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

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

The Therapeutic Vaccine Market is Segmented by Products (Autoimmune Disease Vaccines, Cancer Vaccines, and More), Technology (Allogeneic Vaccines and Autologous Vaccines), Age Group (Adults and More), Distribution Channel (Public and Private) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America). The Market and Forecasts are Provided in Terms of Value (USD).

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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

The Influenza Vaccines Market Report is Segmented by Vaccine Type (Quadrivalent, Trivalent, and More), Form (Inactivated, Live Attenuated, and More), Age Group (Pediatric, Adults), Route of Administration (Injection, Nasal Spray), Distribution Channel (Hospitals & Clinics, Pharmacies, and More), and Geography (North America, Europe, Asia Pacific, and More). The Market Forecasts are Provided in Terms of Value (USD).

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

The Viral Vaccines Market is Segmented by Form (Liquid Vaccines and Lyophilized Vaccines), Type (Live-Attenuated, Inactivated, and More), Approach (Therapeutic and Preventive), Age Group (Pediatric, Adult, and Geriatric), Distribution Channel (Public and Private) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America). The Market and Forecasts are Provided in Terms of Value (USD).

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

In 2024, Market Research Intellect valued the Non-invasive Vaccine Market Report at USD 5.2 billion, with expectations to reach USD 12.8 billion by 2033 at a CAGR of 10.5%.Understand drivers of market demand, strategic innovations, and the role of top competitors.

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.

• 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

Attribute	Detail
Drivers	Increase in Investments in mRNA Vaccines and Significant Innovations Growth in Emphasis on Cancer Treatment

Regional Outlook of mRNA Vaccine Industry

Attribute	Detail
Leading Region	North America

Global mRNA Vaccine Market Snapshot

Attribute	Detail
Market Value in 2023	US$ 21.7 Bn
Forecast (Value) in 2034	US$ 9.6 Bn
Growth Rate (CAGR)	-4.3%
Forecast Period	2024-2034
Historical Data Available for	2020-2022
Quantitative Units	US$ Mn for Value
Market Analysis	It provides segment analysis as well as regional level analysis. Furthermore, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis.
Competition Landscape	Market share analysis by company (2022) Company profiles section includes overview, product portfolio, sales footprint, key subsidiaries or distributors, strategy & recent developments, and key financials
Format	Electronic (PDF) + Excel
Market Segmentation	Application COVID-19 Others End-user Government Entities Private Hospitals & Clinics Others (Pharmacies etc.)
Regions Covered	North America Latin America Europe Asia Pacific Middle East & Africa
Countries Covered	U.S. Canada Germany U.K. France Italy Spain China India Japan Australia & New Zealand Brazil Mexico South Africa GCC Countries
Companies Profiled	Pfizer, Inc. Moderna Inc. Novartis AG Sanofi Arcturus Gennova Biopharmaceuticals Ltd Aimei Vaccine Co., Ltd Other Prominent Players
Customization Scope	Available upon request
Pricing	Available upon request

Discover the booming killed poultry vaccine market! Explore key trends, regional analysis (North America, Europe, Asia-Pacific), and growth projections (2025-2033) in this comprehensive market report. Learn about drivers, restraints, and leading companies shaping the future of poultry disease prevention.

The Preventive Vaccines Market report segments the industry into By Vaccine Type (Live/Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, Toxoid Vaccines, mRNA Vaccines, Other Vaccine Types), By Disease Type (Pneumococcal, Poliovirus, Hepatitis, Influenza, Measles, Mumps, and Rubella (MMR), COVID-19, Other Disease Types), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America).

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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.

The Japan vaccine market was valued at USD 4.15 Billion in 2024, driven by the introduction of innovative vaccine technologies in the region. The market is anticipated to grow at a CAGR of 8.30% during the forecast period of 2025-2034, with the values likely to reach USD 9.21 Billion by 2034. The increasing government initiatives for vaccine development and Japan's strong healthcare infrastructure are likely to enhance widespread vaccination access and drive market expansion.

• 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

Attribute	Detail
Market Drivers	Rise in Incidence of Infectious Diseases Increasing Number of Clinical Research Activities

Regional Analysis

Attribute	Detail
Leading Region	North America

Inactivated Vaccines Market Snapshot

Attribute	Detail
Market Size in 2023	US$ 40.6 Bn
Market Forecast (Value) in 2034	US$ 74.8 Bn
Growth Rate (CAGR)	5.7%
Forecast Period	2024-2034
Historical Data Available for	2020-2022
Quantitative Units	US$ Bn for Value
Market Analysis	It includes segment analysis as well as regional level analysis. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis.
Competition Landscape	Market share analysis by company (2023) Company profiles section includes overview, product portfolio, sales footprint, key subsidiaries or distributors, strategy & recent developments, and key financials
Format	Electronic (PDF) + Excel
Market Segmentation	Vaccine Type Viral Vaccine Bacterial Vaccine Method of Inactivation Solvent Detergent Method Radiation Method pH Concentration Others (Heat Inactivation, etc.) Route of Administration Oral Subcutaneous Intravenous End-user Hospitals Specialty Clinics Homecare Settings Others (Research Centers, etc.)
Regions Covered	North America Europe Asia Pacific Latin America Middle East & Africa
Countries Covered	U.S. Canada Germany U.K. France Italy Spain China India Japan Australia & New Zealand Brazil Mexico South Africa GCC
Companies Profiled	GSK plc Novartis AG Mylan N.V. Sanofi S.A. Boehringer Ingelheim International GmbH Merck & Co., Inc. F. Hoffmann-La Roche AG Bristol-Myers Squibb Company Bharat Biotech Serum Institute of India INOVIO Pharmaceuticals, Inc.
Customization Scope	Available Upon Request
Pricing	Available Upon Request

The France Vaccine market is anticipated to add more than USD 900 Million from 2023 to 2028.

Explore the forecasted growth of the global vaccine market, with an anticipated 0.5% CAGR in volume and 0.6% CAGR in value from 2024 to 2030.

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. 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.

The Vaccine Market size was valued at USD 102.94 billion in 2023 and is projected to reach USD 113.46 billion by 2032, exhibiting a CAGR of 1.4 % during the forecasts period.