The vaccines market size is projected to reach US$ 118.94 billion by 2031 from US$ 80.45 billion in 2024. The market is expected to register a CAGR of 5.7% during 2025–2031. Integration of artificial intelligence and big data in vaccine development is emerging as a significant trend in the vaccines market.
Vaccines Market Analysis
The vaccines market is witnessing substantial growth due to a surge in infectious diseases and heightened public awareness following the COVID‑19 pandemic. Immunization programs across the world have intensified to tackle the rising disease burden from influenza, HPV, and hepatitis. Technological innovation, notably the advent of mRNA, viral-vector, recombinant platforms, AI-driven antigen design, and advanced delivery systems, has accelerated R&D pipelines and enabled rapid, scalable development. Additionally, government funding and policy support play crucial roles: national immunization initiatives, accelerated regulatory pathways, and public–private partnerships such as Gavi and COVAX are lowering barriers and expanding access. Growing healthcare investment in emerging markets, especially Asia Pacific, where expanding middle classes and enhanced infrastructure are boosting uptake, further strengthens market prospects. These factors collectively contribute to the sustained expansion of the vaccines market.
Vaccines Market Overview
The global vaccines market is undergoing accelerated expansion, driven by the expanding burden of infectious diseases, such as influenza, HPV, COVID‑19, and emerging pathogens, emphasizing the urgent demand for preventive healthcare solutions. Key market drivers include cutting-edge innovations in vaccine technologies, notably mRNA, viral-vector, recombinant, and nanotechnology-based platforms, which significantly enhance development speed and efficacy. Additional factors fueling the market growth encompass increasing urbanization and population density, greater uptake of adult and elderly vaccination, use of combination vaccines that simplify immunization schedules. Furthermore, sustained investment in research and development targeting non-infectious diseases—such as cancer and allergies—is broadening the scope and impact of vaccines.
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Vaccines Market: Strategic Insights

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Vaccines Market: Strategic Insights

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Vaccines Market Drivers and Opportunities
Surging Immunization Programs and Government Initiatives Bolster Market
Immunization programs offer services that ensure immunity to vaccine-preventable diseases. These services include documenting evidence of immunity, administering immunizations and re-immunizations, and maintaining records for reporting to state or local immunization information systems (IIS), also known as vaccine registries.
The Essential Programme for Immunization (EPI), developed by WHO in 1974, was designed to coordinate the targeted implementation of vaccination through national immunization programs. This initiative has been instrumental in expanding global vaccine access. Additionally, the establishment of Gavi, the Vaccine Alliance, an independent multilateral funding mechanism in 2000, aimed at increasing global access to vaccines, has played a critical role in facilitating vaccine introduction in low- and middle-income countries (LMICs). According to an article published in the Journal of Infectious Diseases in October 2021, it is estimated that vaccine access has prevented at least 37 million deaths in 98 LMICs by protecting against 10 vaccine-preventable diseases, including Haemophilus influenzae type B, Japanese encephalitis, Neisseria meningitidis serogroup A, measles, Streptococcus pneumoniae, rotavirus, rubella, and yellow fever.
The World Health Assembly, with the support of various countries and partners, launched a strategy called the Immunization Agenda 2030 in 2020. This initiative aims to address vaccination challenges and save over 50 million lives by 2030. In the US, vaccination initiatives are diverse and include federal programs like the Vaccines for Children program, as well as state and local efforts and partnerships with various organizations. As the programs aim to increase vaccination rates, ensure equitable access to vaccines, and combat diseases that can be prevented through vaccination, the vaccines market continues to grow at a significant rate.
Development of Combination and Therapeutic Vaccines to Create Growth Opportunities
The vaccine industry is currently experiencing a transformative phase, with combination and therapeutic vaccines emerging as the most promising opportunities for manufacturers. Innovations in these vaccines not only address evolving public health challenges but also provide significant commercial and operational advantages.
Combination vaccines are formulations designed to protect against multiple diseases in a single shot. Traditionally used in pediatric care, as seen with vaccines like MMR (measles, mumps, rubella) and DTP (diphtheria, tetanus, pertussis), combination vaccines are now expanding their reach to adult and elderly populations. This is particularly relevant for respiratory illnesses such as influenza, COVID-19, and Respiratory Syncytial Virus (RSV). Combination vaccines can greatly improve immunization rates, resulting in a quicker and more extensive reduction in disease burden. They are especially important as new vaccines for diseases such as dengue, typhoid, RSV, and tuberculosis are being developed. According to Gavi, by 2030, combination vaccines will provide protection against 30 infections with fewer doses.
Major pharmaceutical companies, including Moderna, Pfizer/BioNTech, Novavax, Sanofi, GSK, and AstraZeneca, are developing combination vaccines for COVID-19, influenza, and RSV. These products are anticipated to transform seasonal immunization strategies and enhance uptake among adults and elderly populations. In June 2025, Moderna, Inc. announced that the US Food and Drug Administration (FDA) approved mRESVIA (mRNA-1345), the company's RSV vaccine, for the prevention of lower respiratory tract disease (LRTD) caused by RSV in individuals aged 18–59 years who are at increased risk for disease. This approval expanded the previous indication of mRESVIA, which was approved in May 2024 for adults aged 60 years and older.
Additionally, therapeutic vaccines are designed not to prevent diseases but to treat existing conditions, which can include chronic infections, cancers, and allergies. This approach represents a new frontier in vaccine technology, utilizing advancements in mRNA, viral vectors, and personalized medicine. For instance, cancer vaccines aim to stimulate the immune system to recognize and attack tumor cells. Additionally, some vaccines are being developed for chronic infections such as hepatitis B and HIV. As of 2024, the US Food and Drug Administration (FDA) has approved three therapeutic vaccines: Sipuleucel-T for advanced prostate cancer, Bacillus Calmette-Guérin for high-risk, non-muscle-invasive bladder cancer, and Talimogene laherparepvec for melanoma. Therefore, the development of combination and therapeutic vaccines presents substantial opportunities for vaccine manufacturers to grow, innovate, and create a meaningful impact. These vaccines simplify immunization, expand their applications, and address both preventive and therapeutic health needs worldwide.
Vaccines Market Report Segmentation Analysis
Key segments that are the foundation of vaccines market analysis are type, indication, route of administration, and age group.
- Based on type, the vaccines market is segmented into conjugated vaccines, inactivated and subunit vaccines, live attenuated vaccines, recombinant vaccines, and toxoid vaccines. The conjugated vaccines segment held the largest share of the market in 2024.
- In terms of indication, the vaccines market is categorized into HPV, PCV, DTP, hepatitis, influenza, dengue, and others. The HPV segment dominated the market in 2024.
- By route of administration, the market is classified into injection, oral, and other. The injection segment dominated the vaccines market share in 2024.
- In terms of age group, the vaccines market is bifurcated into pediatric and adult. The pediatric segment dominated the market in 2024.
Vaccines Market Share Analysis by Geography
The geographical scope of the vaccines market report is divided into five regions: North America, Asia Pacific, Europe, the Middle East and Africa, and South and Central America.
North America held a significant share of the market in 2024. A primary catalyst is the increase in cases of infectious diseases, which has created sustained demand for preventive healthcare solutions, including vaccines. Mass immunization programs for the prevention of infectious diseases drive the need for vaccines on a large scale, owing to which several initiatives and strategies are being encouraged to enhance vaccine production facilities in North America. Moreover, private sector partnerships, international collaborations, and increased funding from both government and non-government organizations have fueled the pipeline for new vaccine candidates. Rising awareness about travel-related vaccinations and the resurgence of preventable diseases such as measles due to vaccine hesitancy have also spotlighted the importance of immunization, thereby stimulating market growth.
Vaccines Market Regional Insights
The regional trends and factors influencing the Vaccines Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Vaccines Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

- Get the Regional Specific Data for Vaccines Market
Vaccines Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2024 | US$ 80.45 Billion |
Market Size by 2031 | US$ 118.94 Billion |
Global CAGR (2025 - 2031) | 5.7% |
Historical Data | 2021-2023 |
Forecast period | 2025-2031 |
Segments Covered |
By Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
Vaccines Market Players Density: Understanding Its Impact on Business Dynamics
The Vaccines Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Vaccines Market are:
- GlaxoSmithKline plc
- Sanofi SA
- CSL Seqirus
- Abbott
- Serum Institute of India Pvt. Ltd.
- Sinovac Biotech Ltd
Disclaimer: The companies listed above are not ranked in any particular order.

- Get the Vaccines Market top key players overview
Vaccines Market News and Recent Developments
The vaccines market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A key development in the market is listed below:
- Serum Institute of India, the world’s largest vaccine manufacturer by dose volume, entered into an exclusive global agreement with ImmunityBio, Inc., to supply Bacillus Calmette-Guerin (BCG) to ImmunityBio. The deal includes the production of standard BCG, approved for use outside the US, as well as a next-generation recombinant BCG (iBCG), currently undergoing testing. The two companies collaborate to expedite the Phase 2 clinical trials of iBCG being conducted in Europe. (Source: Serum Institute of India Pvt. Ltd., Press Release, May 2024)
- GSK entered into an agreement with the Government of Canada for pandemic and seasonal influenza vaccines to help protect Canadian adults and children. The four-year agreement, spanning through March 2026, includes the supply of as many as 80 million doses of Arepanrix (adjuvanted pandemic influenza vaccine) in the event of an influenza pandemic(s) and a minimum of 4 million doses per year of Flulaval Tetra (seasonal influenza vaccine). (Source: GlaxoSmithKline plc., Press Release, July 2022)
Vaccines Market Report Coverage and Deliverables
The "Vaccines Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Vaccines market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Vaccines market trends and market dynamics, such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Vaccines market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the vaccines market
- Detailed company profiles
Frequently Asked Questions
Which region dominated the vaccines market in 2024?
North America dominated the market in 2024.
What are the factors driving vaccines market growth?
The growing incidences of infectious diseases and disease outbreaks, and surging immunization programs and government initiatives contribute to market growth.
Which are the leading players operating in the vaccines market?
GlaxoSmithKline plc, Sanofi SA, CSL Seqirus, Abbott, Serum Institute of India Pvt. Ltd., Sinovac Biotech Ltd, Pfizer Inc., Mylan NV, Novartis, and Merck are among the key players operating in the vaccines market.
What is the estimated value of the vaccines market by 2031?
The market is expected to reach US$ 118.94 billion by 2031.
What is the expected CAGR of the vaccines market?
The market is estimated to register a CAGR of 5.7% during the forecast period.
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
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The List of Companies - Vaccines Market
- GlaxoSmithKline plc
- Sanofi SA
- CSL Seqirus
- Abbott
- Serum Institute of India Pvt. Ltd.
- Sinovac Biotech Ltd
- Pfizer Inc
- Mylan NV
- Novartis
- Merck


