GlaxoSmithKline generated approximately 9.3 billion U.S. dollars from vaccine sales in 2021, making it the sixth largest vaccine company in the world based on revenue. Before the pandemic and the appearance of COVID-19 vaccines, the British pharmaceutical giant used to be the global leader in vaccines.

Analyzing vaccine sales of leading companies GlaxoSmithKline reported an annual revenue of 34.1 billion British pounds in 2021 – vaccine sales accounted for around 20 percent of that figure. Year-on-year sales of Shingrix, the company’s shingles vaccine, more than doubled to almost two billion British pounds in 2020. The leading vaccine of Merck & Co. is Gardasil/Gardasil 9, which can help in the prevention of certain cancers. The vaccine is one of Merck’s top-selling products and accounted for more than half of the company’s total vaccine sales. Pfizer generated vaccine sales of nearly 43 billion U.S. dollars in 2021, of course heavily boosted by its COVID-19 vaccine sales. The pneumococcal vaccine Prevnar 13/Prevenar 13 was the company’s second product based on revenue during that year.

The race for a coronavirus vaccine Until recently, and despite growth in the global vaccine market, there were only four big pharma companies with substantial vaccine operations. However, the COVID-19 pandemic has highlighted the critical importance of vaccine research and development. Aided by government funding and partnerships, several smaller companies were among the first to enter the race to find vaccines and treatments for the disease. Biotech company Moderna, by applying its pioneering mRNA research to the problem, was among the first to bring a safe and effective COVID-19 vaccine to the broader market.

Vaccine Contract Manufacturing Market Outlook

According to our latest research, the global vaccine contract manufacturing market size reached USD 4.8 billion in 2024, reflecting robust demand and expansion across key regions. The market is projected to grow at a CAGR of 9.2% from 2025 to 2033, reaching an estimated USD 10.7 billion by 2033. This dynamic growth is primarily driven by the increasing outsourcing activities among vaccine developers, a surge in demand for advanced vaccine platforms, and the rising prevalence of infectious diseases globally. As per our analysis, the market is witnessing a paradigm shift as pharmaceutical and biotechnology companies increasingly rely on specialized contract manufacturing organizations (CMOs) to streamline production, reduce costs, and accelerate time-to-market for critical vaccines.

A key growth factor for the vaccine contract manufacturing market is the ongoing innovation in vaccine technologies, particularly with the emergence of mRNA and viral vector platforms. The COVID-19 pandemic has significantly accelerated the adoption of these advanced vaccine technologies, prompting both established and emerging vaccine developers to seek the expertise and infrastructure of CMOs. Contract manufacturers offer scalable production capabilities, specialized knowledge in regulatory compliance, and the flexibility to adapt to rapidly evolving vaccine formulations. The ability of CMOs to provide end-to-end services, from bulk manufacturing to fill-finish and packaging, is proving critical for companies aiming to keep pace with global vaccination campaigns and respond to emerging infectious threats.

Another driving force behind the expansion of the vaccine contract manufacturing market is the increasing complexity of vaccine development and the stringent regulatory landscape. The need for high-quality, GMP-compliant manufacturing processes has led many pharmaceutical and biotechnology companies to partner with CMOs that possess state-of-the-art facilities and deep regulatory expertise. These partnerships help vaccine developers mitigate risks, ensure product quality, and expedite regulatory approvals. Furthermore, the rising demand for pediatric, adult, and travel vaccines, coupled with the ongoing efforts to eradicate diseases such as polio, measles, and hepatitis, is fueling the need for efficient and reliable contract manufacturing solutions worldwide.

The market's growth trajectory is also shaped by the globalization of vaccine supply chains and the increasing emphasis on cost optimization. Pharmaceutical companies are increasingly outsourcing non-core activities to CMOs to focus on research and innovation while leveraging the operational efficiencies and economies of scale offered by contract manufacturers. This trend is particularly prominent among small and medium-sized enterprises (SMEs) and emerging biotechnology companies that lack the capital-intensive infrastructure required for large-scale vaccine production. As governments and international health organizations intensify efforts to enhance global immunization coverage, the demand for flexible, high-volume vaccine manufacturing solutions is expected to remain strong throughout the forecast period.

