Global Vaccine Technologies Market Overview
The Vaccine Technologies Market Size was valued at USD 40.9 Billion in 2022 and is projected to grow from USD 45.3 Billion in 2023 to USD 102.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.80% during the forecast period (2023 - 2032).
Increasing prevalence of infectious diseases, technological advancements, government initiatives and funding, growing awareness and acceptance, expansion of the biopharmaceutical industry, rising healthcare expenditure, global health threats and pandemics, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Vaccine Technologies Market Trends
- Government initiatives and funding is driving the market growth
By providing financial support, regulatory facilitation, procurement assistance, public awareness campaigns, and fostering international partnerships, government initiatives and financing play a crucial role in pushing the market for vaccine technology. These initiatives support the creation, distribution, and adoption of vaccines, which in turn supports the market's expansion.
Through funding for research and development (R&D), government initiatives are driving the market for vaccination technologies. Governments devote a significant amount of money and resources to vaccine R&D. The ability to perform extensive research, preclinical and clinical trials, and tests to create new vaccines or enhance current ones is made possible by the financial support provided to scientists, researchers, and pharmaceutical corporations. The exploration of cutting-edge vaccination technologies, including mRNA vaccines, viral vectors, or nanoparticle-based formulations, which have recently showed considerable promise, is greatly aided by government financing. The creation of vaccines is accelerated by these developments in vaccine technology, which also enhance their efficacy and safety while spurring market expansion.
Production and manufacturing of vaccines are supported by the government. To provide sufficient production capacities to meet the demand for vaccinations, governments offer financial help for the establishment or modernization of vaccine manufacturing facilities.
This money can be used to improve production procedures, invest in cutting-edge manufacturing equipment, and develop infrastructure. Governments may streamline production, lower prices, and guarantee a steady supply of vaccines on the market by encouraging vaccine manufacturing. This promotes market expansion and aids in supplying the rising demand for vaccines. Another essential component of government activities promoting the market for vaccine technologies is regulatory facilitation.
In order to monitor the security, effectiveness, and caliber of vaccinations, governments set up regulatory frameworks and organizations. They support the licensing and approval procedures and offer guidelines. Initiatives by the government are intended to simplify regulatory procedures while lowering administrative hurdles and guaranteeing vaccine approvals in a timely manner.
The time to market for vaccines is sped up because to this assistance, which helps vaccine manufacturers more effectively handle difficult regulatory regulations. Government backing fosters trust among healthcare professionals and the general public by ensuring that vaccinations adhere to strict safety and quality requirements, which increases demand for vaccines and fosters market expansion. Thus, driving the Vaccine Technologies Market revenue.
Vaccine Technologies Market Segment Insights
Vaccine Technologies Type Insights
The Market segments of Vaccine Technologies, based on type includes recombinant/conjugate/subunit, inactivated, live attenuated, and toxoid. The inactivated segment dominated the market in 2022. Inactivated vaccinations are based on well-proven technology and have been in use for many years. They are created by eliminating or inactivating the disease-causing pathogen. The effective production of vaccines using this technology has a long history, and it has been widely applied to the development of vaccinations for illnesses like rabies, hepatitis A, polio, influenza, and polio. Inactivated vaccines are widely used and have a proven track record, which has aided in their market domination.
Vaccine Technologies Route of Administration Insights
The Vaccine Technologies Market segmentation, based on route of administration, includes parenteral and oral. The oral category generated the most income in 2022. It is simple to administer oral immunizations without the use of injections or experienced medical personnel. This method of administration is more practical and well-accepted by patients, especially kids and people with needle phobia, as it is non-invasive and generally well-tolerated.
Figure 1: Vaccine Technologies Market, by Route of Administration, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Vaccine Technologies Disease Indication Insights
The Market segmentation of Vaccine Technologies, based on disease indication includes viral diseases and bacterial diseases. The viral diseases segment dominated the market in 2022. Worldwide, viral illnesses have a considerable negative impact on people's health. Viral pathogens are the primary cause of many common diseases, including COVID-19, measles, mumps, rubella, hepatitis, and the flu. The need for vaccinations that target viral infections is driven by the need for efficient preventative and control measures, making this market sector for vaccine technologies prominent.
