Asia Pacific Vaccine Market Outlook
According to a new report by Expert Market Research titled “Asia Pacific Vaccine Market Size, Share, Analysis, Report, Demand, Forecast 2024-2032″, the Asia Pacific vaccine market is projected to grow at a CAGR of 7.8% between 2024 and 2032. Aided by the escalating need for immunisation against prevalent infectious diseases and the region’s commitment to public health, the market is expected to grow significantly by 2032.
Vaccines, critical in promoting immunity against a plethora of infectious diseases, have become a cornerstone in the public health agenda of many Asia Pacific nations. These biological preparations, which utilise a disease-causing microorganism or its toxins, prime the immune system to combat infections. Their significance spans beyond individual health, ensuring herd immunity and curbing epidemics.
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As per the Asia Pacific vaccine market analysis, the Asia Pacific, characterised by its diverse demographics and vast population, has witnessed a surge in vaccine demand. Countries like India and China have vast immunization programs, catering to their billion-plus populations, while others like Japan and South Korea have showcased advanced research and development in novel vaccine formulations.
The burgeoning population, especially the paediatric and geriatric cohorts, has amplified the need for routine immunisations and contribute to the Asia Pacific vaccine market growth. Coupled with this is the increasing cognisance about the significance of vaccines, driven by governmental campaigns and international collaborations.
Moreover, the recent COVID-19 pandemic accentuated the urgency of vaccine research, development, and distribution. The Asia Pacific became a hub of vaccine manufacturing, with countries like India earning the moniker “Pharmacy of the World” for its vast vaccine exports which propelled the Asia Pacific vaccine market demand.
The market’s vigour is further sustained by the region’s drive to combat diseases like influenza, tuberculosis, and hepatitis. Investments in vaccine research have been notable, with biotechnology parks and innovation hubs sprouting across countries. Additionally, international collaborations, such as the partnership between GAVI, the Vaccine Alliance, and various Asian nations, have bolstered vaccine accessibility and affordability and are major contributors to the Asia Pacific vaccine market size.
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Technological innovations, such as drone deliveries for vaccines in remote areas, and digital tracking systems, are revolutionising vaccine distribution. Moreover, public-private partnerships are channelling funds, technology, and expertise to bolster the region’s vaccine arsenal.
Market Segmentation
The market can be divided based on technology, indication, end use, and country.
Market Breakup by Technology
- Recombinant and Conjugate Vaccine
- Inactivated Vaccines
- Live Attenuated Vaccines
- Toxoid Vaccines
- Others
Market Breakup by Indication
- Pneumococcal Disease
- Influenza
- Human Papilloma Virus
- Meningococcal Disease
- Rotavirus
- Varicella, Measles, Mumps, and Rubella
- Diphtheria, Pertussis, and Tetanus (DPT)
- Polio
- Hepatitis
- JE (Japanese Encephalitis) Vaccine
- Others
Market Breakup by End Use
- Paediatric Vaccine
- Adult Vaccine
- Travellers Vaccine
Market Breakup by Country
- China
- India
- Japan
- ASEAN
- Australia
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Asia Pacific vaccine market. Some of the major players explored in the report by Expert Market Research are as follows:
- CSL Limited
- Bharat Biotech
- GlaxoSmithKline plc
- Novartis AG
- Pfizer Inc.
- AstraZeneca plc.
- Others
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