Market Scenario
Asia Pacific Preventive Vaccines Market was valued at US$ 20.9 billion in 2023 and is projected to surpass the market valuation of US$ 63.11 billion by 2032 at a CAGR of 13.07% during the forecast period 2024–2032.
The Asia Pacific region has solidified its reputation as a burgeoning hub for the preventive vaccines market, with several countries ramping up their efforts to ensure healthcare security and broadening their industrial prowess. The market growth has been marked by significant expansion. For instance, India, already dubbed the 'pharmacy of the world', exported over 140 million doses of covid-19 vaccines until May 2022, with China following closely. As per the latest data published by WHO, India produces and supplies over 60% of the global vaccine demand. This production surge has been catalyzed by investments, both domestic and foreign. Notably, South Korea and Singapore have collectively attracted over $3 billion in the past two years for vaccine R&D and production facilities. Moreover, Japan's recent initiation of a $1.7 billion vaccine production plant stands testament to the proactive role governments are playing to ensure domestic vaccine security and also capture a piece of the lucrative export market.
As home to over 60% of the global population, the demand for vaccines in the Asia Pacific preventive vaccines market is undeniable. In 2022 alone, Vietnam ordered 150 million doses, Thailand secured 90 million doses, and the Philippines procured 85 million doses to bolster their national vaccination campaigns. However, managing such voluminous demand necessitates an efficient supply chain. Malaysia has recently unveiled its $500 million 'Vaccine Logistics Hub', aiming to streamline vaccine distribution not just domestically but across the ASEAN region. Furthermore, with the recent establishment of the Asia-Pacific Vaccine Access Facility (AP-VAFF) that pools resources to assist member countries in procurement and distribution, value chain optimization is anticipated to touch new heights.
While Asia Pacific nations are ramping up their production capacities, import and export activities are also seeing robust growth. For instance, Australia, despite its growing domestic production capabilities, imported over 70 million doses in 2022, underscoring the interdependence of nations in this arena. Conversely, India and China, capitalizing on their manufacturing might, exported 900 million and 750 million doses respectively, predominantly to African and Latin American nations. Furthermore, initiatives such as the China-ASEAN Free Trade Agreement have reduced tariffs on biotech products, including vaccines, fostering more vibrant trade dynamics. On the collaborative front, the recently inked $2 billion vaccine joint venture between Indonesia and South Korea emphasizes the spirit of regional synergy.
Governments are unmistakably at the forefront of this market's expansion. The Australian government's AU$18 billion Vaccine Strategy, Thailand's $2.16 billion vaccine procurement and distribution program, and China's commitment to invest $4 billion in next-gen vaccine research over the next five years are emblematic of this trend. These projects, combined with private sector enthusiasm, paint a bright future for the preventive vaccines market in the Asia Pacific. By 2025, it is projected that the region will account for over 80% of the global vaccine production, solidifying its central role in global health security. With countries vying to bolster their healthcare infrastructure, coupled with public-private partnerships and regional collaborations, the Asia Pacific market is poised for unprecedented growth in the coming years.
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Market Dynamics
Driver: Rising Urbanization and Vaccine Accessibility
The sheer pace of urbanization in the Asia Pacific region has significantly influenced the preventive vaccines market, acting as a compelling driver for enhanced accessibility and distribution. Rapid urban growth, typified by massive population migrations from rural to urban areas, has triggered an urgent need for efficient healthcare infrastructure, including vaccine programs, to meet the demands of the ever-expanding urban populace.
In the last decade, Asia has added more than 200 million people to its urban areas, with cities like Delhi, Shanghai, and Jakarta experiencing explosive population growth. To put this into perspective, between 2010 and 2020, Beijing alone saw an increase of 8 million urban residents. This urban influx is inevitably leading to dense population pockets, where the spread of contagious diseases can be rampant. In response to this, Hanoi's city government invested $80 million in 2022 to strengthen its immunization infrastructure, highlighting the proactive steps taken by urban centers. Similarly, Manila, in anticipation of its growing urban community, secured contracts for 60 million vaccine doses in 2022, nearly doubling its procurement from the previous year in the Asia Pacific preventive vaccines market. Furthermore, the economic powerhouses of the region, Tokyo and Seoul, with GDPs of $1.6 trillion and $1.5 trillion respectively, have dedicated 2% of their city budgets to ensure vaccine availability for all urban residents. The intertwining of urbanization with healthcare imperatives underscores the vital role cities play in shaping the vaccine landscape of the Asia Pacific. As urban centers continue to burgeon, it is anticipated that they will remain pivotal in driving the vaccine market's trajectory.
Trend: Rapid Adoption and Digital Integration in Vaccine Distribution
The amalgamation of technology and healthcare has heralded a transformative trend in the Asia Pacific preventive vaccines market: the rise of digital platforms to augment vaccine distribution and tracking. Leveraging digital tools is becoming a pivotal strategy, ensuring efficient vaccine dissemination, especially as tech-savvy populations demand more transparency and convenience. By the end of 2022, over 400 million people in Asia Pacific had access to 5G technology, a testament to the region's rapid digital transformation. This burgeoning digital connectivity has facilitated the launch of mobile apps dedicated to vaccine registration and tracking. For example, India's CoWIN app, in just six months since its inception, recorded registrations of over 250 million users. In a similar vein, South Korea's Corona 19 Vaccine Certificate app witnessed 30 million downloads within its first quarter, highlighting the public's eagerness to integrate technology into their healthcare routines. This trend is not confined to populous nations alone. Smaller nations like New Zealand and Taiwan, with populations of 5 million and 23 million respectively, reported that 70% and 80% of their adult populations had used digital platforms for vaccine-related purposes by mid-2022.
Additionally, governments and private sectors have invested heavily in backend digital infrastructure. Singapore's investment in blockchain technology to ensure secure vaccine data transactions reached $50 million last year. Meanwhile, Australia's allocation of $40 million to improve its digital health passport system underscores the importance nations are placing on integrating technology into vaccine distribution. This digital trend, accelerated by technological advancements and public demand, will undeniably continue to shape the future dynamics of the vaccine market in the region.
Restrain: Supply Chain Disruptions in Vaccine Distribution talented
While there is a growing demand for vaccines and a general uptrend in production, the inconsistent supply chain has often stymied timely vaccine delivery and distribution in the Asia Pacific preventive vaccines market.
In 2022, severe weather conditions, primarily in Southeast Asia, affected transportation logistics. The Philippines, for instance, faced 15 major typhoons in just the span of 8 months, leading to the delay of vaccine shipments, affecting an estimated 12 million doses. Similarly, Myanmar's ongoing political instability since 2021 has disrupted its vaccine distribution, with over 15 million doses delayed or rerouted in the past year. Infrastructure limitations further compound these challenges. Despite being a major producer, India faces internal logistics issues, where an estimated 80 million doses faced distribution delays due to inadequate cold storage facilities in 2022.
In terms of maritime logistics, the Asia Pacific region saw a 20% increase in shipping costs last year, directly impacting vaccine distribution budgets. Air cargo, which plays a vital role in vaccine transportation due to its sensitivity to temperature changes, also witnessed a spike in prices by approximately 25%. Additionally, the ongoing global semiconductor shortage, which affected manufacturing in major economies like Japan and South Korea, indirectly influenced the production of refrigeration units, essential for vaccine storage. These combined factors highlight the pressing need for countries in the region to fortify their supply chain mechanisms, ensuring the consistent and timely distribution of vaccines to their populations.
Segmental Analysis
By Type
The Asia Pacific preventive vaccines market based on vaccine types is led by Messenger RNA (mRNA) vaccines with an impressive 45.9% market share in 2023, and projected to increase slightly to 46.6% by 2032. Thus, mRNA vaccines are undoubtedly the giants in the current scenario. Their rapid ascension can be attributed to several pivotal factors such as the unprecedented speed with which mRNA vaccines were developed during the COVID-19 pandemic highlighted their potential and efficiency. Their mechanism, which employs genetic instructions to prompt cells to produce a protein triggering an immune response, offered a faster route to formulation as compared to traditional vaccine development methods. The immediate need for COVID-19 vaccination led to the allocation of substantial resources, research, and funds, giving mRNA vaccines a significant edge.
However, it's not just the novelty and efficiency of the mRNA technology that drives its leadership. Its adaptability to various pathogens makes it a frontrunner for potential future outbreaks. Furthermore, with major players and manufacturers in the region focusing on mRNA vaccine distribution and development, there's a robust supply chain and infrastructure to support its widespread reach. As we move forward, the influence of mRNA vaccines is set to further intensify, solidifying their dominance in the Asia Pacific preventive vaccines market.
By Disease Indication
By disease indication, Asia Pacific preventive vaccines market is dominated by viral diseases, capturing a commanding 72.0% of the market share in 2023, and this is forecasted to rise slightly to 72.5% by 2032. The pronounced dominance of vaccines targeting viral diseases over bacterial counterparts underscores the region's health priorities and challenges. The past few years have underscored the cataclysmic impact of viral diseases. From the ravages of COVID-19 to recurring bouts of influenza, the Asia Pacific region has been on the frontline combating these viral outbreaks. Given the densely populated cities across countries like India, China, and Indonesia, the rapid transmission of viral diseases becomes a significant risk. The direct implication of this is the heightened demand for preventive vaccines as a primary defense mechanism.