From a regional perspective, North America currently dominates the vaccine contract manufacturing market, accounting for the largest revenue share in 2024, followed by Europe and the Asia Pacific. The presence of leading pharmaceutical companies, robust healthcare infrastructure, and a favorable regulatory environment are key contributors to North America's leadership. However, the Asia Pacific region is anticipated to witness the fastest growth rate during the forecast period, driven by significant investments in biomanufacturing capacity, expanding vaccine R&D activities, and increasing government support for immunization programs. Latin America and the Middle East & Africa are also emerging as attractive markets, supported by rising healthcare expenditures and growing awareness of vaccine-preventable diseases.

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As of March 9, 2021, there were pre-purchase agreements for over three billion doses of AstraZeneca/Oxford's vaccine. This vaccine is by far the most sought after COVID-19 vaccine, especially due to its ability to be stored at normal refrigerator temperatures, while other vaccines might need ultra cold storage. Although still in phase III of clinical trials and without approval, Novavax's vaccine is the one with the second highest number of orders worldwide.

Global COVID-19 vaccine contracts At the same time, India had managed to secure around 2.2 billion COVID-19 vaccines doses, followed by the European Union which had signed pre-purchase agreements to secure nearly 1.84 billion doses of COVID-19 vaccines, while the United States already secured around 1.21 billion doses. AstraZeneca/Oxford's vaccine accounted for one billion doses of all vaccines secured by India, while also accounting for 300 million doses of all vaccines secured by the EU and the U.S., respectively.

Forecasted sales of COVID-19 vaccines As of November 2021, Comirnaty by BioNTech/Pfizer was the leading COVID-19 vaccine by forecasted sales revenue. It was expected to make around 36 billion U.S. dollars in sales revenue in 2021, followed by 29 billion dollars in 2022. Meanwhile, Spikevax by Moderna was projected to make 18 billion and 22 billion U.S. dollars in 2021 and 2022, respectively. Vaxzevria by AstraZeneca was forecasted to make 1.7 billion U.S. dollars in sales, followed by an additional 1.9 billion dollars by 2022. In contrast to most other biopharmaceutical companies, AstraZeneca had announced to sell its vaccine at almost net cost price.

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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

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Covid-19 Vaccination Market 2024-2028

The covid-19 vaccination market size is forecast to increase by USD -32.76 billion, at a CAGR of -37.4% between 2023 and 2028. The market is experiencing significant growth due to the expansion of vaccination programs worldwide. Governments and international organizations are investing heavily in vaccination initiatives to contain the spread of the virus. The rising research and development (R&D) investment in the development of Covid-19 vaccines is another major growth factor. However, the high cost of production of Covid-19 vaccines poses a significant challenge to market growth. Manufacturers are exploring various strategies to reduce production costs while maintaining vaccine efficacy and safety. The market is expected to witness strong growth in the coming years as more effective and affordable vaccines become available. poiuyfrtyh

What will the Covid-19 Vaccination Market Size be During the Forecast Period?

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Market Dynamics

The COVID-19 pandemic has brought about an unprecedented global health crisis, leading to the development of numerous vaccines to mitigate its impact. This content focuses on various aspects of COVID-19 vaccines, including production, distribution, administration, efficacy, safety, and regulations. COVID-19 vaccine production has been a top priority for researchers and pharmaceutical companies worldwide. Several manufacturers have developed vaccines using various technologies such as mRNA, viral vector, and protein subunit, undergoing rigorous testing and clinical trials to ensure safety and efficacy. Once vaccines receive approval from regulatory bodies, they are distributed to healthcare facilities and vaccination centers, requiring careful planning and coordination. Governments and international organizations are working to ensure equitable distribution, prioritizing vulnerable populations and herd immunity. Vaccine administration involves healthcare professionals delivering vaccines through injections, with proper training and safety protocols to minimize adverse reactions. Efficacy refers to the vaccine's ability to prevent infection or reduce the severity of symptoms, with most vaccines showing high efficacy rates, ranging from 60% to 95%. Vaccine safety is monitored closely, and while common side effects include pain and swelling at the injection site, fever, and fatigue, serious side effects are rare.

Vaccine procurement involves purchasing vaccines from manufacturers, with governments securing supplies through contracts and partnerships. Vaccine allocation ensures that vaccines are distributed to specific populations, with priority given to vulnerable groups like healthcare workers and the elderly. Vaccine prioritization determines which populations should receive vaccines first, based on risk factors. Vaccine passports are digital or physical documents that prove vaccination status, and may be required for travel or work, with regulations varying by jurisdiction. Vaccine mandates, which require vaccination for employment or participation in certain activities, remain a controversial issue. Vaccine regulations ensure vaccines are safe and effective, and policies governing vaccine use in schools, workplaces, and travel may change as supplies and public health conditions evolve.

Covid-19 Vaccination Market Driver

The expansion of vaccination programs is the key driver of the market. The market is experiencing significant growth due to the increasing demand for vaccines as governments and healthcare organizations prioritize widespread vaccination to control the virus and achieve herd immunity. This heightened demand leads to increased production and sales for vaccine manufacturers, resulting in long-term procurement contracts being signed to ensure a consistent vaccine supply. These contracts provide stability and revenue for manufacturers, with more contracts expected to be established as vaccination programs expand.

Vaccine distribution, administration, and logistics are crucial elements in the vaccine market, requiring efficient vaccine storage, transportation, and scheduling. Vaccine safety, efficacy, and monitoring are also vital considerations, along with addressing vaccine hesitancy and acceptance through education and outreach efforts. Vaccine regulations, policies, and campaigns are essential in ensuring vaccine coverage, immunity, and compliance with side effects and potential mandates or certificates.

Covid-19 Vaccination Market Trends

Rising research and development investment is the upcoming trend in the market. The Covid-19 pandemic has necessitated the rapid development, production, and distribution of vaccines to prevent and treat the disease caused by the SARS-CoV-2 virus. Governments and the private sector have collaborated to invest in va

The scope of this study encompasses the vaccine human and animal (veterinary) markets. BCC analyzes each market and its applications by its need for disease type requiring vaccination, regulatory environment, technology involved, market projections, and market share. Technological issues include the latest trends and developments.

Vaccine Contract Manufacturing Market Outlook

The vaccine contract manufacturing market size is anticipated to witness a substantial growth trajectory, with projections indicating a rise from approximately USD 3.4 billion in 2023 to USD 8.7 billion by 2032, reflecting a robust compound annual growth rate (CAGR) of 11.2%. This growth is primarily driven by an increasing demand for vaccines across the globe, spurred by surging instances of infectious diseases and heightened awareness regarding preventive healthcare measures. The pressing need for rapid vaccine development and manufacturing, as seen during the COVID-19 pandemic, further underscores the critical role of contract manufacturing organizations (CMOs) in the biopharma industry.

A major growth factor for the vaccine contract manufacturing market is the increasing demand for vaccines due to the rise in global population and the prevalence of infectious diseases. The COVID-19 pandemic has also highlighted the need for rapid vaccine production and distribution, leading to a surge in partnerships between pharmaceutical companies and contract manufacturers. These collaborations allow pharmaceutical companies to scale up production quickly without investing in new infrastructure, thus saving time and resources. Additionally, advancements in biotechnology and genetic engineering have paved the way for innovative vaccine types, which require specialized manufacturing capabilities that CMOs can provide.

Another significant driver is the increasing complexity of vaccine production, which requires specialized expertise and equipment that many pharmaceutical companies lack. This complexity is particularly evident with the development of newer vaccine types, such as mRNA vaccines, which require specific production environments and processes. Contract manufacturers offer the necessary infrastructure and technical expertise to produce these complex vaccines efficiently and at scale. Furthermore, the trend towards personalized medicine and targeted vaccines is also driving demand for contract manufacturing services, as these require more customized production processes.

The growing focus on cost-efficiency is also a critical factor in the expansion of the vaccine contract manufacturing market. Pharmaceutical and biotechnology companies are under increasing pressure to reduce costs while maintaining high-quality standards. By outsourcing vaccine manufacturing to specialized CMOs, these companies can lower their production costs and focus on their core competencies, such as research and development. Contract manufacturers can achieve economies of scale through their specialized facilities and processes, passing on cost savings to their clients. This cost advantage is especially important in the current economic climate, where budget constraints are a significant concern for many companies.

