Inactivated Vaccine Market Size, Share, Growth, and Industry Analysis by Type (Children Inactivated Vaccine, Adult Inactivated Vaccine), by Application (Hospital, Medical Center), and Regional Forecast From 2024 To 2031

Updated On: 15 April 2024

Inactivated Vaccine Market Report Overview

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The global inactivated vaccine market size was USD 6208.7 million in 2023. As per our research, the market is expected to reach USD 8050 million in 2031, exhibiting a CAGR of 3.3 % during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with inactivated vaccine market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

Inactivated vaccines are grown in controlled culture conditions and are killed to decrease their infectivity. Inactivated vaccines are viruses or bacteria that are first refined and then inactivated with heat or chemicals. It may comprise of whole viruses or bacteria or they may comprise of fragments that split together to form a cleaved vaccine. They are also acknowledged as killed vaccines which are composed of pathogens or their constituents that have been rendered non-infectious through physical or chemical processes. It is created by killing the disease-causing bacteria or infections using methods such as heat, chemicals, or radiation. Growing health consciousness and government efforts to support vaccination, technological developments and infrastructure improvements in the healthcare system, augmented importance on research studies and cooperation among several top research facilities in the field to find a new approach to improve vaccines are all contributing to the market progression. Government is trying wide vaccination exposure so surging demand for vaccines. Moreover this, rising research and development motivates to develop novel vaccines is also impacting the growth of this market in a positive way. Promptly growing technology has an intense impact on vaccine market trend. Growing worries about rising cases of various infectious disease and positive attitudes towards vaccines may considerably upsurge the vaccine industry during the forecast period. Lack of awareness and poor healthcare infrastructure across developing regions have depleted the market. Leading players are constantly advancing in research and development. The inactivated vaccines market is expected witness high growth during the forecast period. The market players from vaccines market are anticipated to have lucrative growth opportunities in future due to high demand for vaccines.  Rising incidence of infectious diseases in the country has become a crucial factor in boosting the market growth. Inactivated vaccines are not intensely influenced by antibodies in the mass body, compared to live vaccines. Inactivated vaccines cannot reproduce and always require repeated doses for immunity to be accomplished. Rapidly growing population and rising health awareness among people in the country are making a favourable environment for the growth of vaccine market.

COVID-19 Impact:  Pandemic hampered the market due to unexpected disruption in the sector

COVID-19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID-19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic.

Latest Trends

"Use of innovative products to boost the market growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

Inactivated Vaccine Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into children inactivated vaccine, adult inactivated vaccine.

Children inactivated vaccine capture the maximum market share through forecast period.

• By Application Analysis

According to application, the market can be segmented into hospital, medical center.

Inactivated vaccine market players cover segment as hospital will dominate the market share during forecast period.

Driving Factors

"Increase in demand to boost the market growth"

Growing incidence of several viral and bacterial diseases universally have augmented the demand for vaccines which in turn will boost the inactivated vaccines market growth.  Increasing incidence of several viral and bacterial diseases has increased the demand of vaccine. 

"Technological advancement and development to upsurge the market."

Technological advancements and innovation are expected to provide new profitable opportunities leading to the augmenting growth opportunity which will upsurge the market progression. WHO and governments approving and recommending the use of inactivated vaccines have led to several new product launches by the companies. 

Restraining Factors

"High cost to hamper the market growth"

High cost is hampering the market of inactivated vaccine. Investment cost required for the industry is not affordable for smaller companies. Also managing the vaccine needs qualified health specialists as well as hygienic injection tools and measures. These vaccines comprise massive spending and the cost is also high and thus individuals in the emerging and underdeveloped countries cannot implement for the vaccines. 

Inactivated Vaccine Market Regional Insights

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"North America to dominate the region due to technological development"

North America is further expected to witness growth in the inactivated vaccine market share. The region is dominating the market due to due to high incidence cases of infectious diseases and number of generic drugs. Encouraging government support towards the growth of healthcare sector is also likely to speed up the growth of vaccine income in this region. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities are projected to upsurge the growth. This region signifies strong growth opportunities seeing the existence of large multinational companies and also the number of deliberate partnerships.

Key Industry Players

"Key players focus on partnerships to gain competitive advantage."

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• Astellas Pharma (Japan)
• CSL Limited (Australia)
• Emergent BioSolutions (U.S.)
• GlaxoSmithKline (U.K.)
• Johnson & Johnson (U.S.)

Report Coverage

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.