Asia-Pacific Vaccines Market, By Composition (Combination Vaccines and Mono Vaccines), Type (Subunit, Recombinant, Polysaccharide, and Conjugate Vaccines, Live-Attenuated Vaccines, Inactivated Vaccines, and Toxoid Vaccines), Kind (Routine Vaccine, Recommended Vaccine, and Required Vaccine), Age of Administration (Pediatric Vaccine and Adult Vaccine), Diseases (Pneumococcal Disease, Measles, Mumps & Varicella, DPT, Hepatitis, Influenza, Typhoid, Meningococcal, Rabies, Japanese Encephalitis, Yellow Fever, and Others), Route of Administration (Injectable, Oral, and Nasal), End User (Community Hospitals, Hospitals, Specialty Centres, Clinics, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy) - Industry Trends and Forecast to 2030.
Asia-Pacific Vaccines Market Analysis and Insights
The increasing prevalence of infectious diseases, including bacterial and viral diseases, provides the market with lucrative growth. Along with this, increasing government support and launching newer vaccines are also boosting the vaccine market. Another factor boosting the vaccine market growth is increasing vaccination awareness and demand for effective COVID-19 vaccines.
The Asia-Pacific vaccines market is expected to grow in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 9.4% in the forecast period of 2023 to 2030 and is expected to reach USD 18,031.69 Million by 2030 from USD 9,048.51 million in 2022.
2023 to 2030
2021 (Customisable to 2015-2020)
Revenue in USD Million
By Composition (Combination Vaccines and Mono Vaccines), Type (Subunit, Recombinant, Polysaccharide, and Conjugate Vaccines, Live-Attenuated Vaccines, Inactivated Vaccines, and Toxoid Vaccines), Kind (Routine Vaccine, Recommended Vaccine, and Required Vaccine), Age of Administration (Pediatric Vaccine and Adult Vaccine), Diseases (Pneumococcal Disease, Measles, Mumps & Varicella, DPT, Hepatitis, Influenza, Typhoid, Meningococcal, Rabies, Japanese Encephalitis, Yellow Fever, and Others), Route of Administration (Injectable, Oral, and Nasal), End User (Community Hospitals, Hospitals, Specialty Centres, Clinics, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy)
Japan, China, Australia, India, South Korea, Singapore, Indonesia, Thailand, Malaysia, Philippines, Vietnam, and Rest of Asia-Pacific
Market Players Covered
Bharat Biotech, Biological E Limited, Bio Farma, Serum Institute of India Pvt. Ltd., Takeda Pharmaceutical Company Limited, Merck Sharp & Dohme Corp. (a subsidiary of Merck & Co., Inc.), Abbott, AstraZeneca, Sanofi, Pfizer Inc., Janssen Global Services, LLC (a subsidiary of Johnson & Johnson Services, Inc.), F. Hoffmann-La Roche Ltd, Panacea Biotec Ltd, and BAXTER VACCINES (a subsidiary of Baxter), among others
Market Definition of Asia-Pacific Vaccines Market
Vaccines are product that stimulates the individual immune system to induce immunity against a particular disease. Vaccines work on the principle of memory and recognition. When weakened or killed microbes are injected into a body, these microbes cause B cells, memory cells of the immune system, to recognize the pathogen. In the future, if the same pathogen attacks the body, it works against those. Vaccines have been discovered for infectious diseases, including pneumococcal disease, measles, mumps, rubella, hepatitis, influenza, typhoid, varicella, and rabies.
Vaccines are of two types: combination vaccines (containing different strains of the pathogen) and monovaccines (containing a single strain of the pathogen). Different kinds of vaccines have been developed based on the material extracted from the pathogen, which can be polysaccharide coat, DNA, RNA, and the whole organism, either inactivated or live.
