The India vaccine market was valued at INR 118.76 Billion in 2024, driven by the high burden of infectious diseases, rising strategic collaborations, and increased focus on local vaccine production capabilities in the country. The market is expected to grow at a CAGR of 8.80% during the forecast period of 2025-2034, with the values likely to reach INR 276.03 Billion by 2034.

Get actionable insights into India Vaccine Market, size at USD 98 billion in 2023, showcasing demand trends and future opportunities.

In 2019, multinational corporations led the private vaccine market in India with a ** percent market share. While Indian companies provide the bulk of vaccines used in the country's "Universal Immunisation Program," higher priced human papillomavirus, pneumococcal, influenza, and meningococcal vaccines led to multinational corporations dominating the market in terms of value.

The total vaccine market value across India stood at approximately *** billion U.S. dollars in 2012. Of that, some ** million dollars were reserved for post incident vaccines, while *** million dollars worth of vaccines were earmarked for universal immunization program under the National Health Mission.

The Vaccines Market size was valued at USD 43.2 Billion in 2023 and is projected to reach USD 90.7 Billion by 2032, exhibiting a CAGR of 6.4 % during the forecast period. It is a biological suspension that is used to improve the immune system to a particular disease. A vaccine typically contains a microbial agent that resembles a specific disease-causing microorganism. Vaccines are often made from weakened or killed forms of microbe. It is designed to produce protection against a specific disease. There are various types of vaccines such as Inactivated, Live-attenuated, Messenger, Toxoid, and Viral vector vaccines. The ideal features of vaccines are cost-effective, easy to administrate, thermally stable, etc. Recent developments include: January 2023: Bharat Biotech launched an indigenously made nasal COVID-19 vaccine, iNCOVAC, for people older than 18 years., August 2022: GSK acquired Affinivax, Inc., a clinical-stage biopharmaceutical company, predominantly developing novel next generation pneumococcal vaccine. Through this acquisition, the company aims to strengthen its product portfolio., August 2022: Takeda Pharmaceutical Company Limited received the Indonesia National Agency for Drug and Food Control approval for its dengue tetravalent vaccine, QDenga for individuals six years to 45 years of age., July 2022: Bavarian Nordic, a Danish biotechnology company, received EU approval for Imvanex for protection against monkeypox disease., September 2021: The Serum Institute of India Pvt planned to launch at least one vaccine every quarter, beginning with Covishield, which is licensed from AstraZeneca., September 2020: The Serum Institute of India collaborated with Gavi and the Bill & Melinda Gates Foundation to accelerate the manufacture and delivery of up to an additional 100 million doses of safe and effective COVID-19 vaccines for Low and Middle-Income Countries (LMICs) as part of the Gavi COVAX AMC, which is a mechanism within the COVAX Facility.. Key drivers for this market are: Strong Supply Backed Up by Robust R&D to Fuel Market Growth. Potential restraints include: High Costs Associated with Vaccine Dose to Hinder Market Growth. Notable trends are: Growing Supply of Products by UNICEF, WHO, and PAHO to Aid Immunization Process.

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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?

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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 s

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

For the third year in a row, the Indian vaccine market recorded growth in sales value, which increased by 5.6% to $1.1B in 2024. Overall, the total consumption indicated a tangible increase from 2012 to 2024: its value increased at an average annual rate of +3.1% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +132.2% against 2021 indices.

This report covers Indian Pediatrics Market, Pediatric Drug Development, Subunit Vaccines Sales India, Generic Pediatric Drugs Sales, Toxoid Vaccines Market Share, Trends Pediatric Vaccine Market, Number Of Pediatrician Statistics, Pediatric Tuberculosis Drug Market, India Anti-Infectives Market Growth, Drug Information.

The paediatric vaccine market valuation is US$ 54,130.1 million in 2023. The market is predicted to grow at a remarkable CAGR of 13.1% to reach a valuation of US$ 184,706.7 million by 2033. Thus, it showcases that the paediatric vaccine market is due for significant growth over the coming years.

Attributes	Details
Paediatric Vaccine Market Value for 2023	US$ 54,130.1 million
Projected Market Value for 2033	US$ 184,706.7 million
Value-based CAGR for 2023 to 2033	13.1%

Historical Performance Compared to Demand Outlook in Paediatric Vaccine Market

Historical CAGR	9.7%
Forecast CAGR	13.1%

Category-wise Outlook

Attributes	Details
Top Indication	Pneumococcal Vaccine
Market Share in 2022	32.5%

Attributes	Details
Top Technology	Conjugate Vaccines
Market Share in 2022	32.8%

Attributes	Details
Top Type	Monovalent Vaccine
Market Share in 2022	73.6%

Attributes	Details
Top End-use Sector	Institutional health centers
Market Share in 2022	72.9%

Country-Wise Analysis

Countries	Market Share in 2022
United States	17.9%
China	19.6%
India	19.2%
United Kingdom	16.1%
Australia	9.4%

The India Pneumococcal Vaccine market was valued at USD 113.30 Million in 2024 and is expected to reach USD 199.53 Million by 2030 with a CAGR of 9.85%.

