USD 70.68 Billion
Vaccines Market Size, Share, Growth Analysis, By Technology (Conjugate Vaccines, Recombinant Vaccines), By Type (Multivalent Vaccines, Monovalent Vaccines), By Disease Indication (Pneumococcal Disease, Hepatitis), By Route of Administration (Oral Route, Intranasal Route NAS), By End User (Adult Vaccines, Pediatric Vaccines), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2262 |
Region:
Global |
Published Date: November, 2024
Pages:
212
|Tables:
147
|Figures:
71
Vaccines Market Insights
Global Vaccines Market size was valued at USD 72 billion in 2022 and is poised to grow from USD 74.66 billion in 2023 to USD 99.85 billion by 2031, growing at a CAGR of 3.70% during the forecast period (2024-2031).
Rising prevalence of chronic diseases around the world and growing emphasis on healthcare are projected to bolster the demand for vaccines in the future. Advancements in medical technology and high investments in the research and development of novel vaccines are projected to create new opportunities for vaccines market players over the coming years. Growing emphasis on preventive healthcare will also promote the adoption of vaccines across the study period and beyond. Launch of new immunization programs, growing awareness regarding importance of vaccination, launch of vaccination drives, and advancements in vaccine technology are also projected to create new opportunities for vaccines market players in the long run. On the contrary, misinformation regarding vaccines, high costs of development, and stringent regulatory frameworks are projected to hamper the overall vaccines market development potential in the future.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Subunit Vaccines
Fastest Growth
Viral vector vaccines
Growth Rate
5.7% CAGR
Global Vaccines Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Vaccines Market Segmental Analysis
Global Vaccines Market is segmented by Technology, Type, Disease Indication, Route of Administration, End User, and region. Based on Technology, the market is segmented into Conjugate Vaccines, Recombinant Vaccines, Inactivated & Subunit Vaccines, Live Attenuated Vaccines, Toxoid Vaccines, Viral Vector Vaccines, MRNA Vaccines, and Other Vaccines. Based on Type, the market is segmented into Multivalent Vaccines, and Monovalent Vaccines. Based on Disease Indication, the market is segmented into Pneumococcal Disease, Influenza, Combination Vaccines, HPV, Meningococcal Disease, Herpes Zoster, Rotavirus, MMR, Varicella, Hepatitis, DTP, Polio, RSV, and Other Disease Indications. Based on Route of Administration, the market is segmented into Oral Route (PO), Intranasal Route (NAS), Subcutaneous Route (Subcut), Intramuscular Route (IM). Based on End User, the market is segmented into Adult Vaccines, and Pediatric Vaccines. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Type
mRNA vaccines are projected to spearhead the global vaccines market growth potential. Advancements in mRNA technologies and rising awareness regarding efficacy of mRNA vaccines are helping this segment maintain a high market share. The high adaptability of mRNA vac of mRNA vaccines to new viruses and bacterial genomes is what is driving its popularity around the world. The global success of mRNA COVID vaccines is a testament to how opportune this segment can be for market players in the future.
On the other hand, the surging prevalence of infectious diseases around the world is projected to bolster the demand for subunit vaccines at a rapid pace over the coming years. Rising emphasis on preventive healthcare will be a prime factor in promoting sales of subunit vaccines in the future. Moreover, these vaccines can also be developed and adjusted for chronic diseases whose prevalence is rising rapidly on a global level.
Analysis by Age Group
Demand for vaccines for adults is projected to account for a massive share of the global market. Rising emphasis on vaccination of adults to new diseases and growing awareness regarding importance of vaccination is helping this segment maintain a dominant stance going forward. Surging awareness regarding preventive healthcare around the world will also promote the use of vaccines among adults in the future.
Meanwhile, the demand for vaccines pediatric population is projected to increase at a rapid pace over the coming years. Growing birth rates around the world and rising emphasis on vaccination from several diseases such as polio and hepatitis are forecasted to bolster market growth via this segment in the future. Launch of new programs and initiatives to promote vaccination among kids will also help boost the sales of vaccines in this segment going forward.
Global Vaccines Market By Age Group
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Vaccines Market Regional Insights
The Asia Pacific region is projected to account for a dominant share of the global vaccines demand outlook. Growing awareness regarding importance of vaccination and launch of new vaccination programs are projected to help this region maintain high market share. Rising healthcare expenditure, growing availability of novel vaccines, and rising emphasis on preventive healthcare are key factors that contribute to the dominance of this region. Rising birth rates and growing geriatric population will also offer new opportunities for vaccines companies. India and China are slated to be the most rewarding markets for vaccine providers in this region.
