Overview and Scope
Respiratory diseases refer to a wide range of conditions that affect the airways and lungs, leading to respiratory symptoms and impaired breathing. Respiratory disease vaccine refers to a type of vaccine that is an immunization designed to protect individuals from respiratory infections caused by viruses or bacteria that primarily affect the respiratory system, which includes the lungs and airways. These vaccines work by stimulating the immune system to produce antibodies that can recognize and fight the specific pathogen that causes the disease.
Sizing and Forecast
The respiratory disease vaccine market size has grown steadily in recent years. It will grow from $68.4 billion in 2023 to $69.99 billion in 2024 at a compound annual growth rate (CAGR) of 2.3%. The growth in the historic period can be attributed to rising prevalence of respiratory diseases, increased public vaccination awareness, public health initiatives, growing demand for effective and more tolerable vaccines.
The respiratory disease vaccine market size is expected to see steady growth in the next few years. It will grow to $76.18 billion in 2028 at a compound annual growth rate (CAGR) of 2.1%. The growth in the forecast period can be attributed to aging population, rising healthcare spending, investments in vaccine, pandemic preparedness. Major trends in the forecast period include innovative vaccines, collaborative research, advancement in vaccine development, drug approval.
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Segmentation & Regional Insights
The respiratory disease vaccine market covered in this report is segmented –
1) By Type: Viral Vaccine; Bacterial Vaccine; Combination Vaccine
2) By Infection: COVID-19; Influenza; Respiratory Syncytial Virus (RSV); Pneumonia; Other Infections
3) By Age: Infant; Adolescent; Adult
4) By End-User: Clinic; Hospital; Other End-Users
Asia-Pacific was the largest region in the respiratory disease vaccine market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in respiratory diseases vaccine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing incidence of tuberculosis is expected to propel the growth of the respiratory disease vaccine market going forward. Tuberculosis (TB) is a type of respiratory disease caused by the bacterium Mycobacterium tuberculosis, which primarily affects the lungs and potentially impacts other organs and systems in the body, leading to various complications. The increasing incidence of tuberculosis can catalyze efforts to develop and distribute respiratory disease vaccines to reduce the spread of tuberculosis. For instance, in October 2022, according to the Global Tuberculosis Report published by the World Health Organization, a Switzerland-based global health agency, the global incidence of tuberculosis (TB) was estimated at 10.6 million cases, with a rate of 134 cases per 100,000 population in 2021, an increase of 4.5% from 10.1 million in 2020. Therefore, the increasing incidence of tuberculosis will drive the respiratory disease vaccine market.
Key Industry Players
Major players in the respiratory disease vaccine market are Pfizer Inc., Johnson & Johnson Ltd., Merck & Co. Inc., Sanofi SA, AstraZeneca PLC, GlaxoSmithKline PLC, Sinovac Biotech Co. Ltd., Moderna Inc., BioNTech SE, CSL Limited, Daiichi Sankyo Company Limited, Mitsubishi Tanabe Pharma Corporation, Novavax Inc., Emergent BioSolutions Inc., Seqirus, Bio Farma, Dynavax Technologies Corporation, Hualan Biological Bacterin Co. Ltd., Serum Institute of India Pvt. Ltd., Bavarian Nordic A/S, Valneva SE, Biological E. Limited, CanSino Biologics Inc., Bharat Biotech International Limited, Medicago Inc., CureVac N.V., Incepta Vaccine Ltd., Inovio Pharmaceuticals Inc., Ology Bioservices, VBI Vaccines Inc.
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