overall positive impact on the market.

Segmental Analysis:

Live Attenuated vaccines is Expected to Witness Significant growth Over the Forecast Period

Live/attenuated vaccines contain a weakened version of the living germ, making them ineffective in causing diseases. The live attenuated vaccines produce a similar, yet weakened response, compared to that of natural infections. After administration of live/attenuated vaccine, the immune system generates strong cellular and antibody responses that often confer lifelong immunity against a germ and disease caused by it, with only one or two doses of vaccine. The ongoing research studies, technological advancement in vaccine development technology, and new investments in the area by the companies and other stakeholders are expected to boost market growth over the forecast period. For instance, in November 2022, Codagenix Inc. received Fast Track designation from the United States Food and Drug Administration to CodaVax-RSV, an intranasal, live-attenuated vaccine candidate, for the prevention of respiratory syncytial virus (RSV).

The Pneumococcal Disease Segment is Expected to Witness Significant growth Over the Forecast Period

Infection caused by the pneumococcus bacteria, also known as Streptococcus pneumoniae, is referred to as pneumococcal disease. Ear infections, sinus infections, pneumonia, and bloodstream infections are all possible outcomes of pneumococcal infections, and these outcomes can be prevented through vaccines. Pneumococcal diseases are highly prevalent in children, but are not limited to them only as these diseases are also found in adults and older people. Hence, vaccination is required against pneumococcal diseases which is expected to boost the segment’s growth. The universal immunization programs by respective governments across the world coupled with the high burden of pneumococcal diseases are expected to be the major driving factors for the studied segment over the forecast period. For instance, as per the March 2022 update of the National Foundation for Infectious Diseases (NFID), about 150,000 people are hospitalized every year in the United States due to pneumococcal pneumonia, with a death rate of about 5%-7% and a death rate was even higher in people 65 years of age and more with some underlying condition but these hospitalizations and death can be significantly reduced by proper vaccinations and hence, high burden of these diseases is expected to boost segment’s growth over the forecast period.

North America Region is Expected to Witness Significant growth Over the Forecast Period

The market for preventive vaccines is expected to grow over the forecast period in the studied region owing to factors such as the rising prevalence of infectious diseases, rising demand for vaccines, emerging technological advancements in developing vaccines, the presence of well-established healthcare infrastructure along with high healthcare spending in the country. In addition, the increasing government focus on organizing immunization programs as well as growing funding from government and international organizations to accelerate the development of preventive vaccines in the country is also expected to boost the market growth.

Moreover, the rising geriatric population in the country is more prone to developing the flu and flu-related complications including pneumococcal disease. This is anticipated to increase the demand for preventive vaccines to reduce the risk of infections and hospitalizations, hence propelling the market growth. For instance, according to the 2022 statistics published by the United Nations Population Fund, about 17% of the population living in the United States is aged 65 years and above in 2022.

Also, in January 2021, the Department of Health and Human Services funded more than USD 22 million to states, localities, and territories in support of the nation’s response to the COVID-19 pandemic in which more than USD 19 million funds used to support testing, contract tracing, surveillance, containment, and mitigation to monitor and suppress the spread of COVID-19 in the United States including District of Columbia and five major cities in the United States.

Therefore, the above-mentioned factors are expected to contribute to the growth of the market in this region.

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Competitive Landscape:

The preventive vaccines market is fragmented and competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the key players in the market are:

• AstraZeneca PLC
• Emergent BioSolutions Inc.
• Daiichi Sankyo Co. Ltd
• GSK PLC
• Johnson & Johnson
• Merck & Co.
• Novavax Inc.
• Pfizer Inc.
• Sanofi SA,
• Takeda Pharmaceutical Co. Ltd
• Others.

Recent Developments:

1) August 2022: AstraZeneca's Evusheld (tixagevimab and cilgavimab, formerly AZD7442), a long-acting antibody combination, was approved in Japan for both prevention (pre-exposure prophylaxis) and treatment of symptomatic disease caused by SARS-CoV-2 infection.

2) June 2022: The United Kingdom Medicines and Healthcare Products Regulatory Agency (MHRA) granted marketing authorization for the VBI Vaccines' PreHevbri (Hepatitis B vaccine (recombinant, adsorbed)) for active immunization against infection caused by all known subtypes of the hepatitis B virus (HBV) in adults. The vaccine is expected to be launched in 2023 in the United Kingdom.

Frequently Asked Questions (FAQ) :

Q1. How big is the Preventive Vaccine Market ?

Q2. What is the current Preventive Vaccines Market size ?

Q3. Which Region is expected to hold the highest Market share ?

Q4. What segments are covered in the Preventive Vaccines Market Report?