Vaccine Market (By Type: Subunit, mRNA; By Route Of Administration Oral; By Disease Indication: HPV, MMR; By Age Group: Adult; By Distribution Channel) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2025-2034

Vaccine Market Size, Trends, Share, Report 2025-2034

The global vaccine market size stood at USD 87.78 billion in 2024 and is estimated to reach USD 94.71 billion in 2025. It is projected to surge past USD 187.76 billion by 2034, registering a robust CAGR of 7.9% from 2025 to 2034. The governments and global health organizations run widespread immunization programs, particularly for children and vulnerable populations. This creates predictable, high scientific and technological advancement. 

Key Pointers

• By region, North America dominated the global market with highest market share of 35% in 2024.
• By type, the subunit segment generated the maximum market share of 45% in 2024.
• By route of administration, the parenteral administration segment registered the maximum market share of 97% in 2024. 
• By route of administration, the oral administration segment is predicted to grow at the remarkable CAGR from 2025 to 2034.
• By disease indicationviral diseases, the segment captured the maximum market share of 64% in 2024.
• By disease indicationviral diseases, the bacterial diseases segment is expected to grow at the fastest CAGR over the forecast period.
• By age group, the adults represented segment contributed the largest market share of 56% in 2024. 
• By distribution channel, the government suppliers segment held the largest revenue share of 55% in 2024.

Vaccine Market Overview 

A vaccine is defined as a biological preparation that provides active acquired immunity to a particular infectious disease. There are several types of vaccines, each developed differently to activate the immune system effectively. The market growth is driven by the growing emphasis on ensuring vaccine safety and accessibility. Trends towards technology increasingly focus on improving vaccine development processes and accessibility. The rising prevalence of infectious diseases, heightened public health awareness following events like the COVID-19 pandemic, has led to greater public familiarity with and acceptance of the long-term benefits of immunization.   

Technological Advancements Market Growth

Innovations in biotechnology and vaccine development techniques, such as the use of mRNA, recombinant platforms, and synthetic biology, are producing more effective and targeted vaccines. The use of digital health platforms and artificial intelligence in vaccine design and distribution is enhancing logistical efficiency and demand forecasting. Multivalent vaccines, which protect against multiple pathogens in a single shot, are increasingly preferred by healthcare providers for their efficiency and potential to improve patient compliance. 

Report Scope of the Vaccine Records Market

Vaccine Market Trends

• mRNA Vaccine Technology: Expanding healthcare expenditure and increasing population in developing regions are creating new opportunities for vaccine firms. mRNA technology drastically shortens development timelines compared to traditional vaccines. This speed is crucial for responding to pandemics and is driving market innovation for a wider array of pathogens and new viral variants. Expansion into oncology , next-generation constructs, and enhancing the delivery system is a key focus on improving safety, stability, and effectiveness. 

Market Opportunity

Expanding Disease Indication for the Vaccine Market

The research is expanding beyond preventative vaccines to include therapeutic vaccines for chronic conditions, including cancer, HIV, and chronic viral infections like hepatitis B. Continuous pathogen evolution and the emergence of new diseases, highlighted by the COVID-19 pandemic, create ongoing demand for a rapid-response vaccine platform. 

Market Challenge

Development and Production in the Vaccine Market

The process of a novel vaccine to market is expensive and expensive and lengthy, with estimates ranging from hundreds of millions to over a billion dollars and often taking 10 to 15 years. A significant portion of his investment is at risk, as many vaccine candidates fail during clinical trials. There is more manufacturing complexity, difficulty targeting pathogens, which hinders the market growth. 

Regional Insights

Which Region Dominated the Vaccine Market?

North America dominated the global market with highest market share of 35% in 2024. The region's investment in advanced technology, including substantial investment in cutting-edge vaccine technologies, such as mRNA and viral vector platforms. Supportive government policies, streamlined regulatory pathways, and extensive immunization programs fuel the market growth. The region's robust healthcare infrastructure, high healthcare spending, and advanced supply chain logistics drive the market growth. 

United States Vaccine Market Trends

The development of mRNA, recombinant, and multivalent vaccines has enhanced efficacy, improved manufacturing speed, and made immunization simpler. Rising disease prevalence and immunization awareness, increasing number of adult populations, extensive funding for R&D, robust immunization programs, such as vaccines for children programs, and favorable reimbursement policies continue to accelerate market growth. 

