Global Vaccines Market Assessment, By Technology [Live-attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, mRNA Vaccines, Viral Vector Vaccines], By Route of Administration [Parenteral, Oral, Others], By Indication [Viral Diseases, Bacterial Vaccines, Cancer Vaccines, Allergy Vaccines], By Age Group [Adult, Pediatric], By Distribution Channel [Hospital and Retail Pharmacies, Government Suppliers and Authorities, Others], By Region, Opportunities and Forecast, 2018-2032F

Global vaccines market is projected to witness a CAGR of 8.16% during the forecast period 2025-2032, growing from USD 84.36 billion in 2024 to USD 158 billion in 2032.

The global vaccines market is expanding rapidly, driven by the increasing need to prevent infectious diseases, control outbreaks, and improve public health. Vaccines are essential for reducing morbidity and mortality from diseases such as influenza, measles, HPV, and COVID-19. The market's growth is fueled by rising disease prevalence, strong government immunization programs, and increasing public awareness. Governments and organizations like WHO, Gavi, and UNICEF actively fund and support large-scale vaccination campaigns, especially in developing countries. Biotechnology giants are coming together to be able to produce big results. For example, Bharat Biotech International Limited and Bilthoven Biologics B.V. have partnered in April 2024 to produce and supply oral polio vaccines.

Additionally, advancements in vaccine technology, such as mRNA and recombinant vaccines, are accelerating development and production. Increased R&D investments from pharmaceutical companies and biotech firms are leading to innovative vaccines for diseases like HIV, cancer, and respiratory infections. Favourable regulatory policies and growing healthcare expenditures further support market expansion. The increasing geriatric population, rising healthcare infrastructure in emerging economies, and expanding global vaccination coverage are expected to sustain the market’s long-term growth.

Rising Prevalence of Infectious Diseases Boosts Market Demand

The increasing prevalence of infectious diseases is expected to drive the market for vaccines in developing nations. Furthermore, significant investments in health research and life sciences in emerging countries facilitate the adoption of advanced technologies, thereby promoting the diagnosis and treatment of infectious diseases. For example, as mentioned in a study that was published in 2023, infectious diseases remain one of the leading causes of morbidity and mortality around the world, accounting for more than 52 million (33%) annual deaths worldwide. Half of the world's population remains at risk of emerging and re-emerging infectious diseases. Countries such as India, South Korea, Brazil, and Mexico have a high burden of infectious diseases such as Hepatitis, HAI, HIV, and influenza, along with a spike in number of patients, and growing medical tourism. As a result, manufacturers of vaccines in these countries are expected to encounter lucrative opportunities in the future.

Increasing Investments Towards Healthcare Sector Supports Market Expansion

Due to increased R&D investments, which promote innovation, boosts vaccine efficacy, and speeds up the production, the globe vaccines market is expanding at a substantial rate. Governments, biotech companies, and pharmaceutical companies are investing a lot of money in research and development to create next-generation vaccines, such as vector-based, mRNA, and recombinant vaccines.
Cutting-edge technologies like synthetic biology and artificial intelligence (AI) are expediting vaccine research, cutting costs, and accelerating schedules. For instance, in March 2023, CSL Limited inaugurated a new vaccine R&D facility in Massachusetts, United States, to develop advanced vaccines by using disruptive technologies such as next-generation mRNA. Investment is also being increased by public-private partnerships, such as those involving governments, the World Health Organization (WHO), and vaccine producers. Additionally, financing from international health groups like Coalition for Epidemic Preparedness Innovations (CEPI) and Global Alliance for Vaccines and Immunization (GAVI) helps make vaccines accessible in low-income areas. With continuous innovation and financial backing, the vaccines market is set to expand, offering new solutions for emerging infectious diseases and global health challenges.

mRNA Vaccines Account for a Significant Share of the Market

mRNA vaccines are largely dominating the worldwide vaccine market because of their great efficacy, quick development times, and novel technology. mRNA vaccines function by making the cells generate a harmless viral protein that elicits an immune response, in contrast to conventional immunizations that use weakened or inactivated viruses. As evidenced by the quick success of the COVID-19 vaccines made by Pfizer Inc. and Moderna, Inc., this has caused a paradigm change in vaccine development. Scalability is one of the main benefits of mRNA vaccines. They are extremely effective against newly developing infectious illnesses because they can be created and produced more quickly than traditional vaccinations. Their potential was brought to light by the COVID-19 pandemic, which led to a rise in funding for mRNA-based vaccines against cancer, HIV, and influenza, among other illnesses. Biotech and pharmaceutical businesses are growing their mRNA vaccine pipelines, which is boosting market revenues and R&D growth. Moreover, mRNA vaccine research is being funded by governments and health organizations around the world to improve readiness for upcoming pandemics. The market for vaccines is changing as mRNA technology expands its uses beyond COVID-19, opening up new avenues for illness prevention and treatment. In the upcoming year, the market's growth will be further supported by the ongoing developments and widespread acceptance of mRNA vaccines. For instance, Moderna, Inc. released preliminary findings from their phase 3 study for the seasonal flu vaccine mRNA-1010 in February 2023. While the vaccination was less effective against some influenza B strains, it not only performed better against influenza A strains but also demonstrated its superiority. This current study demonstrates how mRNA technology has the potential to significantly transform the vaccination industry.

North America Holds Major Market Share

With a robust healthcare system, high immunization rates, and substantial R&D expenditures, North America leads the world vaccine market. The region's leadership is aided by the presence of top vaccine producers like Pfizer, Moderna, and Merck. These businesses are leading the way in vaccine development, especially in the field of mRNA technology. Widespread vaccination distribution is guaranteed by government programs like Canada's immunization programs and the United States' Vaccines for Children (VFC) program. Advantageous reimbursement regulations and high healthcare spending further support the market. The FDA and Health Canada guarantee the safety and effectiveness of vaccines, and the region also benefits from robust regulatory frameworks. North America's market dominance further solidified during the COVID-19 epidemic, as the United States and Canada spearheaded the creation, manufacturing, and distribution of vaccines. With continuous advancements in vaccine technology and rising investments in immunization programs, North America is expected to maintain its leading position in the global vaccines market. The Hepatitis B Foundation, for example, is a strong supporter of the United States Centers for Disease Control and Prevention's (CDC) updated guidelines for adult hepatitis B vaccine. To increase vaccine coverage against this harmful virus among millions of American adults, the Foundation is actively working with a panel of experts to support the successful implementation of these recommendations. About 2.4 million people in the US have chronic hepatitis B, and the illness claims thousands of lives each year.

Future Market Scenario (2025-2032F)

One of the main factors contributing to the anticipated growth of the vaccines market is the increasing demand for treatment options to ensure patient safety by delivering the right quality of drug or any other such chemical product. Not only that but the rising population and cases of chronic diseases such as cancer, is also a factor that will always propel market growth in future. Given that technology is advancing, we can expect cutting-edge product innovations in the field of cancer vaccines segment as well. Players in this market are expanding at an un-paralleled rate, introducing cost-effective and efficient technologies. For instance, in January 2024, Indian Immunologicals Ltd. launched India’s first indigenously developed vaccine for treating Hepatitis A, called as Havisure.

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Report Scope

“Vaccines Market Assessment, Opportunities and Forecast, 2018-2032F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global vaccines market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2025 and 2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

Report Attribute	Details
Base Year of the Analysis	2024
Historical Period	2018-2023
Forecast Period	2025-2032
Projected Growth Rate	CAGR of 8.16% between 2025 and 2032
Revenue Forecast in 2032	USD 158 billion
Segments Covered	Technology, Route of Administration, Indication, Age Group, Distribution Channel
Regions Covered	North America, Europe, South America, Asia-Pacific, Middle East and Africa
Key Companies Profile	Pfizer Inc., Merck & Co., Inc., GlaxoSmithKline plc, Moderna, Inc., Sanofi S.A., Novo Nordisk A/S, Serum Institute of India Pvt. Ltd., China National Pharmaceutical Group Corporation (SINOPHARM), Johnson & Johnson Services, Inc., Sarepta Therapeutics, Inc.
Customization Scope	15% free report customization with purchase
Pricing and Purchase Options	Avail the customized purchase options to fulfill your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

In the report, global vaccines market has been segmented into the following categories: 

• By Technology
  • Live-attenuated Vaccines
  • Inactivated Vaccines
  • Subunit Vaccines
  • mRNA Vaccines
  • Viral Vector Vaccines
• By Route of Administration
  • Parenteral
  • Oral
  • Others
• By Indication
  • Viral Diseases
    • Hepatitis
    • Influenza
    • Human papillomavirus (HPV)
    • Measles, Mumps, and Rubella (MMR)
    • Rotavirus
    • Herpes Zoster
    • Covid-19
    • Others
  • Bacterial Vaccines
    • Meningococcal Diseases
    • Pneumococcal diseases
    • Diphtheria-Tetanus-Pertussis (DPT)
    • Others
  • Cancer Vaccines
  • Allergy Vaccines
• By Age Group
  • Adult
  • Pediatric
• By Distribution Channel
  • Hospital and Retail Pharmacies
  • Government Suppliers and Authorities
  • Others
• By Region
  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa

Key Players Landscape and Outlook

The key players in the market are significantly investing in the development of vaccines and are utilizing strategies such as mergers, acquisitions, partnerships, and new product launches to improve their services and competitiveness. Such efforts will propel significant growth in the market, allowing large-cap industry players to increase their presence and, therefore, find new opportunities in this market.

For instance, a co-exclusive licensing deal to co-commercialize a COVID-19 vaccine and work together to create innovative COVID-19 and influenza combo vaccines was announced by Novavax, Inc. and Sanofi S.A. in May 2024. Through this strategic alliance, both businesses can use their resources and areas of expertise to develop and sell novel vaccination solutions. Sanofi and Novavax aimed to strengthen their competitive position in the quickly changing vaccine development and distribution market by partnering. The deal represents a proactive strategy to address public health issues and satisfy the growing need for efficient vaccines to prevent infectious diseases.

Key Players Operating in Global Vaccines Market are:

• Pfizer Inc.
• Merck & Co., Inc.
• GlaxoSmithKline plc
• Moderna, Inc.
• Sanofi S.A.
• Novo Nordisk A/S
• Serum Institute of India Pvt. Ltd.
• China National Pharmaceutical Group Corporation (SINOPHARM)
• Johnson & Johnson Services, Inc.
• Sarepta Therapeutics, Inc.

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• How are the markets divided into different product/service segments and the market size and growth of each segment?
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• How are the markets predicted to develop in the future and what factors will drive or inhibit growth?
• What is the business environment and regulatory landscape specific to the product/service?

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