Global Preventive Vaccines Market Insights Forecasts to 2033

• The Global Preventive Vaccines Market Size was valued at USD 88.34 Billion in 2023.
• The Market is Growing at a CAGR of 1.37% from 2023 to 2033
• The Worldwide Preventive Vaccines Market Size is expected to reach USD 101.22 Billion by 2033
• Asia Pacific is Expected to Grow the Fastest during the forecast period

The Global Preventive Vaccines Market Size is expected to reach USD 101.22 Billion by 2033, at a CAGR of 1.37% during the forecast period 2023 to 2033.

Preventive vaccines aim to destroy bacteria or viruses in our bodies using antibodies produced by the prevention immunization. The body's ability to fend off infections is enhanced by the presence of antibodies. The COVID-19 virus has recently been added to the list. Merely 5% of the worldwide pharmaceutical market is devoted to vaccines. In addition, the increasing firm activity in creating effective vaccines, as well as the increasing number of vaccine approvals, are all contributing to the market growth. According to the World Health Organisation (WHO), while vaccinations save 3.1 million lives each year, another 1.5 million are lost due to a lack of vaccination initiatives, demonstrating the importance of vaccines and their contribution to global health. Herd immunity can be created if enough children and adults are immunized against a disease (about 95% of the population). Herd immunity protects people who are unable to receive immunizations for no apparent reason. The primary reasons driving the global preventive vaccine market are a growth in the number of diseases, increased research and development spending, and public awareness of these vaccinations. A rise in fresh product introductions helps to boost the preventative vaccine industry.

Report Coverage

This research report categorizes the market for the global preventive vaccines market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global preventive vaccines market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global preventive vaccines market.

Driving Factors

The demand for preventative vaccines, especially the new COVID-19 vaccine, is growing, and rising healthcare costs and advancements in vaccination technology have made the market dynamic during this pandemic. Scientists throughout the world are investigating, exchanging knowledge, expanding laboratory capacity in developing countries, and establishing global monitoring networks to prevent and monitor the development of these diseases through preventative vaccinations. Pharmaceutical and biotechnology companies are working together to develop and manufacture the vaccine. The global preventive vaccinations market is developing as a result of rising infectious disease prevalence, enhanced vaccine research technologies, increased government and international assistance, and higher awareness of preventative care.

Restraining Factors

Preventive vaccines have certain constraints, including expensive development costs, which might hinder overall market growth. For instance, vaccine development is a costly enterprise that normally takes ten to fifteen years and costs between USD 800 million and USD 1 billion. The development of vaccines necessitates significant investments in research, development, and cutting-edge manufacturing facilities. Furthermore, it requires specific knowledge that is not generally available.

Market Segmentation

The global preventive vaccines market is classified into type and disease indication.

• The live attenuated vaccines segment dominates the market with the largest revenue share over the forecast period.

Based on the type, the global preventive vaccines market is segmented into inactivated vaccines, live attenuated vaccines, subunit, conjugate vaccines, and others. Among these, the live attenuated vaccines segment is dominating the market with the largest revenue share over the forecast period. Live-attenuated vaccines are very effective and safe vaccinations used to prevent a wide range of viral and bacterial infections. In these vaccines, the pathogen is still viable, but it has been changed so that it can elicit an immune response but not cause infection. In general, these vaccinations elicit stronger and broader immune responses than inactivated (killed pathogen) immunizations.

• The polio segment is witnessing significant CAGR growth over the forecast period.

Based on the disease indication, the global preventive vaccines market is segmented into influenza, pneumococcal, COVID-19, hepatitis, polio, measles, mumps, rubella (MMR), and others. Among these, the polio segment is witnessing significant growth over the forecast period. The poliovirus causes the disease polio. It mostly spreads through the fecal-oral pathway, and in extreme cases, it can result in paralysis and death. The development of polio vaccines, particularly the inactivated polio vaccine (IPV) and the oral polio vaccine (OPV), represented a watershed moment in public health.

Regional Segment Analysis of the Global Preventive Vaccines Market

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is projected to hold the largest share of the global preventive vaccines market over the forecast period.

North America is projected to hold the largest share of the global preventive vaccines market over the forecast period. The growth of the preventive vaccines market in North America is being fuelled by the increasing size of pharmaceutical companies and ongoing research in biotechnology. In Canada, the National Advisory Committee on Immunization is responsible for proposing newly approved vaccines to public health professionals. The Canada Immunization Guide (CIG) is based on the recommendations of the national advisory committee and other criteria. The committee also focuses on implementing programs for vaccine dose and administration by the public to avoid the spread of dangerous illnesses.

Europe is expected to grow at the fastest CAGR growth of the global preventive vaccines market during the forecast period. Increased investment in vaccine research and development by government and non-governmental organizations is expected to boost the region's vaccine sector size in the coming years. Increased government funding for immunization initiatives, such as the Universal Immunization Program, is boosting the sector in the region. The Universal Immunization Program seeks to prevent diseases including smallpox, polio, and measles.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global preventive vaccines market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Market Players

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

Key Market Developments

• In August 2023, A bivalent RSV prefusion F vaccine, developed by Pfizer Inc., was approved by the U.S. Food and Drug Administration (FDA) to prevent LRTD and severe LRTD in infants from birth to six months of age. This can be achieved by actively immunizing pregnant women between 32 and 36 weeks gestational age. Unadjuvanted and consisting of two preF proteins chosen to maximize defense against RSV A and B strains, ABRYSVO is both safe and efficient.

• In June 2022, GlaxoSmithKline Plc has formally submitted a Biologics License Application (BLA) to the United States Food and Drug Administration (USFDA) for its experimental vaccination known as PRIORIX, which was first registered in Germany and has since acquired licenses from more than 100 nations.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global preventive vaccines market based on the below-mentioned segments:

Global Preventive Vaccines Market, By Type

• Inactivated Vaccines
• Live Attenuated Vaccines
• Subunit
• Conjugate Vaccines
• Others

Global Preventive Vaccines Market, By Disease Indication

• Influenza
• Pneumococcal
• Covid- 19
• Hepatitis
• Polio
• Measles
• Mumps
• Rubella 
• Others

Global Preventive Vaccines Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa