Adult vaccines are primarily used in immunizing adults against diseases such as hepatitis, influenza, pneumonia and herpes zoster. These vaccines help protect individuals against severe illnesses and reduce the disease burden. Adult vaccines are usually prescribed for individuals above 18 years of age or for those entering adulthood. They are important in reducing risks of vaccine preventable diseases and controlling epidemic outbreaks.

The global Adult Vaccines Market is estimated to be valued at US$ 16,790.11 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The opportunity for reduction in disease burden is expected to drive significant growth of the adult vaccines market. Preventing diseases through vaccination can significantly reduce illness, disability and mortality among adults. Widespread adult vaccination programs can substantially lower the burden of many vaccine-preventable diseases globally. For instance, vaccination against influenza and pneumonia is crucial to protect adults from severe complications arising from these conditions. These vaccines can prove beneficial in reducing hospitalization, medical costs and loss of productivity associated with such diseases. Similarly, vaccination of adults against hepatitis B and herpes zoster significantly cuts down the risk of chronic liver disease and painful complications of shingles later in life. Effective vaccination coverage in older adults thus presents a major market opportunity to lower disease prevalence rates. This in turn is projected to augment demand for adult vaccines over the forecast period.

Porter's Analysis
Threat of new entrants: Low- Medium. Significant capital is required to conduct R&D and bring new vaccines to market. Regulatory barriers also exist.

Bargaining power of buyers: Medium. A large customer base of healthcare providers and govts who purchase vaccines. Market consolidated with few major players.

Bargaining power of suppliers: Low. Major pharma companies control intellectual property and production. Suppliers have less influence on prices.

Threat of new substitutes: Low. Limited substitute prevention measures compared to effectiveness of vaccines.

Competitive rivalry: High. Major players compete on innovation, pricing and market share.

SWOT Analysis
Strengths: Growing aging population worldwide increases market. Vaccines save on long term healthcare costs.

Weaknesses: Low awareness in developing nations. Vaccine hesitancy and refusals impact uptake rates.

Opportunities: Development of immunotherapies and combo vaccines presents scope. Untapped potential in certain countries.

Threats: Stringent regulations delay products. Outbreaks can impact demand prognosis. Vaccine price control policies hurt revenue.

Key Takeaways
The global Adult Vaccines market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to grow from US$ 16,790.11 Mn in 2023 to US$ 33,678.42 Mn by 2030 at a CAGR of 7.1%.

The North American region currently dominates the adult vaccines market owing to high awareness levels, recommendations by health bodies and availability of government funding for immunization programs. However, Asia Pacific is anticipated to be the fastest growing market led by large population base and improving healthcare infrastructure in countries such as India and China.

Key players operating in the adult vaccines market are GlaxoSmithKline Plc, Merck & Co., Sanofi Pasteur, Pfizer Inc., CSL Limited, Johnson & Johnson, Serum Institute of India, Medimmune, and AstraZeneca Plc. Major players are focused on expanding their portfolio through acquisitions and new product launches.