The global vaccines market is on a robust growth trajectory, projected to rise from USD 42.7 billion in 2023 to USD 80.8 billion by 2033. This expansion, driven by a compound annual growth rate (CAGR) of 6.6% during the forecast period, reflects increasing global focus on immunization programs and advancements in vaccine development technologies.
The vaccines market continues to play a critical role in global healthcare by preventing life-threatening diseases and addressing public health crises. Rising investments in research and development, coupled with the introduction of innovative vaccines targeting infectious diseases, cancers, and chronic illnesses, are key drivers of market growth.
Moreover, government initiatives, international collaborations, and growing awareness about the benefits of vaccination are fueling market expansion. The demand for vaccines has been further accelerated by the need to address emerging infectious diseases and pandemic preparedness, reinforcing the importance of a robust vaccine pipeline.
Key Takeaways:
- The global vaccines market is expected to grow from USD 42.7 billion in 2023 to USD 80.8 billion by 2033, at a CAGR of 6.6%.
- Rising demand for immunization programs and innovative vaccine development is propelling market growth.
- Government initiatives and collaborations are strengthening vaccine accessibility and uptake globally.
- Pandemic preparedness and the fight against emerging infectious diseases highlight the growing importance of vaccines in public health strategies.
The research report on the vaccines market explains that the Covid-19 spread turning into a full-fledged pandemic has fueled the demand for vaccines. Furthermore, governments investing huge capital in progressive healthcare systems are anticipated to expand the vaccine market size.
Government healthcare programs deliver vaccines to infants to provide them with prevention from chronic diseases like tuberculosis, rotavirus, etc. The rise in new diseases like H1B1 infection, and swine flu (H1N1) is pushing the authorities to adopt new methods that help in preventing the diseases.
The vaccines market outlook states that the rising incidence of diseases worldwide is encouraging the adoption of vaccines, thereby creating prospects for the growth of the vaccines market.
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Competition Scenario
Leading players are continuously investing in research and development activities for introducing novel vaccines with long-term efficacy. Besides this, they are adopting growth strategies such as new product launches and approvals, partnerships, acquisitions, and strengthening of distribution channels to expand their global footprint.
Recent Market Developments
- In 2021, MSD Pharmaceuticals, a wholly-owned subsidiary of Merck Sharp & Dohme, launched Gardasil 9, India’s first gender-neutral HPV vaccine.
- In April 2020, the United States Food and Drug Administration (FDA), approved Sanofi’s MenQuadfi vaccine for the prevention of invasive meningococcal diseases in persons aged 2 years and older.
- In 2021, Abbott launched a new inactivated quadrivalent vaccine for influenza in India that offers protection against four virus strains, in India.
Key Contributors to the Vaccines Market
- Merck & Co., Inc
- GlaxoSmithKline
- Pfizer BioNTech
- Sanofi SA
- CSL Limited
- Emergent Biosolutions Inc.
- Johnson & Johnson (J&J)
- AstraZeneca plc
- Bavarian Nordic A/S
- Mitsubishi Tanabe Pharma Corporation.
- Out of these GSK
- Pfizer
- Mark
- Sanofi
Key Segments
By Vaccine Type:
- Inactivated
- Live attenuated
- Recombinant
- Toxoid
- Subunit & Conjugate
By Valance:
- Monovalent
- Multivalent
By Route of Administration:
- Injectable
- Oral
By Indication:
- Influenza
- Pneumococcal Diseases
- Human Papillomavirus
- Meningococcal Diseases
- Rotavirus
- MMR
- Hepatitis
- DTP
- Polio
By Distribution Channel:
- Hospital Pharmacies
- Institutional Sales
- Retail Pharmacies
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- The Middle East & Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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