ADULT VACCINES MARKET ANALYSIS

Adult Vaccines Market Size and Trends

Global adult vaccines market is estimated to be valued at USD 18.10 Bn in 2024 and is expected to reach USD 31.80 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.

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Growing prevalence of diseases like influenza, COVID-19, pneumococcal disease, and others across the globe can boost demand for adult vaccines.  Factors like rising healthcare awareness, increasing focus on immunization programs by governments and non-profit organizations can also drive the market growth. Ongoing pipeline developments and new product launches can drive the market growth. Several pharmaceutical players are investing heavily in research and development activities to develop novel adult vaccines for diseases lacking vaccination. However, low awareness levels in developing nations and high costs associated with vaccine development can hamper the market growth.

Increasing prevalence of adult diseases

Increasing prevalence of adult diseases across the globe is can drive the global adult vaccines market growth. As people are living longer due to improved healthcare facilities and lifestyle changes, these people are more prone to develop age-related diseases. Unlike childhood diseases that can often be prevented through routine vaccination programs, adults require repeated booster doses of vaccines to stay protected against diseases like pneumonia, shingles, hepatitis, and influenza that risk increasing with age. Various reports from health organizations like the World Health Organization (WHO) and Centers for Disease Control and Prevention (CDC) show high incidence and mortality rates of adult vaccine-preventable diseases even in developed regions. For instance, according to the data published by CDC, influenza and its complications resulted in over 75,000 hospitalizations and over 5,000 deaths during the 2019-2020 in the U.S. According to the data published by WHO, Streptococcus pneumoniae remains one of the top ten causes of death in older adults and is responsible for an estimated 500,000 deaths yearly. Furthermore, as per data from United Nations, by 2030, one in six people in the world will be over 65 years. This demographic shift coupled with the increasing prevalence of non-communicable diseases puts adults at an elevated risk of not just infectious but chronic diseases as well. For instance, in September 2023, in 2022, according to the Centers for Disease Control and Prevention, 22 states in the U.S. have adult obesity rates at or above 35%, increase from 19 states in 2021. This trend underscores the pressing need for population-wide interventions, including access to healthy foods, safe environments for physical activity, and stigma-free obesity prevention and treatment programs. The data also reveal disparities across racial and ethnic groups, emphasizing the importance of targeted health equity initiatives. Addressing obesity is crucial for reducing the risk of chronic diseases and improving overall public health outcomes nationwide.

Lifestyle Changes

Changes in lifestyle and work-life balance can lead to increased risks of exposure to various communicable diseases among adults. More people are living in urban areas and traveling internationally for work or leisure on a regular basis. This has made the rapid global spread of infectious outbreaks much easier. At the same time, modern lifestyles with longer working hours and more hectic schedules leave less time for rest and self-care. Thus, even commonplace viruses like influenza can pose a serious health threat. Stressed immune systems make vaccination a sensible precaution. Activities like multiple sexual relationships increases the chances of contracting vaccine-preventable diseases like hepatitis. Growing awareness that maintaining strong immunity through vaccination plays an important supporting role to other preventive healthcare practices in allowing adults to lead active lifestyles with fewer illness-related disruptions.