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Vaccine Market

Global Vaccine Market Size, Share, Trends, Growth, Analysis: By Indication: Pneumococcal, Influenza, DTP, HPV, MMR, COVID-19; By Technology: Recombinant, Toxoid, Conjugate, RNA; By End User: Adult, Children; By Distribution Channel: Hospital and Clinical Pharmacies, Others; Regional Analysis; Supplier Landscape; 2024-2032

Global Vaccine Market Outlook

The global vaccine market size was valued at USD 68.07 billion in 2023, driven by the rising prevalence of infectious diseases across the globe. The market is expected to grow at a CAGR of 10.5% during the forecast period of 2024-2032, with the values likely to rise from USD 75.22 billion in 2024 to USD 167.19 billion by 2032.

 

Global Vaccine Market

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Global Vaccine Market Overview

Emerging and recurring infectious diseases pose a serious threat to the global economy. The development of vaccines is considered an effective countermeasure to ensure pandemic control. Administered as a preventive measure instead of a treatment, vaccines train the immune system to produce antibodies when exposed to a disease. The vaccines market demand is driven by the emphasis to mitigate any outbreak risks against infectious diseases such as COVID-19, tuberculosis, dengue, and cholera in the coming years.

 

The data released by the CDC (Centers for Disease Control and Prevention) on global immunization depicts the efficacy of vaccines. The statistics reveal that childhood vaccination prevents 4 million deaths every year. It is estimated that over 50 million deaths  can be prevented with the help of immunization by 2030. In addition, around 19 million lives can be saved by measles vaccination whereas, hepatitis B vaccination can prevent 14 million deaths. The criticality of accelerating the vaccine development has been recognized by the government. Consequently, vigorous campaigns and initiatives aimed at vaccine innovation and development are anticipated to elevate vaccine market share in the forecast period.

 

Surge in Vaccine Approvals by the Health Authorities

To provide enhanced protection against severe consequences of infectious diseases, health authorities such as the United States Food and Drug Administration (FDA) are approving vaccines that are safe and effective at an accelerated rate. In September 2023 , the FDA approved an updated COVID-19 vaccine (2023-2024 formula corresponding to the omicron variant XBB.1.5 of SARS-CoV-2) developed by Pfizer, a multinational biotechnology corporation, and Biopharmaceutical New Technologies (BioNTech), a German biotechnology company. Administered in individuals aged 5 years or above, this vaccine is taken as a single dose and is tailored against the current circulating variants of the coronavirus. With the surge in vaccine approvals by the health authorities, the market value is expected to witness notable growth in the forecast period.

 

Increased Funding to Expedite Vaccine Development

Strategic investment decisions of firms, private investors, government, and non-profit organizations can significantly bolster vaccine market growth. In June 2023,  Wellcome (a global charitable foundation) and the Bill & Melinda Gates Foundation announced USD 550 million funding for a phase III clinical trial for a tuberculosis vaccine candidate, M72 (M72/AS01E). The clinical trial covering 26,000 people spanning 50 sites across Africa and Southeast Asia will begin in early 2024 and is expected to complete in 4-6 years. Since tuberculosis is the second leading infectious killer after COVID-19, Wellcome agreed to provide USD 150 million while the rest of USD 400 million was covered by the Bill & Melinda Gates Foundation.

 

Intensive Research to Develop Cancer Vaccine

The rise in the number of cancer patients is prompting the development of personalized cancer vaccines. It is estimated that 30 million new cancer cases will be diagnosed by 2040  if appropriate measures are not taken to control and prevent cancer. To address these concerns, researchers are trying to develop cancer vaccines that can induce the immune system to show a triggered response against cancer cells. This rising focus on the production of novel vaccines is expected increase the vaccine market size in the forecast period.

 

In April 2023,  a Norwegian biotechnology company, Nykode Therapeutics announced that its Phase IIa trial of the cervical cancer vaccine, VB10.16, yielded positive results. The reports showed that 52 patients (having advanced or recurrent, non-resectable cervical cancer caused by the HPV16 virus) who underwent the clinical trial had a median overall survival of 16.9 months. Thus, Nykode’s plasmid DNA-based vaccine increased survival in advanced cervical cancer patients and is expecting a larger trial in 2024.