These are the vaccines that resulted in the eradication of diseases such as polio. As per the preference and efficiency of vaccines, these can be injected via several routes of administration that can be injectable, oral, or nasal. However, the injectable route of vaccine administration is highly preferred as it induces a systemic response. Vaccination can be achieved at hospitals, community clinics, and specialty clinics, among others, by trained personnel having appropriate knowledge about vaccine administration devices.
The increasing prevalence of infectious diseases, including bacterial and viral diseases, provides the market with lucrative growth. Along with this, increasing government support and the launch of newer vaccines also boost the vaccine market. Another factor boosting the vaccine market growth is increasing vaccination awareness and demand for effective COVID-19 vaccines.
Asia-Pacific Vaccines Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
GROWTH IN THE IMMUNIZATION PROGRAMS AND CAMPAIGNS
Immunization programs and campaigns are increasing worldwide because of an increasing number of chronic diseases. As hepatitis, diphtheria, pertussis, and polio, among other infectious diseases, are prevailing in the environment, there is an urgent need to increase awareness regarding vaccination which can be achieved by launching several campaigns and programs. This has been reported that the number of immunization programs is increasing with an increase in infectious diseases. Immunization coverage is also increasing worldwide, intending to fight against debilitating diseases.
Still, around 20 million people remain unvaccinated and under-vaccinated, raising a great demand for vaccination. The prevalence of chronic diseases is increasing worldwide. Hence the need to get vaccinated is great. This signifies that a growing immunization program and the campaign are expected to grow the vaccine market.
HIGH PREVALENCE OF CHRONIC CONDITIONS SUCH AS FLU, INFECTIOUS AND VIRAL DISEASES
The prevalence of infectious diseases is increasing worldwide, and this has been seen that flu and bacterial infectious disease are surging rapidly. This increasing rate of infectious diseases has created the need for disease prevention which can be prevented by vaccination or immunization. As diseases are increasing significantly, there is an urgent need for mass vaccination. Mass vaccinations require many diseases, hence expected to provide the vaccine market with lucrative growth.
As the disease cases are increasing, the focus on mass vaccination is also increasing to prevent large population size. Many people who have not received vaccination at a younger age are immunized worldwide. So, to cater such needs, the demand for novel vaccines is increasing and hence expected to act as a driver in the Asia-Pacific vaccines market.
UNAVAILABILITY OF REGISTERED VACCINES
The strict regulatory approvals and time taking development procedures for the vaccines are some of the factors that are responsible for the unavailability of registered vaccines. The regulatory authorities find difficulties in the vaccines' assessment, licensure, control, and surveillance. The world supply of vaccines is delayed due to these regulations.
Therefore, the regulation processes and document formation of the manufacturing companies in different countries can act as a restrain and hamper the growth of the vaccines market.
STRATEGIC INITIATIVES BY THE MARKET PLAYERS
Market players adopt various strategic initiatives in the vaccines market that involve expansion, collaboration, and acquisition. These initiatives allow them to increase the company's product portfolio, leading to market expansion and enhancing the product demand among customers, which ultimately allows the market players to earn maximum revenue.
As the demand for effective and novel vaccines is increasing worldwide, these strategic initiatives taken by top market players aim at enhancing business operations and earning more profitability in the market.
Various strategic initiatives adopted by the market players allowed them to expand its root in vaccines and earn more market growth. Thus, the market players operating in vaccines are adopting several strategic initiatives expected to act as an opportunity for the vaccine market growth.
SIDE EFFECTS CAUSED BY VACCINES
The vaccine is a medical product that helps in preventing different diseases. But sometimes, side effects arise due to the use of the vaccines. Some of them are mild side effects which are redness, soreness, or swelling at the injection site. But the adverse side effects of the vaccines are rare but are life-threatening.
The life-threatening side effects can give rise to fear in the population's mind. Moreover, it impacts the credibility of vaccine manufacturers, affecting product sales. This thus suggests that side effects caused by vaccines may hamper the growth of the vaccines market.
