Global Respiratory Disease Vaccine Market is valued approximately USD 92.23 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 1.21% over the forecast period 2023-2030. Respiratory diseases affect the respiratory system, which includes the organs involved in breathing. The respiratory system is responsible for the intake of oxygen and the elimination of carbon dioxide from the body. Various conditions can disrupt the normal functioning of the respiratory system, leading to respiratory diseases. The Respiratory Disease Vaccine market is expanding because of factors such as the rising prevalence of respiratory disorders and increasing research and development activities for vaccine development.
The rising prevalence of various respiratory diseases such as Asthma, Pneumonia, Tuberculosis, and more is driving the market growth. For instance, the World Health Organization’s (WHO) Global Tuberculosis Report 2021 states that in October 2021, most tuberculosis cases were discovered in South-East Asia (43%), Africa (25%), and the Western Pacific (18%), while fewer cases were discovered in the Eastern Mediterranean (8.3%), and Europe (2.3%). Additionally, according to statistics released by the World Health Organization (WHO), around 10 million individuals worldwide contracted tuberculosis in 2020, and roughly 1.5 million people died as a result of the disease in October 2021. Moreover, according to Statista in the year 2015, the Number of cases of asthma in senior citizens across India stood at 9 million which increased to 10.7 million in the year 2020, and it is projected to reach 25.4 million by the year 2050. Thus, the rising prevalence of respiratory diseases across the growth is driving the market growth. In addition, increasing government support for vaccine development activities and a rising number of awareness programs is creating a lucrative opportunity to market growth. However, the high cost involved with research and development of respiratory disease vaccines stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Respiratory Disease Vaccine Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the availability of advanced healthcare technologies for vaccine development, rising number of research and development programs, rising investment by public and private companies, and rising healthcare expenditure. Whereas, Asia Pacific is projected to register significant growth owing to factors such as the rising prevalence of targeted diseases, rising healthcare expenditure, and rising government initiatives to promote vaccine development in the region.
Major market player included in this report are:
Johnson & Johnson Services, Inc.
Serum Institute of India Pvt. Ltd.
Sinovac Biotech Ltd
Bavarian Nordic A/S
Merck & Co., Inc.
Emergent BioSolutions Inc
Recent Developments in the Market:
Ø In February 2022, Moderna, Inc. declared plans to expand its footprint in the region by creating new companies in Taiwan, Malaysia, Singapore, Hong Kong, and Taiwan in order to scale up the manufacture and distribution of mRNA and the COVID-9 vaccine.
Ø In May 2023, The US Food and Drug Administration (FDA) approved Arexvy (the respiratory syncytial virus vaccine, adjuvanted) for use in people 60 years of age and older to prevent lower respiratory tract disease (LRTD) brought on by the respiratory syncytial virus (RSV).
Global Respiratory Disease Vaccine Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Age Group, Infection, Distribution Channel, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Age Group:
Respiratory Syncytial Virus (RSV)
By Distribution Channel:
Hospital & Retail Pharmacies
Middle East & Africa
Rest of Middle East & Africa