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Vaccines Market is projected to hold a value of US$ 42.7 billion in 2023 | Future Market Insights

[332 Pages Report] During the forecast period, the vaccines market is expected to expand its borders at an average CAGR of 6.6%. The market is anticipated to reach a value of US$ 80.8 billion by 2033 after being valued at US$ 42.7 billion in 2023.

Attributes Details
Vaccines Market CAGR (2023 to 2033) 6.6%
Vaccines Market Size (2023) US$ 42.7 billion
Vaccines Market Size (2033) US$ 80.8 billion

Experts warn that future pandemics and outbreaks might be even more deadly than COVID-19. Diseases could arise primarily based on pathogens into human, animal, or plant populations for terrorist goals. The expanding presence of infectious diseases will ensure a continuous and growing demand for vaccines in the coming years.

Furthermore, the advent of new diseases will result in increased R&D spending, a robust pipeline, and new vaccination prospects for significant populations.

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Due to their large patient populations and rising disposable incomes, emerging regions such as India, China, and Southeast Asia provides an attractive potential for the vaccination business. Major market companies have been enticed to engage in these economies because of their growth potential.

As per emerging vaccines market trends, various organizations and institutions, such as GAVI, are also working to improve vaccine use in impoverished countries, for example, by distributing vaccines at reasonable prices. As a result, these countries have become vital growth hotspots in the vaccine market.

Another vaccines marketing strategy is the rise in low-cost vaccinations. To expand the reach of immunization programmes in these economies, companies are investing in and focusing on creating inexpensive, low-cost vaccines.

Vaccines have a greater storage and distribution cost than any other pharmaceutical product because they require specific equipment and monitoring systems. Vaccine quality might be harmed by a lack of suitable storage and delivery facilities. As a result, vaccines market share is being stifled by the heavy price of vaccine production and storage.

Key Takeaways:

  • The high prevalence of infectious illnesses, government organizations’ continued growth in vaccine development, market participants’ expanding R&D investments, and mandated reporting are some of the essential drivers propelling the sales for vaccines globally.
  • The substantial proportion of this category in the vaccines market is ascribed to the release of new multivalent vaccines, increased funding by critical players in multivalent vaccine R&D, and technological innovations in multivalent vaccine development.
  • The vaccines market report states that the influenza category is expected to grow fastest. The global consumption of influenza vaccines is supported by rising knowledge of the necessity of influenza vaccination, increased government initiatives to prevent influenza, and more clinical studies.
  • The vaccines market trends state that intramuscular vaccine delivery is expected to grow the fastest. The convenience of intramuscular injection propels the segment, and the fast absorption of vaccines is provided in this way.

Speak to our Research Expert:

“The high frequency of diseases, increased government immunization campaigns, technological advancements in the vaccine business, a solid vaccine pipeline, and the advent of the COVID-19 pandemic are all factors to consider,” opines an FMI analyst.

Comparative View of Adjacent Vaccines Market

Attributes Vaccines Market Veterinary Vaccines
COVID-19 Vaccines
CAGR (2022 – 2032) 10% 7% -15%
Market Value (2026) US$ 67 Bn US$ 12 Bn US$ 1.4 Bn
Growth Factor Increasing focus on immunization of the populace to underpin growth. Demand for animal-based plant product generates high adoption of veterinary vaccines. Rising investments towards COVID-19 vaccine development to drive significant growth.
Opportunity Investments from governments to support vaccine development. Increasing initiatives taken by governments to improve animal health creates opportunity for market players. Increasing focus on improving the efficiency of COVID-19 vaccines.
Key Trends Development of vaccines with low response time to get better exposure. Rising focus on technological innovations to offer opportunities. Investment towards R&D activities to underpin opportunities.

Competitive Landscape:

Sanofi (France), Daiichi Sankyo Co., Ltd. (Japan), Merck & Co., Inc. (US), GlaxoSmithKline plc (UK), Johnson & Johnson (US), CSL Limited (Australia), Emergent BioSolutions Inc. (US), Pfizer Inc. (US), and AstraZeneca PLC have the highest market share by the company as highlighted in the global vaccines market report.

  • In August 2021, GlaxoSmithKline plc filed a Biologics License Application (BLA) with the US Food and Drug Administration (FDA) for their investigational vaccine PRIORIX, which seeks authorization to be used against measles, mumps, and rubella (MMR) in the United States. The vaccine was first licensed in Germany and is now approved in more than 100 countries around the world.
  • INOVIO Pharmaceuticals announced in June 2021 that it is expanding its collaboration with Advaccine Biopharmaceuticals Suzhou Co Ltd. to conduct a Phase 3 trial for their investigational COVID-19 DNA vaccine INO-4800, in patients aged 18 and up in several countries, particularly in Latin America and Asia.

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Vaccines Market Key Segments
By Technology:

  • Conjugate Vaccines
  • Inactivated and Subunit Vaccines
  • Live attenuated Vaccines
  • Recombinant Vaccines
  • Toxoid Vaccines
  • Viral Vector Vaccines

By Type:

  • Monovalent Vaccines
  • Multivalent Vaccines

By Route of Administration:

  • Intramuscular & Subcutaneous Administration
  • Oral Administration
  • Other routes (Intranasal, Intradermal and Percutaneous)

By Disease Indication:

  • Influenza
  • Pneumococcal Diseases
  • Combination Vaccines
  • HPV
  • Herpes Zoster
  • Meningococcal Diseases
  • Rotavirus
  • MMR
  • Varicella
  • Hepatitis
  • DTP
  • Polio
  • Covid-19
  • Other Disease Indications (Cancer, Dengue, Tuberculosis, Typhoid, Japanese Encephalitis, Rabies, Yellow Fever, and Allergies)

By End User:

  • Pediatric Vaccines
  • Adult Vaccines

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Last Updated: 06-Jun-2023