Vaccines Market Size

The global vaccines market size was valued at $77.04 billion in 2024 and is projected to reach $91.99 billion by 2030, growing at a CAGR of 3.0% during the forecast period. 

Vaccines Market Overview

A vaccine is a biological substance designed to stimulate the production of antibodies to fight with existing infections within the body. Formulated with antigens derived from pathogens and chemical compounds, vaccines act as a preventative measure against various illnesses. The several common types of vaccines, including conjugate vaccines, inactivated vaccines, live attenuated vaccines, recombinant vaccines, and toxoid vaccines. These vaccines play a crucial role in preventing serious diseases such as hepatitis, measles, polio, diphtheria, meningitis, influenza, tetanus, and rotavirus. By promoting the immune system's response, vaccines contribute to safeguarding individuals from a range of potentially harmful infections.

Vaccines Market Dynamics

• The vaccines market is expected to witness significant growth in the future due to the Increasing number of immunization programs, increasing prevalence of infectious diseases, and growing awareness about the benefits of vaccination.

• Additionally, advancements in vaccine technology are the prominent factors driving the growth of the market.

• However, high development costs and long timelines for vaccine manufacturing are restraining the market growth.

• On the contrary, increased focus on therapeutic vaccines, extensive R&D for vaccines, and increased investments in clinical trials are creating opportunities for market growth.

Impact of COVID-19 on the Vaccines Market

The global reach of the COVID-19 pandemic, impacting over 200 countries, has spurred manufacturers to enhance production capabilities and speed up the supply of critical products. Concurrently, the pandemic has disrupted routine immunization programs led by key organizations, including UNICEF, WHO, and PAHO. Responding to the critical shortage of COVID-19 vaccines in Latin America and the Caribbean, PAHO has introduced a regional production platform. UNICEF's May 2020 report revealed the suspension of immunization campaigns in 99 countries for diseases like measles, rubella, polio, meningococcal, and DTP. This interruption, coupled with a decline in vaccination rates, places a significant burden on healthcare systems, elevating death rates by rendering populations susceptible to deadly diseases. The consequences resulting from this situation would be far worse than the pandemic itself.

By Age Group, Pediatric Segment to Hold Major Share in the Vaccines Market

The Pediatric segment is expected to have a huge demand in the vaccines market during the forecast period owing to the globally expanding birth cohort and the increasing administration of pediatric vaccination doses. Notably, as per the World Health Organization (WHO) data for 2020, an impressive 83% of infant's worldwide, totaling approximately 113 million infants received three doses of the diphtheria-tetanus-pertussis (DTP3) vaccine. This vaccination regimen is instrumental in safeguarding infants against infectious diseases known for causing severe illness, disability, or fatality, emphasizing the critical role of pediatric injections in global healthcare initiatives.

By Geography, North America is expected to have the highest CAGR during the forecast period

The North America is experiencing strong growth during the forecast period due to heightened occurrence of infectious diseases and considerable investments from governmental and nongovernmental organizations dedicated to vaccine development. The region's sustained commitment to addressing infectious diseases underscores the importance of vaccines in public health, reinforcing the market's growth trajectory. The substantial resources allocated by various entities signify a collective dedication to advancing vaccine research, development, and accessibility, reaffirming North America's pivotal role in the global vaccines market.

Key Target Audience:

• Pharmaceutical Companies

• Government Health Agencies

• Healthcare Professionals

• Non-Governmental Organizations (NGOs)

• Vaccine Distributors and Suppliers

List of the Key Players Profiled in the Report Includes: 

• GlaxoSmithKline plc.

• Mitsubishi Tanabe Pharma Corporation

• Inovio Pharmaceuticals, Inc.

• Novartis AG

• Emergent BioSolutions, Inc.

• BHARAT BIOTECH

• SANOFI

• Bavarian Nordic

• Pfizer Inc. 

• Merck & Co., Inc.

• CSL Limited

• NOVAVAX

• SERUM INSTITUTE OF INDIA PVT., LTD.

• Panacea Biotec

• DAIICHI SANKYO COMPANY, LIMITED

Recent Developments:

• In October 2023, Pfizer Inc. received approval by the U.S. Food and Drug Administration for PENBRAYA. This vaccine, the first of its kind, is designed to prevent meningococcal disease in adolescents and young adults aged 10-25 years by targeting the most prevalent serogroups.

• In October 2023, GSK and Arrowhead Pharmaceuticals Inc. revealed a partnership with Janssen Pharmaceuticals, Inc. to transfer exclusive rights for the continued development and commercialization of JNJ-3989 to GSK. Originally licensed by Janssen from Arrowhead in 2018, JNJ-3989 is the focus of this agreement.

• In August 2022, GSK (UK) acquired Affinivax, Inc. (US) to gain access to a next-generation 24-valent pneumococcal vaccine candidate.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Type:

• Recombinant/Conjugate/Subunit                                           

• Inactivated                                        

• Live Attenuated                                              

• Toxoid

Market by, Route of Administration:

• Parenteral          

• Oral        

Market by, Disease Indication:

• Viral Diseases

• Bacterial Diseases

Market by, Age Group:

• Pediatric

• Adults

Market by, Distribution Channel:

• Hospital & Retail Pharmacies                      

• Government Suppliers                 

• Other Distribution Channels 

Market by, Geography:

The vaccines market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis

• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis

• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis

• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis

• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

What Can be Explored with this Research Report:

• Understand the key trends that will drive the market and the challenges it faces in the current market scenario

• Identify growth opportunities

• Porter's five force analysis

• In-depth analysis of market segments, and regions/countries predicted to observe promising growth

• Historical and forecast size of the market in terms of revenue (USD Million)

• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted