Vaccines Market Trends

Growth Drivers

• Mounting Administration of COVID-19 Vaccine to Boost the Market Growth

As per the data released by the World Health Organization (WHO), it was shown that as of September 19, 2022, nearly 12,640,866,343 doses of vaccine were administered globally.

COVID-19 has been designated as one of the most life-threatening diseases that accounted for millions of deaths worldwide and ruined the economy of multiple countries. Hence, such a higher prevalence of death due to COVID-19 was set to boost the demand for vaccines to ease the circumstances. Multiple companies across the globe are constantly developing vaccines to entirely cure the symptoms of COVID-19. Therefore, all these factors are expected to hike the growth of the market over the forecast period.

• Growing Demand for Vaccines to Cure Hepatitis B

As of 2019, approximately 30 million people were estimated to be living with hepatitis B, while around 800,000 people die due to hepatitis B every year.

• Increasing Cases of Tuberculosis Across the Globe

For instance, nearly 10 million people were projected to be suffering from tuberculosis (TB) in 2020, out of which, nearly 3 million were women and 5 million were men.

• Rising Government Initiative to Prevent Poliovirus

On account of significant vaccination procedures, the cases of poliovirus are estimated to be decreased by approximately 98% affecting only 1 child out of 5 under the age of 5 years.

• Significant Requirement to Prevent Pneumococcal Pneumonia

It is observed that pneumococcal pneumonia accounted for around 3000 deaths solely in the USA.

Challenges

• Requirement for Higher Initial Investment
• Long-Lasting and Costly Procedure of R&D of the Vaccine
• Higher Possibility of Failure and Side-Effects 

The global vaccines market is segmented and analyzed for demand and supply by application into viral diseases (influenza, hepatitis, herpes zoster, rubella, rotavirus, and others), and bacterial diseases (diphtheria, meningococcal, pneumococcal, and others), out of which, the bacterial diseases segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the prevalence of bacterial diseases globally. For instance, in 2019, over 1 million people lost their lives due to antibiotic-bacterial resistant infections.