Viral Vaccines Market to be Worth $64.18 Billion by 2031 - Exclusive Report by Meticulous Research®
REDDING, Calif., Dec. 4, 2024 /PRNewswire/ -- According to a new market research report, ' Viral Vaccines Market Size, Share, Forecast, & Trends Analysis by Form (Liquid, Lyophilized) Type (Live Attenuated, mRNA, Inactivated), Route of Administration (Intramuscular, Subcutaneous, Oral), Approach, Indication, Packaging – Global Forecast to 2031', published by Meticulous Research®
The viral vaccines market is projected to reach $64.18 billion by 2031, at a CAGR of 9.3% from 2024 to 2031.
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Viral vaccines or viral vector vaccines use a viral vector to deliver genetic material into the host to elicit an immune response to fight or protect against viral infections.
The growth of this market is driven by the increasing government focus on immunization programs, technological advances in vaccine administration, and the use of inactivated vaccines in surgeries and treatments. However, the high costs of vaccine development and the long timelines of vaccine manufacturing restrain the growth of this market.
Furthermore, the growing focus on therapeutic vaccines, this increasing use of adjuvants in vaccines, growth prospects in emerging markets, and the development of highly stable and energy-efficient ultra-low-temperature freezers are expected to generate growth opportunities for market stakeholders. However, product recalls and inadequate access to vaccines are major challenges impacting the market's growth.
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The report also includes an extensive assessment of the leading players' product portfolio and geographic presence and the key growth strategies adopted by them over the past three to four years. In recent years, the viral vaccines market has witnessed several organic and inorganic strategic developments. The key players profiled in the viral vaccines market report are Pfizer Inc. (U.S.), GlaxoSmithKline plc (U.K.), AstraZeneca plc (U.K.), CSL Limited (Australia), Merck & Co., Inc. (U.S.), Sanofi (France), Sinovac Biotech Ltd. (China), Moderna, Inc. (U.S.), Valneva SE (France), Dynavax Technologies Corporation (U.S.), EMERGENT BIOSOLUTIONS INC. (U.S.), Johnson & Johnson (U.S.), Bharat Biotech Ltd. (India), and Serum Institute of India Pvt. Ltd. (India).
Increasing Use of Adjuvants in Vaccines
Conventional live-attenuated vaccines have proven effective for various indications, such as smallpox, measles, and polio, in most cases. However, these vaccines often come with side effects, including fever, rashes, and vaccine-derived infections. Additionally, large-scale production and issues related to vaccine consistency present significant challenges. To address these issues, adjuvant vaccines, which stimulate robust immune responses, were developed.
Adjuvant vaccines contain only a small part of the pathogen, which helps reduce immunogenicity and minimizes side effects. Adjuvants in vaccines serve various purposes, including:
- Initiating the immune response to antigens by delivering them in their native form.
- Facilitating single-step vaccination, thereby reducing vaccination costs.
- Enhancing immune responses in immunocompromised individuals.
Until recently, aluminum-containing adjuvants were considered the gold standard for comparing other adjuvants. However, recent advancements have improved the physical, chemical, and biological properties of these adjuvants, reducing hypersensitivity reactions, carcinogenicity, teratogenicity, and toxicity in humans. Various modifications to adjuvant systems have also been made. For instance, oil-in-water emulsion-based adjuvants have been developed for human use due to their effective and promising results. Additionally, virosome vaccines have been specifically designed for influenza treatment, offering effectiveness, quality, and long-lasting immune responses. Ongoing research is focused on selecting the best adjuvants—whether classical adjuvants, immunostimulants, or combinations—to enhance vaccine efficacy. As a result, advancements in adjuvant research and utilization present new growth opportunities for vaccine manufacturers.
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The viral vaccines market is segmented by Form (Liquid Vaccines, Lyophilized Vaccines), Vaccine Type (mRNA Vaccines, Live-attenuated Vaccines, Inactivated Vaccines, Viral Vector Vaccines, Subunit & Conjugate Vaccines, Toxoid Vaccines, Combination Vaccines), Route of Administration (Intramuscular (IM), Subcutaneous (SC), Oral, and Other Routes of Administration), Approach (Preventive Vaccines, Therapeutic Vaccines), Indication (Influenza, Human Papilloma Virus (HPV), Rotavirus, Poliomyelitis (Polio), Hepatitis, Cancer, and Other Indications), Packaging (Vials, Prefilled Syringes) and Geography.