Furthermore, technological advancements in vaccine research, especially with the rise of mRNA platforms, have largely been directed at viral pathogens, further bolstering this segment. Governments and health organizations are channeling their resources towards preventing viral outbreaks, given their potential for rapid spread and devastating socio-economic impacts. As the data suggests, while bacterial diseases are by no means neglected, the urgency and scale of viral threats ensure they remain at the forefront of the Asia Pacific's preventive vaccination strategy.
By Route of Administration
The Asia Pacific preventive vaccines market showcases a clear preference for the intramuscular route of administration, accounting for a robust 72.8% market share in 2023, with an anticipated rise to 74.1% by 2032. This predominance of the intramuscular method underscores its intrinsic benefits and the region's trust in this traditional vaccination approach. One of the foremost reasons for the preference towards intramuscular vaccines in the Asia Pacific is their long-established efficacy. Intramuscular vaccines have been the backbone of immunization campaigns for several decades, resulting in widespread familiarity among both healthcare practitioners and the general public. Furthermore, intramuscular injections provide a deep penetration, allowing the vaccine components to be absorbed gradually, leading to a more prolonged and effective immune response. This is especially crucial for vaccines that require time-released absorption to achieve optimum efficacy. The method is also less susceptible to potential external contaminants compared to other methods like oral administration.
While other routes, such as oral administration in the Asia Pacific preventive vaccines market, offer notable benefits like avoiding needle-associated risks and ease of distribution, the sheer reliability and proven track record of intramuscular vaccines solidify their position. It is evident from the data that while innovation and exploration continue in vaccine administration methods, the intramuscular route remains the gold standard in the Asia Pacific's preventive vaccination landscape.
By Patient Group
In the Asia Pacific preventive vaccines market, the pediatric segment is projected to command an impressive market share of over 56% by 2031, up from 55.0% in 2023. This surge highlights the region's intensified focus on child health and its commitment to shield the younger population from preventable diseases. The reasons for the pediatric segment's lead are manifold. Foremost, there's an inherent urgency to protect children, given their vulnerability to infectious diseases. The physiological makeup of children, especially those below five, makes them more susceptible to severe complications from diseases like measles, polio, and influenza, thereby emphasizing the need for timely vaccinations.
Governments across the Asia Pacific preventive vaccines market are conscious of this urgency. Their resolve to mitigate healthcare expenditure has spurred robust initiatives aimed at expanding child immunization. Notably, programs like the Vaccines for Children Program are pivotal in this endeavor. Catering to children without health insurance or those who cannot bear the cost of vaccination, these programs ensure that financial constraints do not hinder immunization access. The role of institutions like the Centers for Medicare and Medicaid Services (CMS) and the Centers for Disease Control (CDC) is pivotal in this context. Their endorsement and funding initiatives, such as the recommendation of Moderna's COVID-19 vaccination for children aged 6 through 17 years in 2022, fortify the market's trajectory.
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Regional Analysis
Predominantly, China emerges as the front-runner in the Asia Pacific preventive vaccines market, accounting for a staggering 47.2% market share in 2023, which further expected to climb to 47.8% by 2032. Notably, this increase signify China's unwavering commitment to preventive healthcare, bolstered by its vast population and strategic healthcare initiatives. As the world's most populous country, China's vaccine requirements are naturally significant. Its expansive immunization programs, coupled with the drive to achieve universal vaccination, have fortified its standing in the market. China's emphasis on indigenous vaccine development, production, and distribution cannot be overlooked either. Moreover, the country's responsiveness in the face of health emergencies, like the rapid development and deployment of COVID-19 vaccines, further accentuates its dominance. Simultaneously, the nation's consistent focus on healthcare infrastructure enhancement, collaborations with global health bodies, and investments in vaccine research and development have invariably positioned it at the helm of the Asia Pacific preventive vaccines market.
Following China closely is India, which holds a substantial 24.2% market share in 2023, expanding to an impressive 25.5% by 2032. India's growth in this segment can be attributed to its dual role as both a major consumer and producer of vaccines. The country's vast and diverse population demands an extensive vaccination program, which the government continually strives to expand and intensify. India, often dubbed the 'pharmacy of the world', has a robust pharmaceutical and biotechnology industry, making it a pivotal player in global vaccine production. Its role in producing affordable vaccines, not just for its own populace but for many developing nations, is noteworthy. The nation's proactive approach, evident from initiatives like the Universal Immunization Programme (UIP) and Mission Indradhanush, aims to reach the unreached with vital vaccines. Furthermore, the surge in public-private partnerships, government incentives for vaccine manufacturers, and India's pivotal role in global vaccination campaigns have solidified its significant share in the market.
Top Players in Asia Pacific Preventive Vaccines Market
Market Segmentation Overview:
By Type
By Disease Indication
By Route of Administration
By Patient Group
By End User
By Region
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