The demand for vaccines in North America is estimated to rise at a robust pace over the coming years. Launch of new government initiatives to promote immunization and awareness regarding preventive healthcare are slated to boost sales of vaccines in the future. The United States is projected to spearhead revenue generation in this region owing to the presence of a developed healthcare infrastructure and key vaccine development companies. Rising investments in medical R&D are also expected to help this region remain a highly opportune for all market players.
Global Vaccines Market By Region
- Largest
- Fastest
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Vaccines Market Dynamics
Drivers
Rising Awareness Regarding Preventive Healthcare
- Surge in incidence of infectious and chronic diseases around the world has increased awareness regarding preventive healthcare among people around the world, which in turn, is forecasted to benefit sales of vaccines. As vaccines help in preventing the disease before it becomes a major issue for human health.
Development of Novel Vaccines
- Healthcare institutions around the world are investing heavily in the development of novel vaccines for different disease indications. These high investments in R&D are projected to bolster the demand for vaccines over the coming years and drive market growth going forward.
Restraints
High Costs of Development
- Developing a vaccine is a highly complex process involving rigorous clinical trials and testing. This results in high costs of development for vaccine companies and thereby slows down market growth potential as well.
Stringent Regulations for Vaccine Development
- Vaccines are subject to some of the most strict regulations to ensure their safety for use. However, this stringent regulatory framework slows down the development and commercialization process resulting in longer time-to-market and impeding vaccines demand outlook as well.
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Vaccines Market Competitive Landscape
Investing in the development of vaccines for different diseases could help companies expand their business scope. Taking advantage of supportive government initiatives will help vaccines market players keep their development costs low. Vaccines companies can also benefit from the launch of new immunization programs and vaccine drives around the world. Incorporating advanced technologies and gaining approvals for novel vaccines will also be key focus of all companies.
Top Player’s Company Profiles
- GSK Plc (UK)
- Merck & Co., Inc. (US)
- Pfizer Inc. (US)
- Sanofi (France)
- CSL (Australia)
- Emergent (US)
- Johnson & Johnson Services, Inc. (US)
- AstraZeneca (UK-Sweden)
- Serum Institute of India Pvt., Ltd. (India)
- Bavarian Nordic (Denmark)
- Mitsubishi Tanabe Pharma Corporation (Japan)
- Daiichi Sankyo Company, Limited (Japan)
- Panacea Biotec (India)
- Biological E Limited (India)
- Bharat Biotech (India)
- Novavax (US)
- Inovio Pharmaceuticals (US)
- Sinovac (China)
- Incepta Pharmaceuticals Ltd. (Bangladesh)
- Valneva SE (France)
- VBI Vaccine Inc. (US)
- Bio Farma (Indonesia)
- Microgen (Russia)
- ZHI FEI Biological (China)
- Indian Immunologicals Limited (India)
Recent Developments
- Bharat Biotech announced the launch of an oral cholera vaccine in India in partnership with Hilleman in September 2024. The companies revealed that they have a capacity to produce around 200 million doses and are focusing on acquiring global distribution approvals.
- Recently, clinical trials for the first lung cancer vaccine were initiated in the United Kingdom in August 2024. BioNTech was behind the development of this novel vaccine and aims to reduce mortality rates of lung cancer that are increasing rapidly around the world.
- Indian Immunologoicals Ltd. announced the launch of India’s first indigenously developed Hepatitis A vaccine in January 2024 in Hyderabad, India. The company aimed at reducing the prevalence of Hepatitis A in the country which is becoming a grave public health concern.
Vaccines Key Market Trends
- Personalized Vaccines: Vaccine companies can focus on the development of personalized vaccines to maximize their business scope and improve patient outcomes as well. Growing popularity of personalized medicine and advancements in healthcare technology will create new opportunities for personalized vaccine providers in the future.
- Combination Vaccines: The emergence of multiple chronic and infectious diseases is projected to bolster the demand for vaccines that are capable of eliminating all risks. Combination vaccines are vaccines that are capable of safeguarding people from multiple disease indications. They also reduce the number of vaccination shots required thereby creating new opportunities.
Vaccines Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing prevalence of chronic diseases and rising emphasis on preventive healthcare are projected to boost sales of vaccines over the coming years. However, high costs of development and strict regulatory framework are projected to impede vaccines market development potential. Asia Pacific region is projected to spearhead sales of vaccines owing to the presence of a massive population base and growing awareness regarding vaccination. Development of combination and personalized vaccines will offer new opportunities for vaccines companies across the study period and beyond.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 72 billion |
| Market size value in 2031 | USD 99.85 billion |
| Growth Rate | 3.70% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Vaccines Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Vaccines Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Vaccines Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Vaccines Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Vaccines Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Vaccines Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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