Conjugate Vaccine Market Report 2025

The conjugate vaccine market size has grown rapidly in recent years. It will grow from $18.9 billion in 2024 to $21.46 billion in 2025 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to disease burden, government immunization programs, increased awareness, pediatric vaccination emphasis, preventive healthcare trends.

The conjugate vaccine market size is expected to see rapid growth in the next few years. It will grow to $34.59 billion in 2029 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to expanding immunization policies, aging population dynamics, new vaccine indications, global health security concerns, international collaboration, economic development impact. Major trends in the forecast period include collaborations and partnerships for vaccine distribution, tailored approaches for high-risk populations, application in emerging infectious diseases, advancements in vaccine manufacturing technologies, global health initiatives for vaccine equity.

The rising use of conjugate vaccines among adults is projected to drive the growth of the conjugate vaccine market. These vaccines are designed to elicit a strong immune response against bacterial capsular polysaccharides, thereby enhancing the body’s defense against bacterial infections. Utilizing conjugate vaccines in adults can lower the risk of severe illness, complications, and the transmission of bacterial diseases by stimulating a vigorous immune response. For example, in June 2024, reports from the UK Health Security Agency (UKHSA), a public health organization based in the UK, indicated that the 12-month coverage for the '6-in-1' vaccine in the UK remained steady at 91.7%. The first dose of the pneumococcal conjugate vaccine (PCV) was at 93.7%, while rotavirus coverage increased by 0.6%, reaching 89.3%. Additionally, the second dose of the meningitis B vaccine (MenB2) rose by 0.1% to 91.5%. Thus, the growing use of conjugate vaccines in adults is contributing to the expansion of the conjugate vaccine market.

The increasing prevalence of infectious diseases is anticipated to drive the growth of the conjugate vaccine market. Infectious diseases are conditions caused by pathogenic microorganisms, including bacteria, viruses, parasites, or fungi, which can be transmitted directly or indirectly from person to person, from animals to humans, or through environmental sources. Conjugate vaccines are essential in preventing infectious diseases caused by specific bacteria, particularly among vulnerable populations such as infants and young children. For example, in November 2023, the World Health Organization (WHO), an international public health agency based in Switzerland, reported that approximately 10.6 million individuals worldwide were diagnosed with tuberculosis (TB) in 2022, including 5.8 million men, 3.5 million women, and 1.3 million children. Therefore, the rising incidence of infectious diseases is fueling the expansion of the conjugate vaccine market.

Innovation in conjugate vaccines emerges as a prominent trend gaining traction in the conjugate vaccine market. Companies actively involved in this market are strategically focused on the development of innovative conjugate vaccines to maintain their competitive standing. An exemplar of this trend is Pfizer Inc., a US-based pharmaceutical and biotechnology company, which, in June 2022, launched Prevnar 20, a pneumococcal 20-valent conjugate vaccine, in Canada. This vaccine is designed to prevent pneumonia and invasive pneumococcal infections in adults aged 18 and older. Prevnar 20 includes conjugates for the 13 serotypes covered by PREVNAR 13, along with conjugates for seven additional serotypes associated with invasive pneumococcal disease, characterized by high case-fatality rates, antibiotic resistance, and meningitis.

Major companies operating in the conjugate vaccine market are directing their efforts towards the development of advanced conjugate vaccines, including the 21-valent pneumococcal conjugate vaccine. This type of vaccine is crafted to provide protection against infections caused by Streptococcus pneumoniae bacteria. An illustrative example is Merck & Co., Inc., a US-based pharmaceutical company, which, in April 2022, received the Breakthrough Therapy Designation from the U.S. Food and Drug Administration (FDA) for its 'V116.' V116 is a 21-valent pneumococcal conjugate vaccine designed for the prevention of invasive pneumococcal disease (IPD) and pneumococcal pneumonia. Tailored to target strains of pneumococcal bacteria commonly found in adults, V116 represents a significant advancement in conjugate vaccine development.

In August 2022, GSK, a UK-based pharmaceutical and biotechnology company, completed the acquisition of Affinivax Inc. for $2.1 billion. This strategic move by GSK is aimed at fortifying its portfolio of specialty medicines and vaccines, particularly in the realm of advanced pneumococcal vaccines. The acquisition includes Affinivax's AFX3772, contributing to GSK's position in the development of cutting-edge conjugate vaccines. Affinivax, a US-based biotechnology company, specializes in the development of conjugate vaccines.

Major companies operating in the conjugate vaccine market include Sanofi S.A., Pfizer Inc., Merck & Co. Inc., GlaxoSmithKline plc, Bharat Biotech International Limited, Serum Institute of India Private Limited, Biological E. Limited, Bavarian Nordic A/S, CSL Limited, Novartis AG, GreenSignal Bio Pharma Limited, Taj Pharmaceuticals Limited, Vaxcyte Inc., Neuron Biotech Co. Ltd., Bio-Med Pvt. Ltd., Sinovac Biotech Ltd., Takeda Pharmaceutical Company Limited, Valneva SE, Dynavax Technologies Corporation, Emergent BioSolutions Inc., Hualan Biological Engineering Inc., Panacea Biotec Ltd., Protein Sciences Corporation, Seqirus.

North America was the largest region in the global conjugate vaccine market in 2024. The regions covered in the conjugate vaccine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the conjugate vaccine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Conjugate vaccines, also referred to as immunogen conjugates, represent advanced immune system modulators extensively employed to induce protection against invading pathogens or stimulate specific antibodies against a targeted molecule. The conjugation process plays a crucial role in augmenting the immune response, enabling a more effective recognition of the pathogen by the immune system.

Two primary types of conjugate vaccines are monovalent conjugate vaccines and multivalent conjugate vaccines. Monovalent conjugate vaccines consist of a single conjugated antigen, typically designed to target a specific pathogen or strain. These vaccines are utilized for preventing infections caused by bacteria with a polysaccharide capsule, such as streptococcus pneumoniae, haemophilus influenzae type B, and neisseria meningitidis. Monovalent conjugate vaccines are developed to address various diseases, including pneumococcal, influenza, meningococcal, and typhoid. They find application in pediatric and adult patient populations and are utilized in diverse healthcare settings such as hospitals, clinics, homecare, and other medical facilities.

The conjugate vaccine research report is one of a series of new reports that provides conjugate vaccine market statistics, including the conjugate vaccine industry's global market size, regional shares, competitors with a conjugate vaccine market share, detailed conjugate vaccine market segments, market trends and opportunities, and any further data you may need to thrive in the conjugate vaccine industry. This conjugate vaccine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The conjugate vaccine market consists of sales of diphtheria, tetanus, and pertussis (DTaP) conjugate vaccine, haemophilus influenza type b (Hib) conjugate vaccine, and E. coli conjugate vaccine. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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