Preventive and Therapeutic Vaccine Market Size, Industry Analysis Report, Regional Outlook, Application Growth Potential, Competitive Market Growth & Forecast, 2024 – 2032

Preventive and Therapeutic Vaccine Market Size, Industry Analysis Report, Regional Outlook, Application Growth Potential, Competitive Market Growth & Forecast, 2024 – 2032

Preventive and Therapeutic Vaccine Market Size

Preventive and Therapeutic Vaccine Market experienced significant growth in 2023 and will grow at a remarkable CAGR from 2024 to 2032 owing to the introduction of new vaccines targeting a wider range of diseases, in tandem with expanding healthcare infrastructure. These new vaccines offer preventive and therapeutic solutions for a broader spectrum of illnesses, meeting the diverse healthcare needs of populations worldwide. Additionally, improved access to immunization services through expanding healthcare infrastructure facilitates the adoption and administration of vaccines, further driving market expansion.
 

For instance, in February 2024, a new clinical trial for an mRNA-based cancer vaccine commenced in the United Kingdom, focusing on immunotherapy research.
 

Increasing investments in research and development for vaccine development, alongside new product launches, are key drivers of growth in the preventive and therapeutic vaccine market. These investments enable the development of innovative vaccines targeting a wider range of diseases while new launches expand the availability of effective preventive and therapeutic options. This combination of factors will drive market expansion and meet the growing demand for immunization worldwide.
 

For instance, in October 2023, the FDA approved PENBRAYA™, the first and only vaccine designed to prevent the five most common serogroups responsible for meningococcal disease in adolescents.
 

Though high costs linked to vaccine development and production and supply chain disruptions pose challenges, the industry continues to advance. Investments in research and development are driving innovation, leading to the creation of more effective vaccines. Moreover, collaboration among stakeholders is improving supply chain resilience and ensuring timely delivery of vaccines. These efforts contribute to the overall growth and sustainability of immunization efforts globally.
 

Preventive and Therapeutic Vaccine Market Trends

Advancements in vaccine delivery technologies play a crucial role in driving the preventive and therapeutic vaccine industry forward. Innovations such as mRNA and viral vector platforms improve vaccine efficacy, enhance targeted delivery, and reduce adverse reactions. Additionally, these technologies enable the development of novel vaccines with improved stability and storage, facilitating broader distribution and accessibility. Overall, these advancements contribute to the growth and effectiveness of vaccination efforts worldwide.
 

For instance, in April 2023, GlaxoSmithKline Pharmaceuticals Ltd. introduced Shingrix (Zoster Vaccine Recombinant, Adjuvanted) in India to prevent shingles (herpes zoster) and post-herpetic neuralgia in adults aged 50 years and older.
 

Preventive and Therapeutic Vaccine Market Analysis

The preventive vaccine segment will secure considerable gains by 2032, attributed to the increasing emphasis on preventive healthcare measures globally, in combination with rising awareness about the importance of vaccination in disease prevention. Additionally, continuous advancements in vaccine development and manufacturing technologies are driving the growth of this segment. With a focus on preventing infectious diseases before they occur, preventive vaccines will remain the cornerstone of public health initiatives worldwide.
 

The conjugate vaccines segment will establish a substantial market foothold by 2032, attributed to its efficacy in combating a wide range of infectious diseases, in line with increasing adoption across various age groups. Additionally, advancements in vaccine development technologies and growing awareness about the benefits of conjugate vaccines are driving market growth. With ongoing research and development efforts aimed at enhancing vaccine formulations and expanding their applications, the conjugate vaccines segment will maintain its dominant position in the industry.
 

North America preventive and therapeutic vaccine market will demonstrate a noteworthy CAGR during 2024 and 2032, primarily due to several factors such as advanced healthcare infrastructure, high healthcare expenditure, extensive research and development activities, and favorable government initiatives promoting vaccination. Additionally, the presence of key market players and a large population base will further contribute to the region's dominance in the vaccine market. With continuous advancements in vaccine technology and increasing awareness about the importance of vaccination, North America will remain a major contributor to the industry.
 

Preventive and Therapeutic Vaccine Market Share

• Pfizer
• Johnson & Johnson
• GlaxoSmithKline
• AstraZeneca
• Emergent Biosolutions
• Sanofi Pasteur
• CSL
• Merck & Co.
   

Major players are bolstering their market presence through diverse approaches. They're making substantial investments in research and development to devise novel vaccines targeting a broader spectrum of illnesses. Moreover, these firms are forging strategic alliances and partnerships with research institutions, government bodies, and other entities to enrich their product offerings and expand their distribution networks. These concerted efforts contribute to their overall growth and dominance in the vaccine market.
 

Furthermore, they are focusing on expanding their presence in emerging markets by launching affordable and accessible vaccines tailored to the specific needs of these regions. Moreover, marketing campaigns and educational initiatives aimed at increasing public awareness about the importance of vaccination are being employed to drive demand for their products. By leveraging these strategies, these players are effectively increasing their market share and solidifying their position in the preventive and therapeutic vaccine industry.
 

Preventive and Therapeutic Vaccine Industry News

In June 2022, GSK revealed that Priorix received approval from the US FDA for preventing measles, mumps, and rubella in individuals aged 12 months and older.
 

In August 2023, ABRYSVO™, Pfizer's vaccine for preventing respiratory syncytial virus (RSV) in infants through active immunization of pregnant individuals at 32–36 weeks of gestational age, received approval from the U.S. FDA.

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