Rising concern about preventing and curing of chronic diseases such as diabetes, cholera, influenza and polio are anticipated to drive the global vaccine market over the forecast period. Increasing support from government and non-government organizations for providing funds coupled with ongoing advancement in technology are expected to be the major drivers for this market in coming seven years. Furthermore, increasing numbers of hospitals and healthcare institutions, growing personal disposable income in developing nations and rising awareness about minimal invasive diagnostic procedures are anticipated to propel the market over the next decade. Advancement in technology such as introduction of sub-unit vaccines coupled with rising demand for disposable vaccines due to effective control of infections is likely to trigger the global vaccine market growth over the forecast period. The emerging nations are anticipated to witness lucrative growth over the forecast period owing to rising medical tourism and huge potential market.
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Infectious diseases are expected to witness fastest growth over the forecast period owing to increasing incidences of cholera, influenza, polio, pneumonia, DPT, meningococcal, hepatitis, vericella and other conditions. By technology, subunit vaccine held the highest share due to rising demand for safe and efficient vaccines which is helpful in delivering fixed dose of medicines. On the basis of type, in 2014, preventive vaccine market held the largest market share. Owing to increasing incidences of chronic diseases and rising investment for R&D this segment is likely to maintain its dominance over the forecast period. Pediatric vaccine segment held the highest market share in 2014 owing to large amount of pediatric population and increasing incidences of infections.
In 2014, North America held the largest market share owing to high demand for minimal invasive diagnostic procedure, technical advancement and rising investment by government this region is expected to continue its dominance over the forecast period. Asia Pacific region is expected to witness highest growth in coming seven years due to increasing awareness about prevention and cure of infectious diseases, growing medical tourism and rising disposable income.
Major players of vaccines market are Emergent Biosolutions, Inc., SANOFI, Johnson & Johnson, Glaxosmithkline Plc., Medimmune, LLC, Bavarian Nordic, Pfizer, Inc., Novartis AG and CSL Limited.
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