Asia Pacific Preventive Vaccines Market to Hit Valuation of USD 63.11 Billion by 2032: Astute Analytica

The Asia Pacific preventive vaccine market is booming, driven by its large population, rising healthcare spending, and focus on preventive care. Government support, technological innovation, and domestic manufacturing hubs further fuel growth. Challenges remain in affordability, access, and vaccine hesitancy, but the outlook is promising for continued expansion.

New Delhi, March 18, 2024 (GLOBE NEWSWIRE) — According to the latest research by Astute Analytica, the Asia Pacific preventive vaccines market is expected to reach a valuation of US$ 63.11 billion by 2032, up from US$ 20.9 billion in 2023, at a CAGR of 13.07% during the forecast period 2024–2032.

The Asia Pacific region has established itself a powerhouse within the preventive vaccines market. With countries like India, which is known as the ‘pharmacy of the world,’ leading with significant exports (more than 140 million COVID-19 vaccine doses) and China ramping up production, it’s no wonder that India supplies over 60% of global vaccine demand. This growth has been funded by massive foreign and domestic investments, bringing South Korea and Singapore more than $3 billion for their vaccine R55&D and production facilities. And with Japan’s $1.7 billion vaccine production plant, it just goes to show how committed the region is to becoming self-sufficient in vaccines.

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With now over 60% of the world’s population living in Asia Pacific, the region consumes a significant dose of preventive vaccine. Wherein, South East Asian countries are also witnessing a strong demand for them. For instance, Vietnam (150 million doses), Thailand (90 million doses), and Philippines (85 million doses) are all placing huge orders. Apart from this, Malaysia is planning to invest $500 million into its ‘Vaccine Logistics Hub’ that will optimize distribution across ASEAN and strengthen it supply chain.

As we see an increase in production, import/export activity remains strong in the Asia Pacific preventive vaccines market. Australia’s import of more than 70 million doses, which showcases just how much countries rely on each other when needs aren’t met domestically. However, with India exporting 900 million doses and China exporting 750 million doses, it’s hard to believe that supply could ever fall short based on these two nations’ manufacturing capabilities alone! Trade agreements such as the China-ASEAN Free Trade Agreement create a dynamic trade environment that supports deals like Indonesia-South Korea’s $2 billion vaccine joint venture.

Key Findings in Asia Pacific Preventive Vaccines Market

Market Forecast (2032) US$ 63.11 billion
CAGR 13.07%
By Type Messenger RNA (mRNA) vaccines (45.9%)
By Disease Indication Viral Diseases (72.0%)
By Patient Group  Pediatric (55.0%)
By Route of Administration Intramuscular Route of Administration (72.8%)
By End User Hospitals (43.8%)
Top Trends
  • Shift Towards Preventive Healthcare
  • Increasing Government Support
  • Rise of Domestic Vaccine Manufacturers
Top Drivers
  • Large and Growing Population:
  • Growing Burden of Infectious Diseases
Top Challenges
  • Poor Cold Chain Infrastructure
  • Misinformation and concerns about vaccine safety

Preventive Vaccines Market: India and China’s Production Powerhouse

India, deservedly labeled as the “pharmacy of the world,” enjoys a whopping 3 billion doses of estimated annual vaccine production capacity. The country’s massive supply can be attributed to its well-established large-scale manufacturing expertise and commitment to cost-effectiveness. Some of India’s major vaccine makers include Serum Institute, which is known for being the largest producer in terms of volume; Bharat Biotech, which developed its own Covaxin; Biological E. Limited, praised for its wide-ranging vaccine portfolio; and Dr. Reddy’s Laboratories, a pharmaceutical company that plays a critical role in distributing Sputnik V.

China, on the other hand, is quickly turning into a vaccine production center in Asia Pacific preventive vaccines market with an annual production capacity estimated at between 5 billion and 10 billion doses. The country has invested heavily in high-tech facilities and research in order to achieve self-sufficiency while making its mark worldwide. Noteworthy vaccine makers in China are Sinopharm and Sinovac Biotech — both have largely contributed to COVID-19 vaccine development and distribution — CanSino Biologics, which specializes in innovative technologies, and Zhifei Longcom Biologic, one of the top players on the domestic market.

Viral Diseases are the Leading in Preventive Vaccines Market in Asa Pacific, Contribute over 72% Revenue

The Asia Pacific region is known for its unique challenges which make them a perfect candidate for vaccines targeting viral infections. It’s highly dense population, specifically in their urban centers, allows any sort of virus to spread like wildfire. On top of that, the tropical and subtropical climates found in many countries creates the perfect environment for insect-borne diseases like dengue fever to thrive. This along with an increasing elderly population puts them at a high risk for new viruses. A multitude of viral infections pose a severe threat to health across the region. Dengue fever is still on the rise in Southeast Asia while hepatitis B remains prevalent throughout it as well. Japanese Encephalitis poses a serious risk to children and influenza and COVID-19 takes a stab at everyone.

