How Has the Respiratory Disease Vaccine Market Size Evolved in Recent Years?
The respiratory disease vaccine market has seen considerable growth due to a variety of factors.
• In recent years, the market size of the respiratory disease vaccine has witnessed a slight increase. With a compound annual growth rate (CAGR) of 1.3%, it is projected to expand from $69.99 billion in 2024 to $70.9 billion in 2025.
The surge during the past years is mainly due to the escalating prevalence of respiratory illnesses, enhanced awareness about vaccination among the public, public health campaigns, and an increasing demand for effective and more tolerable vaccines.
What Are The Predictions for The Respiratory Disease Vaccine Market in the Coming Years?
The respiratory disease vaccine market is expected to maintain its strong growth trajectory in upcoming years.
• The market for respiratory disease vaccines is predicted to experience consistent expansion in the forthcoming years, rising to an estimated $79.16 billion by 2029 with a compound annual growth rate (CAGR) of 2.8%.
Factors such as the aging population, an increase in healthcare expenditure, investments in vaccine research and development, and preparedness for pandemics are contributing to this growth during the forecast period. Notable trends for the forecast period encompass the creation of innovative vaccines, cooperative research initiatives, advancements in the process of vaccine development, and the approval of new drugs.
Which Drivers Are Accelerating Growth In The Respiratory Disease Vaccine Market?
The escalation in tuberculosis cases is projected to stimulate the growth of the respiratory disease vaccine market. Tuberculosis is a respiratory infection caused by Mycobacterium tuberculosis, primarily affecting the lungs and potentially other organs, leading to a variety of complications. The surge in tuberculosis cases can speed up the development and distribution of vaccines for respiratory diseases to diminish tuberculosis spread. By way of illustration, data from the Centers for Disease Control and Prevention, a US government agency, reported in November 2023 that there were 8,331 cases of TB in the United States in 2022, signifying a 5.9% increase in case numbers compared to 2021. The incidence rate grew to 2.5 cases per 100,000 individuals, showing a rise of 5.5% from the preceding year. Therefore, the escalating occurrence of tuberculosis is anticipated to be a driving force for the respiratory disease vaccine market. The rising prevalence of smoking is anticipated to fuel the expansion of the respiratory disease vaccine market. Smoking, which involves inhaling and exhaling the smoke produced from burning tobacco or similar products, provokes numerous health complications such as tracheitis, heart diseases, stroke, and cancer. Immunizations against specific respiratory illnesses can offer protection for smoking individuals to a certain extent. For instance, Statistics Canada, a Canadian government agency reported in July 2022 that the production of cigarettes saw a growth of 5.8% compared to June 2021. Additionally, there was a 1.3% increase in the total count of sold cigarettes from May 2022, with sales hitting 1.4 billion in June 2022. Hence, the augmenting prevalence of smoking is contributing to the expansion of the respiratory disease vaccine market.
What Are The Core Segments Of The Global Respiratory Disease Vaccine Market?
The respiratory disease vaccine market covered in this report is segmented –
1) By Type: Viral Vaccine, Bacterial Vaccine, Combination Vaccine
2) By Infection: COVID-19, Influenza, Respiratory Syncytial Virus (RSV), Pneumonia, Other Infections
3) By Age: Infant, Adolescent, Adult
4) By End-User: Clinic, Hospital, Other End-Users
Subsegments:
1) By Viral Vaccine: Influenza Vaccine, Respiratory Syncytial Virus (RSV) Vaccine, Coronavirus Vaccine
2) By Bacterial Vaccine: Pneumococcal Vaccine, Haemophilus Influenzae Type B (Hib) Vaccine, Pertussis Vaccine
3) By Combination Vaccine: DTaP With Hib And IPV, Pneumococcal Conjugate Vaccine With Influenza Vaccine, MMRV
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Which Emerging Market Trends Are Altering The Respiratory Disease Vaccine Industry?
Top companies engaged in the respiratory disease vaccine market are focusing on the development of cutting-edge products to increase their efficiency and offer better solutions for the prevention and treatment of respiratory disease infections. For instance, in May 2023, Pfizer Inc., a pharmaceutical firm based in the United States, gained approval from the Food and Drug Administration (FDA) for ABRYSVO (Respiratory Syncytial Virus Vaccine), a bivalent respiratory syncytial virus prefusion F (RSVpreF) vaccine. This was designed to prevent lower respiratory tract disease caused by the respiratory syncytial virus in people aged 60 years and older. ABRYSVO, a vaccine without adjuvant, consists of a couple of preF proteins specifically designed to strengthen immunity to RSV A and B types. Clinical evidence confirms its safety and effectiveness.
Who Are the Key Players In The Respiratory Disease Vaccine Market?
Major companies operating in the respiratory disease vaccine market are:
• Pfizer Inc.
• Johnson & Johnson Ltd.
• Merck & Co. Inc.
• Sanofi SA
• AstraZeneca PLC
• GlaxoSmithKline PLC
• Sinovac Biotech Co. Ltd.
• Moderna Inc.
• BioNTech SE
• CSL Limited
• Daiichi Sankyo Company Limited
• Mitsubishi Tanabe Pharma Corporation
• Novavax Inc.
• Emergent BioSolutions Inc.
• Seqirus
• Bio Farma
• Dynavax Technologies Corporation
• Hualan Biological Bacterin Co. Ltd.
• Serum Institute of India Pvt. Ltd.
• Bavarian Nordic A/S
• Valneva SE
• Biological E. Limited
• CanSino Biologics Inc.
• Bharat Biotech International Limited
• Medicago Inc.
• CureVac N.VIncepta Vaccine Ltd.
• Inovio Pharmaceuticals Inc.
• Ology Bioservices
• VBI Vaccines Inc.
What Are The Regional Insights Into The Respiratory Disease Vaccine Market?
Asia-Pacific was the largest region in the respiratory disease vaccine market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in respiratory diseases vaccine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
