Top 8 Companies Shaping the India Vaccine Market

The India vaccine market size is expected to grow at a CAGR of 8.80% during the forecast period of 2025-2034. As per the analysis by Expert Market Research, the market is poised to expand significantly and attain a market value of USD 276.03 billion by 2034. The market value is driven by rising investment into healthcare research and development along with increased government and private institution collaborations to develop effective vaccines across the region.

The increasing technological advancements in the vaccine development procedure and delivery methods drive the vaccine market in India. The rising presence of private companies in India and the escalating manufacturing capability of vaccines and cold chain storage facilities are collectively contributing to the market growth. The increasing number of government initiatives towards immunisation support is driving the market demand. Additionally, with the increasing population of India, the nation is required to produce vaccines consistently, especially for infants and children.

The market is witnessing several trends that are transforming the landscape. Some of them include the increasing efforts of pharmaceutical companies toward collaborating with the government, and the increasing number of notable investments in the domain to address the medical issues prevailing in the country. The growing awareness about the importance of vaccines is further propelling the market demand. The increasing presence of prominent vaccine manufacturers such as Serum Institute of India, and Bharat Biotech contribute to the market growth. These home companies notably address the increasing demand for vaccines in India and fulfil the requirement sufficiently, propelling the market growth.

With continuous research and development activities, India has developed its vaccine to battle critical cervical cancers caused by the Human Papillomavirus (HPV) types. The vaccine has been developed as a joint initiative between the Indian government and the Serum Institute of India (SII) which is the world’s largest vaccine manufacturer. Cervavac is the first vaccine in India that has received approval from its drugs controller general. Furthermore, the government is planning to provide a free dosage of the vaccine to girls aged between 9 and 14.

The top companies in the India vaccine market are as follows

1.    GlaxoSmithKline Plc

GSK plc (formerly known as GlaxoSmithKline) plc is a British multinational pharmaceutical and biotechnology company. The company has a significant contribution to India vaccine market with its prestigious vaccines for hepatitis, rotavirus, and influenza. With continuous collaborations with local health agencies, GSK uses its wide distribution network to provide these effective vaccines to those in need and improve vaccination rates in India.

2.    Sanofi:

Sanofi S.A. is a French multinational pharmaceutical and healthcare company. The company works in Indian market as Sanofi Pasteur and provides vaccines for several diseases such as polio, rabies, and influenza. With continuous research and development, Sanofi has introduced advanced vaccines to the Indian market. The company holds a significant share in the pediatric and adult vaccine segments.

3.    Pfizer, Inc.

Pfizer Inc. is an American multinational pharmaceutical and biotechnology corporation. Pfizer’s pneumococcal and meningococcal vaccines are two major vaccines in the Indian market that play a crucial role in the prevention of bacterial infections by specific pathogens. These vaccines provide effective prevention against infections caused by the bacterium Streptococcus pneumoniae and Neisseria meningitidis respectively.

4.    Merck & Co. Inc:

Merck & Co., Inc. is an American multinational pharmaceutical company. Also known as MSD, especially outside the United States and Canada, the company supplies vaccines for human papillomavirus (HPV), hepatitis, and rotavirus in India. By providing HPV vaccines, the company plays a pivotal role in cervical cancer prevention in India.

5.    Panacea Biotec

Panacea Biotec is an Indian multinational global generic and specialty pharmaceutical as well as vaccine producer. The company manufactures affordable and effective vaccines for polio, hepatitis, and tetanus, among others. In 2023, the company launched the world's first fully liquid wP-IPV-based Pentavalent vaccine, EasyFourPol®, in India. The vaccine is expected to protect children against five fatal diseases: Diphtheria, Tetanus, Pertussis, Polio, and invasive infections caused by Haemophilus Influenza Type B.

6.    AstraZeneca

AstraZeneca plc is a British-Swedish multinational pharmaceutical and biotechnology company. AstraZeneca played a pivotal role in the Indian market with its COVID-19 vaccine called Covishield. The vaccine was produced with a strategic collaboration with the Serum Institute of India, contributing to the rapid immunisation of a population of millions.

7.    Serum Institute of India Pvt. Ltd.

Serum Institute of India (SII) is an Indian biotechnology and biopharmaceutical company. The company holds a significant share of the Indian market as it has produced several vaccines to address a wide range of problems including measles, polio, and COVID-19. The company developed Covishield to battle COVID-19 virus in India. With an extensive production capacity, the company produces affordable vaccines and enables easy access to people. It exports vaccines across 170 countries.

8.    Bharat Biotech International Ltd

Bharat Biotech International Limited (BBIL) is an Indian multinational biotechnology company that is active in the domain of drug discovery, drug development, and the manufacture of vaccines, biotherapeutics, pharmaceuticals, and healthcare products. The company gained significant traction for its COVID-19 vaccine called Covaxin. Besides COVID-19, the company produces rotavirus, rabies, and typhoid vaccines.