Among the forms studied in this report, in 2024, the lyophilized vaccines segment is slated to register the highest CAGR of 11.1% of the viral vaccines market. Lyophilized viral vaccines are preserved through a freeze-drying process that removes excess water, enhancing their stability, extending shelf life, and making transportation easier. These vaccines are commonly used to prevent infections such as yellow fever, measles, mumps, rubella, and other viral diseases, offering advantages such as improved stability and transportability.
Among the vaccine types studied in this report, in 2024, the viral vector vaccines segment is slated to register the highest CAGR of 17% of the viral vaccines market. Viral vector vaccines use modified viruses to deliver genetic material into cells, prompting them to produce viral proteins that trigger an immune response. These vaccines offer several benefits, including a strong immune response, rapid development and scalability, broad effectiveness, and the potential for creating multivalent vaccines.
Among the approaches studied in this report, in 2024, the preventive vaccines segment is slated to register the highest CAGR of the viral vaccines market. This growth is driven by factors such as the increasing prevalence of chronic and infectious diseases, rising public awareness of immunization, and the expansion of immunization programs. For instance, in February 2024, the Union Minister for Finance & Corporate Affairs of India proposed a vaccination program under the Viksit Bharat by 2047 campaign aimed at preventing cervical cancer in girls aged 9 to 14.
Among the indications studied in this report, in 2024, the cancer segment is slated to register the highest CAGR of 24.1% of the viral vaccines market. Cancer prevalence is rising globally; according to GLOBOCAN, 20.0 million new cancer cases were reported in 2022, with this number projected to increase to 24.1 million by 2030. The growing prevalence of cancer highlights the need for preventive techniques to reduce human suffering and financial burdens. Vaccines play a crucial role in first-line prevention of premalignant conditions and cancer, as well as in secondary prevention for patients who have undergone curative treatments to reduce recurrence.
Among the routes of administration studied in this report, in 2024, the intramuscular segment is expected to account for the largest share of the viral vaccines market. The IM route, which involves administering vaccines into a patient's muscles, is preferred due to its ability to elicit a strong immune response, along with its safety, tolerability, and compatibility with various vaccine types.
Among the packaging types studied in this report, in 2024, the vials segment is slated to register the highest CAGR of the viral vaccines market. Vials, made from plastic or glass, are small containers used to package liquid or powdered medications. They provide a protective environment for viral vaccines, helping to maintain stability and efficacy by shielding the vaccines from external factors like moisture, light, and contamination.
Among the regions studied in this report, Asia-Pacific is slated to register the highest CAGR of 10.2% of the viral vaccines market. This growth is primarily attributed to the increasing prevalence of infectious diseases, growing public awareness of vaccines and immunization, government initiatives, high healthcare expenditure, and rising disposable incomes. For instance, in April 2024, Wockhardt Hospitals (India) launched an immunization program aimed at people of all age groups to emphasize the importance of vaccination.
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Scope of the Report:
Viral Vaccines Market—by Form
- Liquid Vaccines
- Lyophilized Vaccines
Viral Vaccines Market—by Vaccine Type
- Subunit & Conjugate Vaccines
- Live-attenuated Vaccines
- Inactivated Vaccines
- mRNA Vaccines
- Viral Vector Vaccines
- Toxoid Vaccines
- Combination Vaccines
Viral Vaccines Market—by Route of Administration
- Intramuscular (IM)
- Subcutaneous (SC)
- Oral
- Other Routes of Administration
(Other virus types include norovirus and DNA viruses)
Viral Vaccines Market—by Approach
- Preventive Vaccines
- Therapeutic Vaccines
Viral Vaccines Market—by Indication
- Influenza
- Human Papilloma Virus (HPV)
- Rotavirus
- Poliomyelitis (Polio)
- Hepatitis
- Cancer
- Other Indications
(Other indications include varicella, herpes zoster vaccines, chlorella, severe acute respiratory syndrome, and rabies diseases)
Viral Vaccines Market—by Packaging
- Vials
- Prefilled Syringes
Viral Vaccines Market—by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Switzerland
- Ireland
- Denmark
- Belgium
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
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