Adult Vaccines Market Size, Share, Growth, Forecast 2030

Adult Vaccines Industry Perspective:    

The global adult vaccines market size was evaluated at $20 billion in 2022 and is slated to hit $30 billion by the end of 2030 with a CAGR of nearly 6.03% between 2023 and 2030.

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Adult Vaccines Market: Overview

Vaccination is of huge significance for public health as it helps in improving the body's immunity. Apart from this, vaccination is the main mode to prevent ailments in infants as well as children and adults to avoid mortality and illness. Furthermore, the eradication of deadly diseases can be prevented successfully through vaccination. Vaccination is an important part of public health programs globally.

According to NCBI, every year vaccine-preventable ailments cause the death of many adults in countries like the U.S. Moreover, as per CDC, adults need a vaccine for influenza each year as the vaccine is this flu vaccine is necessary for persons suffering from chronic illness, elder persons, and pregnant women. As per CDC recommendations, each adult must be inoculated with the Tdap (Tetanus, Diphtheria, and Pertussis) vaccine once for getting protection against whooping cough if the adult did not get inoculated. Furthermore, Td (tetanus, diphtheria) booster inoculation is provided every 10 years for adults. Additionally, pregnant ladies are recommended to get vaccinated through the Tdap vaccine during a time of pregnancy each time during 27 to 36 weeks of pregnancy.

Furthermore, the CDC also recommends the HPV vaccine for adults aged between 19 to 26 years which helps in offering them protection against various kinds of human papillomaviruses causing anal & cervical cancers as well as against genital warts if not vaccinated in early teens. Moreover, adults more than 50 years of age are recommended shingles vaccination, pneumococcal polysaccharide vaccine that offers protection against meningitis & other blood infections, and pneumococcal conjugate vaccine offering protection against pneumonia and pneumococcal ailment. As per NCBI, adult vaccination is also recommended for zoster, measles, hepatitis A, rubella, mumps, hepatitis B, and Haemophilus influenza B.

Key Insights

• As per the analysis shared by our research analyst, the global adult vaccines market is projected to expand annually at the annual growth rate of around 6.03% over the forecast timespan (2023-2030)
• In terms of revenue, the global adult vaccines market size was evaluated at nearly $20 billion in 2022 and is expected to reach $30 billion by 2030.
• The global adult vaccines market is anticipated to record massive growth over the forecast period owing to rising associations of the government with pharmaceutical & biopharmaceutical firms for developing novel vaccines.
• In terms of vaccine, the influenza segment is slated to register the fastest CAGR over the analysis period.
• On the basis of vaccine type, the multivalent vaccines segment is predicted to dominate the segmental surge over the forecast period.
• Region-wise, the European adult vaccines market is projected to register the highest CAGR during the assessment timeline.

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Adult Vaccines Market: Growth Factors

Rise in the spread of infectious diseases will accentuate the global market growth by 2030

The growing occurrence of contagious ailments in adults along with a rise in the initiatives taken by the government supporting vaccine development for adults will boost the global adult vaccines market trends. Furthermore, rising associations of the government with pharmaceutical & biopharmaceutical firms for developing novel vaccines will favorably leverage the growth of the market in the years ahead. Furthermore, a breakthrough in the biomedical domain is predicted to pave the way for the growth of the global market in the years ahead. In addition to this, the rise in new product launches along with collaborations between industry players and the government will promulgate the growth of the market across the globe in the ensuing years.

Moreover, approval of vaccines by government authorities in countries such as the U.S. will also promote the growth of the adult vaccines market across the globe. For instance, in May 2023, GSK plc declared that the U.S. FDA approved Arexvy, the first respiratory syncytial virus (RSV) vaccine for the adult population aged 60 and more, for preventing lower respiratory tract ailment occurring due to respiratory syncytial virus in people aged 60 years and above.

Adult Vaccines Market: Restraints

Low awareness about the benefits of adult vaccination in developing countries can put brakes on the global industry expansion

Lack of awareness about adult vaccines in emerging economies and remote areas as well as rural areas can prove detrimental to the expansion of the global adult vaccines industry. A rise in the up-front costs of the products can further retard the expansion of the global industry in the upcoming years. The absence of proficient reminder systems and implementation barriers such as the need for special refrigerators for storing adult vaccines can retard the global industry expansion.