 

Global Vaccine Market by Segment

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Global Vaccine Market Segmentation

Market Breakup by Indication

  • Pneumococcal
  • Influenza
  • DTP
  • HPV
  • MMR
  • COVID-19

 

Market Breakup by Technology

  • Recombinant
  • Toxoid
  • Conjugate
  • RNA

 

Market Breakup by End User

  • Adult
  • Children

 

Market Breakup by Distribution Channel

  • Hospital and Clinical Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

 

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Global Vaccine Market by Region

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Global Vaccine Market Regional Analysis

North America holds the largest share of the vaccine market attributed to the increasing prevalence of infectious diseases and robust support in terms of funding from both government and non-government organizations. Additionally, the increased investments to meet the demand for innovative and effective vaccines are accelerating the growth of the vaccine market in the region.

 

Europe also holds significant vaccine market share owing to its advanced healthcare infrastructure. In January 2023 , BioNTech entered a partnership with the United Kingdom government to facilitate the development of infectious disease vaccines, among other things. Such events of partnerships and collaboration are predicted to aid market growth. With BioNTech gaining access to the United Kingdom health data and clinical trial network, the collaboration has the potential to develop innovative vaccines and offer improved patient outcomes.

 

Global Vaccine Market: Competitor Landscape

The prevalence of cancer is bolstering the demand for novel cancer vaccines. In September 2023 , Moderna (a biotech company in the United States) and Immatics (a transatlantic organization biopharmaceutical company) announced a strategic collaboration to develop oncology therapeutics including cancer vaccines by utilizing Moderna’s mRNA technology and Immatics’ XPRESIDENT® target discovery platform. Under the terms of the agreement, Immatics will receive USD 120 million along with research funding and royalty payments. The collaboration is predicted to cater to the unmet medical needs of cancer patients by developing innovative cancer immunotherapies.

 

The key features of the vaccine market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

 

  • Merck & Co. Inc.
  • GlaxoSmithKline Plc
  • Sanofi Aventis
  • Novartis AG
  • Pfizer Inc.
  • Takeda Pharmaceutical Company Limited
  • DAIICHI SANKYO COMPANY, LIMITED
  • Mitsubishi Chemical Group Corporation
  • AstraZeneca
  • MASSACHUSETTS BIOTECHNOLOGY COUNCIL
  • Biokangtai
  • Serum Institute of India Pvt. Ltd
  • VBI Vaccines Inc
  • Fei Biological
  • Indian Immunologicals Ltd.

 

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Indication
  • Technology
  • End User
  • Distribution Channel
  • Region
Breakup by Indication
  • Pneumococcal
  • Influenza
  • DTP
  • HPV
  • MMR
  • COVID-19
Breakup by Technology
  • Recombinant
  • Toxoid
  • Conjugate
  • RNA
Breakup by End User
  • Adult
  • Children
Breakup by Distribution Channel
  • Hospital and Clinical Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • Merck & Co. Inc.
  • GlaxoSmithKline Plc
  • Sanofi Aventis
  • Novartis AG
  • Pfizer Inc.
  • Takeda Pharmaceutical Company Limited
  • DAIICHI SANKYO COMPANY, LIMITED
  • Mitsubishi Chemical Group Corporation
  • AstraZeneca
  • MASSACHUSETTS BIOTECHNOLOGY COUNCIL
  • Biokangtai
  • Serum Institute of India Pvt. Ltd
  • VBI Vaccines Inc 
  • Fei Biological 
  • Indian Immunologicals Ltd.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
    1.1    Objectives of the Study
    1.2    Key Assumptions 
    1.3    Report Coverage – Key Segmentation and Scope  
    1.4    Research Methodology
2    Executive Summary
3    Global Vaccine Market Overview 

