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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 system.

This statistic describes the size of the human vaccine market in the United States from 2014 to 2024, comparing the adult vaccine vs. the pediatric vaccine market. It is projected that the adult vaccine market in the U.S. will generate nearly ** billion U.S. dollars by 2024.

USD 19803.02 Million in 2024; projected USD 37541.6 Million by 2033; CAGR 7.34%.

• The global industry was valued at US$ 21.7 Bn in 2023
• It is projected to grow at a CAGR of -4.3% from 2023 to 2034 and reach more than US$ 9.6 Bn by the end of 2034

Market Introduction

Regional Outlook of mRNA Vaccine Industry

Global mRNA Vaccine Market Snapshot

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Travel Vaccines Market Size 2025-2029

The travel vaccines market size is forecast to increase by USD 7.05 billion, at a CAGR of 10.7% between 2024 and 2029.

Major Market Trends & Insights

North America dominated the market and accounted for a 46% growth during the forecast period.
By the Disease Type - Influenza segment was valued at USD 3.44 billion in 2023
By the End-user - Adult vaccines segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 112.15 billion
Market Future Opportunities: USD 7.05 billion 
CAGR : 10.7%
North America: Largest market in 2023

Market Summary

The market is a significant sector within the healthcare industry, demonstrating continuous growth and evolution. According to various market research, the demand for travel vaccines is on the rise, with an estimated 250 million international travelers in 2020. This number is projected to reach 380 million by 2027, representing a substantial increase. Travelers' changing demographics and increased global connectivity contribute to this market expansion. For instance, an aging population and the rise of adventure tourism are key factors driving the need for diverse travel vaccines. Moreover, the market is witnessing the emergence of new vaccine types, such as combination vaccines, which offer enhanced protection against multiple diseases.
The market's dynamism is further fueled by advancements in technology, enabling the development of more effective and convenient vaccine delivery methods. For example, the use of microneedle patches and oral vaccines is gaining popularity due to their ease of administration and improved patient compliance. Despite these positive trends, challenges persist, including the lack of comprehensive vaccine coverage in some health plans and the ongoing impact of the COVID-19 pandemic on travel vaccination services. Nonetheless, the market's potential for growth remains strong, with opportunities for collaboration between stakeholders, including pharmaceutical companies, travel agencies, and healthcare providers.

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

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Travel vaccines represent a significant segment within the healthcare industry, with current market participation exceeding 20%. This figure underscores the importance of travel vaccines in safeguarding the health of globally mobile populations. Looking ahead, market expansion is anticipated to surpass 15% annually, driven by increasing awareness of disease prevention and the continuous development of innovative vaccine formulations. The market demonstrates a dynamic equilibrium between vaccine efficacy and patient compliance. For instance, in 2020, vaccine recommendations for hepatitis A and typhoid fever reached 90% and 70%, respectively, reflecting high levels of adherence. In contrast, compliance for yellow fever and rabies vaccines stood at 60% and 40%, respectively.
This disparity underscores the importance of effective vaccine education and public health initiatives to boost compliance rates and ultimately improve disease prevention. Moreover, advancements in vaccine manufacturing, cold chain management, and adjuvant systems have led to increased vaccine availability and efficacy. For example, cellular immunity responses to certain vaccines have shown promising results, leading to enhanced protection against various diseases. These advancements not only contribute to the market's growth but also improve overall traveler health and safety.

How is this Travel Vaccines Industry segmented?

The travel 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.

Disease Type

  Influenza
  Diptheria
  Hepatitis
  Typhoid and others


End-user

  Adult vaccines
  Pediatric vaccines


Type

  Outbound
  Inbound


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Disease Type Insights

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

The market, specifically for influenza, is experiencing substantial expansion due to several factors. The resurgence of leisure and corporate travel to pre-pandemic levels and the increasing health awareness among travelers are primary drivers. Influenza vaccines are easily accessible, as they are widely available at pharmacies, healthcare facilities, and workplaces, making administration convenient for travelers. Moreover, disease surveilla

The North America vaccine market was valued at USD 25.64 Billion in 2022, due to growing robust healthcare infrastructure, government vaccination programs.

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

Country-Wise Outlook

• The global industry was valued at US$ 40.6 Bn in 2023
• It is expected to grow at a CAGR of 5.7% from 2024 to 2034 and reach US$ 74.8 Bn by the end of 2034

Inactivated Vaccines Market Overview

Regional Analysis

Inactivated Vaccines Market Snapshot

In US Flu Vaccines Market is projected to grow from USD 4.1 billion in 2025 to USD 7.3 billion by 2031, at a CAGR of 9.8%

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.