• In June 2024, the FDA approved Merck's 21-valent pneumococcal conjugate vaccine, Capvaxive, which addresses a significant market segment. (Source: MERCK)

Why is the Asia Pacific Significantly Growing in the Vaccine Market?

Asia Pacific expects significant growth in the vaccine market during the forecast period. The region is a geographic source for new infectious diseases, and climate change is creating a higher risk for outbreaks like dengue and malaria. The Asia Pacific region is rapidly transitioning from a net importer to a global hub for vaccine manufacturing. Investment in research and development, innovating new products for infectious diseases. Economic and demographic trends are fueling demand for preventative healthcare and improving access to vaccines. 

Segmental Insights

Type Insights

Why did the Subunit Vaccines Segment Dominate the Vaccine Market?

The vaccine market was dominated by the subunit vaccines segment, which held a 45% market share in 2024. They enhanced the safety profile, suitability for immunocompromised individuals, and stability compared to traditional live-attenuated and inactivated vaccines. Recombinant technology allowed for reliable, targeted mass production, exemplified by successful products like the hepatitis B and HPV vaccines. Despite challenges like weaker immunogenicity often requiring adjuvants and boosters, their proven track record solidified their market position. However, the rise of adaptable mRNA vaccines during the COVID-19 pandemic presents a potential challenge to this dominance, with advantages in development speed.

The mRNA vaccine segment is the fastest-growing in the vaccine market during the forecast period. The drawing on its successful application against COVID-19, mRNA vaccine technology has rapidly gained prominence in the vaccine market. Unlike conventional vaccines, which use inactive or weakened viruses, mRNA vaccines utilize synthetic genetic instructions to train the body's cells to produce proteins that trigger an immune response.

Route of Administration

How the Parenteral Administration Segment hold the Largest Share in the Vaccine Market?

The parenteral administration remains the most preferred method for vaccine delivery, leading the segment to dominate the vaccine market with a 97% share in 2024. The parenteral route established efficacy and bioavailability; direct injection allows for faster adoption and faster action compared to other routes, such as oral vaccines. This rapid response is crucial for preventing infection or mitigating the severity of the disease. Avoidance of gastrointestinal degradation, suitability for a wide range of vaccines. Parenteral administration has been the traditional method for administering vaccines for a long time. 

The oral administration segment is experiencing the fastest growth in the market during the forecast period. The oral route of administration eliminates the need for injections, reducing needle phobia and pain, especially among children and the elderly. Easier administration compared to other routes, better adherence to vaccination schedules. Oral vaccination often has simpler manufacturing procedures and may not require the rigorous cold chain storage and transportation needed for many injectable vaccines, potentially reducing overall cost.  

Disease Indication Insights

How the Viral Disease Segment hold the Largest Share in the Vaccine Market?

The viral diseases segment led the vaccine market with share of 64% in 2024, primarily driven by the widespread administration of COVID-19 vaccines. The high global incidence of diseases such as hepatitis, influenza, and COVID-19 drives significant demand for preventative measures. Secondly, advancements in vaccine technology, including mRNA and recombinant DNA, enable the rapid development of effective vaccines to combat these threats. Thirdly, government initiatives and substantial funding from both governments and global health organizations further bolster research, production, and distribution efforts.

• In May 2024, Novavax and Sanofi signed a co-exclusive licensing deal to co-commercialize a COVID-19 vaccine and collaborate on developing a combination flu-COVID-19 vaccine. (Source: Sanofi)

The bacterial diseases segment is experiencing the fastest growth in the market during the forecast period. The high global burden of bacterial infections and the urgent need to combat antimicrobial resistance. This growth is propelled by continuous technological innovations that produce more effective vaccines and the expansion of vaccination programs to include both pediatric and adult populations. Additionally, strong support from governments and global health organizations significantly fuels market expansion by promoting immunization and funding research. 

• In February 2025, IAVI and Biofabri (February 2025): Launched the IMAGINE clinical trial for a new tuberculosis vaccine, addressing one of the world's most deadly infectious diseases. (Source: iavi)

Age Group Insights

How the Adults Segment hold the Largest Share in the Vaccine Market?