    3.1    Global Vaccine Market Historical Value (2017-2023) 
    3.2    Global Vaccine Market Forecast Value (2024-2032)
4    Global Vaccine Market Landscape*
    4.1    Global Vaccine Developers Landscape
        4.1.1    Analysis by Year of Establishment
        4.1.2    Analysis by Company Size
        4.1.3    Analysis by Region
    4.2    Global Vaccine Product Landscape
        4.2.1    Analysis by Indication
        4.2.2    Analysis by Technology
5    Global Vaccine Market Dynamics
    5.1    Market Drivers and Constraints
    5.2    SWOT Analysis
        5.2.1    Strengths
        5.2.2    Weaknesses
        5.2.3    Opportunities
        5.2.4    Threats
    5.3    Porter’s Five Forces Model
        5.3.1    Bargaining Power of Suppliers
        5.3.2    Bargaining Power of Buyers
        5.3.3    Threat of New Entrants
        5.3.4    Threat of Substitutes
        5.3.5    Degree of Rivalry
    5.4    Key Demand Indicators
    5.5    Key Price Indicators
    5.6    Industry Events, Initiatives, and Trends 
    5.7    Value Chain Analysis
6    Global Vaccine Market Segmentation (2017-2032)
    6.1    Global Vaccine Market (2017-2032) by Indication
        6.1.1    Market Overview  
        6.1.2    Pneumococcal
        6.1.3    Influenza
        6.1.4    DTP
        6.1.5    HPV
        6.1.6    MMR
        6.1.7    COVID-19
    6.2    Global Vaccine Market (2017-2032) by Technology
        6.2.1    Market Overview
        6.2.2    Recombinant
        6.2.3    Toxoid
        6.2.4    Conjugate
        6.2.5    RNA
    6.3    Global Vaccine Market (2017-2032) by End User
        6.3.1    Market Overview
        6.3.2    Adult
        6.3.3    Children
    6.4    Global Vaccine Market (2017-2032) by Distribution Channel
        6.4.1    Market Overview
        6.4.2    Hospital and Clinical Pharmacies
        6.4.3    Retail Pharmacies
        6.4.4    Online Pharmacies
    6.5    Global Vaccine Market (2017-2032) by Region
        6.5.1    Market Overview
        6.5.2    North America 
        6.5.3    Europe
        6.5.4    Asia Pacific
        6.5.5    Latin America
        6.5.6    Middle East and Africa
7    North America Vaccine Market (2017-2032)
    7.1    North America Vaccine Market (2017-2032) by Indication
        7.1.1    Market Overview  
        7.1.2    Pneumococcal
        7.1.3    Influenza
        7.1.4    DTP
        7.1.5    HPV
        7.1.6    MMR
        7.1.7    COVID-19
    7.2    North America Vaccine Market (2017-2032) by Technology
        7.2.1    Market Overview
        7.2.2    Recombinant
        7.2.3    Toxoid
        7.2.4    Conjugate
        7.2.5    RNA
    7.3    North America Vaccine Market (2017-2032) by Country
        7.3.1    United States of America
        7.3.2    Canada
8    Europe Vaccine Market (2017-2032)
    8.1    Europe Vaccine Market (2017-2032) by Indication
        8.1.1    Market Overview  
        8.1.2    Pneumococcal
        8.1.3    Influenza
        8.1.4    DTP
        8.1.5    HPV
        8.1.6    MMR
        8.1.7    COVID-19
    8.2    Europe Vaccine Market (2017-2032) by Technology
        8.2.1    Market Overview
        8.2.2    Recombinant
        8.2.3    Toxoid
        8.2.4    Conjugate
        8.2.5    RNA
    8.3    Europe Vaccine Market (2017-2032) by Country
        8.3.1    United Kingdom
        8.3.2    Germany
        8.3.3    France
        8.3.4    Italy
        8.3.5    Others
9    Asia Pacific Vaccine Market (2017-2032)
    9.1    Asia Pacific Vaccine Market (2017-2032) by Indication
        9.1.1    Market Overview  
        9.1.2    Pneumococcal
        9.1.3    Influenza
        9.1.4    DTP
        9.1.5    HPV
        9.1.6    MMR
        9.1.7    COVID-19
    9.2    Asia Pacific Vaccine Market (2017-2032) by Technology
        9.2.1    Market Overview
        9.2.2    Recombinant
        9.2.3    Toxoid
        9.2.4    Conjugate
        9.2.5    RNA
    9.3    Asia Pacific Vaccine Market (2017-2032) by Country
        9.3.1    China
        9.3.2    Japan
        9.3.3    India
        9.3.4    ASEAN
        9.3.5    Australia
        9.3.6    Others
10    Latin America Vaccine Market (2017-2032)
    10.1    Latin America Vaccine Market (2017-2032) by Indication
        10.1.1    Market Overview  
        10.1.2    Pneumococcal
        10.1.3    Influenza
        10.1.4    DTP
        10.1.5    HPV
        10.1.6    MMR
        10.1.7    COVID-19
    10.2    Latin America Vaccine Market (2017-2032) by Technology
        10.2.1    Market Overview
        10.2.2    Recombinant
        10.2.3    Toxoid
        10.2.4    Conjugate
        10.2.5    RNA
    10.3    Latin America Vaccine Market (2017-2032) by Country
        10.3.1    Brazil
        10.3.2    Argentina
        10.3.3    Mexico
        10.3.4    Others
11    Middle East and Africa Vaccine Market (2017-2032)
    11.1    Middle East and Africa Vaccine Market (2017-2032) by Indication
        11.1.1    Market Overview  
        11.1.2    Pneumococcal
        11.1.3    Influenza
        11.1.4    DTP
        11.1.5    HPV
        11.1.6    MMR
        11.1.7    COVID-19
    11.2    Middle East and Africa Vaccine Market (2017-2032) by Technology
        11.2.1    Market Overview
        11.2.2    Recombinant
        11.2.3    Toxoid
        11.2.4    Conjugate
        11.2.5    RNA
    11.3    Middle East and Africa Vaccine Market (2017-2032) by Country
