Vaccines market is estimated to grow with a CAGR of 6.5% from 2019-2027

The vaccines market is highly competitive in nature with considerable number of players, having a high level of consolidation overall revenue share. Most of the companies operating in the vaccines market are present globally and have wide distribution and sales network through partnerships or authorized dealers.

The most notable vaccines market participants are PFIZER INC, GlaxoSmithKline plc, Merck & Co., Inc., Sanofi, Johnson & Johnson Services, Inc, Panacea Biotec Limited, Astellas Pharma Inc., NOVAVAX, INC., VBI Vaccines Inc, and Bavarian Nordic occupying a considerable share of the market owing to their offerings to the market.

Market leaders are involved in extensive research for the development of new vaccines and therapeutics with better efficiency and treatment outcomes. For instance, in December 2018, The U.S. Food and Drug Administration (FDA) has approved a combination “diphtheria-tetanus-pertussis-hepatitis B-poliomyelitis-invasive haemophilus influenza type B disease” vaccine developed by Merck and Sanofi in partnership.

Many well-known as well as small local companies are present in the market to provide diversified products to its customers. The larger firms are adopting the strategy of acquiring small firms to enhance its product portfolio and expand its footprint in different geographies. Additionally various companies are also undergoing other strategic alliances such as collaborations and others to garner their significance and remain competitive in the market. Few on the important key developments from the industry are mentioned below:

Year News Region
2019 Merck, known as MSD outside of the United States and Canada, announced that V114, the company’s investigational 15-valent pneumococcal conjugate vaccine, has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration (FDA) for the prevention of invasive pneumococcal disease (IPD). The Breakthrough Therapy Designation is an FDA program designed to expedite the development and review of drugs intended for serious or life-threatening conditions. North America
2018 The European Commission has granted marketing authorization for Dengvaxia, Sanofi’s dengue vaccine. The marketing authorization follows the October 18, 2018, recommendation by the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) to approve use of the dengue vaccine in European endemic areas. Europe
2017 Astellas has signed a collaboration agreement with the Institute of Medical Science, the University of Tokyo, Chiba University and environmental control equipment maker Asahi Kogyosha aiming at the practical application of the rice-based oral vaccine “MucoRice-CTB.” Asia Pacific

 

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