Global Vaccines Market Size & Trends Report by Vaccine Type (Recombinant, Conjugate, mRNA, Others), Route of Administration (Oral, Parenteral, Nasal), Disease Type (Viral Diseases, Bacterial, Cancer, Allergy), Age, Distribution Channel & Regional Forecasts to 2029
The global vaccines market is anticipated to grow at a steady CAGR of around 6-9% over the forecast period, driven by several factors. Key drivers include increased investment in vaccine research and development, growing awareness of immunization benefits, the introduction of new and innovative vaccines targeting previously unmet healthcare needs, and ongoing government support for vaccine programs. However, market growth faces challenges, such as high R&D costs and logistical hurdles, particularly in low-income regions with limited healthcare infrastructure. To learn more about the research report, download a sample report.
Report Overview
The vaccine market encompasses the research, development, production, and distribution of vaccines, which are biological preparations that stimulate an individual’s immune system to provide immunity against specific diseases. These vaccines are crucial in preventing infectious diseases and reducing mortality rates worldwide. The market includes various vaccines targeting viral, bacterial, and parasitic infections, administered through government immunization programs, private healthcare providers, and non-profit organizations. In addition, the market is influenced by increasing awareness about immunization benefits and the ongoing expansion of vaccination campaigns globally. 
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Rising Global Demand: Addressing the Surge in Infectious Diseases
The increasing global incidence of infectious diseases is a primary factor driving growth in the vaccine market. Rising concerns about contagious diseases such as COVID-19, seasonal influenza, hepatitis, and human papillomavirus (HPV) have underscored the need for effective, readily available vaccines. Health organizations and governments are increasingly prioritizing vaccination efforts to prevent disease outbreaks, lower healthcare expenses associated with treating infectious diseases, and improve public health outcomes. In addition to reducing individual health risks, vaccines contribute to community-wide protection, encouraging higher immunization rates across diverse population groups. The awareness generated by recurrent pandemics and local disease outbreaks further bolsters public demand for vaccines, positioning immunization as a critical component of preventive healthcare.
Transformative Innovation: Advancements in mRNA Vaccine Technology
Advancements in mRNA vaccine technology represent a pivotal trend in the vaccine market, with the potential to reshape the sector profoundly. mRNA technology allows rapid vaccine development by using genetic information to direct the body’s cells to produce an immune response to specific pathogens. This approach has proven highly effective, as demonstrated by the swift development and deployment of COVID-19 vaccines, which achieved high efficacy in a record production time. Research into mRNA is now extending beyond COVID-19, with applications under exploration for other infectious diseases and even therapeutic areas such as oncology. These advancements boost vaccine accessibility and speed, while also enabling the development of precision-targeted vaccines, fueling ongoing innovation in the market. 
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Competitive Landscape Analysis
The global vaccines market is marked by the presence of established and emerging market players such as Merck & Co. Inc.; Pfizer Inc.; Moderna Inc.; Serum Institute of India Pvt. Ltd.; Seqirus; Sanofi; GSK Plc.; Sinovac; BioNTech SE; AstraZeneca; and Emergent among others. Leading companies are focusing on key strategies such as product innovation and development, forming strategic partnerships and collaborations, and expanding their geographic presence to strengthen their market position.
Report Scope
| Report Scope | Details |
| Base Year Considered | 2023 |
| Historical Data | 2022 - 2023 |
| Forecast Period | 2024 - 2029 |
| Market Drivers |
|
| Attractive Opportunities |
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| Segment Scope | Vaccine Type, Route of Administration, Disease Type, Age and Distribution Channel |
| Regional Scope |
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| Key Companies Mapped | Merck & Co. Inc.; Pfizer Inc.; Moderna Inc.; Serum Institute of India Pvt. Ltd.; Seqirus; Sanofi; GSK Plc.; Sinovac; BioNTech SE; AstraZeneca; and Emergent among others |
| Report Highlights | Market Size & Forecast, Growth Drivers & Restraints, Trends, Competitive Analysis |
Market Segmentation
This report by Medi-Tech Insights provides size of the vaccine market at the regional- and country-level from 2022 to 2029. The report further segments the market on the basis of vaccine type, route of administration, disease type, age and distribution channel.
- Market Size & Forecast (2022-2029), By Vaccine Type, USD Million
- Recombinant Vaccines
- Conjugate Vaccines
- Inactivated
- Live Attenuated
- Viral Vector Vaccines
- mRNA Vaccines
- Others
- Market Size & Forecast (2022-2029), By Route of Administration, USD Million
- Oral
- Parenteral
- Nasal
- Market Size & Forecast (2022-2029), By Disease Type, USD Million
- Viral Diseases
- Hepatitis
- Influenza
- HPV
- MMR
- Rotavirus
- Herpes Zoster
- Covid-19
- Others
- Bacterial Vaccines
- Meningococcal Diseases
- Pneumococcal diseases
- DPT
- Others
- Cancer Vaccines
- Allergy Vaccines
- Viral Diseases
- Market Size & Forecast (2022-2029), By Age, USD Million
- Paediatric
- Adult
- Market Size & Forecast (2022-2029), By Distribution Channel, USD Million
- Hospital & Retail Pharmacies
- Government Suppliers
- Others
- Market Size & Forecast (2022-2029), By Region, USD Million
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
- North America
Key Strategic Questions Addressed
- What is the market size & forecast of the global vaccines market?
