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Viral Vaccines Market

Viral Vaccines Market: Information by Type (Preventive Vaccine, Therapeutic Viral), Indication (Influenza, Hepatitis), Route of Administration, Patient Type, and Region — Forecast till 2029

Published At : 10 Mar, 2022
Updated At : 11 Mar, 2022
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Market Snapshot
Base Year:
2021
Study Period:
2017-2029
CAGR:
8.49 %
Fastest Growing Market:
Asia Pacific
Largest Market:
North America

Market Introduction

Viral infections can be the world's greatest killers, thus posing significant health, economic, and social threats for the global community. The study of the scope of the global viral vaccines market includes the market size analysis of the manufacturer's products and strategies.

The global viral vaccines market was valued at USD 35,543.70 million in 2020 and is expected to reach a market valuation of USD 74,366.61 million by 2029, owing to an 8.49% CAGR during the forecast period.

Market Drivers

Robust Research and Development Activities to Fatten the Market

Researchers worldwide are presently conducting various research studies to expand the market. They are building lab capacities in underdeveloped countries and creating global surveillance networks to prevent disease spread through vaccination. The increased supply of vaccines worldwide is expected to meet the unmet demands through rigorous R&D, controlling the spread of endemic diseases. 

Pharmaceutical and drug manufacturers, international organizations, philanthropic foundations, and hospitals aim to provide cost-effective and timely immunization to people globally. In addition, several regions under government surveillance ensure that people get essential vaccines at a minimum or no cost. For instance, the pneumococcal conjugate vaccine under the Universal Immunization Program (UPI) was rolled out to 21 lakh children living in Bihar and Himachal Pradesh in India. 

The high demand for vaccines is one of the substantial reasons for the growing contribution in a million dollars' market value. Moreover, government investments and company funding drive the R&D sector to launch novel vaccines. For instance, Janssen Pharmaceutical, a pharmaceutical giant based in Belgium, collaborated with a biotechnology company, Vaxart, Inc. This collaboration was announced to rediscover oral influenza vaccines in the form of pills. 

A Rise in Geriatric Population and Chronic Infections to Strengthen the Market

Nowadays, people worldwide tend to live longer, and every country is witnessing growth in the proportion and number of older people in their population. For instance, as per the World Health Organization (WHO) data, the population aged 60 years and above is expected to reach 2 billion by 2050, up from 900 million in 2015.

Infectious diseases are a major public health concern, and they often remain undiagnosed. Screening is crucial for improving the health outcomes of virus infected-patients. For instance, as per the CDC estimates, from October 2021 to January 2022, around 2.1 million flu illnesses, 21,000 hospitalizations, and 1,200 deaths from flu were reported in the US. 

On the other hand, HPV is ubiquitous, especially in Asian countries. Approximately 80% of Australians have had human papillomavirus (HPV) at some point in their lives, according to a factsheet released by family planning NSW, Reproductive and Sexual Health. In addition, the European Centre for Disease Prevention and Control (ECDC) estimated a hepatitis C incidence of 8.7 per 100,000 in the Member States of the European Union (EU) in 2019. Further, estimates assume that about 27% of liver cirrhosis and 25% of hepatocellular carcinoma are attributable to chronic hepatitis C virus (HCV).

Such growth in the number of chronic viral diseases and infections, along with a rise in the number of the older population, is enhancing the demand for vaccines that are likely to boost people's immunity to fight health threats. This is expected to contribute heavily to the market's growth during the assessment period. 

High Cost of Vaccines to Impede the Market Growth

The high cost associated with vaccines is a matter of concern. The WHO, along with other national governments, are taking the initiative for the standard affordability of hepatitis, influenza, HPV, and MMR vaccine to better target vaccine supply. 

Despite this, the accessibility of vaccines is still low, particularly in remote areas of developing countries such as Asia-Pacific and Africa. The increased viral diseases incidence in these locations may hinder the market's growth. As per the CDC, the updated vaccine price list for 2020 has been reported, wherein the Infanrix's per dose private cost was around USD 30. Further, the common Hepatitis A/ Hepatitis B vaccine was priced to be around USD 100.

Impact of COVID-19 and its Challenges

The COVID-19 pandemic is likely to raise the demand for the viral vaccines market, given the market's growing research and development activities. For instance, in an article published by the US National Library of Medicine in January 2021, a study was performed to study the impact of intravenous viral vaccines on clinical outcomes of patients with Acute Respiratory Distress Syndrome ARDS during the COVID-19 pandemic. 

The purpose of the study was to evaluate the effects of intravenous viral vaccines on inflammation and gas exchange in acute respiratory distress syndrome (ARDS) due to the COVID-19 pandemic. That increases the demand for viral vaccines, thus propelling the market's growth. 

Segmental Analysis of the Viral Vaccines Market

Based on type, the segment is divided into preventive vaccine and therapeutic viral. In 2020, preventive vaccines captured the highest market share. This significant share is mainly attributed to the rise in prevalence of infectious diseases, use of ground-breaking technology for vaccine development, growth in funding from government and international organizations, and high awareness regarding preventive care.

