Vaccine Market Tops 37 Billion, Says Kalorama Information Report
In 2020, the global market for preventive vaccines is valued at $37.4 billion, up overall from $30.7 billion in 2015. The finding was made in Kalorama Information’s report, Vaccines 2020. Strong continued growth in the global vaccines market is expected through 2025, specifically, the following findings were made:
- Growth at high double-digit rates.
- Sales of adult vaccines are expected to increase revenues at a faster pace than pediatric vaccines.
- The United States comprises the single largest market for vaccines.
- Despite a small decline between 2019 and 2020 due to COVID-19 and lockdowns, the vaccine market has grown seven billion dollars in the last five years.
“There was a small decline in vaccine sales in 2020 due to COVID-19, but over the past five years, there’s been growth,” said Bruce Carlson, Publisher of Kalorama Information.
More details are available in Kalorama’s report, including regional breakouts, disease-based market breakouts and forecasts, trends and other information. COVID-19 vaccines are not part of this market number, though Kalorama does forecast these in its report.
A mainstay of preventative medicine for over 70 years, a vaccine is a biological preparation used to trigger an immune response to a selected disease. The term derives from Edward Jenner’s use of cowpox (“vacca” means cow in Latin), which, when administered to humans, protected them against smallpox. Vaccines can be either prophylactic or therapeutic. Because of the large number of deadly diseases that have been virtually eliminated through the proliferation of effective vaccines, vaccination is generally viewed as one of the greatest public health achievements during the 20th century. As a result of widespread public vaccination, vaccine-preventable diseases and their resulting deaths are now rare in the developed nations and declining worldwide. Immunizations have eradicated smallpox; eliminated poliomyelitis in the Americas; and controlled measles, rubella, tetanus, diphtheria, Haemophilus influenzae type b, and other infectious diseases.
Kalorama says the European market is presently the second largest global vaccine market, with nearly twenty percent of the market.
In 2020, the global market for human preventive vaccines experienced mixed performance in 2020 due to the impact of COVID-19. Sales overall declined from $38.4 billion in 2019 to $37.4 billion in 2020. Despite the overall decreased market performance, in 2020, the report said some segments reported increases, including shingles and influenza.
Kalorama’s report can be found at: https://kaloramainformation.com/product/vaccines-2020-world-market-analysis-players-trends/
About Kalorama Information:
Kalorama Information, part of Science and Medicine Group, is the leading publisher of market research in healthcare areas, including in vitro diagnostics (IVD), biotechnology, healthcare, medical devices, and pharmaceuticals. Science and Medicine Group supports companies seeking to commercialize the rapidly changing marketplace at the intersection of science, medicine, and technology. Comprised of industry-leading brands, Science and Medicine Group serves analytical instrument, life science, imaging, and clinical diagnostic companies by helping them create strategies and products to win markets and provide platforms to digitally engage their markets through a variety of innovative solutions. Kalorama Information produces 30 reports a year. The firm offers a Knowledge Center, which provides access to all published reports.