Regional outlooks for the vaccine contract manufacturing market highlight varying growth potentials across different areas. Asia Pacific is anticipated to be a leading region in terms of growth due to its burgeoning biopharmaceutical industry, cost-effective manufacturing capabilities, and supportive government policies. North America's market is expected to remain robust due to the presence of major pharmaceutical companies and advanced healthcare infrastructure. Europe also shows promise with its strong focus on research and development, along with numerous initiatives aimed at boosting vaccine production capacity. Meanwhile, regions like Latin America and the Middle East & Africa are gradually increasing their investments in healthcare infrastructure, although they still lag behind in terms of market share compared to more developed regions.

Service Type Analysis

The service type segment of the vaccine contract manufacturing market encompasses various critical operations, such as formulation, fill & finish operations, packaging, and others. Each of these services plays a vital role in the vaccine manufacturing process, ensuring that the final product is safe, effective, and delivered in a timely manner. Formulation services involve the precise mixing of active ingredients and excipients to create a stable vaccine product. This process requires a deep understanding of chemical interactions and stability testing to ensure that the vaccine remains potent and safe throughout its shelf life. Contract manufacturers specializing in formulation provide the necessary expertise and infrastructure to handle these complex processes, which is crucial for the production of high-quality vaccines.

Fill & finish operations are another e

mRNA Vaccine Manufacturing Equipment Market Outlook

According to our latest research, the global mRNA vaccine manufacturing equipment market size stood at USD 2.15 billion in 2024, reflecting robust momentum across the pharmaceutical and biotechnology sectors. The market is projected to expand at a CAGR of 12.2% from 2025 to 2033, reaching an estimated USD 6.06 billion by 2033. This remarkable growth trajectory is primarily driven by the surging demand for mRNA-based vaccines, advancements in bioprocessing technologies, and the increasing prevalence of emerging infectious diseases worldwide. The adoption of mRNA vaccine platforms for both existing and novel pathogens continues to accelerate, positioning the mRNA vaccine manufacturing equipment market for sustained expansion in the coming years.

The growth of the mRNA vaccine manufacturing equipment market is underpinned by several critical factors, chief among them being the proven efficacy and rapid development cycle of mRNA vaccines. The success of mRNA vaccines in combating the COVID-19 pandemic has transformed the global vaccine landscape, prompting governments, research organizations, and private sector entities to invest heavily in mRNA research and production infrastructure. This has led to a significant uptick in demand for specialized equipment, including upstream bioreactors, downstream purification systems, and advanced fill-finish machinery. Furthermore, the adaptability of mRNA platforms to address a wide range of infectious diseases and even non-infectious conditions such as cancer is fueling ongoing investments in the sector, further boosting market growth.

Another pivotal driver for the mRNA vaccine manufacturing equipment market is the rapid pace of technological innovation within the bioprocessing industry. Manufacturers are introducing next-generation equipment that enhances process scalability, automation, and regulatory compliance. For example, single-use bioreactors and modular manufacturing systems are gaining traction due to their flexibility and reduced risk of cross-contamination. Analytical equipment tailored for mRNA quality control and characterization is also seeing heightened demand, as regulatory agencies tighten standards for product safety and efficacy. These technological advancements not only improve manufacturing throughput but also reduce costs and time-to-market, making mRNA vaccines more accessible globally.

Strategic collaborations and partnerships between pharmaceutical companies, biotechnology firms, and contract manufacturing organizations (CMOs) are further propelling the mRNA vaccine manufacturing equipment market. These alliances are focused on expanding manufacturing capacities, sharing technical expertise, and accelerating the commercialization of new vaccine candidates. Additionally, government funding and policy initiatives aimed at strengthening pandemic preparedness and bolstering domestic vaccine production capabilities are creating a favorable environment for market expansion. As a result, the market is witnessing a surge in both greenfield and brownfield investments in mRNA manufacturing facilities, particularly in regions with strong biopharmaceutical ecosystems.

Regionally, North America continues to dominate the mRNA vaccine manufacturing equipment market, accounting for the largest share in 2024, followed closely by Europe and Asia Pacific. The United States, in particular, benefits from a well-established biotechnology sector, significant government funding, and a concentration of leading vaccine manufacturers. Meanwhile, Asia Pacific is emerging as a high-growth region due to increasing investments in biotechnology infrastructure, rising demand for advanced healthcare solutions, and supportive regulatory frameworks. Europe remains a key market with a focus on innovation and public-private partnerships. Latin America and the Middle East & Africa are expected to witness steady growth as efforts to improve vaccine accessibility and local manufacturing capabilities intensify.

