The global preventive vaccine market is estimated to grow at a CAGR of nearly 9.0% during the forecast period. Before the COVID-19, the major dynamic moving the market include rising per capita healthcare expenditure of the emerging economies, and increasing awareness related to the vaccine. With the increasing cases of COVID-19, the need to develop preventive vaccines increased all across the growth. A disruption in revenue of segments will be also witnessed during the forecast period. For instance, generally, most of the revenue is generated by pediatric vaccines however for the next couple of years it will be shift to adult vaccines.

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The major players operating in the market include Sanofi SA, GlaxoSmithKline PLC, CSL Ltd., Merck & Co., Inc., Pfizer Inc., Gilead Sciences, Inc., Astellas Pharma Inc., AstraZeneca plc, China National Biotec Group Company Ltd., Emergent BioSolutions Inc., Mitsubishi Tanabe Pharma Corp., Teva Pharmaceutical Industries Ltd.

Government organizations are funding and collaborating with private players to speed up vaccine development for COVID-19. For instance, the US Biomedical Advanced Research and Development Authority (BARDA) has announced to donate $483 million to Moderna Inc., a Biotech company for the development of the COVID-19 vaccine. The German government has announced to spend $812 million to develop and distribute the COVID-19 vaccine. Two-third of $812 million will be for vaccine development and the rest of the money for developing production capacity.

Generally, to develop a vaccine 10 to 15 years are required however the vaccine manufacturing companies are trying to reduce this time to 12 to 18 months. On 13th April 2020, the World Health Organization announced that there are around 70 coronavirus vaccines under development all across the globe. Out of this, three candidates already are being tested in human trials. Some of the major companies which are working significantly for the vaccine development include Pfizer Inc., GSK plc, Inovio Pharmaceuticals, Johnson & Johnson, Sanofi, and others.

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In March 2020, Pfizer Inc. partnered with BioNtech SE for the development of mRNA based COVID-19 vaccine candidate BNT-162 of BioNtech SE. The company has entered the clinical stage in Germany and the US in May 2020. In April, two major drug companies Sanofi SA and GSK plc. collaborated to develop the COVID-19 vaccine. The candidate vaccine is expected to enter clinical trial by the second half of 2020 and if approved by the government it will be available to the market by the second half of 2021.

Inovio Pharmaceuticals is one of the first companies to work on the COVID-19 vaccine. In April 2020, the company completed the first dose of vaccine in 40 healthy volunteers in the phase-I clinical stage with INO-4800 in the US. The company will complete the second round of dosing by the end of May 2020. Several other companies such as Novavax, Heat Biologics, Glenmark, Vaxart, Vir Biotechnology are working in the COVID-19 vaccine.

Global Preventive Vaccine Market- Segmentation

By Vaccine Type

Live-attenuated vaccines
Inactivated vaccines
Subunit, recombinant, polysaccharide, and conjugate vaccines
Toxoid vaccines
Other (DNA Vaccines And Recombinant Vector Vaccines)
By Patient

Pediatric
Adults
Global Preventive Vaccine Market– Segment by Region

North America

US
Canada
Europe

Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific

China
Japan
India
Rest of Asia-Pacific
Rest of the World

Latin America
The Middle East and Africa


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