by The vaccine technologies market comprises various types of vaccine technologies such as attenuated vaccines, inactivated vaccines, conjugate vaccines, toxoid vaccines, and DNA/RNA vaccines that help prevent various infectious diseases like influenza, meningococcal disease, Rotavirus infection, human papillomavirus infection, pneumococcal disease, etc. Vaccines offers immense advantages like they are safe and effective, they protect society by reducing the spread of infectious disease, and they have significantly reduced human suffering from infectious diseases. With growing prevalence of infectious diseases worldwide due to factors like population growth, urbanization, climate change, and increased international travel and trade, there is increased need for effective preventive measures which is driving demand for improved vaccine technologies.
The global vaccine technologies market is estimated to be valued at US$ 52.31 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the vaccine technologies market are Blackmores Limited, Vitaco Holdings Limited, Integria Healthcare, Bioglan, Deep Blue Health (NZ) Co. Limited, Phytomed, NZ Herbals, and Sanderson. These key players are focusing on developing new and improved vaccines to treat various common and emerging infectious diseases.
The growing demand for immunization and rising focus on preventive healthcare is driving the demand for vaccines worldwide. With increasing availability of innovative vaccine technologies, immunization programs across the world are being strengthened.
The Vaccine Technologies Market Share is also witnessing significant expansion in emerging economies due to initiatives taken by governments and non-profit organizations to improve vaccination coverage in developing nations. Leading vaccine firms are also focusing on these high growth markets which is positively impacting the market growth.
Market Key Trends
Development of combination vaccines through incorporation of multiple antigens in a single vaccine dosage is one of the key trends being witnessed in the vaccine technologies market. Combination vaccines help reduce the number of injections, improve vaccination compliance and reduce costs associated with separate vaccinations. Leading players are engaged in developing novel combination vaccines for diseases like measles-mumps-rubella (MMR), diphtheria-tetanus-pertussis (DTaP) etc. Growing focus on the development of thermostable vaccines which do not require cold chain storage is another major trend in the market. This helps improve the accessibility of vaccines in remote locations and developing regions.
Porter’s Analysis
Threat of new entrants: Low investment required and established distribution channel serves as barriers for new players.
Bargaining power of buyers: Significant buyer power due to presence of large healthcare providers and research institutions.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute technologies.
Threat of new substitutes: Threat from novel substitutes is moderate as alternate technologies require immense R&D investment.
Competitive rivalry: High rivalry due to intense competition among existing players.
The geographical regions where the value of the vaccine technologies market is concentrated currently include North America, Europe, and Asia Pacific. North America dominates the market with the highest share currently due to the presence of major players, advanced healthcare infrastructure, and growing demand for medical innovations in the region.
The fastest growing geographical region for the vaccine technologies market during the forecast period from 2024 to 2031 is expected to be Asia Pacific. Factors such as improving healthcare facilities, rising awareness regarding immunization, developing economies, and rapid economic growth in various Asia Pacific countries including China, India, Japan, and South Korea are projected to boost demand and drive the market at a high CAGR in the region compared to other regions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.