Pages	85
Market Size	2024: USD 113.30 Million
Forecast Market Size	2030: USD 199.53 Million
CAGR	2025-2030: 6.91%
Fastest Growing Segment	Pneumococcal Conjugate Vaccine
Largest Market	North India
Key Players	1. Pfizer Inc. 2. Merck & Co. Inc. 3. GlaxoSmithKline PLC 4. Novartis AG 5. Serum Institute of India Pvt. Ltd. 6. Panacea Biotec Limited 7. Sanofi SA

H1N1 Vaccines Market Outlook

The H1N1 vaccines market size is projected to witness significant growth over the forecast period, with a compound annual growth rate (CAGR) of approximately 5.8% from 2024 to 2032. In 2023, the global market size was valued at around $1.2 billion and is expected to reach about $2 billion by 2032. This growth can be attributed to the increasing prevalence of influenza pandemics, heightened awareness regarding vaccine availability, and substantial advancements in healthcare infrastructure across various regions.

The escalating concerns over public health safety, especially with the recent experiences of global pandemics, have been a significant driving force for the H1N1 vaccines market. Governments worldwide are increasingly investing in pandemic preparedness, which includes stockpiling vaccines and enhancing distribution capabilities. This strategic focus aims to mitigate the impacts of potential future outbreaks, thereby ensuring better management of public health crises. Additionally, the World Health Organization and other global health bodies have been instrumental in promoting vaccination campaigns, thus driving demand for H1N1 vaccines.

Technological advancements in vaccine development are another critical growth factor for the H1N1 vaccines market. Innovations such as mRNA vaccine technology, which gained prominence during the COVID-19 pandemic, are now being explored for influenza vaccines, including H1N1. These technologies promise higher efficacy and faster production timelines, which are crucial during pandemic situations. Furthermore, the rise of personalized medicine and precision healthcare is pushing the boundaries of traditional vaccine development, leading to more effective and targeted H1N1 vaccines.

The growing awareness among the population regarding the importance of vaccination in preventing influenza outbreaks is also contributing to market growth. Educational campaigns and public health initiatives are emphasizing the benefits of vaccinations, not only in preventing individual infections but also in contributing to herd immunity. Such efforts are leading to higher vaccination rates, especially among vulnerable groups such as children, the elderly, and individuals with compromised immune systems, thereby boosting the demand for H1N1 vaccines.

From a regional perspective, North America and Europe are expected to maintain a significant share of the H1N1 vaccines market due to well-established healthcare systems and proactive government initiatives. However, the Asia Pacific region is anticipated to witness the fastest growth, driven by increasing healthcare investments, rising population density, and heightened awareness about infectious diseases. Public and private collaborations in countries like China and India are also playing a pivotal role in expanding vaccine reach and accessibility, thus propelling market growth in the region.

Vaccine Type Analysis

The H1N1 vaccines market is segmented into inactivated vaccines and live attenuated vaccines, each offering unique advantages and presenting distinct market dynamics. Inactivated vaccines, which are made from virus particles that are killed and incapable of causing disease, are often preferred for their safety profile. They are stable, can be stored for longer periods, and are suitable for immunocompromised individuals, making them a staple in the vaccination programs worldwide. The demand for inactivated vaccines is expected to remain strong, supported by ongoing research and development efforts aimed at improving their efficacy and production efficiency.

Live attenuated vaccines, on the other hand, use weakened forms of the virus to stimulate an immune response without causing the disease. These vaccines tend to provoke a stronger and longer-lasting immune response compared to inactivated vaccines. Live attenuated vaccines are often administered through nasal sprays, making them more appealing for certain populations, particularly pediatrics who may have aversions to injections. The growing interest in needle-free vaccination methods is expected to drive the demand for live attenuated vaccines, despite potential concerns regarding their suitability for certain populations.

Advancements in biotechnology and genetic engineering are paving the way for next-generation vaccines that blend the benefits of both inactivated and live attenuated vaccines. This includes the development of novel vaccine delivery systems and adjuvants that enhance immune response and provide broader protection against various strains of the influen

In 2019, the market value domestic private vaccines in India amounted to approximately *** million U.S. dollars. This figure represents an increase of over ** million U.S. dollars compared to 2015.

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%

India JE (Japanese Encephalitis) Vaccine Market size, trends, competitive landscape & growth forecast through 2026–2030. Key drivers & regional insights.

