The vaccine market was valued at $43.2 billion in 2023 and is projected to reach $90.7 billion by 2035, registering a CAGR of 6.4% from 2024 to 2035. A vaccine is a biological preparation that provides immunity to a particular infectious disease. It typically contains weakened or inactive forms of the pathogen, its toxins, or surface proteins, which stimulate the immune system to recognize and remember the pathogen. When people are vaccinated, their immune system responds by producing antibodies and activating immune cells specific to that pathogen. This creates a defense mechanism within the body, so if a person is later exposed to the actual infectious agent, the immune system can quickly recognize and destroy it, preventing or reducing the severity of the disease. Vaccines have been instrumental in controlling and eradicating many deadly diseases throughout history, making them one of the most significant advancements in modern medicine.
The growth of the vaccine market is primarily driven by rise in prevalence of diseases, such as influenza, pneumococcal disease, HPV, and other infections, requiring administration of vaccines. For instance, in 2023, Centers for Disease Control and Prevention (CDC) estimated that 31 million people were sick with flu. In addition, government investment in vaccine research and development, manufacturing infrastructure, and public immunization programs significantly impacts the vaccine market. Public-private partnerships, grants, tax incentives, and regulatory frameworks incentivize vaccine development and ensure safety, efficacy, and quality standards. Regulatory agencies, such as the U.S. Food and Drug Administration (FDA), the European Medicines Agency (EMA), and the World Health Organization (WHO), play pivotal roles in evaluating and approving vaccines for licensure, which influences market access and adoption. However, the high development costs, complex manufacturing processes, and stringent regulatory requirements contribute to the high prices of vaccines, limiting affordability, especially in low- and middle-income countries (LMICs) which may restrain the market growth. In contrast, due to ongoing advancements in biotechnology, genomics, and immunology, there is an opportunity to expand disease prevention and control through the development of new and improved vaccines. Emerging infectious diseases, antimicrobial resistance, and re-emerging pathogens underscore the need for innovative vaccine solutions to address unmet medical needs and mitigate public health threats. The vaccine market is segmented on the basis of technology type, indication, end user, and region. By technology type, the market is categorized into recombinant and conjugate vaccines, live attenuated vaccines, inactivated vaccines, toxoid vaccines, and others. As per indication, the market is divided into pneumococcal disease, influenza, human papilloma virus, meningococcal disease, rotavirus, varicella, measles, mumps, and rubella, diphtheria, pertussis, and tetanus (DTP), polio, hepatitis, and other indications. Depending on end user, the market is categorized into pediatric, adults, and travelers. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA). Major key players that operate in the global vaccine market are Merck & Co., Inc., Pfizer, Sanofi, Serum Institute of India Pvt. Ltd., Bavarian Nordic, CSL Limited, Emergent Bio Solutions Inc., GlaxoSmithKline plc., Zhi Fei Biological, and Bharat Biotech. The key players operating in the market have adopted clinical trial, product launch, product approval, and expansion as their key strategies to expand their product portfolio.
The growth of the vaccine market is primarily driven by rise in prevalence of diseases, such as influenza, pneumococcal disease, HPV, and other infections, requiring administration of vaccines. For instance, in 2023, Centers for Disease Control and Prevention (CDC) estimated that 31 million people were sick with flu. In addition, government investment in vaccine research and development, manufacturing infrastructure, and public immunization programs significantly impacts the vaccine market. Public-private partnerships, grants, tax incentives, and regulatory frameworks incentivize vaccine development and ensure safety, efficacy, and quality standards. Regulatory agencies, such as the U.S. Food and Drug Administration (FDA), the European Medicines Agency (EMA), and the World Health Organization (WHO), play pivotal roles in evaluating and approving vaccines for licensure, which influences market access and adoption. However, the high development costs, complex manufacturing processes, and stringent regulatory requirements contribute to the high prices of vaccines, limiting affordability, especially in low- and middle-income countries (LMICs) which may restrain the market growth. In contrast, due to ongoing advancements in biotechnology, genomics, and immunology, there is an opportunity to expand disease prevention and control through the development of new and improved vaccines. Emerging infectious diseases, antimicrobial resistance, and re-emerging pathogens underscore the need for innovative vaccine solutions to address unmet medical needs and mitigate public health threats. The vaccine market is segmented on the basis of technology type, indication, end user, and region. By technology type, the market is categorized into recombinant and conjugate vaccines, live attenuated vaccines, inactivated vaccines, toxoid vaccines, and others. As per indication, the market is divided into pneumococcal disease, influenza, human papilloma virus, meningococcal disease, rotavirus, varicella, measles, mumps, and rubella, diphtheria, pertussis, and tetanus (DTP), polio, hepatitis, and other indications. Depending on end user, the market is categorized into pediatric, adults, and travelers. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA). Major key players that operate in the global vaccine market are Merck & Co., Inc., Pfizer, Sanofi, Serum Institute of India Pvt. Ltd., Bavarian Nordic, CSL Limited, Emergent Bio Solutions Inc., GlaxoSmithKline plc., Zhi Fei Biological, and Bharat Biotech. The key players operating in the market have adopted clinical trial, product launch, product approval, and expansion as their key strategies to expand their product portfolio.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the vaccines market analysis from 2023 to 2035 to identify the prevailing vaccines market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the vaccines market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global vaccines market trends, key players, market segments, application areas, and market growth strategies. Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
- 24-hour priority response*
- Free Industry updates and white papers. Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Regulatory Guidelines
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
Key Market Segments
By Technology Type
- Inactivated Vaccines
- Toxoid Vaccines
- Others
- Recombinant and Conjugate Vaccines
- Live Attenuated Vaccines
By Indication
- Pneumococcal Disease
- Influenza
- Human Papilloma Virus
- Meningococcal Disease
- Rotavirus
- Varicella
- Measles, Mumps, and Rubella
- Diphtheria, Pertussis, and Tetanus (DTP)
- Polio
- Hepatitis
- Other Indications
By End User
- Pediatric
- Adults
- Travelers
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- CSL Limited
- Emergent Bi
- Solutions Inc.
- GlaxoSmithKline Plc.
- Merck & Co., Inc.
- Pfizer
- Sanofi
- Serum Institute of India Pvt. Ltd.
- Bavarian Nordic
- Zhi Fei Biological
- Bharat Biotech
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: VACCINES MARKET, BY TECHNOLOGY TYPE
CHAPTER 5: VACCINES MARKET, BY INDICATION
CHAPTER 6: VACCINES MARKET, BY END USER
CHAPTER 7: VACCINES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
Key Market Players in the Vaccines Market include:- CSL Limited
- Emergent Bio Solutions Inc.
- GlaxoSmithKline Plc.
- Merck & Co. Inc.
- Pfizer
- Sanofi
- Serum Institute of India Pvt. Ltd.
- Bavarian Nordic
- Zhi Fei Biological
- Bharat Biotech
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 350 |
| Published | April 2024 |
| Forecast Period | 2023 - 2035 |
| Estimated Market Value ( USD | $ 43.2 billion |
| Forecasted Market Value ( USD | $ 90.7 billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
