Vaccines Market Outlook:
Vaccines Market size was valued at USD 82.96 Billion in 2024 and is projected to cross USD 174.79 Billion by the end of 2037, expanding at more than 5.9% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of vaccines is evaluated at USD 85 billion.
In the year 2024, the worldwide vaccine pool for patients consists of plenty of people enrolled through the immunization program. For instance, in the U.S., in 2022, a projected 262.2 million of the population had applied COVID-19 vaccine for at least one time. Also, during 2023-24, personnel vaccine coverage in the healthcare sector has reached 75% for influenza and 31% for COVID-19. These numbers showcase a significant base of patients for the market players and offer lucrative growth opportunities.
The supply chains for the Active Pharmaceutical Ingredient include a myriad of critical components, such as syringes and IT tracking systems. In the U.S., the introduction of the Vaccine Tracking System (VTrckS) can manage orders and distribution and support almost 70-80 million doses annually. Global organizations such as the World Health Organization and UNICEF depend on the cargo operations while maintaining the temperature requirements. Additionally, in the U.S., the Producer Price Index for biological vaccines in the U.S. surged by 4.3%.