- What are historical, present, and forecasted market shares and growth rates of various segments and sub-segments of the global vaccines market?
- What are the key trends defining the market?
- What are the major factors impacting the market?
- What are the opportunities prevailing in the market?
- Which region has the highest share in the global market? Which region is expected to witness the highest growth rate in the next 5 years?
- Who are the major players operating in the market?
- What are the key strategies adopted by players?
- Introduction
- Introduction
- Market Scope
- Market Definition
- Segments Covered
- Regional Segmentation
- Research Timeframe
- Currency Considered
- Study Limitations
- Stakeholders
- List of Abbreviations
- Key Conferences and Events (2023-2024)
- Research Methodology
- Secondary Research
- Primary Research
- Market Estimation
- Bottom-Up Approach
- Top-Down Approach
- Market Forecasting
- Executive Summary
- Vaccines Market Snapshot (2023-2029)
- Segment Overview
- Regional Snapshot
- Competitive Insights
- Market Overview
- Market Dynamics
- Drivers
- Rising prevalence of infectious diseases
- Increased government funding and immunization programs
- Advancements in vaccine technologies
- Growing public awareness about vaccine benefits
- Rise in pharmaceutical R&D investment
- Restraints
- High costs associated with vaccine R&D
- Stringent regulatory approval processes
- Limited healthcare infrastructure in certain regions
- Opportunities
- Expanding vaccine access in emerging markets
- Increasing partnerships between governments and biotech firms
- Key Market Trends
- mRNA vaccine technology expansion beyond COVID-19
- Growth in digital health solutions for vaccine tracking and management
- Drivers
- Unmet Market Needs
- Industry Speaks
- Regulatory Analysis
- Market Dynamics
- Global Vaccines Market Size & Forecast (2022-2029), By Vaccine Type, USD Million
- Introduction
- Recombinant Vaccines
- Conjugate Vaccines
- Inactivated
- Live Attenuated
- Viral Vector Vaccines
- mRNA Vaccines
- Others
- Global Vaccines Market Size & Forecast (2022-2029), By Route of Administration, USD Million
- Introduction
- Oral
- Parenteral
- Nasal
- Global Vaccines Market Size & Forecast (2022-2029), By Disease Type, USD Million
- Introduction
- Viral Diseases
- Hepatitis
- Influenza
- HPV
- MMR
- Rotavirus
- Herpes Zoster
- Covid-19
- Others
- Bacterial Vaccines
- Meningococcal Diseases
- Pneumococcal diseases
- DPT
- Others
- Cancer Vaccines
- Allergy Vaccines
- Global Vaccines Market Size & Forecast (2022-2029), By Age, USD Million
- Introduction
- Paediatric
- Adult
- Global Vaccines Market Size & Forecast (2022-2029), By Distribution Channel, USD Million
- Introduction
- Hospital & Retail Pharmacies
- Government Suppliers
- Others
- Global Vaccines Market Size & Forecast (2022-2029), By Region, USD Million
- Introduction
- North America Vaccine Market Size & Forecast (2022-2029), By Country, USD Million
- US
- Market Size & Forecast, By Vaccine Type (USD Million)
- Market Size & Forecast, By Route of Administration (USD Million)
- Market Size & Forecast, By Disease Type (USD Million)
- Market Size & Forecast, By Age (USD Million)
- Market Size & Forecast, By Distribution Channel (USD Million)
- Canada
- Market Size & Forecast, By Vaccine Type (USD Million)
- Market Size & Forecast, By Route of Administration (USD Million)
- Market Size & Forecast, By Disease Type (USD Million)
- Market Size & Forecast, By Age (USD Million)
- Market Size & Forecast, By Distribution Channel (USD Million)
- US
- Europe Vaccine Market Size & Forecast (2022-2029), By Country, USD Million
- UK
- Market Size & Forecast, By Vaccine Type (USD Million)
- Market Size & Forecast, By Route of Administration (USD Million)
- Market Size & Forecast, By Disease Type (USD Million)
- Market Size & Forecast, By Age (USD Million)
- Market Size & Forecast, By Distribution Channel (USD Million)
- Germany
- Market Size & Forecast, By Vaccine Type (USD Million)
- Market Size & Forecast, By Route of Administration (USD Million)
- Market Size & Forecast, By Disease Type (USD Million)
- Market Size & Forecast, By Age (USD Million)
- Market Size & Forecast, By Distribution Channel (USD Million)
- France
- Market Size & Forecast, By Vaccine Type (USD Million)
- Market Size & Forecast, By Route of Administration (USD Million)
- Market Size & Forecast, By Disease Type (USD Million)
- Market Size & Forecast, By Age (USD Million)
- Market Size & Forecast, By Distribution Channel (USD Million)
- Italy
- Market Size & Forecast, By Vaccine Type (USD Million)
- Market Size & Forecast, By Route of Administration (USD Million)
