Global Vaccine Market Size to Exceed USD 197.20 Billion by 2035| CAGR of 7.75%
Category: HealthcareAccording to a research report published by Spherical Insights & Consulting, The Global Vaccine Market Size is Expected To Grow from USD 86.80 Billion in 2024 to USD 197.20 Billion by 2035, at a CAGR of 7.75% during the Forecast Period 2025-2035.
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Browse key industry insights spread across 240 pages with 120 Market data tables and figures & charts from the report on the "Global Vaccine Market Size, Share, and COVID-19 Impact Analysis, By Type (Subunit vaccines, Inactivated, Live Attenuated, mRNA Vaccines, and Viral Vector Vaccines), By Route of Administration (Oral, Parenteral, and Nasal), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/vaccine-market
The global industry that conducts research, develops, produces, distributes, and sells vaccinations to prevent infectious diseases in both humans and animals is referred to as the vaccine market. It encompasses both public and private sector organizations, including government agencies, biotechnology businesses, pharmaceutical companies, and healthcare providers. By lowering the burden of disease, averting epidemics, and enhancing general public health, this market contributes significantly to global health security. The growing incidence of infectious illnesses, the expansion of international immunization programs, and robust government support through financing and public health regulations are some of the key factors driving the vaccine market. Development and delivery of vaccines have been accelerated by technological developments like mRNA platforms and better cold chain logistics. Demand has also increased dramatically due to aging populations, a growing knowledge of preventive healthcare, and recurrent outbreaks or pandemics (like COVID-19). However, high production costs, complex regulatory approvals, and vaccine hesitancy significantly hinder the rapid growth and accessibility of the vaccine market.
The subunit vaccines segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.
Based on the type, the vaccine market is divided into subunit vaccines, inactivated, live attenuated, mRNA vaccines, and viral vector vaccines. Among these, the subunit vaccines segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. Increased public health initiatives and technological developments further drove demand. Furthermore, the subunit vaccine segment's sustained growth and leadership were facilitated by the rising incidence of infectious diseases and the expansion of immunization programs around the world.
The parenteral segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the route of administration, the vaccine market is divided into oral, parenteral, and nasal. Among these, the parenteral segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. The established infrastructure and dependability of this route make it a preferred option for healthcare providers. Parenteral administration's dominant position in the vaccine market was further strengthened by robust government support, cold chain infrastructure, and public injection familiarity.
The government suppliers segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the distribution channel, the vaccine market is divided into hospital & retail pharmacies, government suppliers, and others. Among these, the government suppliers segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. Government organizations were able to obtain vaccines at scale, especially for emergency campaigns and routine pediatric vaccinations, due to funding support, coordinated distribution networks, and bulk purchasing power.
North America is expected to hold the majority share of the global vaccine market during the forecast period.
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North America is expected to hold the majority share of the global vaccine market during the forecast period. North America's high healthcare spending, sophisticated healthcare infrastructure, and significant presence of top pharmaceutical corporations are the main causes. Strong R&D efforts, early adoption of cutting-edge technology like mRNA vaccines, and government assistance through immunization programs all benefit this region. The region's market supremacy is also a result of robust regulatory frameworks, wide distribution networks, and a high degree of public awareness.
Asia Pacific is anticipated to grow at the fastest pace in the global vaccine market during the forecast period. The growing population, increased government vaccination programs, and increased understanding of preventative healthcare are the main drivers of the Asia Pacific. Furthermore, the region is positioned for substantial market growth due to an increase in vaccine production capacity, assistance from global health organizations, and rising investments in the biotechnology and pharmaceutical sectors.
Major vendors in the global vaccine market are Sanofi, GSK Plc, Pfizer, Inc., AstraZeneca, Daiichi Sankyo, Panacea Biotec, Bharat Biotech, Bavarian Nordic, Merck & Co., Inc., Biological E Limited, Inovio Pharmaceuticals, Emergent BioSolutions, Johnson & Johnson Services, Inc., Serum Institute of India Pvt. Ltd., and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In May 2024, to improve their market positions and meet the expanding demands of public health, Novavax and Sanofi announced a co-exclusive licensing deal to co-commercialize a COVID-19 vaccine and create innovative combination vaccines for COVID-19 and influenza.
- In September 2023, the European Commission (EC) approved an additional indication for ERVEBO for Merck & Co., Inc. (US). The purpose of this vaccine is to actively immunize people one year of age and up against the Zaire ebolavirus, which causes Ebola Virus Disease (EVD).
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the vaccine market based on the below-mentioned segments:
Global Vaccine Market, By Type
- Subunit vaccines
- Inactivated
- Live Attenuated
- mRNA Vaccines
- Viral Vector Vaccines
Global Vaccine Market, By Route of Administration
- Oral
- Parenteral
- Nasal
Global Vaccine Market, By Distribution Channel
- Hospital & Retail Pharmacies
- Government Suppliers
- Others
Global Vaccine Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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