Vaccines are biological preparations that improve immunity against a particular disease. They contain an agent that resembles a disease-causing microorganism and is administered to produce immunity in the body. Vaccines help the immune system strengthen the defense mechanisms to easily identify and destroy pathogens related to the disease. They are designed to act as simulated infections and produce immunity with minimal risks of causing the disease. The global vaccine technologies market is primarily driven by the increasing prevalence of infectious diseases and growing awareness about preventive healthcare. Vaccines help prevent diseases such as influenza, measles, tetanus, diphtheria, and pertussis. They provide protection from serious illness, disability, and death associated with infectious diseases. Preventive healthcare is on the rise with growing healthcare expenditures and government initiatives to spread awareness.
The global vaccine technologies market is estimated to be valued at US$ 45.04 billion in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The global vaccine technologies market is expected to be flourished by rising demand for preventive healthcare. Preventive healthcare involves measures taken to prevent diseases, medical conditions, or injuries rather than curing them after they occur. Vaccines play a vital role in preventive healthcare by helping develop immunity against specific diseases. With growing healthcare costs and government initiatives to reduce the disease burden, focus on preventive care is increasing globally. Furthermore, rising penetration of health insurance and focus on wellness programs has increased the adoption of preventive practices including vaccination. Growing awareness about potential health risks is also boosting the demand for vaccines worldwide.
Additionally, the increasing prevalence of infectious diseases acts as a driver for the vaccine technologies market. According to the World Health Organization (WHO), infectious diseases are among the leading causes of death globally, accounting for approximately 26% of all global deaths. Untreated bacterial infections alone result in over 50,000 deaths per day worldwide. Growing incidences of diseases such as influenza, pneumonia, tuberculosis, hepatitis, HIV/AIDS, and others has increased the demand for vaccines to control the spread of infectious pathogens. Technological advancements in vaccine production techniques have further accelerated the market growth over the forecast period.
Segment Analysis
The vaccine technologies market can be segmented into recombinant technologies, conjugate vaccines, live attenuated vaccines, toxoid vaccines, and others. Among them, the recombinant technologies segment dominated the market in 2024, accounting for nearly 30% share. Recombinant technologies are used widely to develop vaccines against diseases like hepatitis, influenza, and papillomavirus. This type of vaccines induces strong and long-lasting immune response in the body against target pathogens. With increasing R&D investments and advancements in genetic engineering, the use of recombinant technologies for vaccine production is growing at a rapid pace.
PEST Analysis
Political: Vaccine production and procurement are governed by stringent regulations across nations. Favorable government policies promoting immunization programs are boosting the vaccine technologies market. However, some political instability and public funding constraints can impact vaccine adoption.
Economic: Rising healthcare expenditure, growing middle-class population with increased access to vaccines, and expanding national immunization programs are fueling market growth. However, high R&D costs associated with vaccine development pose economic challenges.
Social: Growing public awareness about vaccine-preventable diseases, their severity, and benefits of immunization are driving the uptake of various vaccines. Disease prevention and eradication efforts by international organizations are also positively impacting the social sentiments.
Technological: Advancements in recombinant DNA technology, genomics, proteomics, nanotechnology, and bioinformatics are revolutionizing vaccine R&D processes. Electronic health records and digital health solutions enable efficient vaccine delivery and post-marketing surveillance.
Key Takeaways
Global Vaccine Technologies Market Size is expected to witness high growth over the forecast period.
Regional analysis: North America currently holds the largest market share due to the presence of prominent players, rising investment in vaccine R&D, and increasing government funding for immunization programs. Asia Pacific is projected to witness the fastest growth during the forecast period given the expanding population base, rising disposable income, and improving healthcare infrastructure across developing nations like India and China.
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. Key players are focused on advancing technologies like DNA vaccines and digital immunization platforms to overcome the limitations of traditional vaccine approaches. Partnerships with research institutes and funding from global health organizations are also helping key players to innovate and develop new-generation vaccines.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
