South Korea Vaccine Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Multivalent Vaccine and Monovalent Vaccine), By Treatment Type (Preventive Vaccine and Therapeutic Vaccine), and South Korea Vaccine Market Insights, Industry Trend, Forecasts to 2035

South Korea Vaccine Market Insights Forecasts to 2035

• The South Korea Vaccine Market Size was Estimated at USD 1,079.9 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 5.15% from 2025 to 2035
• The South Korea Vaccine Market Size is Expected to Reach USD 1,876.6 Million by 2035

According to a Research Report Published by Spherical Insights & Consulting, the South Korea Vaccine Market Size is Anticipated to Reach USD 1,876.6 Million by 2035, Growing at a CAGR of 5.15% from 2025 to 2035. The market is driven by a number of important factors, including the government's continued commitment to immunization programs, increased investment in research and development (R&D), growing public health awareness of the importance of vaccines, shifting demographics, and the government's growing support for vaccine exports.

Market Overview

The South Korea vaccine market encompasses the creation, manufacturing, distribution, and administration of vaccines intended to prevent infectious diseases in the nation are all included in the South Korean vaccine market. This market targets both pediatric and adult populations and comprises a variety of vaccine types, including subunit, inactivated, live attenuated, mRNA, and recombinant vaccines. The market is defined by a blend of international cooperation, government assistance, and domestic innovation. Additionally, the one of the main factors driving the market's expansion is the growing government commitment to immunization programs. The market is also expanding as a result of biopharmaceutical companies' growing investment in research and development (R&D), which is driving the creation of new vaccines. In addition to this, the market is expanding due to growing public health awareness of the value of vaccinations, which has led to higher uptake. Additionally, the market is expanding due to South Korea's sophisticated biotechnology industry, which offers a strong basis for vaccine development. The market is also expanding such of the nation's strategic alliances with international vaccine producers, which strengthen the domestic vaccine supply chain.

Report Coverage

This research report categorizes the market for the South Korea vaccine market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea vaccine market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea vaccine market.

Driving Factors

The factor contributing to growth is the growing government support for vaccine exports, which has improved South Korea's standing internationally. Mass vaccination campaigns against the seasonal flu and other infectious diseases are also helping to drive the market's expansion. Accordingly, new developments in vaccine technology, like viral vector vaccines, are bolstering market expansion. Furthermore, the expanding travel and tourism industry is driving market expansion by necessitating travel-related vaccinations. Moreover, the market expansion is being positively impacted by South Korea's hosting of international events that highlight the importance of vaccines as a public health measure. In addition, the nation's market is expanding thanks to the growing partnerships between academia and business that support the quick development of vaccine candidates.

Restraining Factors

Vaccine costs continue to be a major obstacle, particularly for imported or more recent vaccines. Access may be restricted by the high costs, especially for those with low incomes. Even with some government subsidies, people may still face significant financial hardship.

Market Segmentation

The South Korea vaccine market share is classified into product type and treatment type.

• The multivalent vaccines segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea vaccine market is segmented by product type into multivalent vaccine and monovalent vaccine. Among these, the multivalent vaccines segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. These vaccines are favored because they can offer protection against several illnesses or strains in a single dose, which increases their effectiveness and lowers their cost for extensive vaccination campaigns.

• The preventive vaccines segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea vaccine market is segmented by treatment type into preventive vaccine and therapeutic vaccine. Among these, the preventive vaccines segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Targeting illnesses like COVID-19, hepatitis, and influenza, these vaccines are widely used in national immunization programs, which has led to their dominance. Demand for preventive vaccines is driven by public health awareness and government initiatives, guaranteeing widespread population coverage.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea vaccine market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• GC Biopharma (Green Cross Corporation)
• SK Bioscience
• EuBiologics Co., Ltd.
• Cellid Co., Ltd.
• Genexine, Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea Vaccine Market based on the below-mentioned segments:

South Korea Vaccine Market, By Product Type

• Multivalent Vaccine
• Monovalent Vaccine

South Korea Vaccine Market, By Treatment Type

• Preventive Vaccine
• Therapeutic Vaccine