Adult Vaccines Market: Opportunities

A high focus on increasing awareness about vaccination among adults can open new vistas of growth for the market across the globe

A large number of emerging economies are carrying out national vaccination programs to create awareness about the benefits of vaccines among the people. This, in turn, will open new growth opportunities for the global adult vaccines market. Growing government focus on preventing chronic diseases and avoiding pandemics can further increase the popularity of adult vaccination programs, thereby helping the market across the globe explore new horizons of growth in the years to come.

Adult Vaccines Market: Challenges

Lack of favorable reimbursement government policies can halt the growth of the industry globally over the forecast period

Infrastructural constraints and poor compensation related to adult vaccines witnessed in emerging economies can pose a huge challenge to the expansion of the adult vaccines industry across the globe. Apart from this, hesitancy to get vaccinated among a large adult population due to the perception that there is no need to get vaccinated to prevent the occurrence of diseases can prove to be a huge impediment to the global industry surge.

Adult Vaccines Market: Segmentation

The global adult vaccines market is sectored into vaccine, vaccine type, end-user, and region.

In vaccine terms, the global adult vaccines market is segregated into varicella, influenza, human papillomavirus, tetanus, measles, zoster, pneumococcal, and others segments. In addition to this, the influenza segment, which accumulated nearly 55% of the global market share in 2022, is projected to register the highest gains in the years ahead. The growth of the segment in the ensuing years can be credited to the growing spread of seasonal flu, an acute respiratory infection caused by the influenza virus, across the globe. For the record, seasonal flu causes nearly 4, 00,000 deaths each year occurring due to respiratory problems. As per WHO, in industrialized nations, influenza causes a large number of deaths in people aged 60 and above.

Based on the vaccine type, the global adult vaccines industry is bifurcated into monovalent vaccines and multivalent vaccines segments. In addition to this, the multivalent vaccines segment, which contributed remarkably towards the global industry share in 2022, is expected to establish global industry domination in the years to come. The segmental expansion over the assessment timespan can be due to a prominent increment in the bacterial & viral infections witnessed in Asian and Latin American countries across the globe.

On the basis of end-user, the global adult vaccines market is divided into private healthcare firms and government hospitals segments.

Adult Vaccines Market: Report Scope

Adult Vaccines Market: Regional Insights

The North American region accounts for a major share of the global market over the analysis timeline

The North American region, which accounted for over 60% of the global adult vaccines market share in 2022, is anticipated to dominate the global market revenue share over 2023-2030. The market surge in the region over the assessment timeline can be subject to a rise in the incidences of viral infections witnessed in the adult population in countries such as Canada and the U.S. As per NIH researchers, influenza vaccination prevents more than 90,000 hospitalizations among older population each year in the U.S. Reportedly, the U.S. Centers for Disease Control and Prevention (CDC) has recommended regular vaccination against Tdap & seasonal influenza for adults, herpes zoster vaccine for adults over 50 years of age, and pneumococcus vaccine for adults who are 65 years and above.

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Furthermore, the adult vaccines industry in Europe is set to register the fastest CAGR in the projected timespan. The key growth drivers of the industry in Europe include a surge in recommendations for adult vaccination by most of the EU (European Union) nations. For the record, in January 2022, nearly 29 of the 30 nations of the EU recommended a vaccine for influenza. Furthermore, 21 of the EU nations recommend vaccination for pneumonia while 19 of the EU countries recommend vaccination for tetanus. Moreover, 7 of the EU nations have recommended vaccination for herpes zoster.  

Adult Vaccines Market: Competitive Space

The global adult vaccines market profiles key players such as:

• Solvay Pharmaceuticals
• Moderna
• BioCSL (Seqirus)
• Aventis Pasteur
• Sanofi Pasteur
• Pfizer Inc.
• Merck & Co. Inc.
• GlaxoSmithKline Plc
• Novartis AG
• Johnson & Johnson
• BioNTech
• Bharat Biotech International Limited
• Zhifei
• Wyeth Vaccines
• AstraZeneca Plc
• Medimmune
• Sinovac
• Baxter International Healthcare Company
• Chiron Vaccines
• Serum Institute of India.

The global adult vaccines market is segmented as follows:

By Vaccine         

• Varicella
• Influenza
• Human Papillomavirus
• Tetanus
• Measles
• Zoster
• Pneumococcal
•  Others

By Vaccine Type

• Monovalent Vaccines
• Multivalent Vaccines

By End-User

• Private Healthcare Firms
• Government Hospitals

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa