Adult Vaccine Market Analysis: Trends, Growth Drivers, and Forecast (2024-2032)
The global Adult Vaccine Market, valued at USD 20.59 billion in 2023, is expected to grow to USD 35.87 billion by 2032, representing a compound annual growth rate (CAGR) of 6.36% from 2024 to 2032. The increasing prevalence of infectious diseases such as pneumonia, influenza, and COVID-19 among adults, combined with heightened awareness of the importance of adult vaccinations, is fueling this growth. Initiatives by governments and nonprofits to promote immunization are also key factors driving market expansion.
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Adult Vaccine Market Overview
Adult vaccines are immunizations administered to individuals aged 18 years and older to prevent infectious diseases and reduce the risk of severe illness and transmission. These vaccines can be administered as booster doses or initial shots to maintain immunity against diseases previously vaccinated for in childhood. Common adult vaccines include those for influenza, pneumonia, tetanus, diphtheria, pertussis, shingles, hepatitis A and B, human papillomavirus (HPV), and measles.
The CDC recommends annual influenza vaccinations, particularly for high-risk groups like the elderly, pregnant women, and people with chronic conditions. Booster shots for pertussis, tetanus, and diphtheria are also recommended for adults, typically every 10 years.
Growth Factors in the Adult Vaccine Industry
- Rising Prevalence of Adult Diseases: As the global population ages, the incidence of age-related diseases like pneumonia, shingles, and hepatitis is increasing. This trend, along with the rising number of people with chronic conditions such as obesity and diabetes, necessitates more frequent adult vaccinations.
- Infectious Disease Transmission: The increasing spread of infectious diseases among adults, including seasonal influenza and COVID-19, has heightened the need for vaccinations. Governments and pharmaceutical companies are collaborating to develop and distribute vaccines more widely, further driving market growth.
- Technological Advancements: Innovations in vaccine development and the approval of new vaccines by regulatory bodies such as the U.S. FDA are opening up new opportunities for market growth. For instance, GSK's approval of Arexvy, the first RSV vaccine for adults aged 60 and older, is a significant step forward in adult immunization.
North America Adult Vaccine Market Overview
North America holds the largest share of the global adult vaccine market. The increasing rates of adult viral infections in the United States and Canada have highlighted the crucial role of vaccination in public health. Annual vaccinations, including those for influenza, pneumococcal disease, and herpes zoster, are regularly recommended by health authorities such as the CDC.
The impact of vaccines in reducing healthcare costs is significant. For example, the influenza vaccine alone is credited with preventing over 90,000 hospitalizations annually in older adults in the U.S.
Key Market Players
Several major companies dominate the global adult vaccine market, including:
- GlaxoSmithKline, plc.
- AstraZeneca plc
- Sanofi Pasteur
- Pfizer, Inc.
- CSL Limited
These companies are actively involved in the development, production, and distribution of vaccines worldwide. They are also involved in strategic collaborations and partnerships to expand their market reach.
Recent Market Developments
- Merck: In April 2024, Merck presented results from the Phase 3 STRIDE-10 trial, evaluating the safety and efficacy of V116, a 21-valent pneumococcal conjugate vaccine for adults aged 50 and older.
- Pfizer: The WHO’s Strategic Advisory Group of Experts on Immunization (SAGE) issued interim recommendations for the use of Pfizer-BioNTech’s COVID-19 vaccine, which remains a critical part of adult vaccination efforts globally.
Related Report:
Global Influenza Vaccine Market
Market Breakdown by Disease and Region
The global adult vaccine market is segmented by disease type and region:
Disease-wise Market Segments:
- Influenza
- HPV (Cervical Cancer)
- Shingles (Zoster)
- MMR (Measles, Mumps, Rubella)
- Pneumococcal
- Hepatitis
- Tdap (Tetanus, Diphtheria, Pertussis)
- Meningococcal
- Travel and Miscellaneous
- Varicella (Chickenpox)
Regional Market Segments:
- North America: United States, Canada
- Europe: United Kingdom, Germany, France, Italy, Spain, Russia
- Asia Pacific: India, China, Japan, Australia, South Korea
- Latin America: Brazil, Mexico, Argentina
- Middle East & Africa: Saudi Arabia, UAE, South Africa
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