Adult Vaccine Market Size, Share & Trends Analysis Report By Type (Monovalent, Multivalent), By Technology, By Distribution Channel, By Indication, By Region, And Segment Forecasts, 2023 To 2030

The growth of the adult vaccine market is attributed to rising demand for better healthcare infrastructure and the high degree of public awareness about the advantages of immunizations. Governments all throughout the world are working to guarantee that everyone in society, regardless of social or economic class, has access to immunizations. This strategy intends to increase the frequency of regular immunizations in order to reduce the spread of communicable diseases through periodic evaluations of the progress made in relation to the national vaccine coverage target targets that have been successfully attained.

Government and non-government organisations are playing important role in boosting the market growth. For instance, on October 2022, GSK announced positive result for their Phase 3 trail, against RSV-lower respiratory tract disease (LRTD) in adult aged 60 years and above. The UNICEF and WHO have released guidelines on creating a national immunisation plan, the comprehensive Multi-Year Plan (cMYP) for all countries around the world, which aims to ensure equitable access to vaccination facilities for all people and increase participation od different countries in achieving vaccination coverage targets by designing and implementing workable financial strategies to assess current and future programme costs that increase the accommodativeness of immunisation.

The adult vaccine market is segmented based on type, indication, technology, distribution channel. Among the type segment, monovalent vaccine held the largest share in the market. Factors such as rising penetration of emerging diseases has led to rising initiatives foe immunization against particular infectios diseases such as COVID-19 and furthermore, growing investment in the R&D is further expectd to boost the segment growth.

North America dominated the adult vaccine market and is expected to grow with a lucarative growth over the forecast period. The primary factors highlighting the market expansion in this region are the increasing government funding for vaccine development and the numerous industry investments made in research & development. Also, the region's well-established healthcare facilities and infrastructure are significant drivers behind the development of this industry. Furthermore, COVID-19 further boosted the market growth within the region. For instance, in November 2022, U.S. Department of Health & Human Services announced USD 350 Million initiative to increase COVID-19 vaccinations.

Adult Vaccine Market Segmentation

Key players operating in the adult vaccine market include GSK plc., Sanofi, Pfizer Inc., CSL Limited, Serum Institute of India Pvt. Ltd., Johnson & Johnson Services, Inc., AstraZeneca, Bharat Biotech, Indian Immunologicals Ltd., Biological E Limited. Key players are expanding their product availability by introducing their products in overseas countries to increase their market share over the forecast period. For instance, in October 2023, GSK announced the positive result of their ZOSTER-049 extension study presenting that their overall Shingrix (Zoster Vaccine Recombinant, Adjuvanted) can provide at least 10 years of protection against shingles (herpes zoster) after initial vaccination. The company is planing to bring Shingrix to India by 2023.