Product Type Analysis

The size of the Vaccine Contract Manufacturing Industry market was valued at USD 3.51 Million in 2023 and is projected to reach USD 7.37 Million by 2032, with an expected CAGR of 11.18% during the forecast period. Vaccine contract manufacturing is one of those specialized sectors that are manufacturing vaccines on behalf of other pharmaceutical companies. Several reasons push many firms into sourcing production at contract manufacturers: lower costs, increased capacity, and exploiting highly specialized expertise. In global healthcare systems, vaccine contract manufacturers play a highly significant role, especially in ensuring delivery in a timely and efficient manner in pandemic circumstances and more general public health emergencies. The process is very complex for vaccine contract manufacturing, ranging from production and culture of viral or bacterial antigens to purification, formulation, and filling into vials or syringes. The contract manufacturers must have highly set standards of quality and must meet all requirements given by the regulatory systems they use for manufacturing vaccines. The industry is very regulated since there are strict guidelines that ensure quality control and disinfection, which takes place through regular inspection. Vaccines are at the forefront in the prevention of infectious disease and in the protection of public health. They have undoubtedly been key in decreasing the cases of several diseases, including polio, measles, and smallpox. However, vaccine production does not take a lot of rocket science to perform. It is one of those tasks that require specialized facilities and equipment, as well as specialized expertise. Contract manufacturing has opened up the opportunity for pharmaceutical companies to focus on research and development and let the manufacturing process be left to experienced and reliable partners. Vaccine contract manufacturing has emerged as a critical practice in the last decade. The recent COVID-19 pandemic had leveraged the adoption of vaccine contract manufacturing. This was a race for the vaccines based on the development of COVID-19, and massive global effort included large pharmaceutical companies along with contract manufacturers who worked together towards addressing unprecedented levels of demand. Scaling up the manufacturing in the industry played a key role in curbing the spread of this virus and saving thousands of lives. Vaccine contract manufacturing is crucial not only in the management of pandemics but also in creating a solid safeguard for long-term availability of vaccines for a number of diseases. It helps pharmaceutical companies avoid reliance on a single manufacturing site that may be subject to interruptions, therefore giving less chance for break in supply chains. In addition, the factor is a critical component of vaccines supplied in developing countries where access to basic healthcare services can be really limited. Recent developments include: August 2022: Moderna inked an agreement with the Canadian government to construct a messenger RNA vaccine manufacturing factory in an undetermined location in Canada. According to the biotech firm, the partnership will give Canadians access to mRNA vaccines made in Canada against respiratory viruses such as SARS-CoV-2, influenza, and respiratory syncytial virus., June 2022: Merck and Agilent Technologies collaborated with each other to advance process analytical technologies for downstream processing and overcome the gaps within downstream processing.. Key drivers for this market are: Advancements in Technology and Cost Benefits in Infrastructure and Operational Benefits, Increase in Initiatives Favoring Vaccinations; Favorable Patient Demographics and Growing Vaccinations of Newborns and Children. Potential restraints include: Rising High Costs of Vaccines, Lack of Storage Infrastructure and Limitations Associated with Supply Chain. Notable trends are: The Inactivated Vaccines Segment is Expected to Hold a Significant Share in the Vaccine Contract Manufacturing Market over the Forecast Period.

While the global vaccine market is currently lead by GSK, Sanofi, Merck & Co, and Pfizer, various Chinese biotechnology companies have joined the race. Chongqing Zhifei, Hualan Biological Engineering, and Beijing Tiantan Biological Products were among the top Chinese vaccine manufacturers in terms of revenues in the first three quarters of 2019.

COVID-19 Vaccines-Production Capacity & Development Timeline Market Outlook

According to our latest research, the global COVID-19 vaccines market size reached USD 40.2 billion in 2024, reflecting a significant contraction from the pandemic’s peak but remaining a critical segment of the global biopharmaceutical industry. The market is projected to grow at a CAGR of 3.7% from 2025 to 2033, reaching a forecasted value of USD 56.7 billion by 2033. This growth is primarily driven by the ongoing need for booster vaccinations, the emergence of new viral variants, and sustained investments in vaccine research and production capabilities worldwide. The market’s resilience is further supported by government procurement programs and the expansion of vaccine access in emerging economies.

