"We Envision Growth Strategies Most Suited
to Your Business"

Vaccines Market to Reach USD 122.27 Billion by 2030; Increase in Immunization Awareness to Fuel Market Progress

February 28, 2024 | Healthcare

The global vaccines market size stood at USD 119.05 billion in 2022. The market is predicted to rise from USD 78.27 billion in 2023 to USD 122.27 billion by 2030, recording a CAGR of 6.6% from 2023 to 2030.


Fortune Business Insights™ presents this information in its report titled, Vaccines Market Size, Share & COVID-19 Impact Analysis, By Type (Recombinant/Conjugate/Subunit, Inactivated, Live Attenuated, Viral Vector, mRNA, Toxoid, and Others), By Route of Administration (Parenteral and Oral), By Disease Indication (Viral Diseases {Hepatitis, Influenza, Human Papillomavirus, Measles/Mumps/Rubella, Rotavirus, Herpes Zoster, and Others}, and Bacterial Diseases {Meningococcal Disease, Pneumococcal Disease, Diphtheria/Tetanus/Pertussis, and Others}), By Age Group (Pediatric and Adults), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers, and Others), and Regional Forecast, 2023-2030.  


Vaccines are the most effective way to safeguard billions of people globally. An increase in immunization awareness and government initiatives is expected to boost market expansion in the coming years. Increased investments, mergers, and partnerships of companies are boosting the manufacturing and sales of products globally.


Increasing Introduction and Approval of Vaccines Amid Pandemic Fueled Market Growth


The COVID-19 pandemic had a favorable effect on the vaccines market growth. Greater investments for R&D against diseases amid the pandemic supported market expansion. A rise in the introduction and approval of vaccines fueled market growth during the COVID-19 outbreak.


GSK Acquired a Clinical-stage Biopharmaceutical Company, Affinivax, Inc.


In August 2022, GSK acquired a clinical-stage biopharmaceutical company, Affinivax, Inc., predominantly producing new next generation pneumococcal vaccine. The company is focusing on increasing its product portfolio through this acquisition.


Strong Supply of Products and R&D Efforts to Foster Market Growth


A rise in the global supply of products to fulfill the requirements of immunization policies to avoid endemic diseases is fostering market growth. Growing focus on regular immunizations and offering cost-effective immunization to people globally by government foundations, hospitals and pharmaceutical companies is propelling market expansion. Government surveillance in all countries has become active to check that every person is vaccinated at a minimum or no cost. Market growth is driven by increasing government funding and company investments in the R&D sector to introduce novel products.


On the other hand, high costs associated with the per-dose vaccine volume is hampering market growth.


Key Companies Focus on Resolving Unmet Requirements in Eradicating Complex Diseases Through Vaccination


GlaxoSmithKline plc, Sanofi, Pfizer Inc., and Merck & Co., Inc. are some of the leading companies in the market. They have a strong product portfolio and the capability of strategic decisions. These players focus on resolving the unmet requirements in eradicating complex diseases through vaccination. For instance, Prevnar 13 of Pfizer and Polio/Pertussis/Hib of Sanofi are potential products in the market.


Notable Industry Development



  • August 2021: Sanofi acquired a clinical-stage mRNA therapeutics company called Translate Bio for the advancement of new and seasonal vaccines for influenza.


List of the Companies Profiled in the Report:



  • GlaxoSmithKline plc. (U.K.)

  • Sanofi (France)

  • Pfizer Inc.  (U.S.)

  • Merck & Co., Inc. (U.S.)

  • Novartis AG (Switzerland)

  • Emergent BioSolutions, Inc. (U.S.)

  • CSL Limited (Australia)

  • Inovio Pharmaceuticals, Inc. (U.S.)

  • Bavarian Nordic (Denmark)

  • Mitsubishi Tanabe Pharma Corporation (Japan)


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:



  • The market in North America was valued at USD 40.94 billion in 2022. The presence of strong producers is driving market growth in the region.



  • The market in Asia Pacific is set to witness tremendous growth in the market over the forecast period owing to economic development and rapid immunization.

  • The market in Latin America and the Middle East & Africa are expected to register growth prospects due to the growing prevalence of chronic diseases that require vaccination.

  • Based on type, the recombinant/conjugate/subunit segment is set to have a higher CAGR due to the accessibility of different delivery system options. 

  • By route of administration, the parenteral segment dominated the vaccines market share. Greater supply and sales of the parenteral route globally are driving segment growth.


Table of Segmentation





















































ATTRIBUTE



DETAILS



Study Period



2019-2030



Base Year



2022



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 6.6% from 2023-2030



Unit



Value (USD Billion)



Segmentation



By Type



  • Recombinant/Conjugate/Subunit

  • Inactivated

  • Live Attenuated

  • Viral Vector

  • mRNA

  • Toxoid

  • Others



By Route of Administration



  • Parenteral

  • Oral



By Disease Indication



  • Viral Diseases


    • Hepatitis

    • Influenza

    • Human Papillomavirus

    • Measles/Mumps/Rubella

    • Rotavirus

    • Herpes Zoster

    • Others


  • Bacterial Diseases


    • Meningococcal Disease

    • Pneumococcal Disease

    • Diphtheria/Tetanus/Pertussis

    • Others




By Age Group



  • Pediatric

  • Adults



By Distribution Channel



  • Hospital & Retail Pharmacies

  • Government Suppliers

  • Others



By Region



  • North America (By Type, Route of Administration, Disease Indication, Age Group, Distribution Channel, and Country)


    • U.S. (By Type)

    • Canada (By Type)


  • Europe (By Type, Route of Administration, Disease Indication, Age Group, Distribution Channel, and Country/Sub-region)


    • U.K. (By Type)

    • Germany (By Type)

    • France (By Type)

    • Italy (By Type)

    • Spain (By Type)

    • Scandinavia (By Type)

    • Rest of Europe (By Type)


  • Asia Pacific (By Type, Route of Administration, Disease Indication, Age Group, Distribution Channel, and Country/Sub-region)


    • China (By Type)

    • Japan (By Type)

    • India (By Type)

    • Australia (By Type)

    • Southeast Asia (By Type)

    • Rest of Asia Pacific (By Type)


  • Latin America (By Type, Route of Administration, Disease Indication, Age Group, Distribution Channel, and Country/Sub-region)


    • Brazil (By Type)

    • Mexico (By Type)

    • Rest of Latin America (By Type)


  • Middle East & Africa (By Type, Route of Administration, Disease Indication, Age Group, Distribution Channel, and Country/Sub-region)


    • GCC (By Type)

    • South Africa (By Type)

    • Rest of the Middle East & Africa (By Type)



Vaccines Market
  • PDF
  • 2022
  • 2019-2021
  • 156

    CHOOSE LICENSE TYPE

  • 4850
    5850
    6850

Our Clients

Siemens
Kpmg
Grifols
Lek
Yahoo
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X