Vaccines Market Share

North America Market Insights

The North America vaccines market is anticipated to dominate, garnering a 38.6% share globally. The market growth can be attributed to the strong public immunization programs and the presence of advanced research and development. Also, there is a surge in efforts for pandemic preparedness and aging demographics in the region, further catalyzing the market growth. The healthcare system in the region also prioritizes oncology vaccines, fueling the demand for the vaccines. Also, there are commercial innovations aided by government organizations, which are bolstering the vaccines market growth.

The market in the U.S. is observing revolutionary growth fueled by enhanced federal funding and an increase in preventive care programs by the government. In 2023, almost 9.1% of the healthcare budget (USD 5.1 billion) from the federal government was infused into vaccine manufacturing. Medicaid has increased the vaccine-associated reimbursements to cover 10% more patient base. The country has remained a hub for vaccine innovation, fueled by strategic policy support and upgradation in biotechnology. Also, there has been an increased emphasis on immunization equity, which will further bolster the market during the forecasted period.

Asia-Pacific Insights

The Asia Pacific vaccines market is anticipated to witness robust growth by 2037, occupying 7.1% of the CAGR by 2037. The growth of the market is driven by rising awareness of diseases and supportive policies from the government. Countries are investing heavily in research and development and implementing cold chain logistics. Countries are implementing digital health strategies, and burgeoning healthcare expenditure is further contributing to the expansion of regional growth. Also, the rising outbreaks of diseases such as COVID-19, RSV, cancer, and emerging pathogens are creating a large patient pool for the market players.

China's support for the National Medical Products Administration (NMPA) has witnessed a 15.4% surge in vaccine-associated spending in the last years. There is a large patient pool and national booster programs for the emerging pandemic in the country. Additionally, in 2024, Japan allocated 12,2% of the healthcare budget to vaccines, showcasing a USD 3.1 billion increment from 2022. In India, under the National Immunization Programme almost 2.3 million patients received vaccines. These factors are propelling the market growth in the region in the coming period.

Latest Developments by Private Market Players in APAC (2023–2025)