The preventive vaccine market is expected to show a lucrative growth at a CAGR of around 9.0% during the forecast period 2020-2026. A vaccine is used to provide active acquired immunity to a particular disease. There are two types of vaccines used that include preventive vaccine and therapeutic vaccine. Therapeutic vaccine is provided to a person affected with a chronic viral infection to increase the body’s natural defenses activity. The preventive vaccine is administrated to a person who is not affected by the target infection and the immune system reacts by producing antibodies against the virus. 

Some of the major factors contributing to the market growth include rising healthcare infrastructure of the countries, increasing per capita healthcare expenditure, and increasing awareness toward vaccination in the emerging economies. Besides, government funding for vaccination, new researches in the vaccines is also driving the vaccination market. Significant control over diseases has been obtained all across the globe such as polio however vaccines for many diseases are under development including HIV, dengue, and malaria, which once approved will provide significant growth to the market. 

Moreover, as the COVID-19 pandemic spread all across the globe, the need for the preventive vaccine has been increased exponentially. Due to this, companies are trying to develop the vaccine as early as possible. It is expected that by 2021, a vaccine for frontline workers will be ready and by 2022 a vaccine for common people will be available in the market. Due to the COVID-19 pandemic, the market is expected to witness an exponential rise in the near future. 

Market Segmentation

The global preventive vaccine market is segmented based on vaccine type and patient. Based on the vaccine type, the market is divided into live-attenuated vaccines, inactivated vaccines, subunit, recombinant, polysaccharide, & conjugate vaccines, toxoid vaccines, and others. Live-attenuated vaccines are generally used for measles, mumps, rubella, rotavirus, smallpox, chickenpox, and yellow fever. Inactivated vaccines are used for hepatitis A, flu, polio, and rabies. Subunit, recombinant, polysaccharide, & conjugate vaccines are used for the prevention of Hib disease, hepatitis B, HPV, whooping cough, pneumococcal disease, meningococcal disease, and shingles whereas toxoid vaccines are used for diphtheria and tetanus prevention. 

Pediatric segment is estimated to hold a significant market share 

By patient type, the market is segmented into pediatric and adults. In 2019, the pediatric vaccine segment is expected to hold a major market share as most of the vaccines developed are admitted to the children with a regular interval from the time of birth, however, in the near future, the growth of the market will be lead by adult vaccines as soon as the vaccine for the COVId-19 will be developed. 

Global Preventive Vaccine Market Share by Patient, 2019 (%)

Regional Outlook

The global preventive vaccine market is segmented based on four major regions, including North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2019, developed market such as North America and Europe holds a major market share owing to high penetration of vaccination. Moreover, Asia-Pacific is expected to show significant growth in the market as along with the other disease prevention vaccines, COVID-19 vaccine will significantly contribute to the vaccination awareness in the region. A number of non-governmental agencies invest in the rest of the world, especially in African countries for vaccination which is expected to provide significant growth to the region. However, the market revenue is expected to be low as the companies do not sale their branded vaccines in these regions and allow generic drug companies to manufacture vaccines. 

Global Preventive Vaccine Market Growth, by Region 2020-2026

Market Players Outlook

The major players operating in the market include Sanofi SA, GlaxoSmithKline PLC, CSL Ltd., Merck & Co., Inc., Pfizer Inc., Gilead Sciences, Inc., Astellas Pharma Inc., AstraZeneca plc, China National Biotec Group Company Ltd., Emergent BioSolutions Inc., Mitsubishi Tanabe Pharma Corp., Teva Pharmaceutical Industries Ltd. The market players are adopting growth strategies, including mergers and acquisitions, product launches, and partnerships & collaborations, to gain a competitive advantage in the market. As o May 2020, more than 70 vaccines are under development alone for COVID-19 all across the globe. One of the major one is of Pfizer Inc. In April 2020, Pfizer Inc. and BioNTech SE have dosed the first cohort of BioNTech’s BNT162 Phase 1/2 clinical trial in Germany for COVID-19. Both the companies plan to initiate trials for BNT162 in the US after regulatory approval.

The Report Covers

• Market value data analysis of 2018 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global preventive vaccine market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.