The global vaccine market size was valued at USD 59.83 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 136.46 Billion by 2033, exhibiting a CAGR of 9.12% during 2025-2033. Asia-Pacific currently dominates the market, holding a significant market share of over 38.9% in 2024. The implementation of stringent regulations promoting vaccination adoption among individuals, several advances in biotechnology and vaccine development techniques, and growing health awareness among the population about the importance of vaccination are some of the major factors propelling the market.

The global Vaccines Market is estimated to be valued at USD 54.50 billion in 2025 and is projected to reach USD 111.3 billion by 2035, registering a compound annual growth rate (CAGR) of 7.4% over the forecast period

Metric	Value
Market Size in 2025	USD 54.50 billion
Projected Market Size in 2035	USD 111.3 billion
CAGR (2025 to 2035)	7.4%

Country-Wise Outlook

Country	CAGR (2025 to 2035)
United States	6.7%

Country	CAGR (2025 to 2035)
United Kingdom	6.2%

Country	CAGR (2025 to 2035)
European Union	6.4%

Country	CAGR (2025 to 2035)
Japan	6.1%

Country	CAGR (2025 to 2035)
South Korea	6.6%

Snapshot img

Vaccines Market Size 2025-2029

The vaccines market size is forecast to increase by USD 160.22 billion at a CAGR of 23.1% between 2024 and 2029.

The market is experiencing significant growth, driven by increased funding for research and development, leading to the launch of new vaccines. One of the most promising trends in this market is the development of nanoparticle vaccines, which offer enhanced immunogenicity and improved delivery systems. This trend is particularly evident in the development of nanoparticle vaccines, which offer enhanced efficacy and safety. However, the high cost of research, development, and manufacturing poses a significant challenge for market players. Examples include the inactivated polio vaccine (IPV) and influenza vaccine. These costs can be attributed to the complex production processes involved in vaccine creation, as well as the need for rigorous clinical trials to ensure safety and efficacy. 
However, the high cost of vaccine research, development, and manufacturing remains a significant challenge for market participants. Despite this, the market presents numerous opportunities for companies seeking to capitalize on the growing demand for vaccines, particularly in emerging economies with rising healthcare expenditures. Strategic partnerships, collaborations, and acquisitions are key strategies for companies looking to navigate the competitive landscape and stay ahead of the curve.
Overall, the market is poised for continued growth, with significant opportunities for innovation and investment in the coming years. Companies that can effectively address the challenges of cost and regulatory compliance while delivering high-quality, effective vaccines will be well-positioned to succeed.

What will be the Size of the Vaccines Market during the forecast period?

Request Free Sample

The market driven by the continuous development of immunization programs and the pursuit of vaccine equity. Immunological memory, antibody response, and cost-effectiveness analysis are key factors influencing market growth. Vaccine supply chain, efficacy testing, preservation, patent, and licensing are essential aspects of the market. Nanotechnology and universal vaccines are emerging trends, aiming to improve vaccine accessibility and quality control. Vaccine manufacturing, regulatory approval, and economic impact are crucial elements in the market, with intellectual property, vaccine shelf life, and vaccine development pipeline being significant factors.
Vaccine innovation and vaccine safety monitoring are essential for addressing disease burden and ensuring potency, stability, and sterility. Vaccine logistics and vaccine stability are critical for successful distribution and administration, while vaccine safety monitoring emphasizes the importance of ongoing surveillance and immune response assessment. 

How is this Vaccines Industry segmented?

The vaccines industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Subunit vaccines
  Live attenuated vaccines
  Inactivated vaccines
  Toxoid vaccines
  Others


End-user

  Hospitals
  Clinics


Technology

  mRNA vaccines
  Viral vector vaccines
  Protein based vaccines
  DNA vaccines
  Others


Route Of Administration

  Intramuscular
  Subcutaneous
  Oral
  Intranasal
  Others


Disease Type

  Influenza
  Human papillomavirus
  Hepatitis
  Measles
  mumps
  rubella
  Others


Age Group

  Pediatric
  Adult
  Adolescent
  Geriatric


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

The subunit vaccines segment is estimated to witness significant growth during the forecast period.

Subunit vaccines, integral components of the healthcare system's disease prevention strategy, employ specific antigenic pieces of a pathogen, such as proteins, sugars, or capsids, to induce a robust immune response. These vaccines, including the mRNA vaccines, are designed to target specific components of the pathogen, making them highly effective in preventing infections. The development process involves identifying and isolating these antigenic components, followed by formulation and rigorous testing to ensure safety and efficacy. For instance, in the realm of disease outbreak prevention, a phase 3 trial for the subunit TB vaccine candidate M72/AS01E was initiated in March 2024 in South Africa.