        11.3.1    Saudi Arabia
        11.3.2    United Arab Emirates
        11.3.3    Nigeria
        11.3.4    South Africa
        11.3.5    Others
12    Regulatory Framework
    12.1    Regulatory Overview
        12.1.1    US FDA
        12.1.2    EU EMA
        12.1.3    INDIA CDSCO
        12.1.4    JAPAN PMDA
        12.1.5    Others
13    Patent Analysis
    13.1    Analysis by Type of Patent
    13.2    Analysis by Publication Year
    13.3    Analysis by Issuing Authority
    13.4    Analysis by Patent Age
    13.5    Analysis by CPC Analysis
    13.6    Analysis by Patent Valuation 
    13.7    Analysis by Key Players
14    Grants Analysis
    14.1    Analysis by Year
    14.2    Analysis by Amount Awarded
    14.3    Analysis by Issuing Authority
    14.4    Analysis by Grant Application
    14.5    Analysis by Funding Institute
    14.6    Analysis by NIH Departments
    14.7    Analysis by Recipient Organization 
15    Funding Analysis
    15.1    Analysis by Funding Instances
    15.2    Analysis by Type of Funding
    15.3    Analysis by Funding Amount
    15.4    Analysis by Leading Players
    15.5    Analysis by Leading Investors
    15.6    Analysis by Geography
16    Partnership and Collaborations Analysis
    16.1    Analysis by Partnership Instances
    16.2    Analysis by Type of Partnership
    16.3    Analysis by Leading Players
    16.4    Analysis by Geography
17    Supplier Landscape
    17.1    Merck & Co. Inc.
        17.1.1    Financial Analysis
        17.1.2    Product Portfolio
        17.1.3    Demographic Reach and Achievements
        17.1.4    Mergers and Acquisitions
        17.1.5    Certifications
    17.2    GlaxoSmithKline Plc
        17.2.1    Financial Analysis
        17.2.2    Product Portfolio
        17.2.3    Demographic Reach and Achievements
        17.2.4    Mergers and Acquisitions
        17.2.5    Certifications
    17.3    Sanofi Aventis
        17.3.1    Financial Analysis
        17.3.2    Product Portfolio
        17.3.3    Demographic Reach and Achievements
        17.3.4    Mergers and Acquisitions
        17.3.5    Certifications
    17.4    Novartis AG
        17.4.1    Financial Analysis
        17.4.2    Financial Portfolio
        17.4.3    Demographic Reach and Achievements
        17.4.4    Mergers and Acquisitions
        17.4.5    Certifications
    17.5    Pfizer Inc.
        17.5.1    Financial Analysis
        17.5.2    Product Portfolio
        17.5.3    Demographic Reach and Achievements
        17.5.4    Mergers and Acquisitions
        17.5.5    Certifications
    17.6    Takeda Pharmaceutical Company Limited
        17.6.1    Financial Analysis
        17.6.2    Product Portfolio
        17.6.3    Demographic Reach and Achievements
        17.6.4    Mergers and Acquisitions
        17.6.5    Certifications
    17.7    DAIICHI SANKYO COMPANY, LIMITED
        17.7.1    Financial Analysis
        17.7.2    Product Portfolio
        17.7.3    Demographic Reach and Achievements
        17.7.4    Mergers and Acquisitions
        17.7.5    Certifications
    17.8    Mitsubishi Chemical Group Corporation
        17.8.1    Financial Analysis
        17.8.2    Product Portfolio
        17.8.3    Demographic Reach and Achievements
        17.8.4    Mergers and Acquisitions
        17.8.5    Certifications
    17.9    AstraZeneca
        17.9.1    Financial Analysis
        17.9.2    Product Portfolio
        17.9.3    Demographic Reach and Achievements
        17.9.4    Mergers and Acquisitions
        17.9.5    Certifications
    17.10    MASSACHUSETTS BIOTECHNOLOGY COUNCIL
        17.10.1    Financial Analysis
        17.10.2    Product Portfolio
        17.10.3    Demographic Reach and Achievements
        17.10.4    Mergers and Acquisitions
        17.10.5    Certifications
    17.11    Biokangtai
        17.11.1    Financial Analysis
        17.11.2    Product Portfolio
        17.11.3    Demographic Reach and Achievements
        17.11.4    Mergers and Acquisitions
        17.11.5    Certifications
    17.12    Serum Institute of India Pvt. Ltd
        17.12.1    Financial Analysis
        17.12.2    Product Portfolio
        17.12.3    Demographic Reach and Achievements
        17.12.4    Mergers and Acquisitions
        17.12.5    Certifications
    17.13    VBI Vaccines Inc 
        17.13.1    Financial Analysis
        17.13.2    Product Portfolio
        17.13.3    Demographic Reach and Achievements
        17.13.4    Mergers and Acquisitions
        17.13.5    Certifications
    17.14    Fei Biological 
        17.14.1    Financial Analysis
        17.14.2    Product Portfolio
        17.14.3    Demographic Reach and Achievements
        17.14.4    Mergers and Acquisitions
        17.14.5    Certifications
    17.15    Indian Immunologicals Ltd.
        17.15.1    Financial Analysis
        17.15.2    Product Portfolio
        17.15.3    Demographic Reach and Achievements
        17.15.4    Mergers and Acquisitions
        17.15.5    Certifications
List not exhaustive
18    Global Vaccine Market - Distribution Model (Additional Insight)
    18.1    Overview 
    18.2    Potential Distributors 
    18.3    Key Parameters for Distribution Partner Assessment 
19    Key Opinion Leaders (KOL) Insights (Additional Insight)
20    Company Competitiveness Analysis (Additional Insight)

