Global Vaccine Market Edition 2025: Industry Size to Reach USD 136.46 Billion by 2033, CAGR of 9.12%.

Market Overview

The global vaccine market was valued at USD 59.83 Billion in 2024 and is forecast to reach USD 136.46 Billion by 2033, growing at a CAGR of 9.12% during 2025-2033. The growth is supported by rising infectious disease incidences, government vaccination programs, advances in biotechnology like mRNA platforms, and expanding healthcare infrastructure, particularly in developing regions. Asia-Pacific leads with over 38.9% market share in 2024.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Vaccine Market Key Takeaways

• Current Market Size: USD 59.83 Billion in 2024
• CAGR: 9.12%
• Forecast Period: 2025-2033
• Asia-Pacific accounted for the largest market share of over 38.9% in 2024.
• Major growth drivers include government-led vaccination programs, biotechnological advances, and growing awareness on vaccination's importance.
• The U.S. market benefits from strong government support and advanced mRNA vaccine developments.
• Multivalent vaccines dominate with a ~66.7% market share in 2024 due to their efficiency and combined antigen advantage.
• Pediatric segment holds around 56.0% market share in 2024, reflecting focus on childhood immunization.

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Market Growth Factors

The vaccine market is driven by the increasing number of infectious diseases such as the seasonal flu, HPV, and the new viruses like COVID-19, that come up now and then. Through different public and government initiatives such as vaccination programs and international health partnerships, the access and awareness of vaccines have been increased worldwide. In addition, the development of new vaccines through the use of modern technologies such as mRNA and recombinant vaccine platforms has converted the whole vaccine development process to be more effective and to take a shorter time and, thus, has been a major contributor to the market growth. Pharmaceutical companies and global organizations investing in R&D are making sure that there is constant innovation in both preventive and therapeutic vaccines.

Increased health consciousness and better healthcare facilities in developing countries are among the factors that have positively affected the demand for vaccines. The elderly population is also one of the reasons why the demand for adult immunizations is increasing. For instance, in the U.S., the market is being driven by strong government programs such as Vaccines for Children, adult immunization campaigns, advances in biotechnology, and high public awareness. The constant demand for seasonal vaccination against the flu and COVID-19 is another factor that supports the continuous growth and demand for vaccine products.

The strict rules and regulations that are in place globally help the vaccine market by making it safer for the users and of the best quality as well. This means that manufacturers will be compelled to pour a lot of money into research and development for disease-preventive products that have almost no side effects. If there is good and clear communication regarding the vaccine products including the side effects, that will put the customers in a position to make informed decisions and thereby rate of adoption will be accelerated. The incentives provided by the government and healthcare authorities such as subsidies and public awareness campaigns are also a boost to the market's growth.

Market Segmentation

Analysis by Technology:

• Conjugate Vaccines: Effective in infants and young children, especially against bacterial infections; widely used in pediatric programs.
• Inactivated and Subunit Vaccines: Favored for safety and stability, used for influenza, hepatitis B, pertussis; ideal for national immunization.
• Live Attenuated Vaccines: Provide strong long-term immunity; used in measles, mumps, rubella, varicella; key in routine and outbreak control.
• Recombinant Vaccines: Not explicitly described in source.
• Toxoid Vaccines: Not explicitly described in source.
• Others: Not explicitly described in source.
Analysis by Patient Type:
• Pediatric: Accounts for around 56.0% market share in 2024; driven by emphasis on childhood immunization and developing vaccines tailored for children.
• Adult: Not explicitly quantified but acknowledged as growth contributor.

Analysis by Indication:

• Bacterial Diseases: Includes meningococcal, pneumococcal, DPT, tuberculosis, Hib, typhoid, others; driven by rising incidence and improved vaccines.
• Viral Diseases: Includes hepatitis, influenza, HPV, MMR, rotavirus, herpes zoster, varicella, Japanese encephalitis, rubella, polio, rabies, dengue, others.
Analysis by Route of Administration:
• Intramuscular and Subcutaneous Administration: Intramuscular injections deliver vaccines into muscle for efficient uptake; subcutaneous injections administer into fatty tissue beneath skin.
• Oral Administration: Not explicitly detailed.
• Others: Not explicitly detailed.

Analysis by Product Type:

• Multivalent Vaccine: Leads with ~66.7% market share in 2024; combines antigens to reduce injections and simplify schedules.
• Monovalent Vaccine: Not explicitly quantified.
Analysis by Treatment Type:
• Preventive Vaccine: Leads market with ~56.2% share in 2024; designed to proactively protect individuals against diseases.
• Therapeutic Vaccine: Not explicitly quantified.
Analysis by End User:
• Hospitals: Lead with ~57.3% market share in 2024; primary healthcare providers with infrastructure for vaccine storage, distribution, and administration.
• Clinics, Vaccination Centers, Academic and Research Institutes, Others: Not explicitly quantified.
Analysis by Distribution Channel:
• Hospital Pharmacies: Central distribution points with infrastructure and trained staff; ensure vaccine integrity and cold chain adherence.
• Retail Pharmacies, Institutional Sales, Others: Not explicitly quantified.

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Regional Insights

Asia-Pacific dominates the vaccine market with over 38.9% market share in 2024. The region's growth is fueled by burgeoning pharmaceutical and biotechnology sectors, substantial investments in healthcare infrastructure, research, and manufacturing capacities, and a large skilled workforce. Countries like India and China produce vaccines at scale and lower costs compared to Western counterparts, enhancing market expansion. Strategic partnerships and accelerated clinical trial opportunities further boost regional demand.

Recent Developments & News

• February 2025: IAVI and Biofabri began the IMAGINE clinical trial for the MTBVAC tuberculosis vaccine across South Africa, Kenya, and Tanzania, aiming to prevent TB after 1.25 million deaths in 2023.
• December 2024: Valneva and Serum Institute of India entered an exclusive license agreement to expand Valneva's chikungunya vaccine access in Asia, supported by USD 41.3 Million CEPI funding.
• July 2024: GSK and CureVac restructured their collaboration, granting GSK full rights to develop and commercialize mRNA vaccines for influenza and COVID-19.
• May 2024: Sanofi and Novavax signed a co-exclusive licensing agreement for a protein-based COVID-19 vaccine and flu-COVID-19 combos.
• March 2024: Moderna advanced multiple late-stage vaccine programs and secured up to USD 750 Million from Blackstone Life Sciences for flu vaccine development.

Key Players

• Abbott Laboratories
• Astellas Pharma Inc.
• AstraZeneca Plc
• Bharat Biotech International
• Bavarian Nordic A/S
• CSL Limited
• Daiichi Sankyo Company Limited
• Emergent BioSolutions Inc.
• GlaxoSmithKline Plc
• Inovio Pharmaceuticals Inc.
• Johnson & Johnson
• Merck & Co. Inc.
• Mitsubishi Tanabe Pharma Corporation (Mitsubishi
Chemical Holdings Corporation)
• Novavax Inc.
• Panacea Biotec Ltd.
• Pfizer Inc.
• Sanofi Pasteur SA (Sanofi SA)
• Serum Institute of India Pvt. Ltd.
• Takeda Pharmaceutical Company Limited.

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