Vaccines Market: Analysis of Size, Shares, Business Growth, and Upcoming Trends Forecast 2025-2032 | GlaxoSmithKline plc (GSK) and Merck & Co., Inc.

The vaccines industry continues to be a critical pillar in global public health, driven by ongoing innovations and heightened awareness of infectious diseases. Increasing government initiatives and rising demand for immunization programs across both developed and emerging economies are fueling significant investments. The Global Vaccines Market size is estimated to be valued at USD 81.91 billion in 2025 and is expected to reach USD 124.88 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.2% from 2025 to 2032. This market growth is supported by expanding production capacities and evolving market dynamics, which are shaping the competitive landscape and business growth strategies of market companies worldwide. The growing market revenue and industry share of vaccines highlight the expanding market scope and opportunities amid persistent market challenges.

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➤Actionable Insights

● Increasing production capacity has emerged as a key supply-side indicator, with leading manufacturers scaling up vaccine production to meet surging global demand. For instance, in 2024, vaccine production volumes increased by over 15% globally, reflecting intensified capacity expansions in Asia Pacific and North America.
● Pricing dynamics continue to influence market share, as tiered pricing strategies adopted in emerging markets have enhanced accessibility without compromising profitability. Data from 2025 reveals a 7% average price adjustment in low- and middle-income countries, facilitating broader immunization coverage.
● Demand-side indicators such as diverse use cases across infectious diseases are driving market growth. The expanded application of mRNA vaccines beyond COVID-19, particularly targeting influenza and RSV, contributed to a 12% increase in vaccine uptake globally in 2025.
● Import volumes surged by 9% in 2024, particularly in Latin America and Africa, reflecting increased reliance on cross-border supply chains to ensure vaccine availability. This import trend underscores the importance of international trade in shaping market revenue and industry size.

➤Market Segment and Regional Coverage

● By Vaccine Type: Live Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, mRNA Vaccines, and Others.
● By Application: Human Vaccines, Veterinary Vaccines, and Others.
● By End-User: Hospitals, Clinics, Research Institutes, and Others.
Regional and Country Analysis:
● North America: U.S. and Canada
● Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
● Europe: Germany, U.K., Spain, France, Italy, Benelux, Denmark, Norway, Sweden, Russia, and Rest of Europe
● Asia Pacific: China, Taiwan, India, Japan, South Korea, Indonesia, Malaysia, Philippines, Singapore, Australia, and Rest of Asia Pacific
● Middle East & Africa: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, Israel, South Africa, North Africa, Central Africa, and Rest of MEA

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➤Key Players

● GlaxoSmithKline plc (GSK)
● Merck & Co., Inc.
● Pfizer Inc.
● Sanofi
● Moderna, Inc.
● AstraZeneca
● Johnson & Johnson
● Novavax, Inc.
● CSL Limited
● Emergent BioSolutions Inc.
● Bharat Biotech
● Serum Institute of India
● BioNTech SE
● Takeda Pharmaceutical Company
● Sinovac Biotech Ltd.
● Sinopharm (China National Pharmaceutical Group)
● Vaxart, Inc.
● Inovio Pharmaceuticals, Inc.
● Valneva SE
● Vaccitech plc
● Competitive strategies such as strategic collaborations and mergers have been pivotal. For example, Pfizer's alliance with BioNTech to develop mRNA vaccines resulted in accelerated vaccine approvals and expanded market reach, significantly increasing combined market share by 8% in 2025. Similarly, Serum Institute of India's partnership with global health organizations enabled rapid scale-up in production capacity, boosting their revenue streams by 20% in 2024.

➤Growth factors

● The market growth is primarily driven by increasing prevalence of infectious diseases and government immunization programs. For example, the WHO reported a 10% rise in vaccination campaigns in low-income countries in 2024, directly contributing to increased vaccine demand.
● Technological advancements in vaccine development, including mRNA and vector-based vaccines, have accelerated product pipeline expansions, supporting a 14% increase in new vaccine launches in 2025.
● Rising awareness about preventive healthcare and increasing healthcare expenditure in emerging economies are catalyzing market revenue growth. Asia Pacific recorded a 9% rise in healthcare spending on vaccines in 2024, reinforcing the market's upward trajectory.

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➤ Market Trends

● The adoption of mRNA vaccine technology continues to dominate industry trends, with its applications extending beyond COVID-19 to influenza and cancer vaccines, accounting for a 25% share of new vaccine approvals in 2025.
● Digital transformation in vaccine supply chains is enhancing traceability and distribution efficiency, reducing wastage by 18% globally in 2024.
● Increasing public-private partnerships are fostering innovation and market expansion, exemplified by AstraZeneca's collaborations with governments to supply vaccines under subsidized programs, leading to a 12% increase in market share in emerging regions.

➤Market Opportunities

● Expansion in mRNA Vaccines Segment: The mRNA vaccine segment offers significant growth potential due to its rapid development cycle and versatility. Market projections indicate this segment will grow at a CAGR exceeding 10% through 2032, driven by ongoing research in infectious and non-infectious diseases.
● Human Vaccines Application: The human vaccines segment continues to dominate market revenue, with increasing demand for pediatric and adult immunization programs creating lucrative opportunities, particularly in developed countries with aging populations.
● Emerging Economies in Asia Pacific: Asia Pacific presents substantial regional opportunities, fueled by rising healthcare infrastructure investments and government initiatives in countries like India and China, which recorded a 15% increase in vaccine procurement in 2025.
● Veterinary Vaccines Segment: Growth in livestock farming and zoonotic disease control is expanding the veterinary vaccines market, anticipated to grow at a CAGR of 7% from 2025 to 2032, driven by rising demand in Latin America and Africa.

❓ Frequently Asked Questions

1. Who are the dominant players in the Vaccines Market?
The dominant players include GlaxoSmithKline plc, Merck & Co., Pfizer Inc., and Moderna, Inc., among others. These companies lead through innovation, strategic partnerships, and expanded production capacities that have significantly increased their market share in recent years.

2. What will be the size of the Vaccines Market in the coming years?
The Vaccines Market is projected to grow from USD 81.91 billion in 2025 to USD 124.88 billion by 2032, with a CAGR of 6.2%, driven by rising immunization programs and technological advancements in vaccine development.

3. Which end-user industry has the largest growth opportunity?
The human vaccines segment offers the largest growth opportunity, particularly in hospitals and clinics, due to expanding vaccination programs and increased focus on adult immunization worldwide.

4. How will market development trends evolve over the next five years?
Market development will be characterized by increased adoption of mRNA technology, digitalization of supply chains, and enhanced public-private collaborations, resulting in improved vaccine accessibility and faster market growth.

5. What is the nature of the competitive landscape and challenges in the Vaccines Market?
The competitive landscape is highly dynamic, with key market players focusing on innovation, strategic mergers, and geographic expansion. Challenges include regulatory hurdles, supply chain complexities, and pricing pressures in emerging markets.

6. What go-to-market strategies are commonly adopted in the Vaccines Market?
Common strategies include strategic alliances, licensing agreements, tiered pricing models, and investments in local manufacturing facilities to enhance market penetration and manage market restraints effectively.

Author of this marketing PR :
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.

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This release was published on openPR.