This trial aims to evaluate the vaccine's efficacy in preventing the progression from latent TB to active pulmonary TB, contributing to herd immunity and ultimately, disease surveillance and vaccine distribution within the healthcare system.

The statistic shows the percentage of the global vaccine market in 2017 and a forecast for 2028, by route of administration. In 2017, the total global market was valued at around **** billion U.S. dollars, of which nearly ** percent were generated through vaccines administered intramuscularly.

USD 67580 Million in 2024; projected USD 124429.94 Million by 2033; CAGR 7.1%.

Global Vaccine market size 2021 was recorded $65.931 Billion whereas by the end of 2025 it will reach $81.9 Billion. According to the author, by 2033 Vaccine market size will become $126.379. Vaccine market will be growing at a CAGR of 5.572% during 2025 to 2033.

The global vaccine market was valued at USD 68.07 Billion in 2024. The industry is expected to grow at a CAGR of 10.50% during the forecast period of 2025-2034 to attain a valuation of USD 184.75 Billion by 2034.

The global vaccine market is showing some escalating growth and it is expected that it will reach total revenues of nearly ** billion U.S. dollars by 2020. That would be almost double the size the market had back in 2014. Driver of the growth is the increase of various infectious diseases like influenza, swine flu, hepatitis, tuberculosis, diphtheria, Ebola, and meningococcal and pneumococcal diseases. Leading manufacturers of vaccines are big pharma companies like GlaxoSmithKline, Merck & Co., and Pfizer.

How vaccines work

The concept behind the functioning of vaccines - also known as immunizations - is relatively simple: inject a weakened form, or a fragment, of a disease to a person so the body learns to produce antibodies or to start other processes of immunity. As a result, the person’s body is ready to fight the same infection next time. By this way, infectious diseases which once had high death rates like polio and smallpox have been nearly eradicated. Others like measles, mumps, and whooping cough, are mostly under control and larger epidemics have been successfully prevented. While some immunizations last lifelong, others have to be renewed to stay efficient. Despite the obvious success of immunizations and their huge role for public health, there are discussions about the safety and consequences of vaccines in the U.S. and many other countries.

The vaccine market

At this moment, Pfizer’s Prevnar 13 is the world’s leading vaccine product, generating around *** billion U.S. dollars of revenue. Prevnar 13 is a vaccine for the prevention of invasive disease caused by ** streptococcus pneumoniae strains and can be used in children and adults. The United States are the world’s largest national market for vaccines, while North America is, accordingly, the largest regional market. The global vaccine market is largely dominated by vaccines which are administered intramuscularly. These vaccines make up over half of global revenues, while vaccines which are administered subcutaneously make up around *** fifth of the market. Other common routes of administration are oral or intravenous.

The Global Vaccine market is anticipated to cross USD 105 Billion by 2028 due to growing global health concern and infectious disease rise the demand.

According to Cognitive Market Research, the global Inactivated Vaccines Market size will be USD 42514.8 million in 2025. It will expand at a compound annual growth rate (CAGR) of 8.00% from 2025 to 2033.

North America held the major market share for more than 37% of the global revenue with a market size of USD 15730.48 million in 2025 and will grow at a compound annual growth rate (CAGR) of 5.8% from 2025 to 2033.
Europe accounted for a market share of over 29% of the global revenue with a market size of USD 12329.29 million.
APAC held a market share of around 24% of the global revenue with a market size of USD 10203.55 million in 2025 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2025 to 2033.
South America has a market share of more than 3.8% of the global revenue with a market size of USD 1615.56 million in 2025 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2025 to 2033.
Middle East had a market share of around 4.00% of the global revenue and was estimated at a market size of USD 1700.59 million in 2025 and will grow at a compound annual growth rate (CAGR) of 7.3% from 2025 to 2033.
Africa had a market share of around 2.20% of the global revenue and was estimated at a market size of USD 935.33 million in 2025 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2025 to 2033.
Radiation Method is the fastest growing segment of the Inactivated Vaccines Market industry

Market Dynamics of Inactivated Vaccines Market

Key Drivers for Inactivated Vaccines Market

Increasing prevalence of infectious diseases globally fuels the market demand

The growing global burden of infectious diseases such as influenza, hepatitis, rabies, polio, and emerging zoonotic infections has significantly bolstered the demand for inactivated vaccines. According to the World Health Organization (WHO), the seasonal influenza affects about 1 billion people worldwide annually, causing 3 to 5 million severe cases and 290,000 to 650,000 deaths. It spreads via respiratory droplets and surfaces, with symptoms like fever and cough appearing within 1 to 4 days. Vaccination is the best prevention, recommended yearly for everyone over six months, especially high-risk groups. Flu seasons peak in winter months in temperate regions and occur year-round in tropical areas. These vaccines are particularly preferred in population groups requiring high safety profiles, including children, the elderly, and immunocompromised individuals. The resurgence of certain preventable diseases, owing to declining vaccination rates in some regions and the emergence of new viral strains, has further necessitated reliable and safe immunization options. Governments and international bodies such as the World Health Organization and UNICEF continue to emphasize immunization through national and regional programs, further propelling market demand. The increased frequency of epidemics and pandemics has also reinforced the need for scalable and broadly applicable inactivated vaccine solutions.

