Vaccines Market Size

Vaccines Market size was over USD 82.96 billion in 2024 and is anticipated to reach USD 171.11 billion by the end of 2037, growing at around 5.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of vaccines is assessed at USD 86.81 billion.

The growth of the market can primarily be accounted to the robust prevalence of COVID-19 across the globe. World Health Organization (WHO) stated that at 5:39 pm CEST, September 23, 2022, 611,421,786 new cases of COVID-19 were confirmed.

Global vaccines market trends such as, the rising penetration of diseases that requires vaccination is projected to influence the growth of the market positively over the forecast period. For instance, UNICEF released a list showing the list of diseases cured by vaccines and some of the diseases are diphtheria, tetanus, Hemophilic, rotavirus, measles & mumps, and others. A noteworthy growth in the cases of mump disease has been observed in the recent decade. As of 2020, around 140 cases of mumps from 30 health departments were reported in the USA. Additionally, up surged government initiatives and investments to develop vaccines and exponential growth in the health care expenditure worldwide are further projected to hike the growth of the market over the forecast period.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of vaccines is assessed at USD 86.81 billion.

The vaccines market size was over USD 82.96 billion in 2024 and is anticipated to reach USD 171.11 billion by the end of 2037, growing at around 5.9% CAGR during the forecast period i.e., between 2025-2037. Growing demand for vaccines to cure hepatitis b and increasing cases of tuberculosis across the globe will boost the market growth.

Asia Pacific industry is likely to hold largest revenue share by 2037, owing to increment in birth rate, rising geriatric population and growing penetration of major key players in the region.

The major players in the market include Pfizer Inc., Sanofi Aventis, Merck & Co., Inc., Mitsubishi Tanabe Pharma Corporation, Bavarian Nordic A/S, Novartis AG, Inovio Pharmaceuticals, Inc., CSL Limited, and others. .

Vaccines Market Size