Vaccines Market

Vaccines Market

Global Industry Analysis (2017 - 2020) - Growth Trends and Market Forecast (2021 - 2025)

Published Date: Feb 2021 | Format: | No. of Pages: 170

Industry: Pharmaceuticals & Biotechnology | Author Name: Amol

Years of Consolidation Allows Global Vaccines Market to Attain Healthy Revenue Growth

The global vaccines market is set to exhibit robust revenue growth during the forecast years of 2020 and 2025. Vaccine manufacturers are expected to enjoy unbridled profitability as the world remains gripped in a pandemic. The market is poised to benefit from highly regulated environment as it acts as an insurmountable barrier to entry.

Fairfield Market Research indicates that the vaccines market revenue is anticipated to rise at healthy pace of 10.2% CAGR during the period of 2020-2025. It will reach US$54,684.8 Mn by 2025 from US$33,572.5 Mn in 2020. In the same period, the vaccines market is expected to witness a 6.5% CAGR in terms of volume. Towards the end of 2025, the market will have reached 7,675.1 Mn doses from 5,595.4 Mn doses in 2020.

Fairfield

New Indications and New Vaccine Developments to Improve Profit Margins

Market growth is supported by leading players focusing on development of new molecular entities for wider disease indication spectrum. For instance, Pfizer has six new vaccines in advanced product development phases (phase 2 and phase 3), while GSK has four novel products in the phase 2 of development. Typically, new innovative vaccines come with higher pricing and offer incremental revenue opportunities, which is expected to give the players an advantage in the coming years.

Similarly, the high-margin products such as combination vaccines are expected to generate a new avenue for growth in the coming years. Combination vaccines draw premium pricing by enhancing as they offer multi-pronged action and higher efficiency, which a single injection lacks. These vaccines are helping to overcome market challenges such as fear of needles or trypanophobia, which has been the key driving factor for adoption in the paediatrics segment

COVID-19 Outbreak Causes a Temporary Revenue Spike and Long-lasting Systemic Transformations

COVID-19 is expected to disrupt the market in terms of highly uncertain and temporary revenues. However, Fairfield Market Research predicts that it can have a long-term impact on vaccination and healthcare systems. The very first vaccines for COVID-19 to complete phase III testing are an entirely new type of mRNA vaccines. Never before have had mRNA vaccines - such as the two-dose Pfizer/BioNTech and Moderna vaccines – received emergency use authorization from the FDA.

The COVID-19 vaccine race has given a boost to biotech companies such as BioNtech and Moderna. GSK, Merck, Pfizer, and Sanofi have already announced partnerships with biotech companies Curevac, Moderna, BioNTech, and Translate Bio, respectively, for mRNA vaccines. The Serum Institute of India (SII) and UNICEF have entered into a long-term supply pact for COVID-19 vaccines developed by AstraZeneca/Oxford and the Novavax. This will facilitate the market access of 1.1 billion doses of vaccines for around 100 countries under COVAX.

The COVID-19 vaccine mass distribution poses one of the biggest logistical challenge of vaccine cold chain. This vaccine will demand storage with much lower temperature requirements than other disease vaccines. For instance, Pfizer vaccine requires freezer storage at -70° C°. Thus, the COVID-19 vaccine has not only given the pharmaceutical companies new opportunities but also adequate challenges that will make them redefine vaccination systems.

Pneumococcal Conjugate Vaccine Emerges as Largest Vaccine Category

Pneumococcal diseases remain a substantial cause of death amongst adults and children. They are a cause of 5,00,000 annual deaths amongst adults above 70 years of age and 3,20,000 annual deaths of children below five years of age. According to the World Health Organization (WHO), as of 2019, 152 countries have fully or partially introduced pneumococcal conjugate vaccine (PCV) immunization in infant routine immunization. Furthermore, addition of PCV in routine infant immunization by 42 countries, including large ones like India, China, and Indonesia, will trigger an increase of demand in excess of 60 million doses over the next ten years.

