Vaccines Market Size & Share, by Type (Inactivated, Recombinant, Live Attenuated, Toxoid); Administration Route (Oral, Parenteral); Age Group (Adults, Pediatric); Application {Viral Diseases (Influenza, Hepatitis, Herpes Zoster, Rubella, Rotavirus), Bacterial Diseases (Diphtheria, Meningococcal, Pneumococcal)}; Distribution Channel (Government Supplier, Hospitals) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 1399
  • Published Date: Feb 06, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Vaccines Market estimated to garner remarkable revenue by the end of 2033, growing at a CAGR of 8% during the forecast period, i.e., 2023-2033. In the year 2022, market generated impressive revenue. The growth of the market can primarily be accounted to the robust prevalence of COVID-19 across the globe. World Health Organization (WHO) stated that at 5:39 pm CEST, September 23, 2022, 611,421,786 new cases of COVID-19 were confirmed.

Global vaccines market trends such as, the rising penetration of diseases that requires vaccination is projected to influence the growth of the market positively over the forecast period. For instance, UNICEF released a list showing the list of diseases cured by vaccines and some of the diseases are diphtheria, tetanus, Hemophilic, rotavirus, measles & mumps, and others. A noteworthy growth in the cases of mump disease has been observed in the recent decade. As of 2020, around 140 cases of mumps from 30 health departments were reported in the USA. Additionally, up surged government initiatives and investments to develop vaccines and exponential growth in the health care expenditure worldwide are further projected to hike the growth of the market over the forecast period.

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Vaccines Sector: Growth Drivers and Challenges

Growth Drivers

  • Mounting Administration of COVID-19 Vaccine to Boost the Market Growth
  • As per the data released by the World Health Organization (WHO), it was shown that as of September 19, 2022, nearly 12,640,866,343 doses of vaccine were administered globally.
  • COVID-19 has been designated as one of the most life-threatening diseases that accounted for millions of deaths worldwide and ruined the economy of multiple countries. Hence, such a higher prevalence of death due to COVID-19 was set to boost the demand for vaccines to ease the circumstances. Multiple companies across the globe are constantly developing vaccines to entirely cure the symptoms of COVID-19. Therefore, all these factors are expected to hike the growth of the market over the forecast period.
  • Growing Demand for Vaccines to Cure Hepatitis B
  • As of 2019, approximately 30 million people were estimated to be living with hepatitis B, while around 800,000 people die due to hepatitis B every year.
  • Increasing Cases of Tuberculosis Across the Globe
  • For instance, nearly 10 million people were projected to be suffering from tuberculosis (TB) in 2020, out of which, nearly 3 million were women and 5 million were men.
  • Rising Government Initiative to Prevent Poliovirus
  • On account of significant vaccination procedures, the cases of poliovirus are estimated to be decreased by approximately 98% affecting only 1 child out of 5 under the age of 5 years.
  • Significant Requirement to Prevent Pneumococcal Pneumonia
  • It is observed that pneumococcal pneumonia accounted for around 3000 deaths solely in the USA.


  • Requirement for Higher Initial Investment
  • Long-Lasting and Costly Procedure of R&D of the Vaccine
  • Higher Possibility of Failure and Side-Effects 

Vaccines Market: Key Insights

Base Year


Forecast Year




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Vaccines Segmentation

Application {Viral Diseases (Influenza, Hepatitis, Herpes Zoster, Rubella, Rotavirus), Bacterial Diseases (Diphtheria, Meningococcal, Pneumococcal)}

The global vaccines market is segmented and analyzed for demand and supply by application into viral diseases (influenza, hepatitis, herpes zoster, rubella, rotavirus, and others), and bacterial diseases (diphtheria, meningococcal, pneumococcal, and others), out of which, the bacterial diseases segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the prevalence of bacterial diseases globally. For instance, in 2019, over 1 million people lost their lives due to antibiotic-bacterial resistant infections.

Our in-depth analysis of the global vaccines market includes the following segments:


         By Type


  • Inactivated
  • Recombinant
  • Live Attenuated
  • Toxoid

         By Administration Route

  • Oral
  • Parenteral

         By Age Group

  • Adults
  • Pediatric

            By Application

  • Viral Diseases
  • Influenza
  • Hepatitis
  • Herpes Zoster
  • Rubella
  • Rotavirus
  • Others
  • Bacterial Diseases
  • Diphtheria
  • Meningococcal
  • Pneumococcal
  • Others

          By Distribution Channel

  • Government Supplier
  • Hospitals
  • Others

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Vaccines Industry - Regional Synopsis

Regionally, the global vaccines market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the Asia Pacific is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed to the increment in birth rate, rising geriatric population and growing penetration of major key players of the market in the region. Based on the data released by the Asian Development Bank, the number of geriatrics is projected to hit 923 million by 2050. Moreover, increasing awareness of vaccination, a sudden outbreak of COVID-19, and exponential growth in government initiatives regarding health welfare are further estimated to propel the growth of the market over the forecast period.

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Companies Dominating the Vaccines Landscape

    • GlaxoSmithKline plc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Pfizer Inc.
    • Sanofi Aventis
    • Merck & Co., Inc.
    • Mitsubishi Tanabe Pharma Corporation
    • Bavarian Nordic A/S
    • Novartis AG
    • Inovio Pharmaceuticals, Inc.
    • CSL Limited
    • Emergence BioSolutions, Inc.


In The News

  • Pfizer Inc. to reveal the positive results from the Phase 3 study that has been recently conducted. The data from the study defines the 20-valent pneumococcal conjugate vaccine candidate. Apart from accomplishing positive results, the vaccine is still on its way to acquiring approval from requisite agencies.
  • GlaxoSmithKline plc to acquire prequalification from the World Health Organization (WHO) Mosquirix, additionally known as RTS, S/AS01. With this accomplishment, Mosquirix becomes the only approved vaccine for malaria. Furthermore, the vaccine I ready to be rolled out in the countries with a higher prevalence of P. falciparum malaria transmission.

Author Credits:  Radhika Gupta, Shivam Bhutani

  • Report ID: 1399
  • Published Date: Feb 06, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing demand for vaccines to cure hepatitis b and increasing cases of tuberculosis across the globe are estimated to majorly boost the market growth.

The market is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2023-2033.

The requirement for higher initial investment and long-lasting and costly procedure of R&D of the vaccine is estimated to challenge the market growth.

The market in the Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Pfizer Inc., Sanofi Aventis, Merck & Co., Inc., Mitsubishi Tanabe Pharma Corporation, Bavarian Nordic A/S, Novartis AG, Inovio Pharmaceuticals, Inc., CSL Limited, and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, administration route, age group, application, distribution channel, and by region.

The bacterial diseases segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Vaccines Market Report Scope

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