Vaccine Market Grows to 37.4 BN
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 (https://kaloramainformation.com/product/vaccines-2020-world-market-analysis-players-trends/). Strong continued growth in the global vaccines market is expected through 2025, specifically:
- 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
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.
“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.”
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.
However, risks are associated with all immunobiologics. No vaccine is completely safe or 100% effective. Vaccination risks range from common, minor, and local adverse effects to rare, severe, and life-threatening conditions. For example, some autoimmune diseases like acute disseminated encephalomyelitis, Guillain-Barré syndrome, transverse myelitis and multiple sclerosis are known to be connected to vaccines. In addition, some studies have linked a significant rise in autism to certain vaccines, although there is no widespread agreement on this. Thus, recommendations for immunization practices balance scientific evidence of benefits for each person and to society against the potential costs and risks of vaccination programs. These risks, however, have led to a rising number of individuals declining vaccination for themselves and their children, which in turn is believed to have contributed to recent increases in several serious, highly infectious conditions including mumps.
The European market is presently the second largest global vaccine market, with nearly twenty percent of the market. S
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:
• Influenza vaccines
• Rotavirus vaccines
• Shingles vaccines
Through 2025, growth will be fueled by favorable demographics (population growth, rising life expectancy), continued new product introductions, indication expansions for some products and rising usage, particularly in India and China. However, mitigating against growth will be continuing concerns about vaccine safety and refusal to immunize. This report contains an expanded section on this topic.