Vaccines Market Scope And Analysis

Vaccines Market Report Scope

Regional Analysis

North America accounted for the largest share of the vaccines market. The market in North America is subsegmented into the US, Canada, and Mexico. The US holds the largest share of the vaccines market in this region.

The rising government support for vaccine development enhances vaccine production in the US alone. For example, in March 2023, the US Government announced an investment of US$ 31.9 billion in mRNA vaccine research and procurement. The study of vaccines is based on extensive analysis of US government research grants and procurement contracts related to mRNA vaccines and technologies. After the pandemic, US$ 29.2 billion (92%) of the US public funds announced vaccine procurement, with US$ 2.2 billion (7%) supporting clinical trials and US$ 108 million supporting manufacturing and science. Further, companies in the US get approval for vaccines favorably. For instance, in September 2023, Pfizer and BioNTech announced receiving USFDA approvals of "supplemental Biologics License Application (COMIRNATY 2023-2024 Formulation)" for individuals 12 years and older with emergency use authorization (EUA) for six months individuals. The newly approved vaccine is available in pharmacies, hospitals, and clinics across the US. Fast approvals and a rise in government support for vaccine development and manufacturing are responsible for the major market share of the US in the regional market.

Asia Pacific is expected to register the highest CAGR in the global vaccine market. Asia Pacific accounts for the largest share of R&D spending, with large publications and patents on vaccine research & development (R&D). Also, the region is home to state-owned and private pharmaceutical firms and contract research organizations (CROs) to conduct vaccine R&D. Further, countries in Asia Pacific utilize several supply-side and demand-side approaches to incentivize investment in vaccine R&D. For example, high-income countries in Asia Pacific are major contributors to product development partnerships launching vaccine development programs to boost innovative vaccine manufacturing and research.

During the COVID-19 pandemic, many high and middle-income countries in Asia Pacific established vaccine development manufacturing setups. Regional institutions and intergovernmental organizations in Asia Pacific helped promote and coordinate regional cooperation in vaccine R&D. Therefore, Asia Pacific favorable policies for conducting vaccine development programs to boost innovative vaccine manufacturing and research activities is a standalone factor responsible for accounting for the highest CAGR for the vaccine market during 2022-2030.

The report profiles leading players operating in the global vaccines market. These include GSK, Pfizer, Sanofi, Merck, Serum Institute of India (SII), AstraZeneca, BioNTech, Biological E, Sinovac, Sinopharm, and Bharat Biotech. In August 2022, GSK announced the acquisition of Affinivax, Inc., aiming to build a strong portfolio of specialty medicines and vaccines. The acquisition includes a next-generation 24 valent pneumococcal vaccine that is currently in Phase 2 development and is based on highly innovative Multiple Antigen Presenting System (MAPS) platform technology. The MAPS technology supports higher valency than conventional conjugational technologies and less broad coverage against prevalent pneumococcal serotypes. It generates higher antibody responses for many individual serotypes than current pneumococcal vaccines.

In January 2022, Pfizer Inc. announced a collaboration with BioNTech for new research, development, and commercialization to develop a potential first mRNA-based vaccine for the prevention of shingles. Also, the collaboration builds on the company's success in developing the first approved and most widely used mRNA vaccine to help prevent COVID-19.

Company Profiles

• GSK
• Pfizer
• Sanofi
• Merck
• Serum Institute of India (SII)
• AstraZeneca
• BioNTech
• Biological E
• Sinovac
• Sinopharm
• Bharat Biotech