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Vaccines Market Size, Share, Industry, Forecast and Outlook (2023-2030)

Published: 2023 September 13
SKU : PH740
180 pages
Report Summary
Table of Contents
List of Tables & Figures

Global Vaccines Market is segmented By Vaccines Type (Conjugate, Inactivated, Live Attenuated, Toxoid, Others) By Route of Administration (Oral, Intravenous, Others) By Disease (Measles, Influenza, Smallpox, Yellow fever, Others), By Age ( Pediatrics, Adults, Geriatrics) By Distribution Channel ( Hospital Pharmacies, Retail Pharmacies​​, Online Pharmacies) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030


Vaccines Market Size

The Global Vaccines Market was valued at US$ 145.6 billion in 2022 and is expected to reach US$ 151.5 billion by 2030, exhibiting a CAGR of 1.4% during the forecast period (2023-2030).

A vaccine is a type of medicine that trains the body’s immune system to fight diseases it has not come into contact with before. Vaccines are developed to prevent disease; when patients are immune to a disease, they are protected against it. Most vaccines are given intravenously, but some are given orally or nasally.


Vaccines Market Summary



Market CAGR


Segments Covered

By Vaccines Type, By Route of Administration, By Disease, By Age, By Distribution Channel, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America


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Vaccines Market Dynamics

The vaccines market growth is driven by the rise in prevalence of different diseases such as tuberculosis, infectious diseases such as COVID-19, rising adoption of vaccines to prevent diseases, an increase in the geriatric population, and research  and development activities.

The rising development of vaccines is expected to drive the market growth   

The rising number of patients with different diseases, such as tuberculosis and infectious diseases, is expected to boost the market over the forecast period. As the article published in Immunization in 2020, most vaccines used nowadays have been developed by different methods, such as the live-attenuated method. Due to the advancement of the techniques of vaccine development, especially recombinant techniques. For instance, available hepatitis B vaccines are currently produced by cloning the HBsAg gene into yeast, leading to the synthesis of HBsAg within the yeast cell. Also, new technologies include the use of nucleic acids, which encode critical antigens. The combination of DNA injection with the administration of protein at a later point in time leads to the production of antigens without the risk of producing whole infectious organisms.

In addition, with the breakdown of infectious diseases, the market players are engaged in new product development and launching vaccines. For instance, in July 2021, GSK received US FDA approval for Shingrix (Zoster Vaccine Recombinant, Adjuvanted) for the prevention of shingles (herpes zoster) in adults aged 18 years and older who are or will be at increased risk of shingles due to immunodeficiency or immunosuppression caused by known disease or therapy. Also, in June 2021, Merck launched the VAXELIS (Diphtheria and Tetanus Toxoids and Acellular Pertussis, Inactivated Poliovirus, Haemophilus b Conjugate and Hepatitis B Vaccine) in the United States, developed in partnership with Sanofi Pasteur.

The side effects of  vaccines will hamper the growth of the market

However, the side effects of vaccines vary with different vaccines. For instance, after DTaP vaccination, the side effects include soreness or swelling where the shot was given, fever, fussiness, loss of appetite, tiredness, and vomiting. In the case of Influenza live vaccine, vomiting, muscle aches, fever, sore throat, and cough are other possible side effects. These side effects are limiting the market growth.

COVID-19 Impact Analysis on Vaccines Market

The appearance of COVID-19 positively impacted the global vaccines market. To prevent the coronavirus infection, the key players are started the research and development of vaccines for COVID-19. While developing a vaccine, industries have to follow the protocol, which is quite difficult. As per the data of the CDC July 2022 report, a novel vaccine's introduction to the public involves several processes, including vaccine development, clinical testing, permission or approval by the U.S. Food and Drug Administration (FDA), production, and distribution.

In addition, numerous public and private institutions have collaborated to make COVID-19 vaccinations accessible to the general public. For instance, in April 2020, AstraZeneca and the University of Oxford collaborated on the global development and distribution of the University's potential recombinant adenovirus vaccine aimed at preventing COVID-19 infection from SARS-CoV-2. Also, in December 2020, COVAXIN India's indigenous COVID-19 vaccine by Bharat Biotech was developed in collaboration with the Indian Council of Medical Research (ICMR) - National Institute of Virology (NIV).

