Overview and Scope
Adult vaccines refer to the vaccines that are used to induce an immune response against a disease causing pathogen in adults. These vaccines are used for preventing and treating diseases such as influenza, pneumococcal disease, and herpes.
Sizing and Forecast
The adult vaccines market size has grown strongly in recent years. It will grow from $21.48 billion in 2023 to $23.09 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increasing aging population, government vaccination programs, growing awareness of preventive healthcare, vaccine development and innovation, public health campaigns.
The adult vaccines market size is expected to see strong growth in the next few years. It will grow to $32.13 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to emergence of new infectious threats, increasing focus on immunization registries, rising threat of antimicrobial resistance, global efforts for pandemic preparedness, shift toward personalized vaccines, increased focus on maternal immunization. Major trends in the forecast period include digital health integration, technological advancements in vaccine production, collaborations between governments and pharmaceutical companies, advancements in vaccine delivery technologies, expanding immunization programs.
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Segmentation & Regional Insights
The adult vaccines market covered in this report is segmented –
1) By Vaccine Type: Monovalent, Multivalent
2) By Technology: Live Attenuated Vaccines, Inactivated Viral or Bacterial Vaccines, Toxoid Vaccines, Recombinant Vaccines, Conjugate Vaccines
3) By Application: Influenza, DPT, Human Papillomavirus, Zoster, Pneumococcal, Hepatitis
4) By End Users: Healthcare Firms, Hospitals
North America was the largest region in the adult vaccines market in 2023. Asia-Pacific is expected to be the fastest-growing region in the adult vaccines market during the forecast period. The regions covered in the adult vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing prevalence of contagious diseases is driving the adult vaccine market forward. Contagious diseases are diseases that spread from person to person. Vaccines help the person to develop immunity against contagious diseases and therefore are a very effective mechanism for fighting infections. For instance, in December 2022, according to the World Health Organization’s COVID-19 dashboard, a Switzerland-based public health agency of the United Nations, 655 million people were infected with COVID-19 since the emergence of the virus in 2019. Furthermore, in 2021, according to the global tuberculosis report published by the World Health Organization, a Switzerland-based international public health agency of the United Nations, 1.3 million deaths (Non-HIV) occurred due to TB (Tuberculosis) which was up from 1.2 million in 2019. Therefore, the increasing prevalence of contagious diseases is driving the growth of the adult vaccines market.
Key Industry Players
Major companies operating in the adult vaccine market are focusing on strategic collaborations to develop and commercialize personalized cancer vaccine. Strategic collaborations are a type of business relationship in which two or more companies agree to work together to achieve common goals. For instance, in October 2022, Merck & Co., Inc., an American multinational pharmaceutical company, and Moderna, a US-based pharmaceutical and biotechnology company, entered into a collaboration to jointly develop and commercialize personalized cancer vaccine (PCV) mRNA-4157/V940 pursuant to the terms of their existing collaboration and license agreement. mRNA-4157/V940 is currently being evaluated in combination with KEYTRUDA, Merck’s anti-PD-1 therapy, as adjuvant treatment for patients with high-risk melanoma in a Phase 2 clinical trial being conducted by Moderna.
The adult vaccines market report table of contents includes:
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List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Adult Vaccines Market, Segmentation By Vaccine, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Adult Vaccines Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Adult Vaccines Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 75: GlaxoSmithKline PLC Financial Performance
Table 76: Merck & Co Financial Performance
Table 77: Sanofi Pasteur Financial Performance
Table 78: Pfizer Inc Financial Performance
Table 79: Commonwealth Serum Laboratories Limited Financial Performance
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