- Market Size & Forecast, By Disease Type (USD Million)
- Market Size & Forecast, By Age (USD Million)
- Market Size & Forecast, By Distribution Channel (USD Million)
- Spain
- Market Size & Forecast, By Vaccine Type (USD Million)
- Market Size & Forecast, By Route of Administration (USD Million)
- Market Size & Forecast, By Disease Type (USD Million)
- Market Size & Forecast, By Age (USD Million)
- Market Size & Forecast, By Distribution Channel (USD Million)
- Rest of Europe
- Market Size & Forecast, By Vaccine Type (USD Million)
- Market Size & Forecast, By Route of Administration (USD Million)
- Market Size & Forecast, By Disease Type (USD Million)
- Market Size & Forecast, By Age (USD Million)
- Market Size & Forecast, By Distribution Channel (USD Million)
- UK
- Asia Pacific (APAC) Vaccine Market Size & Forecast (2022-2029), By Country, USD Million
- China
- Market Size & Forecast, By Vaccine Type (USD Million)
- Market Size & Forecast, By Route of Administration (USD Million)
- Market Size & Forecast, By Disease Type (USD Million)
- Market Size & Forecast, By Age (USD Million)
- Market Size & Forecast, By Distribution Channel (USD Million)
- Japan
- Market Size & Forecast, By Vaccine Type (USD Million)
- Market Size & Forecast, By Route of Administration (USD Million)
- Market Size & Forecast, By Disease Type (USD Million)
- Market Size & Forecast, By Age (USD Million)
- Market Size & Forecast, By Distribution Channel (USD Million)
- India
- Market Size & Forecast, By Vaccine Type (USD Million)
- Market Size & Forecast, By Route of Administration (USD Million)
- Market Size & Forecast, By Disease Type (USD Million)
- Market Size & Forecast, By Age (USD Million)
- Market Size & Forecast, By Distribution Channel (USD Million)
- Rest of Asia Pacific
- Market Size & Forecast, By Vaccine Type (USD Million)
- Market Size & Forecast, By Route of Administration (USD Million)
- Market Size & Forecast, By Disease Type (USD Million)
- Market Size & Forecast, By Age (USD Million)
- Market Size & Forecast, By Distribution Channel (USD Million)
- China
- Latin America (LATAM) Vaccine Market Size & Forecast (2022-2029), USD Million
- Market Size & Forecast, By Vaccine Type (USD Million)
- Market Size & Forecast, By Route of Administration (USD Million)
- Market Size & Forecast, By Disease Type (USD Million)
- Market Size & Forecast, By Age (USD Million)
- Market Size & Forecast, By Distribution Channel (USD Million)
- Middle East & Africa (MEA) Vaccine Market Size & Forecast (2022-2029), USD Million
- Market Size & Forecast, By Vaccine Type (USD Million)
- Market Size & Forecast, By Route of Administration (USD Million)
- Market Size & Forecast, By Disease Type (USD Million)
- Market Size & Forecast, By Age (USD Million)
- Market Size & Forecast, By Distribution Channel (USD Million)
- Competitive Landscape
- Key Players and their Competitive Positioning
- Key Player Comparison
- Segment-wise Player Mapping
- Market Share Analysis (2023)
- Company Categorization Matrix
- Dominants/Leaders
- New Entrants
- Emerging Players
- Innovative Players
- Key Strategies Assessment, By Player (2022-2024)
- New Product Launches
- Partnerships, Agreements, & Collaborations
- Mergers & Acquisitions
- Geographic Expansion
- Key Players and their Competitive Positioning
- Company Profiles* (Business Overview, Financial Performance**, Products Offered, Recent Developments)
- Merck & Co. Inc.
- Pfizer Inc.
- Moderna Inc.
- Serum Institute of India Pvt. Ltd.
- Seqirus
- Sanofi
- GSK Plc.
- Sinovac
- BioNTech SE
- AstraZeneca
- Emergent
- Other Prominent Players
Note: *Indicative list
**For listed companies
The study has been compiled based on extensive primary and secondary research.
Secondary Research (Indicative List)
Primary Research
To validate research findings (market size & forecasts, market segmentation, market dynamics, competitive landscape, key industry trends, etc.), extensive primary interviews were conducted with both supply and demand-side stakeholders.
Supply Side Stakeholders:
- Senior Management Level: CEOs, Presidents, Vice-Presidents, Directors, Chief Technology Officers, Chief Commercial Officers
- Mid-Management Level: Product Managers, Sales Managers, Brand Managers, R&D Managers, Business Development Managers, Consultants
Demand Side Stakeholders:
- Hospitals & Retail Pharmacies, Government Suppliers and Others
Breakdown of Primary Interviews
Market Size Estimation
Both ‘Top-Down & Bottom-Up Approaches’ were used to derive market size estimates and forecasts
Data Triangulation
Research findings derived through secondary sources & internal analysis was validated with Primary Interviews, Internal Knowledge Repository and Company’s Sales Data
