Combination Vaccines Market Size - By Technology (Conjugate, Live, Inactivated), Age Group (Pediatric, Adult), Application (Diphtheria, Tetanus, & Pertussis (DTP), Polio, Hepatitis B, Influenza), End-use (Hospitals, Clinics) & Forecast, 2023 - 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationCombination Vaccines Market Size - By Technology (Conjugate, Live, Inactivated), Age Group (Pediatric, Adult), Application (Diphtheria, Tetanus, & Pertussis (DTP), Polio, Hepatitis B, Influenza), End-use (Hospitals, Clinics) & Forecast, 2023 - 2032
Combination Vaccines Market Size
Combination Vaccines Market size was valued at USD 4.6 billion in 2022 and is anticipated to expand at over 10.9% CAGR from 2023 to 2032 driven by growing emphasis on preventive healthcare globally, with a focus on vaccination as a crucial preventive measure. The global market for vaccines is projected to reach USD 96.3 billion during the forecast period.
The combination vaccines offer a comprehensive approach by providing protection against multiple diseases in a single shot. This convenience improves patient compliance and increases vaccination rates, thereby supplementing the industry growth. Additionally, increasing government initiatives such as funding, awareness campaigns, and vaccination mandates will drive the combination vaccines market demand.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Combination Vaccines Market Size in 2022 | USD 4.6 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 10.9% |
| 2032 Value Projection | USD 12.5 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 220 |
| Tables, Charts & Figures | 336 |
| Segments covered | Age Group, Technology, Application, End-use, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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COVID-19 Impact
The COVID-19 pandemic had a negative impact on the growth of combination vaccines market. The increased focus on developing and distributing vaccines specifically targeting the coronavirus has led to a diversion of resources, attention, and funding away from other vaccine development projects, including combination vaccines for non-COVID diseases. This shift in priorities have slowed down the progress and research in the field of combination vaccines.
Similarly, disruptions in the global supply chain, manufacturing processes, and clinical trials caused by the pandemic have affected the availability and timely introduction of combination vaccines, thereby fostering the business development. Furthermore, the uncertainty and economic challenges posed by the pandemic have also impacted healthcare budgets and investments, potentially affecting the funding and support for the development and distribution of combination vaccines, therefore, hampering the market growth in 2020.
Combination Vaccines Industry Trends
Infectious diseases like the flu, hepatitis, and diphtheria are on the rise, and that's pushing up the demand for vaccines that protect against multiple diseases at once. For example, a report from the Pan American Health Organization says there are about 10,000 new cases of hepatitis B each year, and sadly, about 23,000 people die from it. Since these diseases are still a big health threat, there's a growing need for good vaccination plans, which is driving growth in the market for combination vaccines. Also, more and more people are learning about how great combination vaccines are, especially the ones that protect against hepatitis B. This is creating a great chance for companies in the combination vaccine business.
Combination Vaccines Industry Restraint
Stringent regulatory requirements may hamper the combination vaccines industry progression. The development and approval process for these vaccines involves meeting rigorous regulatory standards, that can be time-consuming, complex, and expensive. Also, the complex nature of combination vaccines, with multiple antigens and potential interactions, requires extensive safety and efficacy evaluations. Such factors will create entry to entry for manufacturers and prolong time to promote the new combination vaccines, thereby hampering the market statistics.
Combination Vaccines Market Analysis
The pediatric segment accounted for 56.5% of the combination vaccines market share in 2022 and is set to witness considerable growth over the analysis timeframe. Increasing pediatric population will accelerate the business growth. As the pediatric population expands, there is a growing demand for effective immunization strategies to protect children from various diseases. Such growing immunization demand will foster the sector growth. In addition, the advancements in vaccine technology and manufacturing capabilities have facilitated the development of safer and more effective combination vaccines for children, thus augmenting the industry statistics.
The conjugate combination vaccine industry will cross a valuation of USD 5.1 billion by 2032. The use of conjugate technology in combination vaccines offers several advantages, including improved vaccine efficacy, enhanced immune memory, and increased immunogenicity. Such associated advantages will drive the segment growth. Moreover, increasing investments in research and development by both pharmaceutical companies and government organizations is expected to contribute to the industry development in the forthcoming year.
Get ready for the flu! The influenza segment is set to grow like crazy over the next decade, with an expected growth rate of almost 12% from 2023 to 2032. Why? Because the flu is a major pain in the neck, affecting millions of people every year. Just last season, there were an estimated 9 million cases, 4 million doctor visits, and 10,000 hospital stays. Yikes! So, what's driving this growth? Well, for one, the flu virus is sneaky and loves to change its game plan. That means our vaccines have to keep up, so there's always a need for new and improved protection. Plus, those most vulnerable to the flu, like the elderly and folks with weak immune systems, are more likely to get vaccinated. With all these factors in play, the market for flu vaccines is set to explode.
The hospitals sector dominated the industry share of 61.9% and is expected to grow at a considerable growth over the analysis timeframe. Hospitals play a crucial role in providing comprehensive healthcare services including vaccination programs, thereby fostering the segmental expansion. However, hospitals often have access to a wide range of patient populations, including those at higher risk of infectious diseases. This will provide an opportunity to increase the uptake of combination vaccines and promote preventive healthcare practices within the hospital community, thereby accelerating the business statistics in the future.
North America combination vaccines market captured 40.8% of the global share in 2022 and is said to foresee significant growth till 2032. Favorable regulatory environment coupled with increasing prevalence of infectious diseases is expected to garner the regional growth. Additionally, collaborations between pharmaceutical companies, research institutions, and government organizations in the region will lead to advancements in vaccine research and development. These collaborations will promote innovation, thereby accelerating the development of new combination vaccines, and aiding to the growth of the industry.
Combination Vaccines Market Share
Major players operating in the combination vaccines business landscape are
- Sanofi Pasteur
- GlaxoSmithKline (GSK)
- Merck & Co., Inc.
- Panacea Biotec
- Sinovac Biotech
- Serum Institute of India
These industry players majorly adopt various strategies including collaborations, acquisitions, mergers, and partnerships to create a global footprint and sustain market competition. Also, kindly note that the company profile section include both companies that have commercial drug available in market as well as those that are into clinical phase development.
Combination Vaccines Industry News
- In June 2021, Merck, and Sanofi’s Vaxelis, a six-in-one pediatric combination vaccine approved in the U.S. VAXELIS is the hexavalent (six-in-one) combination vaccine indicated for active immunization to help prevent diphtheria, tetanus, pertussis, poliomyelitis, hepatitis B, and invasive disease due to Haemophilus influenzae type b. This strategy helped the company to expand its customer base.
- In September 2020, Sanofi Pasteur India, the vaccines global business unit of Sanofi launched Tetraxim, a DTaP-IPV booster vaccine in India for preschoolers. This booster vaccine provides protection against four major diseases - Diphtheria, Pertussis, Tetanus, and polio. This strategy helped the company to expand and grow.
This combination vaccines market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments
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Market, By Age Group
- Pediatric
- Adult
Market, By Technology
- Conjugate
- Live
- Recombinant
- Inactivated
- Toxoid
- Other Technologies
Market, By Application
- Diphtheria, Tetanus, and Pertussis (DTP)
- Polio
- Hepatitis B
- Influenza
- Hepatitis A
- Varicella (chickenpox)
- Measles, Mumps, and Rubella (MMR)
- Other Applications
Market, By End-use
- Hospitals
- Public Hospitals
- Private Hospitals
- Clinics
- Other End-users
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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