- In October 2022, Indonesia Launched its First Home-Grown COVID-19 Vaccine. IndoVac vaccine has been developed jointly by Indonesia's state-owned pharmaceutical company Bio Farma and the Baylor College of Medicine, an independent health sciences center in Houston, Texas
- In November 2020, Merck Sharp & Dohme Corp., a Merck & Co., Inc. subsidiary, signed an agreement to acquire OncoImmune, a clinical-stage biopharmaceutical company. The OncoImmune Company is highly focused on the development of COVID-19 treatment options. Through this agreement, the company is expecting to develop new vaccine candidates
- In September 2020, Sanofi and GSK signed an agreement with the government of Canada to supply 72 million doses of COVID-19 vaccines. There is a high demand for COVID-19 vaccines, and the demand is increasing with the increasing pandemic. This agreement allowed the company to ensure future potential
Asia-Pacific Vaccines Market Scope
Asia-Pacific vaccines market is segmented into composition, type, kind, age of administration, diseases, route of administration, end user, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
- Combination vaccines
- Mono vaccines
On the basis of composition, the Asia-Pacific vaccines market is segmented into combination vaccines and monovaccines.
- Subunit, recombinant, polysaccharide and conjugate vaccines
- Live-attenuated vaccines
- Inactivated vaccines
- Toxoid vaccines
On the basis of type, the Asia-Pacific vaccines market is segmented into subunit, recombinant, polysaccharide, and conjugate vaccines, live-attenuated vaccines, inactivated vaccines, and toxoid vaccines.
- Routine vaccine
- Recommended vaccine
- Required vaccine
On the basis of kind, the Asia-Pacific vaccines market is segmented into routine vaccine, recommended vaccine, and required vaccine.
AGE OF ADMINISTRATION
- Pediatric vaccine
- Adult vaccine
On the basis of age of administration, the Asia-Pacific vaccines market is segmented into pediatric vaccine and adult vaccine
- Pneumococcal disease
- Measles, mumps & varicella
- Japanese encephalitis
- Yellow fever
On the basis of diseases, the Asia-Pacific vaccines market is segmented into pneumococcal disease, measles, mumps, and varicella, DPT, hepatitis, influenza, typhoid, meningococcal, rabies, Japanese encephalitis, yellow fever, and others.
ROUTE OF ADMINISTRATION
On the basis of route of administration, the Asia-Pacific vaccines market is segmented into injectable, oral, and nasal.
- Community hospitals
- Specialty centres
On the basis of end user, the Asia-Pacific vaccines market is segmented into community hospitals, hospitals, specialty centres, clinics, and others.
- Hospital pharmacy
- Retail pharmacy
- Online pharmacy
On the basis of distribution channel, the Asia-Pacific vaccines market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy.
Asia-Pacific Vaccines Market Regional Analysis/Insights
Asia-Pacific vaccines market is analyzed, and market size insights and trends are provided by country, composition, type, kind, age of administration, diseases, route of administration, end user, and distribution channel, as referenced above.
The countries covered in this market report are Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, and the rest of Asia-Pacific.
Japan is expected to dominate the Asia-Pacific vaccine market regarding market share and revenue and will continue to flourish its dominance during the forecast period. This is due to a rising preference for preventive health check-ups.
The country section of the report also provides individual market-impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of Global brands and their challenges faced due to competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Vaccines Market Share Analysis
The vaccines market competitive landscape provides details of a competitor. Details include company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points are only related to the companies' focus on the vaccine market.
Some of the major players operating in the Asia-Pacific vaccines market are Bharat Biotech, Biological E Limited, Bio Farma, Serum Institute of India Pvt. Ltd., Takeda Pharmaceutical Company Limited, Merck Sharp & Dohme Corp. (a subsidiary of Merck & Co., Inc.), Abbott, AstraZeneca, Sanofi, Pfizer Inc., Janssen Global Services, LLC (a subsidiary of Johnson & Johnson Services, Inc.), F. Hoffmann-La Roche Ltd, Panacea Biotec Ltd, and BAXTER VACCINES (a subsidiary of Baxter), among others.