The vaccine market is predicted to reach US$49.27 billion by 2022 from US$34.30 billion in 2017 at a CAGR of 7.5% during (2017-2022) owing to higher incidence of diseases, increasing government and non-government funding for vaccine development, and more investments by companies such as GlaxoSmithKline, Pfizer and Merck & Co.

The vaccine market is predicted to reach US$49.27 billion by 2022 at a CAGR of 7.5% during (2017-2022).

In 2017, North America is expected to account for the largest share of the market followed by Europe. However, Asia is expected to register the highest CAGR during the forecast period. The high growth in this segment is attributed to the increasing investments by companies in India and China, rising disposable income, growing number of awareness programmes and symposia, and growing venture capital investments.

By technology, the vaccines market is segmented into conjugate vaccines, inactivated and sub-unit vaccines live attenuated vaccines, recombinant vaccines, and toxoid vaccines. The conjugate vaccines are expected to dominate the market during the forecast period. The conjugate segment is expected to hold the largest share of the market in 2017 and is also projected to register the highest CAGR during the forecast period. Rising prevalence of diseases and increasing government investments are the key factors driving the growth of this segment.

The vaccines market is highly competitive with the presence of various players. Some of the major players operating in the market are GlaxoSmithKline, plc (UK), Pfizer, Inc. (US), Merck & Co., Inc. (US), Sanofi Pasteur SA (France), Astellas Pharma Inc. (Japan), CSL Limited (Australia), Emergent BioSolutions, Inc. (US), Johnson & Johnson (US), MedImmune, LLC (US), Serum Institute of India Pvt. Ltd. (India), Bavarian Nordic (Denmark), Mitsubishi Tanabe Pharma Corporation (Japan), Daiichi Sankyo (Japan), Protein Sciences Corporation (US), and Panacea Biotec (India).

Based on type, the vaccines market is segmented into monovalent vaccines and multivalent vaccines. The monovalent segment is expected to dominate this market with the largest share due to increasing investments by companies to develop new vaccines.

Based on the disease indication, the vaccines market is divided into pneumococcal disease, influenza, DTP, hepatitis, human papilloma virus (HPV), rotavirus, meningococcal disease, MMR (measles, mumps, and rubella), varicella, polio, dengue, and other disease indications. The pneumococcal part is expected to take up the largest share and is projected to be the highest rate during the forecast period. The growth of this part is mainly because increasing government investments in pneumococcal vaccination programmes and rising prevelance of pneumococcal disease.