Human Combination Vaccines Market

Human Combination Vaccines Market Size (2023 to 2028)

The worldwide human combination vaccines market is predicted to grow from USD 4.7 billion in 2023 to USD 7.29 billion by 2028, growing at a CAGR of 9.2% from 2023 to 2028.

MARKET DRIVERS:

The growing prevalence of infectious diseases worldwide majorly drives the growth of the human combination vaccines market. An estimated 32.2% of people suffer from various infectious diseases worldwide. Combination vaccines provide a convenient and efficient way to protect individuals from multiple diseases with a single administration. Combination vaccines also help to increase immunization coverage rate as they enable the healthcare provider to administer a vaccine against multiple infectious diseases. The growing prevalence of infectious diseases resulted in increasing awareness about the importance of vaccination. As the prevalence of infectious diseases rises, there is a growing emphasis on preventive healthcare measures, propelling the growth of the human combination vaccines market.

The growing pediatric population worldwide contributes to the human combination vaccines market growth. As the pediatric population grows, the overall demand for vaccination also rises. The simplification in the combination vaccines leads to better adherence to the vaccination schedule, resulting in improved immunization coverage. Combination vaccines play a vital role in improving vaccination compliance and coverage rate that ensures that a larger portion of the pediatric population is protected against preventable diseases, helping to boost global market growth.

The growing number of initiatives and collaborations from the governments of various countries to raise awareness about vaccination fuels the market’s growth rate. The governmental and public health organizations run a campaign to raise awareness and encourage vaccination that leads to increased demand for combination vaccines. Collaborative efforts can lead to increased awareness about vaccination and these initiatives emphasize the benefit of combination vaccines and enhance disease prevention. Factors such as the growing resistance of antiviral drugs and the increasing interest of manufacturers in developing novel vaccines to target a wide range of diseases propel the global market growth.

MARKET RESTRAINTS:

The unfavorable side effects associated with the combination vaccines are one of the major factors hampering the global market growth. A study at the University of Oxford revealed that when doses of AstraZeneca and Pfizer were mixed, many individuals experienced various types of side effects associated with this vaccine, such as fever, fatigue, and headache; this associated side effect led to a decline in the preference of people towards combination vaccine and which directly limits the overall growth of the market. Poor awareness among individuals and poor healthcare infrastructure and facilities in low and middle-income countries further impede global market growth.

Impact of COVID-19 on the global human combination vaccines Market:

The COVID-19 pandemic has significantly impacted the human combination vaccine market and offered more growth possibilities due to the growing necessity for developing vaccines to treat the patients affected by the novel coronavirus. Due to the urgency of the COVID-19 pandemic, there was a significant focus on developing and distributing single vaccines targeting COVID-19. The COVID-19 pandemic has brought more attention to vaccine-related issues and led to increased awareness about the importance of vaccination. Regulatory agencies have redirected resources toward handling the COVID-19 pandemic matter that potentially causes delays in the approval process for new combination vaccines. The COVID-19 pandemic has fuelled the focus on R&D activity and resulted in the innovation of the human combination vaccines market and contributed to the market growth. Likewise, the COVID-19 pandemic has shown a mixed impact on the global human combination vaccine market. However, the global market is anticipated to showcase a healthy growth rate during the forecast period.

REPORT COVERAGE:

This research report on the global human combination vaccines market has been segmented and sub-segmented based on the product type, age, combination, distribution channel & region.

Human Combination Vaccines Market – By Product Type

• Inactivated vaccines
• Live attenuated vaccines

Based on product type, the live attenuated vaccines segment is anticipated to continue to hold a major share of the worldwide market during the forecast period. These vaccines elicit a long-lasting immune response that makes them effective in providing durable protection against targeted diseases. They also offer protection just with a single dose, making them more attractive in resource-constrained settings, This vaccine allows more protection against multiple diseases in a single shot. Such benefits of live attenuated vaccines majorly drive demand for these vaccines and propel segmental growth.

The inactivated vaccines segment is expected to capture a substantial share of the worldwide market during the forecast period. Inactivated vaccines are safer because they do not contain a live organism that causes disease; this safety makes them more suitable for individuals with compromised immune systems and those who be at a higher risk of adverse reactions. These vaccines are also associated with many benefits, such as safety, stability and compatibility.

