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

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).

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. '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)'

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.

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.

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.