    20.1    Very Small Companies
    20.2    Small Companies
    20.3    Mid-Sized Companies
    20.4    Large Companies
    20.5    Very Large Companies
21    Payment Methods (Additional Insight)
    21.1    Government Funded
    21.2    Private Insurance
    21.3    Out-of-Pocket


*Additional insights provided are customisable as per client requirements.

 

* The coverage of the Market Landscape section depends on the data availability and may cover a minimum of 80% of the total market. The EMR team strives to make this section as comprehensive as possible.

Key Questions Answered in the Report

The market attained a value of about USD 68.07 billion in 2023, driven by the rising prevalence of infectious diseases across the globe.

The market is anticipated to grow at a CAGR of 10.5% during the forecast period of 2024-2032, likely to reach a market value of USD 167.19 billion by 2032.

The market demand is driven by substantial improvements in the healthcare infrastructure and increased awareness about the effectiveness of vaccines in preventing diseases.

The emphasis on treating chronic diseases with the help of vaccinations is a key market trend. In April 2023, a Norwegian biotechnology company, Nykode Therapeutics announced that its cervical cancer vaccine, VB10.16, showed increased survival in advanced cervical cancer patients in a Phase IIa clinical trial.

The market is divided into pneumococcal, influenza, DTP, HPV, MMR, and COVID-19. 

The various end users of vaccines include adults and children.

Recombinant, toxoid, conjugate, and RNA among others, are the vaccine technologies available in the market.

The various distribution channels include hospital and clinical pharmacies, retail pharmacies, and online pharmacies, among others.

The major regions of the market include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

Key players involved in the market are Merck & Co. Inc., GlaxoSmithKline Plc, Sanofi Aventis, Novartis AG, Pfizer Inc., Takeda Pharmaceutical Company Limited, DAIICHI SANKYO COMPANY, LIMITED, Mitsubishi Chemical Group Corporation, AstraZeneca, MASSACHUSETTS BIOTECHNOLOGY COUNCIL, Biokangtai, Serum Institute of India Pvt. Ltd., VBI Vaccines Inc., Fei Biological and Indian Immunologicals Ltd. 

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