The evolution of the COVID-19 vaccines market is shaped by several growth factors, notably the persistent circulation of SARS-CoV-2 and the continuous emergence of new variants that challenge existing immunity levels. Governments and health organizations worldwide remain vigilant, prioritizing the development and distribution of updated vaccines to counter variant-driven outbreaks. The introduction of bivalent and multivalent vaccines, designed to offer protection against multiple strains, has spurred ongoing demand. Furthermore, the increasing reliance on annual or biannual booster doses for vulnerable populations, such as the elderly and immunocompromised individuals, ensures a steady baseline for vaccine consumption. The integration of COVID-19 vaccination into routine immunization schedules is also anticipated to contribute to market stability over the forecast period.

Another key driver is the remarkable progress in vaccine technology, particularly the rapid advancement and deployment of mRNA vaccine platforms. The success of mRNA vaccines has not only revolutionized the response to COVID-19 but has also accelerated research and development for other infectious diseases. This technological leap has encouraged investments in flexible manufacturing infrastructure, enabling faster adaptation to emerging threats and enhancing global production capacity. Additionally, partnerships between pharmaceutical companies, governments, and contract manufacturing organizations (CMOs) have optimized supply chains, improved scalability, and facilitated technology transfer to developing regions. These collaborative efforts are essential for maintaining readiness against future pandemics and for addressing ongoing global health challenges.

Market growth is further bolstered by proactive government policies and international collaborations aimed at ensuring equitable vaccine distribution. Initiatives such as COVAX and bilateral agreements have played a crucial role in expanding vaccine access to low- and middle-income countries, thereby stimulating demand and supporting market expansion. The increasing participation of private procurement channels, including hospitals, clinics, and pharmacies, has diversified distribution networks and improved accessibility for broader populations. Moreover, the push for localized manufacturing and regulatory harmonization is streamlining vaccine approval processes and reducing dependency on a limited number of global suppliers. These trends collectively underpin the sustained growth trajectory of the COVID-19 vaccines market.

Regionally, North America and Europe continue to dominate the COVID-19 vaccines market, accounting for the largest shares due to robust healthcare infrastructure, high vaccination rates, and substantial government funding. However, the Asia Pacific region is exhibiting the fastest growth, driven by large-scale immunization campaigns, expanding manufacturing capabilities, and rising awareness about the importance of vaccination. Countries such as China and India are emerging as significant players in both vaccine production and consumption, supported by favorable policy frameworks and increasing investments in biotechnology. Latin America and the Middle East & Africa are also witnessing gradual improvements in vaccine coverage, although challenges related to infrastructure and affordability persist. Overall, the regional dynamics are expected to evolve as global efforts intensify to achieve comprehensive vaccine coverage and pandemic preparedness.

Approved COVID-19 Vaccines Market Outlook

The global market size for approved COVID-19 vaccines was estimated at $43.1 billion in 2023 and is projected to reach $82.2 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.5% during the forecast period. This remarkable growth is primarily driven by the ongoing efforts to control the pandemic, increasing vaccination rates, and the development of enhanced vaccine formulations. The demand for booster doses and the inclusion of younger age groups in vaccination programs also contribute significantly to the market's expansion.

One of the primary growth factors in the approved COVID-19 vaccines market is the continuous innovation and development of vaccines to address emerging variants of the virus. Companies are investing heavily in research and development to create vaccines that offer broader protection and longer-lasting immunity. The rapid approval processes implemented by regulatory bodies worldwide have also facilitated the timely introduction of new vaccines, thereby accelerating market growth. Additionally, pharmaceutical companies are leveraging advanced technologies such as mRNA to develop highly effective and adaptable vaccines.

Another significant growth factor is the global vaccination campaigns launched by governments and health organizations. These campaigns aim to achieve herd immunity and curb the spread of COVID-19, resulting in a high volume of vaccine administration. International collaborations and funding initiatives have also played a crucial role in ensuring the availability and accessibility of vaccines, especially in low- and middle-income countries. Furthermore, public awareness about the importance of vaccination in preventing severe illness and death has led to increased acceptance and uptake of COVID-19 vaccines.

