Meticulous Research® has released its latest report forecasting that the global vaccines market will reach $71.50 billion by 2031, growing at a compound annual growth rate (CAGR) of 2.3% over the forecast period. Key drivers of this market growth include a robust pipeline for vaccines, increased government immunization initiatives, and significant technological advancements in vaccine development. Additionally, the rising prevalence of various diseases, a growing focus on therapeutic vaccines, and promising growth in emerging markets present substantial opportunities for market players.
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However, the market faces challenges such as the high costs associated with vaccine development and lengthy manufacturing timelines. Product recalls and limited access to vaccines further constrain market growth.
1.1.1 Leading Market Players
Prominent companies in the vaccines market include:
• Sanofi (France)
• Merck & Co., Inc. (U.S.)
• GlaxoSmithKline plc (U.K.)
• Pfizer Inc. (U.S.)
• Johnson & Johnson (U.S.)
• Daiichi Sankyo Co., Ltd. (Japan)
• Takeda Pharmaceutical Company Limited (Japan)
• CSL Limited (Australia)
• Emergent BioSolutions Inc. (U.S.)
• AstraZeneca PLC (U.K.)
1.1.2 Market Segmentation and Future Outlook
1.1.2.1 By Indication
The vaccines market is segmented by indication into:
• Pneumococcal Disease
• Influenza
• Human Papillomavirus (HPV)
• Diphtheria, Tetanus, and Pertussis (DTP)
• Meningococcal Disease
• Measles, Mumps, and Rubella (MMR)
• Rotavirus
• Poliomyelitis (Polio)
• Hepatitis
• COVID-19
• Other Indications
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In 2024, the pneumococcal disease segment is anticipated to hold the largest market share, driven by the rising incidence of diseases such as pneumonia, meningitis, febrile bacteremia, otitis media, and sinusitis, as well as the development of high-quality vaccines like PPSV23.
1.1.2.2 By Route of Administration
The market is categorized by route of administration into:
• Intramuscular (IM)
• Subcutaneous (SC)
• Oral
• Other Routes
The intramuscular (IM) segment is expected to dominate in 2024, attributed to the ease of administration and rapid absorption associated with this method. The COVID-19 pandemic has further bolstered the adoption of the intramuscular route, with many COVID-19 vaccines being administered this way.
1.1.2.3 By Type
The vaccines market is classified by type into:
• Subunit & Conjugate Vaccines
• Inactivated Vaccines
• Live-Attenuated Vaccines
• Toxoid Vaccines
• Combination Vaccines
In 2024, the subunit & conjugate vaccines segment is projected to lead, thanks to their long-term immunity, high safety, and stability compared to other vaccine types.
1.1.2.4 By Valence
The market is divided by valence into:
• Multivalent Vaccines
• Monovalent Vaccines
The multivalent vaccines segment is expected to hold a larger share in 2024, due to the launch of new multivalent vaccines, increased R&D investments, and technological advancements in their production.
1.1.3 Geographic Analysis
This comprehensive report provides an in-depth analysis of key regions including:
• North America (U.S. and Canada)
• Europe (Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, and Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East & Africa
North America is projected to command the largest share of the vaccines market in 2024, with a 41.2% share, followed by Europe and Asia-Pacific. The significant market presence in North America is attributed to active research & development, frequent product launches, and the establishment of new facilities by key industry players.
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1.1.4 Conclusion
The vaccines market is poised for steady growth, driven by innovative advancements and increasing global health initiatives. Despite challenges, the market offers significant opportunities, particularly in emerging regions and through the development of new vaccine technologies. Meticulous Research® will continue to monitor and analyze these trends, providing valuable insights to industry stakeholders.

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