PUBLISHER: Allied Market Research | PRODUCT CODE: 1641725
PUBLISHER: Allied Market Research | PRODUCT CODE: 1641725
UK Vaccines Market
The UK vaccines market was valued at $1.4 billion in 2023 and is projected to reach $3.0 billion by 2033, growing at a CAGR of 7.7% from 2024 to 2033.
A vaccine is a biological substance administered to protect individuals against infectious and potentially life-threatening diseases. It contains either the whole or a specific component of viruses, bacteria, or toxins responsible for diseases. Vaccines work by stimulating the immune system to trigger a defense against these pathogens without causing the disease. Key components of a vaccine include antigens, adjuvants, stabilizers, and preservatives. There are various types of vaccines, each designed to stimulate the immune system in different ways, such as inactivated vaccines, subunit vaccines, live attenuated vaccines, toxoid vaccines, and DNA or mRNA vaccines.
Increase in public health campaigns and free immunization initiatives by the National Health Service is a key driver of the UK vaccines market. In addition, rise in awareness among individuals regarding the importance of vaccination, particularly after the COVID-19 pandemic, has propelled the development of the market. A notable trend gaining prominence in the market in recent times is the formation of compound vaccines. These vaccines comprise varying antigens from bacteria, viruses, and other microorganisms, resulting in the development of one formulation offering protection against multiple diseases.
However, the extensive approval process established by the UK Medicines and Healthcare products Regulatory Agency for the commercialization of new vaccines hampers the development of the market. Furthermore, rise in the prevalence of disease variants due to frequent mutations in microorganisms restrains the market growth significantly. On the contrary, rise in the inclination of medical facilities and government in the UK toward developing vaccines for chronic diseases is projected to present remunerative opportunities for the market. For instance, The BMJ-a British publisher of medical journals-states that the UK is poised to become a hotbed of cancer vaccine trials as around 30 British hospitals have signed up to be part of the Cancer Vaccine Launch Pad in 2024.
Segment Review
The UK vaccines market is segmented into technology type, indication, and end user. On the basis of technology type, the market is divided into inactivated vaccines, toxoid vaccines, recombinant & conjugate vaccines, live attenuated vaccines, and others. As per indication, it is classified into pneumococcal disease; influenza; human papilloma virus; meningococcal disease; rotavirus; varicella; measles, mumps, & rubella; diphtheria, pertussis, & tetanus (DTP); polio; hepatitis; and other indications. By end user, it is categorized into pediatric, adults, and travelers.
Key Findings
On the basis of technology type, the recombinant & conjugate vaccines segment was the highest shareholder in 2023.
Depending on indication, the human papilloma virus segment held a notable share of the market in 2023.
As per end user, the pediatric segment dominated the market in 2023.
Competition Analysis
The major players in the global UK vaccines market include Pfizer, Valneva SE, Viatris Inc., AstraZeneca, Emergex Vaccines, Sanofi, Bavarian Nordic A/S, Prokarium, Merck & Co., Inc., and GSK plc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Additional benefits you will get with this purchase are:
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)