https://www.who.int/news-room/fact-sheets/detail/influenza-(seasonal)

Expanding geriatric population with higher susceptibility to infections is expected to drive the market

The global rise in the aging population has emerged as a critical factor driving the growth of the inactivated vaccines market. Elderly individuals are more susceptible to various infectious diseases due to immunosenescence, an age-related decline in immune function. As a result, they require effective yet safe vaccines that do not pose risks of replication-induced complications, making inactivated vaccines an optimal choice. Moreover, increasing life expectancy and greater healthcare access among the elderly are contributing to higher vaccination rates. Healthcare providers are also proactively recommending inactivated vaccines as part of preventive care strategies for the aging population. Government immunization schedules in many countries now include inactivated vaccines targeting diseases like influenza and pneumococcal infections specifically for older adults.

Restraint Factor for the Inactivated Vaccines Market

High cost and longer production timelines for inactivated vaccines limit market growth

The manufacturing of inactivated vaccines involves complex procedures, including pathogen cultivation, inactivation, purification, formulation, and rigorous quality control, which substantially increase production...

The global cancer vaccines market is estimated to reach a valuation of USD 11.29 billion in 2025. It is expected to reach USD 27.95 billion by 2035, reflecting a CAGR of 12% during the forecast period between 2025 and 2035.

Metrics	Values
Industry Size (2025E)	USD 11.29 billion
Industry Value (2035F)	USD 27.95 billion
CAGR	12%

Vaccine Market Size, Vaccine market Share, Vaccine market Trends, Outlook, Analysis 2028 By Product Type (Next-Generation Vaccine), By Disease Type, By countries, Competition, Forecast, Opportunities.

Approved COVID-19 Vaccines Market Outlook

The global market size for approved COVID-19 vaccines stood at approximately USD 45 billion in 2023 and is projected to reach around USD 78 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.5% during the forecast period. This substantial growth is primarily driven by continuous advancements in vaccine technology, increasing global vaccination drives, and the emergence of new variants necessitating booster doses.

One of the primary growth factors for the approved COVID-19 vaccines market is the ongoing need for booster vaccinations. As new variants of the virus emerge, vaccine manufacturers are continuously enhancing existing vaccines to tackle these variants effectively. This continuous innovation ensures sustained demand for updated vaccines, thereby propelling market growth. Additionally, governments worldwide are investing heavily in vaccination programs to achieve herd immunity, further boosting market size. Initiatives like COVAX, which aim to provide equitable vaccine access, are also significant contributors to market expansion.

Another crucial factor driving market growth is the increased awareness and acceptance of vaccines among the global population. Intensive public health campaigns and educational movements have led to a higher acceptance rate of vaccines, reducing vaccine hesitancy. This trend is particularly significant in emerging economies where initial vaccine skepticism was high. The successful roll-out of initial vaccine doses has built public confidence, thereby increasing the uptake of booster doses and new vaccine variants.

The collaboration between pharmaceutical companies and governments has also played a pivotal role in the growth of the COVID-19 vaccines market. Strategic partnerships for vaccine production, distribution, and administration have streamlined the supply chain, making vaccines more accessible to the public. These collaborations have also facilitated bulk purchasing agreements, which have provided cost advantages and enhanced market penetration across various regions. Moreover, the establishment of new manufacturing facilities and the expansion of existing ones have significantly accelerated vaccine production capabilities.

The development of the COVID-19 RNA Vaccine has been a groundbreaking advancement in the fight against the pandemic. Unlike traditional vaccines, RNA vaccines work by introducing a small piece of genetic material from the virus into the body, prompting an immune response without using a live virus. This innovative approach has allowed for rapid development and deployment, significantly contributing to the global vaccination efforts. The flexibility of RNA technology also enables quick updates to the vaccine to address new variants, ensuring continued protection as the virus evolves. This adaptability has made RNA vaccines a crucial tool in achieving widespread immunity and controlling the spread of COVID-19.

Regionally, North America leads the market due to its advanced healthcare infrastructure and early adoption of vaccination programs. Europe follows closely, with significant contributions from countries like Germany, France, and the UK. The Asia Pacific region is witnessing rapid growth, driven by substantial investments in healthcare infrastructure and large-scale vaccination drives in countries like India and China. Meanwhile, Latin America and the Middle East & Africa are gradually catching up, supported by international aid and improving healthcare systems. The regional diversity ensures a balanced growth outlook for the global market.