Outbreak of coronavirus pandemic and high healthcare expenditure is driving the United States Coronavirus Vaccine Market. US Coronavirus Vaccine Market Size, Share, Growth, Trend & Coronavirus Vaccine Market Analysis & Forecast 2026 By Type, By Required Number of Doses, By Patient Type, By End User, By Company, By Region, Forecast & Opportunities, 2026

The U.S. Meningococcal Vaccines market is projected to be valued at $2.5 billion in 2024, driven by factors such as increasing consumer awareness and the rising prevalence of industry-specific trends. The market is expected to grow at a CAGR of 6.5%, reaching approximately $4 billion by 2034.

The revenue in the 'Vaccines' segment of the pharmaceuticals market in Latin America was modeled to stand at ************ U.S. dollars in 2024. From 2016 to 2024, the revenue rose by ************ U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2028, the revenue will rise by *********** U.S. dollars, showing an overall upward trend with periodic ups and downs.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Vaccines.

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Human Combination Vaccines Market Size 2025-2029

The human combination vaccines market size is forecast to increase by USD 7.72 billion, at a CAGR of 8.8% between 2024 and 2029.

The market is characterized by significant growth opportunities and challenges. Key drivers include the increasing prevalence of infectious diseases and the growing awareness of the importance of vaccination in preventing them. However, the market also faces challenges, including the rising threat of antiviral drug resistance, which can reduce the effectiveness of some vaccines. Furthermore, the threat from bioterrorism has led to an increased focus on developing combination vaccines that can protect against multiple diseases simultaneously. Consolidation of different immunization schedules is another trend shaping the market, as healthcare providers seek to simplify vaccine administration and improve patient compliance. Companies in this market must navigate these challenges while capitalizing on the growing demand for combination vaccines to remain competitive and succeed. Effective strategies may include investing in research and development of new combination vaccines, expanding production capacity, and collaborating with healthcare providers to streamline immunization schedules. By addressing these challenges and leveraging market opportunities, companies can position themselves for long-term success in the market.

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

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, driven by the ongoing development of new technologies and applications across various sectors. Pneumococcal disease remains a significant focus, with research and innovation centered around pneumococcal conjugate vaccines, inactivated vaccines, and polysaccharide vaccines. The use of viral vectors, needle-free injection, and immunization programs is expanding, enhancing vaccine access and effectiveness. Market dynamics are shaped by factors such as regulatory approvals, cold chain management, and immunization schedules. Pharmaceutical companies are investing in peptide vaccines, t-cell response, and DNA vaccines, aiming to improve vaccine efficacy and healthcare costs. Market access remains a critical concern, with efforts to address vaccine hesitancy and ensure equitable distribution. The manufacturing process, quality control, and vaccine shelf life are essential considerations, with ongoing research into vaccine delivery systems, recombinant vaccines, and MRNA technology. Health outcomes and healthcare costs are under constant scrutiny, with global health initiatives and vaccination rates playing a crucial role in disease prevention and pandemic preparedness. Vaccine development pipelines are continually evolving, with clinical trials exploring the potential of new adjuvants, vaccine adjuvants, and vaccine effectiveness. The role of intellectual property, disease surveillance, and antibody response in shaping the market landscape is an ongoing discussion. The market's continuous dynamism underscores the importance of staying informed about the latest trends and developments.

How is this Human Combination Vaccines Industry segmented?

The human combination 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. TypeInactivated vaccineLive attenuated vaccineChannelHospitalsRetailersOnlineRoute Of AdministrationIntramuscularSubcutaneousOralIntradermalNasal sprayGeographyNorth AmericaUSCanadaMexicoEuropeFranceGermanyItalyUKAPACChinaIndiaJapanRest of World (ROW)

By Type Insights

The inactivated vaccine segment is estimated to witness significant growth during the forecast period.The market encompasses a range of vaccine types, including inactivated, live-attenuated, subunit, conjugate, recombinant, peptide, and DNA vaccines. Inactivated vaccines, which account for the largest market share, utilize a process where pathogen particles are destroyed or killed, ensuring they cannot replicate. This segment's dominance is attributed to their better tolerability and fewer complications when combining different antigens. However, producing combination vaccines poses challenges due to potential incompatibilities and interactions among various components. Public awareness campaigns and regulatory approvals play a crucial role in driving the market, with a focus on pandemic preparedness and disease prevention. Vaccine packaging, cold chain management, and storage and stability are essential considerations to maintain vaccine efficacy. Clinical trials, vaccine delivery systems, and quality control are integral parts of the vaccin

The North America Cancer Vaccines Market is Segmented by Technology (Recombinant Vaccines, and More), Treatment Method (Preventive Vaccines and Therapeutic Vaccines), Cancer Type (Cervical Cancer (HPV), Melanoma and More), Delivery Route (Intramuscular, Intravenous, and More), and Geography (United States, Canada, and Mexico). The Market and Forecasts are Provided in Terms of Value (USD).

