The Rise of Preventive Healthcare is Driving Growth in the U.S. Vaccine Market

The Importance of  U.S. Vaccine Market plays a critical role in bolstering preventive healthcare and public health in the country. Vaccines help build immunity against life-threatening diseases like influenza, diphtheria, tetanus, pertussis, hepatitis, pneumococcal disease and others. They shield populations, especially infants, children and seniors, from the risk of epidemics. Over the years, advances in vaccine R&D and manufacturing have led to the development of combination vaccines, making vaccination more efficient.

The U.S. Vaccine Market is estimated to be valued at US$ 30 Billion in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024-2030.

Vaccine products in the U.S. Vaccine Market Share is target various disease areas including pediatric, influenza, meningococcal, cervical cancer and zoster. The market is gaining from growing awareness on immunization, healthcare reforms improving insurance coverage, an aging population susceptible to pneumonia & shingles and introduction of new vaccines.

Key Takeaways

Key players operating in the U.S. Vaccine market are Pfizer, Merck & Co, Sanofi Pasteur and GlaxoSmithKline. These players are investing heavily in R&D to develop advanced prophylactics against emerging threats. With a strong portfolio of pediatric, influenza and disease-specific products, they dominate the market.

Rising healthcare costs from treatment of infectious diseases have boosted demand for immunization in the country. As per CDC, vaccination saves nearly $295 billion annually in direct costs and $1.38 trillion in societal costs. It helps control disease spread and reduce physician visits, hospitalizations and loss of productivity.

The U.S. market also benefits from exports and international partnerships for vaccine supply. Industry players are enhancing global manufacturing and distribution networks to meet worldwide demand for routine and specialty vaccines used in immunization programs. To ensure accessibility, they are also engaged in initiatives like GAVI for equitable vaccine access.

Market Key Trends

U.S. Vaccine Market Size and Trends in focus on adult immunization is a major as preventable pneumococcal and influenza together lead to over 60,000 deaths annually in older Americans. The approval of high-dose flu shot for seniors over 65 years and the launch of new pneumococcal vaccines like Vaxneuvance by Merck are examples. Combination vaccines integrating multiple antigens are gaining traction to reduce injection-related pain and anxiety in pediatric patients. With rising non-communicable diseases, research into therapeutic vaccines for cancer, Alzheimer's and autoimmune conditions has ramped up. Industry players are also mining the potential of nucleic acid (DNA/RNA) based next-gen vaccine approaches targeting coronaviruses, influenza and others.

Porter's Analysis

Threat of new entrants: New entrants face huge capital investment requirement and stringent regulatory approvals.
Bargaining power of buyers: Buyers have more bargaining power as there are many established vaccine manufacturers.
Bargaining power of suppliers: Suppliers of raw materials for vaccines have less bargaining power due to availability of substitute raw material sources.
Threat of new substitutes: Threat of new substitutes is low as new vaccines require huge R&D investment and clinical testing.
Competitive rivalry: Intense competition exists among existing vaccine manufacturers to capture market share.

Geographical Regions

The United States represents the largest market for vaccines in terms of value. The strong presence of leading vaccine manufacturers has helped the country dominate the global vaccines market. Major pharma companies in the US continuously invest in R&D to develop new and improved vaccines.
Asia Pacific region is expected to witness the fastest growth during the forecast period owing to rising healthcare expenditure, increasing focus of international organizations on immunization, and expansion of vaccine manufacturing facilities by major companies in countries like India and China.

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About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)