Vaccine Technologies Age Group Insights
The Vaccine Technologies Market segmentation, based on age group includes pediatric and adults. The pediatric segment dominated the market in 2022. A key element of the international government-run childhood immunization programs is vaccination. These initiatives seek to shield young children and newborns from a number of diseases that can be prevented through vaccination, including, but not limited to, hepatitis, diphtheria, pertussis, tetanus, polio, and measles. The emphasis on immunizing children fuels the need for pediatric vaccinations, which accounts for this market segment's dominance.
Vaccine Technologies Distribution Channel Insights
The Market segmentation of Vaccine Technologies, based on distribution channel includes hospital & retail pharmacies, government suppliers and others. The hospital & retail pharmacies segment dominated the market in 2022. The majority of hospitals and retail pharmacies have a substantial network of sites, making it simple for the general public to reach them.
Vaccine Technologies Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Vaccine Technologies Market dominated this market in 2022 (45.80%). due to expenditures made by the major players in a number of R&D projects as well as the introduction of new products in the United States. Additionally, it is projected that intensive research conducted by pharmaceutical and biotechnology firms would further encourage the expansion of the vaccines market in North America.
Further, the U.S. Vaccine Technologies Market held the largest market share, and the Canada market of Vaccine Technologies was the fastest growing market in the North America region. Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: VACCINE TECHNOLOGIES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Vaccine Technologies Market accounts for the second-largest market share. Preventive medicine and public health are highly valued in European nations. Governments in Europe have traditionally placed a strong priority on immunization campaigns, which has led to high vaccination rates in their respective populations. The region's demand for vaccine technologies is driven by this dedication to immunization. Further, the German market of Vaccine Technologies held the largest share, and the UK market of Vaccine Technologies was the fastest growing market in the European region
The Asia-Pacific Vaccine Technologies Market is expected to grow at the fastest CAGR from 2023 to 2032 due to the increasing prevalence of diseases, rising costs, and expanding access to healthcare in developing nations like China and India. Moreover, China’s market of Vaccine Technologies held the largest market share, and the Indian market of Vaccine Technologies was the fastest growing market in the Asia-Pacific region.
Vaccine Technologies Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Vaccine Technologies Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Vaccine technologies industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Vaccine technologies industry to benefit clients and increase the market sector. In recent years, the Vaccine technologies industry has offered some of the most significant advantages to medicine.
Major players in the Vaccine Technologies Market, including GlaxoSmithKline plc. (Brentford, U.K.), Sanofi (Paris, France), Pfizer Inc. (New York, U.S.), Merck & Co., Inc. (New Jersey, U.S.), Novartis AG (Basel, Switzerland), Emergent BioSolutions, Inc. (Maryland, U.S.), CSL Limited (Melbourne, Australia), Inovio Pharmaceuticals, Inc. (Pennsylvania, U.S.), Bavarian Nordic (Denmark), Mitsubishi Tanabe Pharma Corporation (Osaka, Japan) and others, are attempting to increase market demand by investing in research and development operations.
GSK plc (GSK) is a healthcare organization with a focus on the development, production, and marketing of generic medications, speciality medications, and vaccines. It provides medications to treat conditions like HIV, respiratory, cancer, immuno-inflammation, antiviral, central nervous system (CNS), and metabolic, cardiovascular, and urogenital, antibacterial, dermatological, and uncommon disorders.
The business also sells over-the-counter (OTC) items for gastrointestinal disorders, nutrition, skin health, and pain treatment. Hepatitis, diphtheria, tetanus, whooping cough, rotavirus and HPV infections, measles, and bacterial meningitis are just a few of the diseases that are covered by GSK's vaccine portfolio. The business offers its goods through wholesalers, pharmacies, hospitals, doctors' offices, and other organizations all around the world. Middlesex's Brentford serves as the home base for GSK in the UK.
Biopharmaceuticals are discovered, developed, produced, and sold by Pfizer Inc. The business sells goods to cure a range of ailments, including cancer, inflammation, rare diseases, metabolic, cardiovascular, and metabolic and pain disorders, as well as women's health issues. Additionally, it offers contract manufacturing services, sterile injectable drugs, biosimilars, active pharmaceutical ingredients (APIs), and medicines.