The expansion of vaccination programs to include booster doses and vaccinations for children and adolescents has also fueled market growth. As new COVID-19 variants emerge, booster doses are becoming necessary to maintain adequate immunity levels in the population. Pediatric vaccinations are gaining approval and are being integrated into national immunization schedules, further driving the demand for COVID-19 vaccines. Moreover, the development of combination vaccines that protect against multiple viruses, including COVID-19, is anticipated to boost market growth in the coming years.

From a regional perspective, North America and Europe are currently the leading markets for approved COVID-19 vaccines, owing to their well-established healthcare infrastructure, high vaccination rates, and substantial government funding for vaccine procurement and distribution. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period, driven by large population bases, increasing public and private investments in healthcare, and robust vaccination campaigns. Latin America, the Middle East, and Africa are also anticipated to contribute to market growth, although at a comparatively slower pace.

The role of packaging in the distribution of COVID-19 vaccines cannot be overstated, with the COVID-19 Vaccine Bottle being a critical component in ensuring the safe and effective delivery of vaccines worldwide. These bottles are designed to maintain the stability and efficacy of the vaccine by protecting it from environmental factors such as temperature fluctuations and contamination. The development and production of vaccine bottles have seen significant advancements, with manufacturers focusing on materials that offer enhanced durability and safety. Moreover, the standardization of bottle sizes and labeling has facilitated streamlined logistics and distribution processes, ensuring that vaccines reach their intended destinations efficiently. As the demand for COVID-19 vaccines continues to grow, the production and innovation in vaccine bottles are expected to play a pivotal role in supporting global vaccination efforts.

Vaccine Type Analysis

The market for approved COVID-19 vaccines can be segmented by vaccine type, with mRNA vaccines, vector vaccines, protein subunit vaccines, inactivated vaccines, and others constituting the primary categories. mRNA vaccines, such as those developed by Pfizer-BioNTech and Moderna, have gained significant attention due to their high efficacy rates and rapid

The global human vaccine contract manufacturing market, valued at $6,716 million in 2025, is projected to experience robust growth, driven by a Compound Annual Growth Rate (CAGR) of 11.1% from 2025 to 2033. This expansion is fueled by several key factors. The increasing prevalence of infectious diseases globally necessitates a continuous and efficient supply of vaccines. Furthermore, the rising demand for personalized and advanced vaccine technologies, such as mRNA and DNA-based vaccines, is driving innovation and outsourcing to specialized contract manufacturers. Pharmaceutical and biotechnology companies increasingly leverage contract manufacturing organizations (CMOs) to manage the complexities of vaccine production, reduce capital expenditures, and focus on research and development. This trend is especially pronounced for smaller biotech firms lacking the infrastructure for large-scale vaccine manufacturing. The market is segmented by application (upstream and downstream processes) and vaccine type (attenuated, inactivated, subunit-based, toxoid-based, and DNA-based), with DNA-based vaccines expected to witness significant growth due to their versatility and rapid development potential. Geographical analysis indicates strong market presence across North America and Europe, with Asia Pacific emerging as a rapidly growing region driven by increasing healthcare spending and a burgeoning pharmaceutical sector. The competitive landscape is characterized by a mix of large multinational CMOs like Lonza, Fujifilm Diosynth Biotechnologies, and Catalent, alongside smaller specialized companies. The market is expected to see strategic partnerships and mergers and acquisitions as companies seek to expand their capacity and service offerings. While regulatory hurdles and stringent quality control measures present certain challenges, the overall market outlook remains positive, driven by continuous innovation, expanding global immunization programs, and a growing demand for high-quality, cost-effective vaccine production. Future growth will be influenced by factors such as government regulations, technological advancements, and the emergence of novel vaccines to combat emerging infectious diseases. The market's trajectory strongly suggests a bright future for contract manufacturers specializing in human vaccines.

The Vaccine Contract Manufacturing Market is Segmented by Vaccine Type (Inactivated, Live-Attenuated, RNA, and More), Process (Downstream {Analytical & QC, and More} and Upstream {Bacterial, Mammalian, and More), Scale of Operations (Preclinical, Clinical, and More), End User (Human and Veterinary), and Geography (North America, Europe, Asia-Pacific, and More). The Market Sizes and Forecasts are Provided in Terms of Value (USD).

