The new report by Expert Market Research titled, ‘Global Conjugate Vaccine Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global conjugate vaccine market, assessing the market based on its segments like types, disease indications, diseases, pathogen types, patients, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 14.4 Billion
- Forecast CAGR (2023-2028): 11%
- Forecast Market Size (2028): USD 27 Billion
The pandemic bolstered the conjugate vaccine market in the historical period as some biotechnology companies researched to develop vaccines to prevent the spread of COVID-19. For instance: in July 2021, BioFarma, a corporation of Cuba, announced Soberana 2 vaccine against COVID 19 spread. The increasing prevalence of diseases and the use of conjugate vaccines for adults worldwide are driving the market growth of the conjugate vaccines industry.
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In addition, the rising regulatory approvals by organisations, such as the World Health Organisation and the growing awareness about the efficiency of the vaccine is also resulting in the steady growth of the market. The expanding geriatric population and their susceptibility to the diseases are providing impetus to the growth of the conjugate vaccine industry.
Industry Definition and Major Segments
The conjugate vaccine combines weak antigens and strong antigens to enable the immune system to strongly respond to the weak antigen by producing T cells and antibodies. The doses are administered to immunise the population against diseases, like influenza, diphtheria tetanus and pertussis, and meningococcal, among others.
The conjugate vaccine industry, by type, is divided into
- Monovalent Conjugate Vaccine
- Multivalent Conjugate Vaccine
Based on disease indication, the market is segmented into:
- Diphtheria Tetanus and Pertussis (DTP)
On the basis of pathogen type, the market is divided into:
- Bacterial Conjugate Vaccine
- Viral Conjugate Vaccine
- Combined Conjugate Vaccine
Based on patient, the market is segmented into:
The regional markets for conjugate vaccine include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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The efforts taken by governments across the world to immunise the population to reduce mortality and morbidity is leading to the incremental development of the conjugate vaccine industry. The Government of India launched Pneumococcal Conjugate Vaccine (PCV) in May 2017 to reduce infant mortality and morbidity caused by pneumococcal pneumonia in Bihar, Himachal Pradesh, Madhya Pradesh, 19 districts of Uttar Pradesh and 18 districts of Rajasthan. The initiatives of industry players in launching vaccines and getting them approved by regulatory bodies are also resulting in the expansion of the conjugal vaccine industry. For instance: in July 2021, Merck declared the approval of VAXNEUVANCE™ (Pneumococcal 15-valent Conjugate Vaccine) by the United States Food and Drug Administration against invasive pneumococcal disease in adults 18 years and older. The ongoing research activities to develop efficient vaccines is expected to augment the conjugate vaccine industry in the forecast period.
Key Market Players
The major players in the market are Serum Institute of India Pvt., Ltd., Groupe Sanofi, Pfizer Inc., Novartis AG, and Bharat Biotech Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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