Pfizer offers its goods through distributors, merchants, pharmacies, hospitals, private physician offices, clinics, and public institutions. India, China, Japan, Ireland, Italy, Belgium, Germany, Singapore, and the US are all home to significant manufacturing facilities for it. The company ships its goods to Europe, Africa, the Middle East, Asia-Pacific, Australia, and North and South America. In the US, New York serves as the home of Pfizer.
Key Companies in the Vaccine Technologies Market include
- GlaxoSmithKline plc. (Brentford, U.K.)
- Sanofi (Paris, France)
- Pfizer Inc. (New York, U.S.)
- Merck & Co., Inc. (New Jersey, U.S.)
- Novartis AG (Basel, Switzerland)
- Emergent BioSolutions, Inc. (Maryland, U.S.)
- CSL Limited (Melbourne, Australia)
- Inovio Pharmaceuticals, Inc. (Pennsylvania, U.S.)
- Bavarian Nordic (Denmark)
- Mitsubishi Tanabe Pharma Corporation (Osaka, Japan)
Vaccine Technologies Industry Developments
In 2021: Gardasil 9, India's first gender-neutral HPV vaccine, was released by MSD Pharmaceuticals, a fully owned subsidiary of Merck Sharp & Dohme.
In 2021: In India, Abbott introduced a new inactivated quadrivalent influenza vaccination that provides defense against four viral types.
Vaccine Technologies Market Segmentation
Vaccine Technologies Type Outlook
- Recombinant/Conjugate/Subunit
- Inactivated
- Live Attenuated
- Toxoid
Vaccine Technologies Route of Administration Outlook
Vaccine Technologies Disease Indication Outlook
- Viral Diseases
- Bacterial Diseases
Vaccine Technologies Age Group Outlook
Vaccine Technologies Distribution Channel Outlook
- Hospital & Retail Pharmacies
- Government Suppliers
- Others
Vaccine Technologies Regional Outlook
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 40.9 Billion |
| Market Size 2023 |
USD 45.3 Billion |
| Market Size 2032 |
USD 102.9 Billion |
| Compound Annual Growth Rate (CAGR) |
10.80% (2023-2032) |
| Base Year |
2022 |
| Market Forecast Period |
2023-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Type, Route of Administration, Disease Indication, Age Group, Distribution Channel, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
GlaxoSmithKline plc. (Brentford, U.K.), Sanofi (Paris, France), Pfizer Inc. (New York, U.S.), Merck & Co., Inc. (New Jersey, U.S.), Novartis AG (Basel, Switzerland), Emergent BioSolutions, Inc. (Maryland, U.S.), CSL Limited (Melbourne, Australia), Inovio Pharmaceuticals, Inc. (Pennsylvania, U.S.), Bavarian Nordic (Denmark), Mitsubishi Tanabe Pharma Corporation (Osaka, Japan) |
| Key Market Opportunities |
The effectiveness of the inactivated influenza vaccine is opening up new market potential. |
| Key Market Dynamics |
In the market for influenza vaccinations, the development of combination vaccines and mRNA vaccines is gaining ground. |
Vaccine Technologies Market Highlights:
Frequently Asked Questions (FAQ) :
The Vaccine Technologies Market size was valued at USD 40.9 Billion in 2022.
The global market is projected to grow at a CAGR of 10.80% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are GlaxoSmithKline plc. (Brentford, U.K.), Sanofi (Paris, France), Pfizer Inc. (New York, U.S.), Merck & Co., Inc. (New Jersey, U.S.), Novartis AG (Basel, Switzerland), Emergent BioSolutions, Inc. (Maryland, U.S.), CSL Limited (Melbourne, Australia), Inovio Pharmaceuticals, Inc. (Pennsylvania, U.S.), Bavarian Nordic (Denmark), Mitsubishi Tanabe Pharma Corporation (Osaka, Japan).
The Inactivated category dominated the market in 2022.
The Hospital & Retail Pharmacies had the largest share in the global market.
