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

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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  • 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.

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

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The global vaccines market is estimated to garner remarkable revenue by the end of 2033 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2033. Further, the market generated impressive revenue in the year 2022. 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.

Vaccines-Market-Demand-SizeGet more information on this report: Request Sample PDF

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.

Global Vaccines Market: 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 

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.

Major Macro-Economic Indicators Impacting the Market Growth


According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Vaccines Market 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.


The global vaccines market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

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

Top Featured Companies Dominating the Global Vaccines Market

  • 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.



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