Human Combination Vaccines Market – By Age:

• Children
• Adults

Based on age, the adult segment is expected to hold a considerable share of the global market during the forecast period. The aging population led to an increased focus on adult vaccination to prevent diseases affecting older individuals. As individuals age, their immune systems may weaken and making them more susceptible to certain infections. The burden of vaccine-preventable diseases among adults highlights the need for immunization programs, which is propelling the growth of the adult segment. 

The children segment is anticipated to account for a substantial share of the global human combination vaccine market during the forecast period.  

Human Combination Vaccines Market – By Combination Type:

• DTaP/IPV/Hep B
• DTaP/Hib/IPV
• MMR II
• Hep B-Hib
• Others

Based on combination type, the DTaP/ IPV/Hep B segment is estimated to account for a major share of the worldwide market during the forecast period. DTaP/IPV combination vaccines offer comprehensive protection against multiple diseases in a single shot. This simplification enhances patient compliance, particularly in the pediatric population and this vaccination also reduces the need for multiple healthcare visits, which is one of the major factors propelling the growth of the DTaP/IPV/Hep B segment in the worldwide market.

The MMR II segment is anticipated to account for a considerable share of the global market during the projected period. MMR II vaccine offers significant convenience in a single shot and reduces the number of individual injections needed. Ongoing R&D efforts improve vaccine formulation and enhance efficacy and reduce potential adverse effects. Such factors are contributing to the growth of the MMR II segment in the global market.

Human Combination Vaccines Market – By Distribution Channel:

• Hospital Pharmacies
• Retailer Pharmacies
• Online Pharmacies

Based on the distribution channel, the online pharmacies segment is expected to account for a substantial share of the worldwide market during the forecast period. On the other hand, the hospital pharmacies segment is anticipated to capture a promising share of the global market in the coming years.

Human Combination Vaccines Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin-America
• Middle East and Africa 

North America is anticipated to hold a major share of the global market during the forecast period. The presence of a well-established healthcare infrastructure that helps to facilitate the distribution and monitoring of combination vaccines that support efficient immunization and contribute to higher vaccine uptake is one of the key factors driving the growth of the North American market. The robust national immunization programs and an increasing number of initiatives from the governments of the U.S. and Canada further drive the demand for combination vaccines in the North American region and propel the regional market. The prevalence of health insurance coverage ensures a significant portion of the population can access vaccines and that enhances the accessibility of combination vaccines and contributes to the North American combination vaccines market growth. 

Europe was the second-largest regional market for combination vaccines in 2022 and is expected to grow at a healthy CAGR during the forecast period. Many European countries have established national immunization programs that recommend certain vaccines, Universal healthcare coverage in European countries ensures that a significant portion of the population can access vaccines without facing financial barriers. The growing aging population and increased emphasis on adult vaccination to prevent diseases across Europe further boost the European market growth.

The Asia-Pacific combination vaccines market is expected to showcase a promising CAGR in the worldwide market during the forecast period. APAC region has 60% of the population worldwide, and the growing population across the APAC region is one of the major factors propelling the demand for combination vaccines in the APAC region. Many countries in the Asia-Pacific region have implemented national immunization programs that promote the use of combination vaccines to protect the population against multiple diseases efficiently. The support and initiatives from the governments of APAC countries fuel the vaccine adoption and favor regional market growth. 

Latin America and the Middle East and Africa are expected to show lucrative growth in the global human combination vaccines market in the coming years.

KEY MARKET PLAYERS:

Sanofi, Pfizer Inc., Cadila Healthcare Ltd., GlaxoSmithKline Plc, CSL Ltd., Mitsubishi Tanabe Pharma Corp., DAIICHI SANKYO COMPANY, LIMITED, Merck & Co., Crunchbase Inc., Mass Biologics, Meiji Holdings Co. Ltd, Serum Institute of India Moderna, AstraZeneca, Influvac, Biological, PaxVax Corporation, Emergent Bio Solutions Inc., CNBG, Takeda Pharmaceutical Co. Ltd., and NPS MedicineWise are some of the noteworthy companies in the global combination vaccines market.

RECENT DEVELOPMENT IN THE MARKET:

• In March 2022, Ahead of Annual Vaccines Day, Moderna Inc. (NASDAQ: MRNA) added two additional development programs to its mRNA pipeline, expanding on the success of Spikevax, its COVID-19 vaccine.
• In July 2023, for its protein-based COVID-19 vaccine, Nuvaxovid (NVX-CoV2373), Novavax NVAX announced that the European Commission had awarded full marketing clearance in the European Union (EU). For those above the age of 12, the vaccination is licensed as a primary series, and for those over the age of 18, it is approved as a booster.