WHO report suggests that high interest in Human Papilloma Virus (HPV) vaccination programmes by countries across all income groups has led to a sharp increase in demand in the past few years. Report estimates that the HPV vaccines segment was worth 82.5 Mn in 2020.

Meanwhile, shingles vaccine is poised to achieve highest CAGR of 15.5% in revenue terms among all the vaccine disease indications by 2025 In the U.S., about 35% of people 60 and above were vaccinated for shingles by 2018, up from about 7% in 2008 as per the latest Centers for Disease Control and Prevention report. So far, 17 million people have received at least one dose of Shingrix, vaccine for shingles developed by GSK, although the shots are recommended for more than 100 million people.

South and East Asia and Western Pacific to See Phenomenal Growth with Emerging Markets

Vaccines study by Fairfield Market Research finds that emerging countries have high growth potential till the end of forecast period 2025. Highly populous countries such as India and China are largest producers as well as consumers of vaccines. This demand is driving high growth in regions of South and East Asia (SEARO) and Western Pacific (WPRO).

Americas (AMRO) remains largest regional contributor in value terms due to presence of high revenue markets such as the U.S. and Canada. This region is anticipated to contribute to half of the global vaccines market revenue by 2025. HPV, Influenza (adult), Varicella, and meningococcal vaccines have a higher relative value in the region than in the rest of the world.

Vaccines Market to Remain Oligopolistic with Tough Barrier to Entry

Vaccine manufacturing remains concentrated with GSK, Pfizer, Merck, and Sanofi, who control 90% of global vaccine in terms of value. Meanwhile, Serum Institute of India, GSK, Sanofi, Bharat Biotech International Limited and Haffkine produce 60% of global vaccine in terms of volume. While concentrated in aggregate, few specific vaccines are true monopolies with only one supplier. Different geographies have different supply dynamics. A total of 19 vaccine varieties have about three or fewer suppliers and 36 have two or fewer prequalified suppliers in different regions. This makes production and distribution process oligopolistic.

In the 1980s, emerging market manufacturers started entering the vaccine market and have assumed a significant role since. They now contribute to about half of UNICEF's vaccine procurement in volume of doses, and 30% of the value of UNICEF's total vaccine procurement. The entry of emerging market manufacturers, particularly in the underused vaccines market has resulted in lower vaccine prices due to increased competition and higher production capacities for individual vaccines.

Few Other players in the market are CSL Limited (Seqirus), Emergent BioSolutions Inc., Mitsubishi Tanabe Pharma Corporation, Moderna, Novavax, Serum Institute of India Pvt. Ltd., and Sinopharm.

The Global Vaccines Market is Segmented as Below:

Vaccine

  • PCV
  • D&T-containing
  • HPV
  • Seasonal Influenza
  • Shingles
  • Rotavirus
  • Meningococcal
  • MCVs
  • Varicella
  • COVID-19
  • Others

Country Group

  • PAHO RF (Pan American Health Organization)
  • Self-procuring HICs(High Income Countries)
  • Self-procuring MICs(Middle Income Countries)
  • UNICEF(GAVI– Global Alliance for Vaccines and Immunizations)
  • UNICEF-procuring MICs(Middle Income Countries)

Geographical Coverage

  • Africa (AFRO)
  • Americas (AMRO)
  • Eastern Mediterranean (EMRO)
  • Europe (EURO)
  • South and East Asia (SEARO)
  • Western Pacific (WPRO)

Leading Companies

  • CSL Limited (Seqirus)
  • Emergent BioSolutions Inc.
  • GlaxoSmithKline plc.
  • Haffkine Bio-pharmaceutical Corporation Ltd.
  • Merck & Co., Inc.
  • Mitsubishi Tanabe Pharma Corporation
  • Moderna
  • Novavax
  • Pfizer Inc.
  • Sanofi Pasteur
  • Serum Institute of India Pvt. Ltd.
  • Sinopharm