In India Cattle Vaccine Market, Innovation in implant technology, such as the development of slow-release formulations and biodegradable

The global preventive vaccines market is experiencing robust growth, driven by increasing incidence of infectious diseases, rising awareness about the importance of vaccination, and continuous advancements in vaccine technology. The market is segmented by application (e.g., influenza, measles, mumps, rubella, polio, etc.) and type (live attenuated, inactivated, etc.), each exhibiting unique growth trajectories based on disease prevalence and vaccine efficacy. Government initiatives promoting vaccination programs, particularly in developing economies with high disease burdens, significantly contribute to market expansion. While challenges such as vaccine hesitancy and logistical hurdles in vaccine distribution persist, the overall market outlook remains positive. The substantial investment in research and development by major pharmaceutical companies like Sanofi, AstraZeneca, and others is further fueling innovation in vaccine development, leading to more effective and safer vaccines. This is also driving the development of novel vaccines targeting emerging infectious diseases. A projected compound annual growth rate (CAGR) in the range of 6-8% from 2025-2033 suggests a substantial increase in market value over the forecast period. Regional disparities exist; North America and Europe currently hold significant market shares due to higher healthcare expenditure and established vaccination infrastructure. However, Asia-Pacific is projected to demonstrate substantial growth due to increasing population and rising disposable incomes. The competitive landscape is marked by the presence of established pharmaceutical giants alongside smaller specialized vaccine manufacturers. Strategic collaborations, mergers, and acquisitions are common strategies used by players to expand their market reach and product portfolio. The market's future will depend on the successful development and deployment of new vaccines targeting currently incurable diseases as well as the continued efforts to address vaccine hesitancy through public health campaigns and improved access to vaccinations globally. Pricing dynamics will continue to play a significant role, particularly in the context of affordability and accessibility in low- and middle-income countries. Maintaining a cold chain and robust distribution networks will also be crucial to ensuring vaccine effectiveness and market success.

The India Japanese Encephalitis (JE) vaccine market was valued at USD 1.77 Million in 2024. It is expected to grow at a CAGR of 5.00% during the forecast period of 2025-2034 and attain a market value of USD 2.88 Million by 2034.

Key Market Trends and Insights

• India accounts for a market share of 19% within the JE vaccine market in the Asia Pacific region.
• Based on type, live attenuated vaccines are projected to lead. The SA 14-14-2 strain is widely used in India due to their proven efficacy and cost-effectiveness.
• Children under 15 years are the most affected by JE in India, making the pediatric segment the primary focus of vaccination programs.

Market Size and Forecast

• Market Size (2024): USD 1.77 Million
• Projected Market Size (2034): USD 2.88 Million
• CAGR (2025-2034): 5.00%

The global human combination vaccines market is experiencing robust growth, driven by increasing disease prevalence, rising vaccination awareness, and the cost-effectiveness of combination vaccines compared to administering multiple single vaccines. The market size in 2025 is estimated at $15 billion, demonstrating significant expansion from the historical period (2019-2024). A Compound Annual Growth Rate (CAGR) of 7% is projected from 2025 to 2033, indicating continued strong market performance throughout the forecast period. Key drivers include government initiatives promoting vaccination programs, particularly in developing nations, and ongoing research and development leading to the introduction of newer, more effective combination vaccines. The market is segmented by vaccine type (e.g., MMR, DTaP, HepB-Hib), age group, and route of administration. Leading players like GlaxoSmithKline, Merck, Sanofi, Daiichi Sankyo, Serum Institute of India, and Takeda Pharmaceuticals are actively engaged in expanding their portfolios and geographical reach, fueling competition and innovation within the sector. Market restraints include concerns regarding vaccine safety and efficacy, particularly related to potential side effects, and uneven access to vaccination in certain regions due to logistical and economic challenges. However, these are expected to be mitigated by advancements in vaccine technology and increased investment in healthcare infrastructure. The market's future growth will be largely influenced by the successful development and launch of next-generation combination vaccines addressing emerging infectious diseases, technological advancements in vaccine delivery systems, and favorable regulatory environments supporting wider vaccine adoption. The continued focus on preventing outbreaks and ensuring global vaccine equity will significantly contribute to the market's sustained expansion.

The global diphtheria vaccine market is experiencing robust growth, driven by increasing immunization programs worldwide and the persistent threat of diphtheria outbreaks. While precise market size figures for 2025 are unavailable, considering a plausible CAGR of 5% (a reasonable estimate given the steady demand for vaccines and ongoing efforts to maintain high vaccination rates), and assuming a 2024 market size of $2 Billion (a conservative estimate based on similar vaccine markets), we project the 2025 market value at approximately $2.1 Billion. This growth is projected to continue throughout the forecast period (2025-2033), contributing to a significant expansion of the market. Key market drivers include government initiatives supporting vaccination campaigns, rising awareness regarding preventable diseases, and improvements in vaccine technology leading to increased efficacy and safety. The market is segmented by vaccine type (e.g., DTaP, DTwP), route of administration, and geographic region. Leading players like Merck, Sanofi Pasteur, and Serum Institute of India dominate the landscape, constantly innovating and expanding their market reach. However, the market faces certain restraints. These include challenges in reaching remote populations, vaccine hesitancy in certain regions, and the potential for emerging variants impacting vaccine effectiveness. Despite these challenges, the long-term outlook remains positive, fueled by ongoing research and development efforts, improvements in cold chain infrastructure, and sustained governmental support for immunization programs. The market is expected to witness a substantial increase in demand in emerging economies, especially as vaccination rates rise and healthcare infrastructure improves. The continued threat of diphtheria resurgences will continue to be a key driver of growth, necessitating strong investment in the production and distribution of effective vaccines.