The adults represented 56% of the total share in the vaccine market in 2024. There is an increasing prevalence of infectious diseases among adults and the elderly, such as influenza, pneumococcal infections, shingles, and hepatitis. Developed regions, in particular, have aging populations. Older adults with chronic health conditions are especially vulnerable to infections, driving the need for preventative vaccinations. Employers and governments are actively promoting adult vaccination through public health initiatives and workplace wellness programs, further boosting demand.

The pediatric segment is experiencing the fastest growth in the market during the forecast period. The rising awareness of vaccine benefits, increasing prevalence of infectious diseases in children, and technological innovation in vaccine development, such as conjugated vaccines and recombinant vaccines, offer improved safety, efficacy, and ease of administration, making them more attractive for childhood immunizations. Increasing focus on pediatric research and development, robust government and public health initiatives, fuel the market growth.

• In July 2025, Ho Chi Minh City, Vietnam, this event will provide a platform to discuss pediatric healthcare, including potential topics related to childhood immunizations. (Source: World Health Organization) 

Distribution Channel Insights

How the Government Suppliers Segment hold the Largest Share in the Vaccine Market?

The government suppliers led the vaccine market, capturing a 55% share in 2024. The government leads numerous vaccination initiatives and immunization programs. Governments prioritize making vaccines affordable and accessible to all citizens, including vulnerable populations. Increasing response to public health emergencies, supporting domestic vaccine manufacturing, bulk procurement, and distribution, will fuel the market growth. 

The hospital and retail pharmacy segment is experiencing the fastest growth in the market during the forecast period. They are leveraging their accessibility and convenience, which has been crucial in meeting a surge in demand following the pandemic. They have capitalized on their extensive geographical reach and flexible hours, offering a trusted, familiar setting where trained pharmacists can provide immunizations. Furthermore, operational efficiencies and new technologies have enhanced distribution and delivery, allowing these settings to scale up vaccination services and better serve communities.

The Vaccine Market-Value Chain Analysis

• R&D: The vaccine market focuses on the scientific process of creating, testing, and manufacturing vaccines to prevent and treat infectious diseases.
• Patient Support and Services: The vaccine market involves patient assistance and financial support, education and awareness, and digital and logistical services.
• Distribution to Hospitals, Pharmacies: The government suppliers, patient preference and access, hospital, and retail pharmacies. 

Recent Developments

• In August 2025, Pfizer and BioNTech received U.S. FDA approval for an updated COMIRNATY® COVID-19 vaccine. (Source: pfizer)
• In July 2025, the Indian Council of Medical Research (ICMR) expanded its collaboration with the Coalition for Epidemic Preparednes s Innovations (CEPI) to enhance vaccine research and development for emerging infectious diseases. (Source: icmr)

Top Companies in Vaccine Market

• Pfizer Inc.
• Moderna, Inc.
• Johnson & Johnson 
• GlaxoSmithKline plc (GSK)
• Sanofi S.A.
• AstraZeneca plc
• Merck & Co., Inc. (known as MSD outside the U.S. and Canada)
• Serum Institute of India Pvt. Ltd.
• Bharat Biotech International Ltd.
• CSL Limited (including Seqirus)
• Novavax, Inc.
• Sinovac Biotech Ltd.
• Sinopharm Group Co., Ltd.
• Zydus Lifesciences Ltd.
• Emergent BioSolutions Inc.

Market Segmentation

By Type 

• Subunit Vaccines
• Recombinant vaccines
• Conjugate Vaccines
• Toxoid vaccines
• Inactivated
• Live Attenuated
• mRNA vaccines
• Viral vector vaccines

By Route of Administration 

• Oral
• Parenteral
• Nasal

By Disease Indication 

• Viral Diseases
  • Hepatitis
  • Influenza
  • HPV
  • MMR
  • Rotavirus
  • Herpes Zoster
  • Covid-19
  • Others
• Bacterial Vaccines
  • Meningococcal Diseases
  • Pneumococcal diseases
  • DPT
  • Others
• Cancer Vaccines
• Allergy Vaccines

By Age Group 

• Pediatric
• Adult

By Distribution Channel 

• Hospital & Retail Pharmacies
• Government Suppliers
• Others

By Regional 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • China
  • Japan
  • India
• South Korea
  • Australia
  • Thailand
• Latin America
  • Brazil
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait