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According to industry estimates, the emergence of COVID-19 pandemic has changed the face of vaccines industry, as there is shift of focus on tech transfer in the industry with remarkable rise in the investment for COVID-19 vaccines development by government organizations. Funding by organizational collaborations during the pandemic have been driving the scale-up of vaccine production and engagement of stakeholders at various level with an aim of sharing the best practise of developing efficient vaccines.

In traditional vaccine industry, there is a shift from use of live attenuated or inactivated technologies to non-viral technologies, aiming to achieve increased scalability and turnaround time in vaccine development. The rising focus on prophylactic management of COVID-19 in 2021-2022 is anticipated to shift toward novel delivery modes of traditional vaccines and on highly prevalent disease areas, such as RSV, HIV, and cancer.

The purpose of this research service is to present a comprehensive analysis of the global vaccine market, which is categorized in traditional vaccines and COVID-19 vaccines. The traditional vaccine market is likely to witness a CAGR of 8.7% during 2021-2027, attributable to the growing trend for outsourcing in order to deal with the complex process of development & manufacturing of recombinant vaccines. In COVID-19 vaccine market, maximum global population will be covered by the end of year 2022, which will affect the revenue generation post 2022/mid-2023. A gamut of emerging companies are increasingly focusing on the development of new generation of vaccine platforms and delivery systems which are expected to be relevant to western as well as eastern markets alike.