Inside This Report You Will Find:

1. Executive Summary
2. Market Overview
3. Vaccines Supply Dynamics
4. Vaccines Pricing Analysis
5. Global Vaccines Market Outlook, By Vaccine, 2017 - 2025
6. Global Vaccines Market Outlook, By Country Group , 2017 - 2025
7. Global Vaccines Market Outlook, By Region, 2017 - 2025
8. Global Vaccines Market Outlook, By Company, 2017 - 2025
9. Competitive Landscape
10. Appendix

Post Sale Support, Research Updates & Offerings:

We value the trust shown by our customers in Fairfield Market Research. We support our clients through our post sale support, research updates and offerings.

  • The report will be prepared in a PPT format and will be delivered in a PDF format.
  • Additionally, Market Estimation and Forecast numbers will be shared in Excel Workbook.
  • If a report being sold was published over a year ago, we will offer a complimentary copy of the updated research report along with Market Estimation and Forecast numbers within 2-3 weeks’ time of the sale.
  • If we update this research study within the next 2 quarters, post purchase of the report, we will offer a Complimentary copy of the updated Market Estimation and Forecast numbers in Excel Workbook.
  • If there is a geopolitical conflict, pandemic, recession, and the like which can impact global economic scenario and business activity, which might entirely alter the market dynamics or future projections in the industry, we will create a Research Update upon your request at a nominal charge.

1. Executive Summary
     1.1. Global Vaccines Market Outlook, Value (US$ Million) and Volume (Number of Doses) (Million), 2017 - 2025
     1.2. Global Vaccines Incremental Opportunity, Value (US$ Million) and Volume (Million), 2020 - 2025
     1.3. Key Takeaways

2. Market Overview
     2.1. Market Segmentations and Definitions
     2.2. Market Dynamics
          2.2.1. Market Drivers
          2.2.2. Market Restraints
          2.2.3. Market Opportunities
     2.3. COVID-19 Impact Analysis

3. Vaccines Supply Dynamics
     3.1. Vaccines Supply

4. Vaccines Pricing Analysis
     4.1. Vaccine Prices
     4.2. Vaccine Price Changes

5. Global Vaccines Market Outlook, By Vaccine, 2017 - 2025
     5.1. Key Highlights
     5.2. Global Vaccines Market Outlook, by Vaccine, Value (US$ Million) and Volume (million), 2017 - 2025
          5.2.1. PCV
          5.2.2. D&T-containing
          5.2.3. HPV
          5.2.4. Seasonal Influenza
          5.2.5. Shingles
          5.2.6. Rotavirus
          5.2.7. Meningococcal
          5.2.8. MCVs
          5.2.9. Varicella
          5.2.10. COVID-19
          5.2.11. Others
     5.3. Global Vaccines Market Share and BPS(Basis Points) Analysis, by Vaccine, 2020 and 2025
     5.4. Global Vaccines Market Attractiveness Analysis, by Vaccine, 2020 - 2025

6. Global Vaccines Market Outlook, By Country Group , 2017 - 2025
     6.1. Key Highlights
     6.2. Global Vaccines Market Outlook, by Country Group, Value (US$ Million) and Volume (million), 2017 - 2025
          6.2.1. PAHO RF (Pan American Health Organization)
          6.2.2. Self-procuring HICs(High Income Countries)
          6.2.3. Self-procuring MICs(Middle Income Countries)
          6.2.4. UNICEF (GAVI – Global Alliance for Vaccines and Immunizations )
          6.2.5. UNICEF-procuring MICs(Middle Income Countries)
     6.3. Global Vaccines Market Share and BPS(Basis Points) Analysis, by Country Group, 2020 and 2025
     6.4. Global Vaccines Market Attractiveness Analysis, by Country Group, 2020 - 2025