Based on indication, the segment is divided into influenza, human papillomavirus, hepatitis, measles/mumps/rubella, and others. Influenza viruses substantially impact immunity and subsequent vaccine development as it undergoes constant genetic change. 

The influenza virus circulates quickly, which is responsible for regional epidemics and outbreaks, causing thousands of deaths. For instance, according to the Centers for Disease Control and Prevention (CDC), around 13 million flu cases were documented in 2019–20. Hence, the rise in the incidence rate of influenza drives the growth of this segment, registering a major share in the global market in 2020. 

Based on route of administration, the segment is divided into intramuscular and subcutaneous administration, oral administration, and others. Factors such as defined control of administration rate and dose, ease of administration, and rapid exposure to the antigen boost market growth. Also, high procurement volume by government and private organizations is expected to increase the demand for viral vaccines via intramuscular and subcutaneous administration. 

Based on patient type, the global viral vaccines market is segmented into pediatric and adult. In 2020, the pediatric segment accounted for the largest share of the vaccines market. The growing initiatives by public and private organizations and company programs for developing advanced pediatric vaccines to prevent diseases are anticipated to drive this segment.

By distribution channel, the global viral vaccines market is segmented into hospital and retail pharmacies, government suppliers, and others. The hospital & retail pharmacies segment held a dominating share of the global market in 2020 and is likely to grow at a higher CAGR during the forecast period.

Regional Analysis of the Viral Vaccines Market

The Supremacy of American Market over Others

North America's viral vaccines market has the highest revenue share and is expected to grow over the forecast period. The growth is subjected to emerging infectious diseases, a dangerous health threat worldwide. Moreover, the high prevalence of infectious diseases, including hepatitis, influenza, retroviral infections, and measles, is likely to drive the demand for vaccines during the forecast period. For instance, as per the Centers for Disease Control and Prevention, more than 1,282 cases of measles were confirmed in 31 states of the US from January 1–December 31, 2019. 

Also, the use of advanced technologies in vaccine development through genetic engineering is now providing an opportunity to target new diseases has proved to be transformative. Along with this, federal funding for R&D reached USD 138.9 billion in 2019 from USD 3.5 billion in 1955 at a 5.9% compound annual growth rate (CAGR). Such a rise in R&D expenditure in the American region influences the market. 

Competitive Landscape

The competitiveness among major players in the global market is moderately high; however, we estimate that competitiveness to increase by margins as the market is saturated with increasing participation from new entrants.

Major Players Involved in the Market Are

  • CSL Ltd
  • Pfizer, Inc.
  • Mitsubishi Tanabe Pharma Corporation
  • Sanofi
  • GlaxoSmithKline plc.
  • Merck Group & Co.
  • AstraZeneca

Key Developments

  • In July 2020, Merck received USFDA approval for an expanded indication of GARDASIL 9, an HPV vaccine to prevent oropharyngeal and head and neck cancers caused by different types of HPV.
  • In August 2021, GlaxoSmithKline plc submitted a Biologics License Application (BLA) for its investigational vaccine PRIORIX to the US FDA. It is indicated for measles, mumps, and rubella (MMR).

Global Viral Vaccines Market: Segmentation

By Type

  • Preventive Vaccine
  • Therapeutic Viral

By Indication

  • Influenza
  • Human Papillomavirus
  • Hepatitis
  • Measles/Mumps/Rubella
  • Others

By Route of Administration

  • Intramuscular and Subcutaneous Administration
  • Oral Administration
  • Others

By Patient Type

  • Pediatric
  • Adult

By Distribution Channels

  • Hospitals and Retail Pharmacies
  • Government Suppliers
  • Others

By Regions

  • Americas
  • Asia-Pacific
  • Europe
  • The Middle East and Africa

Frequently Asked Questions (FAQs)

Hospital & Retail Pharmacies Segment is expected to be leading segment in Viral Vaccines Market during the forecast period.
In 2029, the global viral vaccines market was valued at USD 74,366.61 million.
CSL Ltd, Pfizer, Inc., Mitsubishi Tanabe Pharma Corporation, Sanofi, GlaxoSmithKline plc., Merck Group & Co., AstraZeneca are the top players in Viral Vaccines Market.
The global viral vaccines market will be estimated to grow from the years 2018-2029.
Growing high demand for vaccines, rising the high prevalence of infectious diseases are the key factors expected to drive Viral Vaccines Market during forecast period.
The global viral vaccines market was valued at USD 35,543.70 million in 2020 and is expected to reach a market valuation of USD 74,366.61 million by 2029, owing to an 8.49% CAGR during the forecast period.
North America is expected to hold the highest market share in the viral vaccines market.
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Report Metric Details
Market Size USD in Billion By 2030
CAGR CAGR 8.49%
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered by Type (Preventive Vaccine, Therapeutic Viral), Indication (Influenza, Hepatitis), Route of Administration, Patient Type
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors CSL Ltd, Pfizer, Inc., Mitsubishi Tanabe Pharma Corporation, Sanofi, GlaxoSmithKline plc., Merck Group & Co., AstraZeneca,
Key Market Opportunities Increasing Prevalence Of The Healthcare It Industry Enhances The Expansion Of The Viral Vaccines Market Share
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