Northrook, IL -- (SBWIRE) -- 06/26/2020 -- [188 Pages Report] The Global Vaccines Market is projected to reach USD 58.4 billion by 2024 from USD 41.7 billion in 2019, at a CAGR of 7.0% during the forecast period.

The growth of this market is majorly attributed to the high prevalence of infectious diseases, increasing company initiatives to enhance vaccine R&D, growing government support for vaccine development, and the rising focus on immunization. However, the huge capital investments required for developing vaccines may restrain market growth.

Market Size Estimation;

The market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (segmental analysis of major segments) and top-down approach (assessment of utilization/adoption/penetration trends, by technology, type, disease indication, route of administration, patient type, and region).

Data Triangulation;

After arriving at the market size, the vaccines market was divided into several segments and subsegments. Data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments.

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Market Segmentation in Depth:

By technology, the conjugate vaccines segment accounted for the largest market share in 2018.

On the basis of technology, the vaccines market has been segmented into conjugate vaccines, inactivated and subunit vaccines, live attenuated vaccines, recombinant vaccines, and toxoid vaccines. The conjugate vaccines segment accounted for the largest share of the vaccines market in 2018. The large share of this segment can be attributed to increasing government support and rising company investments in conjugate vaccine development.

Monovalent vaccines segment commanded the largest share of the vaccines market, by type, in 2018.

On the basis of type, the vaccines market has been segmented into monovalent and multivalent vaccines. The monovalent vaccines segment accounted for the largest share of the vaccines market in 2018. The large share of this segment can be attributed to the rising prevalence of diseases and increasing government and non-government initiatives to promote immunization.

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Geographical Regions Mapped in Report:

In 2018, North America accounted for the largest share of the vaccines market, followed by Europe. Factors such as the high prevalence of infectious diseases and increasing investments by government and non-government organizations for vaccine development are driving the vaccines market in North America.

Maior Key Players Mapped in Research Report:

GlaxoSmithKline plc (UK), Pfizer, Inc. (US), Sanofi Pasteur (France), and Merck & Co., Inc. (US) are the key players operating in the vaccines market. Other prominent players in this market include CSL Limited (Australia), Emergent BioSolutions, Inc. (US), Johnson & Johnson (US), AstraZeneca (UK), Serum Institute of India Pvt. Ltd. (India), Bavarian Nordic (Denmark), Mitsubishi Tanabe Pharma Corporation (Japan), Daiichi Sankyo (Japan), Panacea Biotec (India), Biological E (India), Bharat Biotech (India), Sinovac Biotech Ltd (China), Incepta Vaccine Ltd. (Bangladesh), Valneva SE (France), VBI Vaccines Inc. (US), and Bio Farma (Brazil).