Vaccine Market, By Type (Subunit & Conjugate Vaccine, Live Attenuated Vaccine, Inactivated Vaccine, Recombinant Vaccine, Toxoid Vaccine, and Next-generation Vaccine), By Disease Type (Pneumococcal Disease, Diphtheria, Tetanus, & Pertussis (DTP), Influenza, Cancer, Human Papilloma Virus (HPV), and Other Diseases), By Route of Administration (Intramuscular (IM) Vaccine, Subcutaneous Vaccine, Oral Vaccine, Intravenous (IV) Vaccine, and Other Vaccines), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

Vaccine Market accounted for US$ 50.07 billion in 2020 and is estimated to be US$ 102.97 billion by 2030 and is anticipated to register a CAGR of 7.50%.

Vaccines are used to protect individuals against deadly diseases. Immunity is produced by vaccines by injecting agents and components inside the body. Vaccines highly decrease the chances of infection by working with the natural defense of the body to safely develop immunity to a disease. Vaccines are manufactured for the control of the endemic situation and at the time of the outbreak of the disease. They are also developed based on the type of information about the disease. Adjuvants are used in the vaccine to increase the immune response and improve the efficiency of the vaccine. There are various safety and efficacy issues associated with the vaccines. Moreover, to deal with these problems, next-generation vaccines are developed. Currently, next-generation vaccines are in the product pipeline which includes recombinant viral vector vaccines, DNA vaccines, and individualized vaccines. Individualized vaccines are developed based on the genotype and phenotype immune response of an individual. 

Increasing incidence of infectious disease

Increasing incidence of infectious disease globally is the major driving factor for the global vaccine market growth. Also, growing population, increase in health expenditure, ageing population, rising awareness regarding healthcare, rising cases of viral infection are the factors projected to propel the growth of the global market over the forecast period.

Funding for R&D by government

Major players in the vaccines market are focusing on creating a strong network of distributors and deals. Local authority and government of various countries are funding for R&D activities of vaccines. Players are partnering with other vaccines manufactures, to boost their product portfolio as well as to expand its global presence. As many governments across the world recognize the benefits of vaccination, the trend of vaccines delivering in healthcare solutions on a large scale is continuing. However, longer timelines required to produce vaccines and high monetary inputs linked with the same restrictions the target market growth. Nevertheless, the high growth of vaccine production in emerging markets is anticipated to offer numerous growth opportunities over the forecast period.

vaccine market is segmented based on type, disease type, route of administration, and region.

Based on type, the global vaccine market is segmented into subunit & conjugate vaccine, live attenuated vaccine, inactivated vaccine, recombinant vaccine, toxoid vaccine, and next-generation vaccine. Based on disease type, the target market is classified into pneumococcal disease, diphtheria, tetanus, & pertussis (DTP), Influenza, Cancer, Human papillomavirus (HPV), and other diseases. Based on the route of administration, the global market is segmented into the intramuscular (IM) vaccine, subcutaneous vaccine, oral vaccine, intravenous (IV) vaccine, and other vaccines.

Regional Insights:

For detailed understanding of market dynamics, based on the region the global vaccine market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to dominate the global vaccines market, owing to high healthcare expenditure, rising awareness regarding prevention of diseases, and developed medical infrastructure in the region. Whereas, the market in the Asia Pacific is projected to be an emerging market for vaccines and is expected to register the highest CAGR in over the forecasted period. This is mainly attributed due to increasing incidence of viral and infectious disease and the growing geriatric population.

Vaccine Market Detailed Segmentation:

Detailed Segmentation:

Vaccine Market, By Type:

• Subunit & Conjugate Vaccine
• Live Attenuated Vaccine
• Inactivated Vaccine
• Recombinant Vaccine
• Toxoid Vaccine
• Next-generation Vaccine

Vaccine Market, By Disease Type:

• Pneumococcal Disease
• Diphtheria, Tetanus, & Pertussis (DTP)
• Influenza
• Cancer
• Human Papilloma Virus (HPV)
• Other Diseases

Vaccine Market, By Route of Administration:

• Intramuscular (IM) Vaccine
• Subcutaneous Vaccine
• Oral Vaccine
• Intravenous (IV) Vaccine
• Other Vaccines

Vaccine Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the global vaccine market involves Abbott Laboratories, Inc., AstraZeneca Plc, BiondVax Pharmaceuticals Ltd., Merck & Co., Inc., Bavarian Nordic, CSL Limited, Daiichi Sankyo Company, Emergent BioSolutions, Inc., GlaxoSmithKline Plc, and Inovio Pharmaceuticals, Inc. Prominent players operating in the target market are focusing on strategic partnerships as well as the launching of the products to gain a competitive edge in the target market. For instance, in 2017, Merck & Co. collaborated with Premier, Inc. (U.S) to develop a preventive care model. The collaboration was based to improve adolescent and adult vaccination rates.

• In June 2024, Two-in-one flu and Covid jab passed advanced trial. Drug Company Moderna said its combined flu and Covid vaccine, which targets the two diseases in a single shot, has passed a vital part of final-stage scientific checks. The phase-three trial shows the vaccine arms the body with protective antibodies.
• In June 2024, The HPV vaccine reduces risk of cancer for all, not just women, new data show. The HPV vaccine not only prevents cervical cancer but reduces the risk of multiple other cancers and even pre-malignant lesions.
• In April 2024, Statement on the antigen composition of COVID-19 vaccines. The TAG-CO-VAC recommended use a monovalent JN.1 lineage as the antigen in future COVID-19 vaccine formulations due to the virus's ongoing evolution from JN.1. As per WHO SAGE policy, vaccination programs should continue using existing emergency-use listed or prequalified COVID-19 vaccines, and vaccination should not be delayed in anticipation of access to updated vaccines.

• Abbott Laboratories Inc.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
• AstraZeneca Plc
• BiondVax Pharmaceuticals Ltd.
• Merck & Co., Inc.
• Bavarian Nordic
• CSL Limited
• Daiichi Sankyo Company
• Emergent BioSolutions, Inc.
• GlaxoSmithKline Plc
• Inovio Pharmaceuticals, Inc