To fight against these viral diseases, they rely on both domestic production and imports. India’s ability to manufacture large-scale vaccines at low costs has earned it the title “pharmacy of the world.” China is quickly increasing its own production capacity hoping to be more self-sufficient rather than relying on others. Countries like Japan and South Korea are also respected for their advanced technological capabilities in vaccine production and research.

mRNA is Go-to Choice for Preventive Vaccine Development, Contribute More than 45.9% Market Revenue

The unique benefits of mRNA vaccines have increased demand, revolutionizing the Asia Pacific preventive vaccines market.  Rapid development, scalability, safety profile and proven efficacy against COVID-19 – which was then followed by full approval from the US FDA for Pfizer-BioNTech’s Comirnaty (BNT162b2) on 23 August – has driven this surge in interest.  The cost-effective and adaptable nature of mRNA technology further fuels its appeal as it can be applied to various diseases.

The success of Pfizer-BioNTech’s and Moderna’s COVID-19 vaccines clearly demonstrates these advantages. Both jabs were among the first to secure emergency use authorization (EUA), full approval from the European Medicines Agency for Pfizer-BioNTech’s Comirnaty (BNT162b2) on 21 July, and then FDA clearance for BNT162b2 on 23 August, cementing their efficacy and making them a vital weapon in the fight against Sars-CoV-2.  The potential of mRNA technology is also evident with CureVac’s CVnCoV vaccine candidate that is focused specifically on emerging infectious diseases.

Several factors drive the lucrative nature of mRNA vaccines and the significant growth projected for preventive vaccines market in Asia Pacific region: strong immune responses; rapid production time – particularly important during a pandemic; broad potential across many types of diseases; etc. Additionally, mRNA research is relatively short and cost-efficient to undertake compared with traditional drug discovery methods. Although there are challenges such as low-temperature storage requirements or difficulties targeting certain diseases – think RSV or CMV – industry experts believe sufficient research funding will continue to work at overcoming these hurdles. These companies are already working on designing new vaccines that could offer protection against malaria, HIV, tuberculosis, Zika virus disease and universal flu shots. mRNA could also transform cancer medicine altogether given that it offers a highly personalized approach to therapy that might be able to target mutated proteins more accurately.

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Positive Impact of Government Policies on Asia pacific Preventive Vaccines Market

Government policies have a major influence on the preventive vaccines market in India, China, and Southeast Asia. These policies dictate how accessible vaccines are, how much people demand it, and whether or not the public trusts them. India has one of the biggest public vaccination initiatives in the world called the Universal Immunization Programme (UIP). They give out 12 free life-saving vaccines to about 26.7 million infants and 30 million pregnant women every year. This initiative significantly drives up sales. They also have Mission Indradhanush which improves vaccination rates by targeting those who missed routine immunization sessions. To make sure all this happens without logistical or financial issues, India has established the National Health Mission (NHM).

China’s Expanded Program on Immunization (EPI) is another policy that mandates free childhood vaccinations. As a result they have high coverage rates and great control over vaccine-preventable illnesses. In addition to that law, China has passed another one called Vaccine Management Law which enhances vaccine regulation to further strengthen public confidence in vaccines.

All across Southeast Asia preventive vaccines market, there are several countries with their own immunization programs that provide free vaccines for children. GAVI is an international organization that gives these programs a lot of support too. And lastly there’s the ASEAN Vaccine Security and Self-Reliance (AVSSR) initiative which aims to boost regional cooperation in vaccine production and procurement within Southeast Asia. Funding mechanisms play an important role here as well. The UIP receives funding from central and state governments in India along with help from international organizations for certain vaccines. The EPI program in China gets funded by the government too and its own Vaccine Management Law includes provisions for funding research as well as compensating for injuries related to vaccines. Similarly, in Southeast Asia they use a combo of government budgets and international funding from GAVI to finance national immunization programs across low-income countries especially.

Asia Pacific Preventive Vaccines Market Key Players

  • Bharat Biotech
  • CanSino Biologics
  • Emergent BioSolutions Inc.
  • GlaxoSmithKline PLC
  • Novavax Inc.
  • BioNTech
  • Daiichi Sankyo Co. Ltd
  • Inovio Pharmaceuticals, Inc.
  • Moderna
  • Johnson & Johnson
  • Merck & Co.
  • Pfizer Inc.
  • Sanofi SA
  • Takeda Pharmaceutical Co. Ltd
  • Sinovac
  • Other prominent players

Key Segmentation:

By Type

  • Conjugate Vaccines
  • Inactivated Vaccines
  • Subunit and Polysaccharide Vaccines
  • Live Attenuated Vaccines
  • Messenger RNA (mRNA) Vaccines
  • Nucleic Acid Vaccines
  • Viral Vector Vaccines
  • Recombinant Vaccines
  • Toxoid Vaccines
  • Others

By Disease Indication

  • Bacterial Diseases
  • Viral Diseases

By Route of Administration

  • Intramuscular
  • Subcutaneous
  • Oral Administration
  • Intra Venous
  • Others

By Patient Group

  • Adult
  • Pediatric

By End User

  • Hospitals
  • Clinics
  • Vaccination Centers
  • Academic & Research Institutes

By Region

  • China
  • India
  • Japan
  • Australia & New Zealand
  • South Korea
  • Rest of Asia Pacific

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About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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