The new report by Expert Market Research titled, United States Vaccine Market Size, Share, Price, Trends, Growth, Report and Forecast 2024-2032, gives an in-depth analysis of the United States vaccine market, assessing the market based on its segments like technology, indications, end use industry and regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2032)
- Historical Market Size (2023): USD 13.5 billion
- Forecast CAGR (2024-2032): 9.8%
Due to the presence of many infectious illnesses such as Ebola, Zika, and influenza, among others, the commencement of vaccine production utilising mRNA technology is augmenting research and development (R&D) operations.
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This tendency has been fueled by the introduction of SARS-CoV-2, which is increasing the demand for effective vaccinations to avoid morbidity and mortality. mRNA technology was used to readily adjust the sequencing of vaccines to enable their efficacy against the mutations of the novel virus as research operations to generate efficient vaccines began, which boosted market expansion.
Furthermore, prominent businesses such as Pfizer and Moderna have developed mRNA vaccines against COVID-19 infections thereby augmenting market growth.
United States Vaccine Industry Definition and Major Segments
A vaccination is a medication that allows for the suspension of dead or weakened microorganisms, hence reducing the chance of infection. One of the most efficient ways to prevent the spread of infectious illnesses is through vaccinations. It improves the quality of life by providing active immunity against illnesses.
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By Technology, the market is divided into:
- Recombinant and Conjugate Vaccine
- Inactivated Vaccines
- Live Attenuated Vaccines
- Toxoid Vaccines
- Others
By Indication, the market is divided into:
- Pneumococcal Disease
- Influenza
- Human Papilloma Virus
- Meningococcal Disease
- Rotavirus
- Varicella, Measles, Mumps, and Rubella
- Diphtheria, Pertussis, and Tetanus (DPT)
- Polio
- Hepatitis
- Others
By end use, the market is divided into:
- Paediatric Vaccine
- Adult Vaccine
- Travellers Vaccine
United States Vaccine Market by Region includes:
- New England
- Mideast
- Great Lakes
- Plains
- Southeast
- Southwest
- Rocky Mountain
- Far West
United States Vaccine Market Trends
The industry’s expansion is being aided by increased demand for vaccinations against pathogenic difficulties, diarrhoeal disorders, and parasitic enemies, among other things. As the need for baby immunisation grows in order to improve quality of life, vaccinations are increasingly used to prevent the spread of infectious illnesses among children, thereby, fueling market growth.
Furthermore, the market is expected to benefit from the development of novel vaccines that can be supplied via micro patches to allow for effective immunisation of babies.
The market is growing due to the deployment of cutting-edge technologies that allow for the rapid creation of vaccines. Advances in biotechnology and genetic engineering are expected to contribute in the production of more effective vaccinations by allowing for the precise identification of antigen structures. In addition, the increasing concerns regarding the resurgence of COVID-19 infections is projected to propel the growth of the vaccine industry in the forecast period.
Key Market Players
The major players in the market are GlaxoSmithKline plc, Merck & Co., Inc., Novartis AG, Pfizer Inc., Sanofi, AstraZeneca plc, Johnson & Johnson Services, Inc., and others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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