7. Global Vaccines Market Outlook, By Region, 2017 - 2025
     7.1. Key Highlights
     7.2. Global Vaccines Market Outlook, by Region, Value (US$ Million) and Volume (million), 2017 - 2025
          7.2.1. Africa (AFRO)
               7.2.1.1. Market Share Analysis, By Value (US$ Million), 2019
               7.2.1.2. Market Share Analysis, By Dosage (US$ Million), 2019
               7.2.1.3. Market Share Analysis, By Procurement Method (US$ Million), 2019
               7.2.1.4. Vaccines Supply and Pricing Analysis
               7.2.1.5. List of Manufacturers in the Region, By Vaccine
          7.2.2. Americas (AMRO)
               7.2.2.1. Market Share Analysis, By Value (US$ Million), 2019
               7.2.2.2. Market Share Analysis, By Dosage (US$ Million), 2019
               7.2.2.3. Market Share Analysis, By Procurement Method (US$ Million), 2019
               7.2.2.4. Vaccines Supply and Pricing Analysis
               7.2.2.5. List of Manufacturers in the Region, By Vaccine
          7.2.3. Eastern Mediterranean (EMRO)
               7.2.3.1. Market Share Analysis, By Value (US$ Million), 2019
               7.2.3.2. Market Share Analysis, By Dosage (US$ Million), 2019
               7.2.3.3. Market Share Analysis, By Procurement Method (US$ Million), 2019
               7.2.3.4. Vaccines Supply and Pricing Analysis
               7.2.3.5. List of Manufacturers in the Region, By Vaccine
          7.2.4. Europe (EURO)
               7.2.4.1. Market Share Analysis, By Value (US$ Million), 2019
               7.2.4.2. Market Share Analysis, By Dosage (US$ Million), 2019
               7.2.4.3. Market Share Analysis, By Procurement Method (US$ Million), 2019
               7.2.4.4. Vaccines Supply and Pricing Analysis
               7.2.4.5. List of Manufacturers in the Region, By Vaccine
          7.2.5. South and East Asia (SEARO)
               7.2.5.1. Market Share Analysis, By Value (US$ Million), 2019
               7.2.5.2. Market Share Analysis, By Dosage (US$ Million), 2019
               7.2.5.3. Market Share Analysis, By Procurement Method (US$ Million), 2019
               7.2.5.4. Vaccines Supply and Pricing Analysis
               7.2.5.5. List of Manufacturers in the Region, By Vaccine
          7.2.6. Western Pacific (WPRO)
               7.2.6.1. Market Share Analysis, By Value (US$ Million), 2019
               7.2.6.2. Market Share Analysis, By Dosage (US$ Million), 2019
               7.2.6.3. Market Share Analysis, By Procurement Method (US$ Million), 2019
               7.2.6.4. Vaccines Supply and Pricing Analysis
               7.2.6.5. List of Manufacturers in the Region, By Vaccine
     7.3. Global Vaccines Market Share and BPS(Basis Points) Analysis, by Region, 2020 and 2025
     7.4. Global Vaccines Market Attractiveness Analysis, by Region, 2020 - 2025

8. Global Vaccines Market Outlook, By Company, 2017 - 2025
     8.1. Key Highlights
     8.2. Global Vaccines Market Outlook, by Company, Value (US$ Million) and Volume (million), 2017 - 2025
          8.2.1. AstraZeneca
          8.2.2. GlaxoSmithKline plc.
          8.2.3. Johnson & Johnson
          8.2.4. Merck & Co., Inc.
          8.2.5. Moderna, Inc.
          8.2.6. Novavax
          8.2.7. Pfizer Inc.
          8.2.8. Sanofi Pasteur
          8.2.9. Others
     8.3. Global Vaccines Market Share and BPS(Basis Points) Analysis, by Company, 2020 and 2025
     8.4. Global Vaccines Market Attractiveness Analysis, by Company, 2020 - 2025

