PUBLISHER: Meticulous Research | PRODUCT CODE: 1504214
PUBLISHER: Meticulous Research | PRODUCT CODE: 1504214
Viral Vaccines Market Size, Share, Forecast, & Trends Analysis by Form (Liquid, Lyophilized) Type (Live Attenuated, mRNA, Inactivated) Virus (Adenovirus, Retrovirus, Plasmid DNA, AAV), Approach, Indication, Application, Packaging-Global Forecast to 2031
The viral vaccines market is projected to reach $47.01 billion by 2031, at a CAGR of 1.9% from 2024 to 2031.
Following a comprehensive primary and secondary study and an in-depth analysis of the market scenario, this report provides the key drivers, constraints, challenges, and opportunities of the industry. This market is driven by the increasing government focus on immunization programs, technological advancements in vaccine administration, and the use of inactivated vaccines in surgeries or treatment.
Furthermore, the growing focus on therapeutic vaccines, increasing use of adjuvants in vaccines, growth prospects in emerging markets, and development of highly stable and energy-efficient ultra-low temperature freezers provide a significant growth opportunity for this market. However, the high costs involved in vaccine development and long timelines of vaccine manufacturing may restrain the growth of this market. Additionally, product recalls and inadequate access to vaccines pose a major challenge for the players operating in this market.
Among forms, in 2024, the liquid vaccines segment is expected to account for the largest share of above 90.3% of the viral vaccines market. The large market share of this segment is attributed to factors such as ease of administration, reduced risk of errors, reduced wastage, improved patient experience, low production costs, and better stability. Bharat Biotech Ltd. (India), a vaccines and bio-therapeutics manufacturer, has a live attenuated rotavirus vaccine included in its product portfolio that is a liquid frozen vaccine containing live rotavirus 116E strain and is used for the prevention of rotavirus gastroenteritis.
Among vaccine types, in 2024, the subunit & conjugate vaccines segment is expected to account for the largest share of the viral vaccines market. The large market share of this segment is attributed to factors such as subunit & conjugate vaccines' low risk of immunogenicity and long-term immunity. Moreover, certain modifications have been made to the physio-chemical properties of carrier proteins to achieve optimum antigenic representation, cellular trafficking reduction, and uniform vaccine distribution. Therefore, with ongoing advancements, the adoption of subunit & conjugate vaccines is expected to increase.
Among virus types, in 2024, the adenovirus segment is expected to account for the largest share of the viral vaccines market. This segment's large market share is attributed to factors such as better stability compared to other viruses, efficient gene delivery, strong immune response, replication-incompetent viruses, and high scalability. Additionally, adenoviruses have been extensively studied and used in multiple vaccine trials, providing knowledge and experience in their development and optimization for vaccine purposes.
Among approaches, in 2024, the preventive vaccines segment is expected to account for the larger share of the viral vaccines market. The large market share of this segment is attributed to factors such as the increasing prevalence of chronic and infectious diseases, rising awareness for immunization in public, growing immunization programs, and induction of herd immunity due to the use of these preventive viruses. For instance, in February 2024, under the Viksit Bharat by 2047 campaign, the Union Minister for Finance & Corporate Affairs of India proposed a vaccination program to prevent cervical cancer in girls of age group 9 to 14.
Among indications, in 2024, the infectious diseases segment is expected to account for the largest share of the market. The large share of the segment is attributed to factors such as effectiveness in preventing infectious diseases, faster spread of infectious diseases, and rising risk of pandemics. Viral vaccines for infectious diseases have been used earlier for eradication or near-elimination of diseases such as smallpox and polio in many parts of the world and have significantly reduced the burden of other diseases such as measles, mumps, and rubella.
Among applications, in 2024, the antisense therapy segment is expected to account for the largest share of the market. Antisense therapy is a technique that is used to tackle conditions such as neurodegenerative disorders, viral infections, and cancers using short DNA-like molecules called antisense oligonucleotides. The large share of the segment is attributed to factors such as the growing prevalence of infectious diseases, technological advancements in the use of viral vectors, and increasing healthcare expenditure.
An in-depth analysis of the geographical scenario of the viral vaccines market provides detailed qualitative and quantitative insights for the five major geographies (North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America) along with the coverage of major countries in each region.
In 2024, North America is expected to account for the largest share of above 44.0% of the viral vaccines market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The large market share of this segment is primarily due to the presence of leading manufacturers, large R&D investments, support from government and regulatory authorities, a rise in the number of infections, the presence of healthcare professionals to administer vaccines, and growing immunization programs for vaccination.
The key players operating in the viral vaccines market are Pfizer, Inc. (U.S.), AstraZeneca plc (U.K.), GlaxoSmithKline plc (U.K.), Sanofi S.A. (Italy), CSL Ltd. (Australia), Mitsubishi Tanabe Pharma Corporation (Japan), Merck & Co., Inc. (U.S.), Moderna, Inc. (U.S.), Johnson & Johnson Services, Inc. (U.S.), Dynavax Technologies Corporation (U.S.), Serum Institute of India Pvt. Ltd (India), Emergent BioSolutions, Inc. (U.S.), Bharat Biotech International Limited (BBIL) (India), and Valneva SE (France).
Viral Vaccines Market-by Form
Viral Vaccines Market-by Vaccine Type
Viral Vaccines Market-by Virus Type
(Other virus types include norovirus and DNA viruses)
Viral Vaccines Market-by Route of Administration
(Other virus types include norovirus and DNA viruses)
Viral Vaccines Market-by Approach
Viral Vaccines Market-by Indication
(Other indications include varicella, herpes zoster vaccines, chlorella, severe acute respiratory syndrome, and rabies diseases)
Viral Vaccines Market-by Application
Viral Vaccines Market-by Packaging
Viral Vaccines Market-by Geography
(Note: SWOT analysis will be provided for the top 5 players only)