by 
The global adult vaccines market primarily involves vaccination products that help prevent various infectious diseases among adults. These immunization products function by triggering the immune system to produce antibodies that combat pathogens like viruses and bacteria. Adults working in healthcare, travel or other high-exposure sectors are recommended to get vaccinated against infectious diseases like influenza, pneumococcal disease, tetanus-diphtheria, human papillomavirus and pertussis. The growing prevalence of communicable illnesses due to lifestyle changes, weakening immunity with age and emerging epidemic outbreaks has increased the need for immunization in later stages of life. Additionally, ongoing research for expanding protection against new strains of existing pathogens and novel infectious agents is also bolstering demand for adult vaccines.
The global Adult Vaccines Market is estimated to be valued at US$ 16,790.11 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends witnessed in the global adult vaccines market has been an ongoing research focus on advancing new combination vaccines that offer protection against multiple diseases through a single immunization. For instance, researchers are working towards developing combination inoculations targeting pneumococcal disease along with tetanus-diphtheria or influenza. Such efforts are actively supported with generous funding from various public and private sector organizations. This is expected to help improve vaccination rates while minimizing the logistical challenges and costs associated with administering separate doses. Another significant trend is the integration of adult vaccination services with other healthcare checkups to leverage existing infrastructure and create awareness around ongoing immunization needs at different life stages. This may help address the current pandemic-led immunization gaps for various diseases.
Porter’s Analysis
Threat of new entrants: The adult vaccines market has high regulatory barriers to entry as the development and manufacturing of vaccines require large capital investments as well as approval from regulatory bodies.
Bargaining power of buyers: Individual consumers have low bargaining power as they have little influence over prices due to inelastic demand for adult vaccines that prevent life-threatening diseases. However, large organizations procure vaccines in bulk have higher negotiating power.
Bargaining power of suppliers: A few large pharmaceutical players having proprietary vaccine technologies dominates the supply side. However, the availability of alternative treatment options provides some bargaining power to buyers.
Threat of new substitutes: The development of new substitute vaccines poses a threat to existing vaccines. However, technological advances help expand the market by introducing new vaccines.
Competitive rivalry: The market is highly competitive with major players competing on product differentiation, pricing, and marketing. Collaboration is also common to accelerate development and commercialization.
Key Takeaways
The global Adult Vaccines Market is estimated to be valued at US$ 16,790.11 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030.
Regional analysis comprises
North America will continue to hold major share of the global adult vaccines market supported by strong vaccination policies and immunization programs. However, Asia Pacific market is poised to expand rapidly during the forecast period. This is attributed to factors such as improving healthcare infrastructure, rising disposable incomes, growing awareness about vaccines, and government initiatives to strengthen immunization programs especially in large countries such as China and India.
Key players related content comprises
Key players operating in the adult vaccines market are GlaxoSmithKline Plc, Merck & Co., Sanofi Pasteur, Pfizer Inc., CSL Limited, Johnson & Johnson, Serum Institute of India, Medimmune, and AstraZeneca Plc. Collaboration between players is also prevalent to leverage complementary capabilities and accelerate development of new vaccines.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