In addition, as of January 2022, there are around 137 COVID-19 vaccine candidates undergoing clinical trials and 194 candidates in pre-clinical development worldwide. Overall the impact of COVID-19 positively affected the vaccine market.

Vaccines Market Segmentation Analysis

The COVID-19 disease segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)    

The COVID-19 disease segment is expected to boost the market over the period of the forecast. Due to the outbreak of coronavirus infection, more patients were getting infected by the COVID-19 infection, which opens the opportunity for the market players to develop a new drug and help to minimize the infection worldwide. For instance, in January 2022, Pfizer Inc. and BioNTech SE started a clinical study to evaluate the safety, immunogenicity, and tolerability of an Omicron-based vaccine candidate in adults aged 18 to 55. Also, in December 2021, the Serum Institute of India (SII) declared its plan to launch a COVID vaccine for children in the coming six months. This product launch will benefit the company’s business performance.

Moreover, some market players are adopting collaboration and acquisition market strategies to expand their business. For instance, in June 2020, Merck acquired the Themis for the development of a measles vector-based COVID-19 vaccine. This has stimulated the vaccine development potential with the addition of new technology and expertise.

Global Vaccines Market Geographical Share

North America region holds the largest market share of the global vaccines market

North America dominates the market for vaccines and is expected to show a similar trend over the forecast period. It is estimated to hold a significant market size over the forecast period (2022-2029) owing to the increased population with disease, advanced healthcare system, growing geriatric population, research and development activities and a large number of biotechnological companies. Development of products and approval of vaccine products drives the market in the North American region. In July 2022, the US Food and Drug Administration issued an emergency use authorization for NVX-CoV2373 (Novavax COVID-19 vaccine) for individuals aged 12 years or older, and the Centers for Disease Control and Prevention subsequently suggested it as an option for COVID-19 vaccination.

Moreover, the market players are applying different market strategies such as product launching and collaboration. For instance, in April 2020, the U.S. Food and Drug Administration (FDA) approved Sanofi’s MenQuadfi vaccine for the prevention of invasive meningococcal diseases in persons aged 2 years and older. Also, in 2021, MSD Pharmaceuticals, a wholly-owned subsidiary of Merck Sharp & Dohme, launched “Gardasil 9”, India’s first gender-neutral HPV vaccine.

Vaccines Market Leaders

The vaccines market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market are Merck & Co., Inc, Emergent Bio solutions, GlaxoSmithKline, Novartis, Sanofi Pasteur, Seqirus, Pfizer, CSL Limited, Jhonson & Jhonson, and Serum Institute of India Pvt Ltd. among others. The major players are adopting several growth strategies such as new product launches, acquisitions, and collaborations, which are contributing to the growth of the vaccines market globally.

For instance,

  • In October 2021, Pfizer received the US FDA Emergency Use Authorization (EUA) for the Pfizer-BioNTech COVID-19 Vaccine for children 5 through 11 years of age.
  • In August 2021, Pfizer-BioNTech COVID-19 vaccine COMIRNATY received full US FDA approval for individuals 16 years and older.

Merck & Co., Inc


Merck & Co., Inc. is an American multinational pharmaceutical company founded in 1891 and headquartered in the United States. It is discovering, developing and distributing vaccines to prevent the disease worldwide.

Treatment type Portfolio:

BCG Vaccine: This vaccine is used as live attenuated for percutaneous use. It used for the treatment of tuberculosis (TB), an airborne communicable disease caused by bacterium mycobacterium tuberculosis.

The global vaccines market report would provide access to approximately 70+ market data tables, 70+ figures, and in the range of 250+ (approximate) pages.

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What is the Vaccines Market growth?
The market is growing at a CAGR of 1.4%.
Who are the key players in Vaccines Market?
Key players are Merck & Co., Inc, Emergent Bio solutions, GlaxoSmithKline, Novartis, Sanofi Pasteur, Seqirus, Pfizer, CSL Limited, Jhonson & Jhonson, and Serum Institute of India Pvt Ltd. among others.
Which is the fastest-growing region in the Vaccines Market?
Asia Pacific is the fastest-growing region in the Vaccines Market.
Which is the Largest Market Share in the Vaccines Market?
North America is the Largest Market Share in Vaccines Market.
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