9. Competitive Landscape
     9.1. Company Market Share Analysis, 2019
     9.2. Company Profiles
          9.2.1. CSL Limited (Seqirus)
               9.2.1.1. Company overview
               9.2.1.2. Financial performance
               9.2.1.3. Product Portfolio
               9.2.1.4. Research and Development
               9.2.1.5. Recent Developments
Above details will include, but not be limited to below list of companies based on availability
          9.2.2. Emergent BioSolutions Inc.
          9.2.3. GlaxoSmithKline plc.
          9.2.4. Haffkine Bio-pharmaceutical Corporation Ltd.
          9.2.5. Merck & Co., Inc.
          9.2.6. Mitsubishi Tanabe Pharma Corporation
          9.2.7. Moderna
          9.2.8. Novavax
          9.2.9. Pfizer Inc.
          9.2.10. Sanofi Pasteur
          9.2.11. Serum Institute of India Pvt. Ltd.
          9.2.12. Sinopharm

10. Appendix
     10.1. Research Methodology
     10.2. Acronyms and Abbreviations

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

 

2019

 

2017 2018

 

2020 - 2025 

 Value: US$ Million

 Volume: Million  (No. of Doses)

 

REPORT FEATURES

DETAILS

Vaccine

  • PCV
  • D&T-containing
  • HPV
  • Seasonal Influenza
  • Shingles
  • Rotavirus
  • Meningococcal
  • MCVs
  • Varicella
  • COVID-19
  • Others

Country Group

  • PAHO RF (Pan American Health Organization)
  • Self-procuring HICs(High Income Countries)
  • Self-procuring MICs(Middle Income Countries)
  • UNICEF(GAVI– Global Alliance for Vaccines and Immunizations)
  • UNICEF-procuring MICs(Middle Income Countries)

Geographical Coverage

  • Africa (AFRO)
  • Americas (AMRO)
  • Eastern Mediterranean (EMRO)
  • Europe (EURO)
  • South and East Asia (SEARO)
  • Western Pacific (WPRO)

Leading Companies

  • CSL Limited (Seqirus)
  • Emergent BioSolutions Inc.
  • GlaxoSmithKline plc.
  • Haffkine Bio-pharmaceutical Corporation Ltd.
  • Merck & Co., Inc.
  • Mitsubishi Tanabe Pharma Corporation
  • Moderna
  • Novavax
  • Pfizer Inc.
  • Sanofi Pasteur
  • Serum Institute of India Pvt. Ltd.
  • Sinopharm

Report Highlights

Key Market Indicators, Market Estimates and Forecast, Market Dynamics, COVID-19 Impact Analysis, Competitive Landscape, Company Profiles, Regional Insights (vaccines / Dosage / Procurement Method Market shares, Vaccines Supply and Pricing Analysis, List of Manufacturers by vaccine)

FAQs : Vaccines Market

With ~ 50% share, Americas (AMRO) and with 31% share, South - East Asia (SEARO) are anticipated to hold the highest value and volume share by 2025 respectively.

The global vaccines market is expected to be valued at US$ 54,684.8 Mn by the end of 2025, wherein PCV vaccine holds the highest value share.

Development of more vaccines for new disease indications coupled with increasing adoption of higher-margin products viz. combination vaccines driving the global vaccines market growth.

~90% of global vaccine sales come from four large multi-national corporations (GlaxoSmithKline plc.; Merck & Co., Inc.; Sanofi Pasteur; and Pfizer Inc.) They are part of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA).

Self-procuring MICs (Middle Income Countries) to exhibit highest revenue growth during the forecast period with 12.9% CAGR, followed by Self-procuring HICs (High Income Countries) with CAGR of 9.7%.

Our Research Methodology

Under uncertainty, traditional approaches to strategic planning can be downright dangerous. True ambiguity is no basis to forecast the future – degree of risk, the magnitude of circumstances, conditions and consequences are not known or unpredictable. To avoid dangerous binary views of uncertainty; strategic posture, moves and actions through market research is the best bet.

Read more
Fairfield Quality assured
Fairfield Confidentiality assured
Fairfield Custom research services