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How Much Will The Adult Vaccines Market Be Worth By 2029?
The size of the adult vaccines market has witnessed robust growth in the recent past. It’s projected to increase from $22.82 billion in 2024 to $24.21 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.1%. The historical growth can be attributed to factors such as an escalating older population, government-supported vaccination initiatives, heightening awareness of preventive health care, advancements in vaccine development and innovation, and extensive public health campaigns.
In the coming years, the market size for adult vaccines is forecasted to undergo substantial growth. It is projected to expand to “$34.19 billion in 2029” with a compound annual growth rate (CAGR) of 9.0%. This expected surge within the forecasted timeframe can be associated with the emergence of new infectious diseases, enhanced focus on immunization records, the looming risk of antimicrobial resistance, international initiatives for pandemic readiness, the shift towards personalized vaccines, and a heightened emphasis on maternal immunization. The forecast period will be characterized by key trends such as integration of digital health, advancements in vaccine production technology, collaboration between governments and pharmaceutical corporations, leaps in vaccine delivery technology, and the growth of immunization programs.
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Which Demand Drivers Are Strengthening The Adult Vaccines Market?
The escalating occurrence of infections that can easily spread from one individual to another is serving as a catalyst for the expansion of the adult vaccine market. Vaccines are a potent tool in the medical world for battling these infectious diseases, as they enable individuals to build immunity against them. To illustrate, records from the Centers for Disease Control and Prevention, a renowned public health body in the United States, indicate that the cases of tuberculosis rose to 8,300 in 2022, showing an elevated count from 7,874 in 2021. The TB incidence rate notably made a minor jump in 2022, reaching 2.5 per 100,000 persons from 2.4 in the previous year. Thus, this rising trend of communicable diseases is driving the upsurge in the adult vaccine market.
How Is The Adult Vaccines Market Organized By Different Segments?
The adult vaccines market covered in this report is segmented –
1) By Vaccine Type: Monovalent, Multivalent
2) By Technology: Live Attenuated Vaccines, Inactivated Viral Or Bacterial Vaccines, Toxoid Vaccines, Recombinant Vaccines, Conjugate Vaccines
3) By Application: Influenza, DPT, Human Papillomavirus, Zoster, Pneumococcal, Hepatitis
4) By End Users: Healthcare Firms, Hospitals
Subsegments:
1) By Monovalent: Single Antigen Vaccines, Specific Disease Vaccines
2) By Multivalent: Combination Vaccines, Multi-Antigen Vaccines
What Current And Upcoming Trends Are Shaping The Adult Vaccines Market?
Innovations in products are trending and growing increasingly popular in the adult vaccines market. Prominent market players are unveiling new and unique products to maintain their market standing. For example, GSK, a biopharmaceutical company from the UK, and IQVIA, an Indian global provider of sophisticated analytics, technological solutions, and clinical research services, rolled out Vaccine Track in August 2022. This platform is designed to monitor data trends and improve adult vaccination across various communities. This tool will regularly supply pertinent data on trends that need attention, further augmenting public health initiatives.
Who Are The Global Leaders Steering The Adult Vaccines Market Forward?
Major companies operating in the adult vaccines market include GlaxoSmithKline PLC, Merck & Co, Sanofi Pasteur, Pfizer Inc, Commonwealth Serum Laboratories Limited, Johnson & Johnson, Serum Institute of India, AstraZeneca PLC, Novartis AG, Protein Sciences Corporation, Emergent BioSolutions Inc., Bavarian Nordic A/S, Dynavax Technologies Corporation, Novavax Inc, Medimmune LLC, BioNTech SE, Moderna, Inovio Pharmaceuticals, Sinovac, Valneva Se, Biological E Limited, Panacea Biotec, Shenzhen Kangtai Biological Products, Beijing Tiantan Biological Products, Hualan Biological Engineering, Chengdu Institute of Biological Products, Bharat Biotech International Limited, Takeda Pharmaceutical Company Limited
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How Do Regional Dynamics Influence The Adult Vaccines Market Performance?
North America was the largest region in the adult vaccines market in 2024. Asia-Pacific is expected to be the fastest-growing region in the adult vaccines market during the forecast period. The regions covered in the adult vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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