The Market Report Covers Europe Veterinary Vaccine Manufacturers and is Segmented by Animal Vaccine Type (Livestock Vaccines and Companion Animal Vaccines), Technology (Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, and Other Technologies), and Geography (Germany, United Kingdom, France, Italy, Spain and Rest of Europe). The value is provided in (USD million) for the above segments.

Overview

New York, NY – May 14, 2025 – Global Vaccine Contract Manufacturing Market size is expected to be worth around US$ 5.0 billion by 2033 from US$ 2.4 billion in 2023, growing at a CAGR of 7.6% during the forecast period 2024 to 2033.

The global vaccine contract manufacturing sector is witnessing robust growth, driven by increasing demand for cost-effective and scalable vaccine production solutions. Vaccine contract manufacturing involves outsourcing the production process to specialized third-party organizations, offering capabilities such as formulation, filling, packaging, and quality control. This approach enables pharmaceutical companies to accelerate production timelines, manage operational costs, and maintain regulatory compliance across global markets.

Rising incidences of infectious diseases, including influenza, hepatitis, and human papillomavirus (HPV), have contributed to the increasing demand for vaccine development and production. Additionally, the COVID-19 pandemic underscored the vital role of contract manufacturing organizations (CMOs) in ensuring rapid and widespread vaccine availability. Governments and healthcare providers across various regions continue to invest in public immunization programs, further supporting market growth.

Technological advancements, such as single-use bioreactors and mRNA production platforms, are enhancing manufacturing efficiency and adaptability. These innovations are helping contract manufacturers meet the growing need for personalized and novel vaccine types, including recombinant and conjugate vaccines.

North America holds a significant share of the global market due to well-established biopharmaceutical infrastructure and high R&D expenditure. However, the Asia-Pacific region is expected to witness the fastest growth, driven by rising vaccine demand, favorable government initiatives, and the expansion of manufacturing capabilities in countries like India and China.

The global combination vaccine market is poised for significant growth, projected to be valued at $9,510.7 million in 2025 and exhibiting a Compound Annual Growth Rate (CAGR) of 5% from 2025 to 2033. This robust expansion is driven by several key factors. Increasing incidence of vaccine-preventable diseases, particularly in developing nations, necessitates the cost-effective and efficient administration of multiple vaccines through combination formulations. Furthermore, governmental initiatives promoting vaccination campaigns and improved healthcare infrastructure are fueling market growth. The rising awareness among parents regarding the benefits of combination vaccines for child immunization is another key driver. Technological advancements leading to the development of newer, safer, and more effective combination vaccines also contribute significantly. The market is segmented by vaccine type (3-combination, 4-combination, 5-combination, and others) and application (adults and children), offering diverse opportunities for manufacturers. The geographical distribution of the market is broad, with North America, Europe, and Asia Pacific representing significant market shares, driven by robust healthcare systems and high vaccination rates in these regions. However, challenges such as vaccine hesitancy and limited access to healthcare in certain regions pose potential restraints. The competitive landscape is characterized by the presence of major pharmaceutical companies such as GSK, Sanofi Pasteur, Merck, Pfizer, CNBG, Sanofi Pasteur MSD, Serum Institute of India, and Biokangtai, actively engaged in research and development, production, and distribution of combination vaccines. These companies are strategically focusing on expanding their product portfolios, forging partnerships, and entering new markets to capitalize on the growth opportunities. The market is expected to see further consolidation and innovation in the coming years, leading to the introduction of advanced combination vaccines with enhanced efficacy and safety profiles. The continued focus on improving vaccine delivery systems and addressing challenges related to vaccine storage and transportation will play a vital role in shaping the future of the combination vaccine market.

The Vaccines Manufacturers MVX Codes database provides both active and inactive manufacturers of vaccines in the US. The CDC's National Center for Immunization and Respiratory Diseases (NCIRD) developed and maintains HL7 Standard Code Set MVX - Manufacturers of Vaccines.

As of May 2021, U.S. investor Blackrock Inc owned more than seven percent of total shares of pharmaceutical companies AstraZeneca, Pfizer, Novavax, and Johnson & Johnson, respectively. The statistic illustrates major shareholdings iat select pharmaceutical companies which are involved in the development and production of COVID-19 vaccines as of May 2021, by investor.

This document provides guidance on establishment licensing, product quality and lot release to bring a COVID-19 vaccine to market in Canada.