Vaccine Technologies Market is Estimated to Witness High Growth Owing to Opportunity in Preventing Spread of Infectious Diseases

Vaccine Technologies Market


Vaccine technologies are responsible for manufacturing vaccines intended to boost immunity against harmful pathogens. Vaccines contain killed or weakened versions of pathogens that aid in stimulating the immune system to produce antibodies and protect against infections. Advances in vaccine technologies including nucleic acid-based platforms like DNA and messenger RNA vaccines along with viral vector-based vaccines have enabled the development of vaccines for previously untreatable diseases at a faster pace.

The global Vaccine Technologies Market is estimated to be valued at US$ 45.04 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
Preventing the spread of infectious diseases presents a major market opportunity for companies involved in vaccine technologies. According to the World Health Organization, infectious diseases account for approximately 15 million deaths annually worldwide with children under 5 years of age being the most vulnerable. Widespread immunization campaigns leveraging vaccine technologies can help avoid the emergence of epidemics by protecting populations. Increasing government initiatives to expand national immunization programs especially in developing regions along with rising healthcare expenditures are expected to drive higher demand for vaccines over the coming years. This growing need to tackle infectious diseases through vaccination worldwide offers significant growth prospects for players operating in the vaccine technologies market.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the vaccine technologies market requires huge R&D investments and clinical trial approvals from regulatory authorities which makes the entry barrier moderately high.

Bargaining power of buyers: The bargaining power of buyers is high as the market has several vaccine manufacturers and buyers can demand lower prices.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as key raw materials used in vaccine manufacturing such as adjuvants, preservatives etc have limited suppliers globally.

Threat of new substitutes: The threat of new substitutes is low as vaccines have limited substitutes and technology developments are increasing their efficacy and safety.

Competitive rivalry: The competitive rivalry is high among existing players.

SWOT Analysis
Strength: Rapid technological advancements in vaccine platform technologies such as mRNA, DNA, viral vector etc which can develop vaccines faster. Growing global burden of infectious diseases driving vaccine demand.

Weakness: High R&D costs and failure risks associated with vaccine development. Stringent regulatory approvals affecting timely availability of new vaccines.

Opportunity: Untapped opportunities in developing and underdeveloped countries. Growing pandemic preparedness worldwide after COVID-19 pandemic.

Threats: Threat from alternative treatment options. Supply chain disruptions and constraints affecting timely availability.

Key Takeaways

Global Vaccine Technologies Market Size is expected to witness high growth at a CAGR of 7.5% during the forecast period of 2023 to 2030. Rapid technological advancements are facilitating development of effective vaccines at a faster pace. The market size for Vaccine Technologies is projected to reach US$ 45.04 Bn by 2024.

Regional Analysis: North America dominates the global market currently due to presence of major vaccine players and higher healthcare spending. The Asia Pacific region is expected to grow at the fastest rate during the forecast period supported by rising healthcare investments, large population base and increasing incidence of infectious diseases.

Key players operating in the Vaccine Technologies market are Blackmores Limited, Vitaco Holdings Limited, Integria Healthcare, Bioglan, Deep Blue Health (NZ) Co. Limited, Phytomed, NZ Herbals, and Sanderson. Major players are focusing on new product launches, collaborations and acquisitions to strengthen their market position.

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