Vaccine Type Analysis

The market for approved COVID-19 vaccines is segmented into various types, including mRNA vaccines, vector vaccines, protein subunit vaccines, inactivated vaccines, and others. mRNA vaccines, such as those developed by Pfizer-BioNTech and Moderna, have gained significant traction due to their high efficacy rates and the rapid speed of development. The flexibility of mRNA technology to adapt swiftly to new variants has positioned them as a frontrunner in the market. This segment is expected to continue its dominance, supported by ongoing research and development activities aimed at enhancing vaccine formulations and delivery mechanisms.

Vector vaccines, which use a modified virus to deliver genetic material into cells, represent another significant segment. AstraZeneca and Johnson & Johnson are key players in t

The global pediatric vaccines market size reached USD 39.7 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 72.7 Billion by 2033, exhibiting a growth rate (CAGR) of 6.89% during 2025-2033. The growing conduction of vaccination programs, increasing focus on combination vaccines, and rising partnerships between pharmaceutical companies and healthcare organizations for fast-tracking the development and distribution of vaccines are some of the major factors propelling the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 39.7 Billion
Market Forecast in 2033	USD 72.7 Billion
Market Growth Rate 2025-2033	6.89%

IMARC Group provides an analysis of the key trends in each segment of the global pediatric vaccines market report, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on type, technology, and application.

The Global Vaccines market report offers a thorough competitive analysis, mapping key players’ strategies, market share, and business models. It provides insights into competitor dynamics, helping companies align their strategies with the current market landscape and future trends.

Learn about the expected growth in the global vaccine market, driven by increasing demand for vaccines for human medicine worldwide. Market performance is forecast to accelerate, with a projected CAGR of +11.0% from 2024 to 2035, reaching a market volume of 317K tons and a value of $342.2B by the end of 2035.

The global vaccines market exhibits robust growth, driven by increasing disease prevalence, rising vaccination rates, and continuous technological advancements in vaccine development. The market's expansion is fueled by several key factors. Firstly, the heightened awareness of preventable diseases and the associated health risks are prompting governments and healthcare organizations to implement comprehensive vaccination programs globally. Secondly, the emergence of novel vaccines, such as mRNA vaccines, has significantly broadened the scope of vaccine applications and improved efficacy. Thirdly, the continuous research and development efforts aimed at creating more effective and safer vaccines, particularly for challenging diseases like influenza and HIV, contribute to the market's dynamic growth. While the market faces challenges like vaccine hesitancy and supply chain complexities in certain regions, the overall trajectory remains positive, with a projected substantial increase in market value over the forecast period. Specific segments, such as recombinant and viral vaccines, are expected to witness particularly rapid growth, driven by their higher efficacy and safety profiles compared to traditional vaccines. Geographic variations exist, with North America and Europe currently dominating the market, while Asia-Pacific is projected to exhibit significant growth in the coming years due to rising disposable incomes and improved healthcare infrastructure. The competitive landscape comprises major pharmaceutical companies alongside emerging players, fostering innovation and driving further market expansion. The market segmentation by application reveals a diverse portfolio of vaccines addressing various infectious diseases. Rabies, influenza, HPV, and Hepatitis vaccines represent significant portions of the market, reflecting the prevalence and impact of these diseases globally. However, the market also sees significant investment in vaccines for less prevalent yet equally important diseases, such as leprosy and JE. The segment based on vaccine type showcases the evolution of vaccine technology, with recombinant and viral vaccines leading the innovation and growth. This shift signifies a transition towards more effective, targeted, and safer vaccine options. The regional breakdown highlights the established dominance of developed markets but also emphasizes the significant growth potential of emerging economies, particularly in Asia-Pacific, driven by increasing populations, improving healthcare access and government-sponsored vaccination programs. This diverse landscape ensures the vaccines market remains a dynamic and promising sector with significant implications for global public health.

Learn about the projected growth of the vaccine market for human medicine worldwide, with an expected increase in both volume and value over the next six years.

The global veterinary vaccines market is projected to expand from USD 9.92 billion in 2025 to USD 16.34 billion by 2035, reflecting a CAGR of 5.2%.

Attributes	Key Insights
Estimated Size, 2025	USD 9.92 billion
Projected Size, 2035	USD 16.34 billion
Value-based CAGR (2025 to 2035)	5.2%

Country-wise Insights

Countries	Value CAGR (2025 to 2035)
USA	6.1%
China	7.9%
Germany	5.0%
UK	5.7%
Japan	4.5%
India	7.5%

The global vaccines market is booming, projected to reach $46.59 billion by 2025 with a 5.4% CAGR. This report analyzes market drivers, trends, restraints, and key players like GSK, Pfizer, and Sanofi, providing insights into regional market share and future growth.