Preventive Vaccines Market, By Vaccine Type (Live/Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, Toxoid Vaccines, and Others), By Disease Type (Pneumococcal, Poliovirus, Hepatitis, Influenza, Measles, Rubella, and Others), By Distribution Channel (Public and Private), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Apr 2024

Code : CMI5342

Pages :173

Formats :

Excel and PDF

Industry : Pharmaceutical

Preventive Vaccines Market Size and Trends

The global preventive vaccines market is estimated to be valued at USD 50.41 Bn in 2024 and is expected to reach USD 96.35 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.7% from 2024 to 2031.

Preventive Vaccines Market Key Factors

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The global preventive vaccines market growth is primarily driven by factors such as the increasing incidence of infectious diseases, rising demand for vaccination especially among children and senior citizens, growth in the biotechnology and pharmaceutical industries, and technological advancements in the vaccine composition and delivery. The preventive vaccines market trend involves vaccines for diseases such as influenza, meningococcal, rotavirus infection, DTP (diphtheria, tetanus, pertussis), MMR (measles, mumps and rubella), polio, and others. Increasing awareness regarding vaccination and preventive healthcare is expected to boost the demand for preventive vaccines. Moreover, the rising prevalence of tuberculosis and different types of cancers as well as the presence of promising pipelines are likely to offer new growth opportunities for players in this market.

Market Driver – Increasing Research and Development Activities by Key Market Players

Researchers and pharmaceutical companies such as GPN Vaccines Ltd, Merck & Co., Inc., Sanofi, etc. are focused on targeting diseases with no existing vaccine for various age groups to meet the needs of affected people in developing countries. This will help the companies sustain in their vaccine business for long-term, which is expected to drive the global preventive vaccines market growth over the forecast period. For instance, on August 7, 2023, GPN Vaccines Ltd, a biotechnology company, announced that the Phase I clinical trial of Gamma-PN has been fully recruited. The Phase I clinical trial is assessing the safety, tolerability, and immunogenicity of Gamma-PN, a novel broad-spectrum pneumococcal vaccine. 117 healthy volunteers aged 50-69 have been recruited, with the final cohort of 39 participants having received at least one dose of the Gamma-PN vaccine or a placebo or a licensed pneumococcal vaccine currently used in Australia.

/p>Market Driver – Global Accessibility of Vaccines

Another major driver is the improving global availability and accessibility of vaccines in recent years. International health organizations and pharmaceutical firms have played a big role in this through vaccination initiatives targeted at developing world populations. Schemes like GAVI, the Vaccine Alliance have facilitated widespread vaccine delivery in poorer nations by subsidizing costs for national programs. They have negotiated reduced prices with manufacturers on behalf of 64 developing country members. As a result, the prices of routine vaccines has declined steeply, making immunization drives increasingly within financial reach. The vaccines themselves have also undergone innovations that have enabled easier deployment worldwide. Various types of vaccines have been formulated which no longer require constant refrigeration during the storage and transportation to remote areas with limited infrastructure. This includes vaccines using thermostable packaging or novel delivery methods like cold-chain free patches and powder-based injections.