Vaccines Market Estimated to be Worth $71.50 Billion in 2031

Vaccines Market Size, Share, Forecast, & Trends Analysis by Indication (Pneumococcal, Influenza, HPV, DTP, MMR, Hepatitis, COVID-19) Administration (IM, SC, Oral) Type (Inactivated, Combination) Valence (Multivalent, Monovalent) - Global Forecast to 2031

Meticulous Research^®– a leading global market research company, published a research report titled ‘Vaccines Market Size, Share, Forecast, & Trends Analysis by Indication (Pneumococcal, Influenza, HPV, DTP, MMR, Hepatitis, COVID-19) Administration (IM, SC, Oral) Type (Inactivated, Combination) Valence (Multivalent, Monovalent) - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the vaccines market is projected to reach $71.50 billion by 2031, at a CAGR of 2.3% during the forecast period. This market's growth is driven by a strong pipeline for vaccines, increasing government initiatives toward immunization, and technological advancements in the vaccine industry. Moreover, the rising prevalence of diseases, growing focus on therapeutic vaccines, and growth prospects in emerging markets are expected to offer growth opportunities for the players operating in this market.

However, the high costs involved in vaccine development and the long timelines of vaccine manufacturing restrain the market’s growth. Additionally, product recalls and inadequate access to vaccines pose challenges to the market’s growth.

Key Players

The key players operating in the vaccines market are Sanofi (France), Merck & Co., Inc. (U.S.), GlaxoSmithKline plc (U.K.), Pfizer Inc. (U.S.), Johnson & Johnson (U.S.), Daiichi Sankyo Co., Ltd. (Japan), Takeda Pharmaceutical Company Limited (Japan), CSL Limited (Australia), Emergent BioSolutions Inc. (U.S.), and AstraZeneca PLC (U.K.).

Vaccines Market: Future Outlook

The vaccines market is segmented based on Indication (Pneumococcal Disease, Influenza, Human Papillomavirus (HPV), Diphtheria, Tetanus, and Pertussis (DTP), Meningococcal Disease, Measles, Mumps, and Rubella (MMR), Rotavirus, Poliomyelitis (Polio), Hepatitis, COVID-19, Other Indications), Route of Administration (Intramuscular, Subcutaneous, Oral, Other Route of Administration), Type (Subunit & Conjugate Vaccines, Inactivated Vaccines, Live-Attenuated Vaccines, Toxoid Vaccines, Combination Vaccines), and Valence (Multivalent and Monovalent Vaccines) and Geography. The study also evaluates industry competitors and analyzes their market share at global and regional levels.

Based on indication, the vaccines market is segmented into pneumococcal disease, influenza, human papillomavirus (HPV), diphtheria, tetanus, pertussis (DTP), meningococcal disease, measles, mumps, rubella (MMR), rotavirus, poliomyelitis (polio), hepatitis, COVID-19, and other indications. In 2024, the pneumococcal disease segment is expected to account for the largest share of the vaccines market. The large market share of this segment can be attributed to the rising incidence of pneumococcal diseases such as pneumonia, meningitis, febrile bacteremia, otitis media, and sinusitis; and the development of quality vaccines such as PPSV23.

Based on route of administration, the vaccines market is segmented into intramuscular (IM), subcutaneous (SC), oral, and other routes of administration. In 2024, the intramuscular (IM) segment is expected to account for the largest share of the vaccines market. The large market share of this segment can be attributed to the ease of intramuscular administration and quick absorption of vaccines administered through the intramuscular route. Further, due to the COVID-19 pandemic, there has been increased adoption of the intramuscular route of administration, as many COVID-19 vaccines are being administered through this route.

Based on type, the vaccines market is segmented into subunit & conjugate vaccines, inactivated vaccines, live-attenuated vaccines, toxoid vaccines, and combination vaccines. In 2024, the subunit & conjugate vaccines segment is expected to account for the largest share of the vaccines market. The large market share of this segment can be attributed to the subunit & conjugate vaccines’ long-term immunity, high safety, and stability compared to vaccines with other antigens.

Based on valence, the vaccines market is segmented into multivalent vaccines and monovalent vaccines. In 2024, the multivalent vaccines segment is expected to account for the larger share of the vaccines market. The large market share of this segment can be attributed to the launch of newer multivalent vaccines, increasing investments by key players in the R&D of multivalent vaccines, and technological advancements in the production of multivalent vaccines.

Geographic Review

This research report analyzes major geographies and provides comprehensive analysis for North America (U.S and Canada), Europe (Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America) and Middle East & Africa. In 2024, North America is estimated to account for the largest share of 41.2% of the vaccines market, followed by Europe and Asia-Pacific. North America’s major market share is attributed to the growing research & development, product launches, and the establishment of new facilities in the region by key players.

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Key Questions Answered in the Report:

Which high-growth market segments are in terms of indication, route of administration, type, valence, and regions/countries?
What was the historical market for vaccines across the globe?
What are the market forecasts and estimates for the period 2024-2031?
What are the major drivers, restraints, challenges, and opportunities in the vaccines market?
What is the competitive landscape like, and who are the market leaders in the vaccines market?
What are the recent developments in the vaccines market?
What strategies are adopted by the major players in the vaccines market?
What are the geographical trends and high-growth regions/countries?

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