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Report Overview
The India vaccine market was valued at INR 118.76 Billion in 2024, driven by the high burden of infectious diseases, rising strategic collaborations, and increased focus on local vaccine production capabilities in the country. The market is expected to grow at a CAGR of 8.80% during the forecast period of 2025-2034, with the values likely to reach INR 276.03 Billion by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
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In India, the rising burden of infectious diseases and the growing awareness about vaccination and its benefits are anticipated to drive market demand in the forecast period.
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Increased government immunization programs and the rising strategic collaborations between the government and private sector are major trends propelling the market growth.
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The market share is influenced by the advancements in vaccine technology, such as the introduction of mRNA vaccines and conjugate vaccines, and the rising focus on local vaccine production capabilities.
India Vaccine Market Growth Drivers
Increased Focus on Domestic Production of Vaccines to Affect the Indian Market Landscape Significantly
Integrating the latest technologies into vaccine development, India has successfully developed four indigenous COVID-19 vaccines, namely, ZyCoV-D- the world’s first DNA Vaccine, India’s first protein subunit vaccine- CORBEVAXTM along with iNCOVACC, the first intranasal COVID-19 vaccine. In June 2023, GEMCOVAC™-19, the world’s first mRNA vaccine was revealed as a part of the Mission COVID Suraksha program. Such initiatives that focus on advancing local vaccine production capabilities indicate that the growth of the India vaccine market is certain in the upcoming years.
Shifting focus from COVID-19, the region is also making strides in other areas of development as well. Under the partnership of Serum Institute of India and Panacea Biotec, the country is headed to develop its first dengue vaccine. The two companies have applied for an Expression of Interest for collaborative Phase III clinical trials, moving closer to getting the vaccination ready to hit the markets.
Rising Government Immunization Programs is Fuelling India Vaccine Market Demand
The introduction of the Universal Immunization Program (UIP) aimed at raising immunization coverage against treatable diseases in the nation has substantially increased the market growth. Within the span of 5 years, the country has vaccinated approximately 348 million children under the measles-rubella vaccination campaign occurring nationwide. With such potential, the region is set to add to the global vaccine market share as well. Thus, the rising immunization programs by the government are expected to facilitate high vaccination coverage across the country, which will also support market expansion.
India Vaccine Market Report Snapshots
India Vaccine Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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