Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Vaccine Market Regional Analysis

North America holds the largest share of the vaccine market attributed to the increasing prevalence of infectious diseases and robust support in terms of funding from both government and non-government organizations. Additionally, the increased investments to meet the demand for innovative and effective vaccines are accelerating the growth of the vaccine market in the region.

 

Europe also holds significant vaccine market share owing to its advanced healthcare infrastructure. In January 2023, BioNTech entered a partnership with the United Kingdom government to facilitate the development of infectious disease vaccines, among other things. Such events of partnerships and collaboration are predicted to aid market growth. With BioNTech gaining access to the United Kingdom health data and clinical trial network, the collaboration has the potential to develop innovative vaccines and offer improved patient outcomes.

 

Vaccine Market Report Snapshots

Vaccine Market Size

Vaccine Market Regional Analysis

Vaccine Companies

 

*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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Key Questions Answered in the Report

The market attained a value of about USD 68.07 billion in 2023, driven by the rising prevalence of infectious diseases across the globe.

The market is anticipated to grow at a CAGR of 10.5% during the forecast period of 2024-2032, likely to reach a market value of USD 167.19 billion by 2032.

The market demand is driven by substantial improvements in the healthcare infrastructure and increased awareness about the effectiveness of vaccines in preventing diseases.

The emphasis on treating chronic diseases with the help of vaccinations is a key market trend. In April 2023, a Norwegian biotechnology company, Nykode Therapeutics announced that its cervical cancer vaccine, VB10.16, showed increased survival in advanced cervical cancer patients in a Phase IIa clinical trial.

The market is divided into pneumococcal, influenza, DTP, HPV, MMR, and COVID-19. 

The various end users of vaccines include adults and children.

Recombinant, toxoid, conjugate, and RNA among others, are the vaccine technologies available in the market.

The various distribution channels include hospital and clinical pharmacies, retail pharmacies, and online pharmacies, among others.

The major regions of the market include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

Key players involved in the market are Merck & Co. Inc., GlaxoSmithKline Plc, Sanofi Aventis, Novartis AG, Pfizer Inc., Takeda Pharmaceutical Company Limited, DAIICHI SANKYO COMPANY, LIMITED, Mitsubishi Chemical Group Corporation, AstraZeneca, MASSACHUSETTS BIOTECHNOLOGY COUNCIL, Biokangtai, Serum Institute of India Pvt. Ltd., VBI Vaccines Inc., Fei Biological and Indian Immunologicals Ltd. 

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