Vaccines Market to Grow at a CAGR of 10.5% Over 2025-2032; Growing Demand for Immunization Programs from Health Regulatory Agencies Leads to Market Expansion

The global vaccines market size was valued at USD 86.06 billion in 2024. The market is expected to expand from USD 88.92 billion in 2025 to USD 178.81 billion by 2032, exhibiting a CAGR of 10.5% during the forecast period.

Fortune Business Insights™ presents this information in its report titled, “Vaccines Market Size, Share & Industry Analysis, By Type (Live Attenuated, Inactivated, Recombinant/Conjugate/Subunit, mRNA Vaccine, Viral Vectors Vaccines, Toxoid, and Others), By  Route of Administration (Parenteral and Oral), By Disease Indication (Viral Diseases {Hepatitis A, Hepatitis B, Polio, RSV, Influenza, HPV, Measles/Mumps/Rubella, Rotavirus, Shingles (Herpes Zoster), and Others} and Bacterial Diseases {Pneumococcal Disease, Diphtheria/Tetanus/Pertussis, Meningococcal Disease, and Others}), By Age Group (Pediatric and Adults), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers, and Others), and Regional Forecast, 2025-2032”.

Vaccines are a cost efficient and potential way to safeguard people from various harmful ailments, globally. It aids in eliminating the impacts of life-threatening, harmful and infectious diseases, thus potentially transforming the public health, particularly in developing countries. The vaccine market is noticing a significant growth widely due to the growing occurrence of infectious diseases and the need for immunization programs arranged by health regulatory agencies to enhance the awareness about immunization among individuals.  GSK plc, Sanofi and Pfizer Inc., are a few renowned key players operating in the market.

Mitsubishi Tanabe Pharma Corporation and Pfizer Inc. Partnered to launched GOBIK

In March 2024, Mitsubishi Tanabe Pharma Corporation and Pfizer Inc. collaboratively launched GOBIK in Japan. This is an adsorbed diphtheria-purified pertussis-tetanus-inactivated polio-haemophilus type b conjugate combined vaccine.

Growing Prevalence of Diseases Globally Augments Market Growth

Growing occurrence of bacterial and viral diseases across the globe is one of the most critical factor that drives vaccines market growth. The growing number of vaccines preventable illnesses hamper the well-being of individuals and places, straining the healthcare and social resources rapidly. This emphasis on the importance of immunization, drives market growth. For instance, in March 2023, the Centres for Disease Control and Prevention stated that, around 422 cases of meningococcal diseases were reported in the U.S. This was the highest since 2014, across the country. Hence, the growing number of preventable infectious disease tends to upsurge the need for vaccination and boost the market growth efficiently.

Conversely, the growing manufacturing and development cost of the product hinders market growth.

Top Players Emphasize on Investment in R&D to Strengthen Their Market Presence

The global market is characterized by the presence of a wide range of key players with GSK plc, Pfizer Inc., Sanofi and Merck & Co., Inc. holding a prominent share of the market. Their strong product portfolio and ongoing investments in R&D activities for launching new products supports their market presence.

Notable Industry Development

• February 2025: CSL in partnership with sa-mRNA developer Arcturus Therapeutics received marketing authorization by the European Commission for KOSTAIVE. This is a self-amplifying mRNA COVID-19 vaccine, for individuals 18 years and older.

List of Key Companies Profiled in the Report

• Bavarian Nordic (Denmark)
• GSK plc (U.K.)
• EMERGENT (U.S.)
• Merck & Co., Inc. (U.S.)
• Inovio Pharmaceuticals, Inc. (U.S.)
• Pfizer Inc. (U.S.)
• Sanofi (France)
• CSL (Australia)
• AstraZeneca (U.K.)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/vaccines-market-101769

Further Report Findings

• North America holds the largest vaccines market share, due to the growing awareness about vaccination and immunization among the individuals, presence of key players and a standard government policy associated with health welfare.
• Market growth in Europe is driven by the region’s strong healthcare infrastructure and growing regulatory approvals for various new products. Countries including France and Germany also contribute to market expansion.
• Market expansion in Asia Pacific is propelled by the growing birth rate and the presence of different leading manufacturers as well as suppliers of vaccines across the region. Additionally, government programs to enhance vaccination drives the market growth.
• In terms of disease indication, the viral diseases segment led the market in 2024, due to the growing occurrence of viral infection related illnesses and increase awareness programs by governments.

Table of Segmentation