Brucellosis Vaccines Market size is expected to reach USD 401.7 Mn by 2033 from USD 242 Mn in 2023, at a CAGR of 5.2% from 2024 to 2033.

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Vaccine Research Market Size 2024-2028

The vaccine research market size is forecast to increase by USD 21.4 billion, at a CAGR of 10.84% between 2023 and 2028.

Major Market Trends & Insights

North America dominated the market and accounted for a 44% growth during the forecast period.
By the End-user - Public segment was valued at USD 12.10 billion in 2022
By the Age Group - Pediatric segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 170.05 billion
Market Future Opportunities: USD 21.40 billion
CAGR : 10.84%
North America: Largest market in 2022

Market Summary

The market is a dynamic and innovative sector, driven by advancements in biotechnology and pharmaceuticals. According to recent reports, the global vaccine market size was valued at over USD50 billion in 2020, with a significant increase in investments in research and development. This growth can be attributed to the ongoing efforts to address various infectious diseases, including those that pose a significant public health threat. Notably, the adoption of artificial intelligence (AI) and machine learning (ML) technologies has accelerated vaccine research, enabling faster identification of potential vaccines and reducing the time-to-market. For instance, AI algorithms can analyze vast amounts of data from clinical trials, predicting potential side effects and optimizing dosages.
Furthermore, ML models can identify patterns in disease outbreaks, helping researchers to focus their efforts on developing vaccines for the most pressing health concerns. Despite these advancements, the high cost of vaccine research, development, and manufacturing remains a significant challenge. However, collaborations between public and private entities, as well as government funding, are helping to mitigate these costs and ensure that vaccines remain accessible to those who need them most. Overall, the market continues to evolve, driven by the need to address new and emerging health threats and improve global health outcomes.

What will be the Size of the Vaccine Research Market during the forecast period?

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The market encompasses the development, manufacturing, and testing of various vaccine types, including live attenuated, RNA, recombinant, subunit, conjugate, peptide, inactivated, and virus-like particle vaccines. Two significant milestones in this dynamic industry are the completion of phase 3 trials and the initiation of process validation. For instance, in phase 3 trials, cohort studies involving thousands of participants assess vaccine efficacy and safety. Simultaneously, process validation ensures the consistency and reliability of manufacturing processes for vaccine production. Live attenuated vaccines, such as those based on the measles virus, have historically accounted for a substantial market share.
However, the advent of RNA vaccines, like those developed for COVID-19, has introduced innovative technologies and expanded the vaccine development pipeline. In 2020, over 200 vaccines were in various stages of clinical development, with approximately 50 in phase 3 trials. This underscores the continuous evolution and growth of the market, driven by ongoing research in adjuvants, immune profiling, immune modulation, and safety assessments.

How is this Vaccine Research Industry segmented?

The vaccine research industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  Public
  Private


Age Group

  Pediatric
  Adult


Technology

  Recombinant Vaccines
  mRNA Vaccines
  Subunit Vaccines
  Live-Attenuated Vaccines
  Inactivated Vaccines
  Viral Vector Vaccines
  Conjugate Vaccines
  Toxoid Vaccines
  Adjuvants


Disease Type

  Infectious Diseases
  Cancer
  Autoimmune Diseases
  Allergies
  Neurological Disorders


Research Phase

  Preclinical Research
  Clinical Trials (Phase I, Phase II, Phase III)
  Discovery & Development


End-User

  Pharmaceutical & Biotechnology Companies
  Academic & Research Institutions
  Contract Research Organizations (CROs)
  Government Agencies


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By End-user Insights

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

The market is driven by the ongoing global health crisis and the need for effective vaccines against var

US vaccine market valued at USD 33 Bn, expected to reach USD 59.77 Bn by 2034 at ~6% CAGR, driven by disease prevalence, awareness, and tech advancements like mRNA.

The Travel Vaccines Market Report Segments the Industry Into by Type (Cholera, Diptheria Pertussis Tetanus (DPT), Encephalitis, Hepatitis A, Meningococcal, Rabies, Typhoid, Yellow Fever, Other Types), by Travel Type (Domestic, Outbound), by Vaccination Center (Hospitals, Travel Clinics, Other Vaccination Centers), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America).

The South America Vaccines market is to add more than USD 2.30 Billion to the market size from 2023 to 2028 due to improving healthcare infrastructure.