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Vaccines Market Foreseen to Reach Revenue Worth US$82 Bn by 2029 End

Fairfield Consultancy Services OPC Pvt Ltd
Fairfield Consultancy Services OPC Pvt Ltd

Global Vaccines Market Anticipated to Demonstrate nearly 11.2% CAGR (excluding COVID-19 vaccines) During the Period of 2022-2029.

London, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Global vaccines market proliferates on account of growing emphasis on vaccination programs worldwide and increasing overall effort toward public education and awareness about vaccination. Both governments, and vaccine manufacturers have been investing a fortune in vaccines space, in turn driving the growth of global vaccines market. A new Fairfield Market Research study projects an interesting growth pattern for vaccines market during 2022 – 2029. Innovative vaccine developments, and surging popularity of combination vaccines collective uphold market expansion, says the report.

The market represented the valuation of around US$90 Bn in 2021 and will reach nearly US$82 Bn by the end of 2029. The report estimates approximately 11.2% growth for global vaccines market (excluding COVID-19 vaccines) through 2029 end. However, the report forecasts shrinking market performance for COVID-19 vaccines post-2021 as the pandemic subsides. On the other hand, other vaccine categories will continue to exhibit strong performance according to the report. It expects the vaccines market size (including COVID-19 vaccines) to witness 3.9% growth between 2023 and 2029.

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Key Research Insights

  • Shingles vaccine category is poised to demonstrate 15.6% growth through 2029 end, whereas seasonal flu vaccines all set for the fastest growth rate

  • Nearly 152 countries have partially or fully introduced immunization program of Pneumococcal Conjugate Vaccine (PCV) as a part of infant routine immunization (2019), and 42 more are likely to soon implement the same

  • AMRO contributes around 50% share to global vaccines market revenue

Insights into Segmental Analysis

As pneumococcal diseases remain one of the key causes of mortality worldwide, the Pneumococcal Conjugate Vaccine (PCV) continues to be desirable among the vaccines for children. While WHO’s data indicates the inclusion of PCV in infant routine immunization programs across 152 countries, there are 42 more countries that await the implementation. PCV sales in global vaccines are market are thus likely to thrive by manifold over the next few years, especially in populous nations like China, India, and Indonesia. Demand for Human Papilloma Virus (HPV) vaccines are also observing a sharp rise as per the report. Shingles vaccine remains at the forefront of demand and will most likely exhibit 15.6% growth through 2029 end. Seasonal Influenza Vaccines will however display fastest growth during the period of projection.

Key Report Highlights

  • Manufacturers of vaccines experienced unwavering profits as the world came to a standstill amid COVID-19 outbreak. The report highlights a temporary yet staggering spike in market revenue during the pandemic that has driven a lasting systemic transformation for the vaccination, as well as healthcare systems. The highly regulated nature of vaccines market itself played out as a driving force over the recent past

  • The viral outbreak gave rise to an intense race for the vaccines for COVID-19, predominantly involving brands like Moderna, and BioNtech. The scenario has been a strong breeding ground for several partnerships, supply pacts, and distribution agreements between several vaccine manufacturers, and biotech companies

Insights into Regional Analysis

In terms of volume, the emerging markets of South and East Asia are likely to reflect exceptional growth potential during the years of assessment. Markets in the Western Pacific region are also expected to see phenomenal rise in terms of volume, says the report. Some of the most populous nations like China, and India remain the key manufacturers, as well as consumers, which will continue to drive expansion of vaccines market across South and East Asia (SEARO), and Western Pacific (WPRO) regions. On the other hand, the Americas (AMRO), led by the US, and Canada, continues to be at the forefront in terms of revenue contribution to global vaccines market. AMRO’s vaccines market is anticipated to account for nearly half the worldwide revenue through 2029 end and the report attributes it to the relatively high price point of Influenza (adult), HPV, meningitis, and varicella across the region.

Leading Players in Global Vaccines Market

GSK, Pfizer Inc., Merck & Co., Inc., and Sanofi Pasteur constitute the top four that hold commanding positions with around 90% of the overall market valuation. Besides, the report covers several prominent players for competition analysis that reveals vaccines market share by company. Haffkine Bio-pharmaceutical Corporation Ltd., Bharat Biotech International Limited, CSL Limited (Seqirus), Mitsubishi Tanabe Pharma Corporation, Serum Institute of India Pvt Ltd, Emergent BioSolutions Inc., Sinopharm, Novavax, and Moderna are some of the profiled players in global vaccines market report.

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Report Attributes


Base Year



Market Size in 2021

US$90 Bn

Estimated Market Size in 2029

US$82 Bn

CAGR (excluding COVID-19 vaccines)



CAGR (including COVID-19 vaccines)



Market Segmentation


  • PCV

  • D&T-containing

  • HPV

  • Seasonal Influenza

  • Shingles

  • Rotavirus

  • Meningococcal

  • MCVs

  • Varicella

  • COVID-19

  • Others

Country Group

  • PAHO RF (Pan American Health Organization)

  • Self-procuring HICs(High Income Countries)

  • Self-procuring MICs(Middle Income Countries)

  • UNICEF(GAVI– Global Alliance for Vaccines and Immunizations)

  • UNICEF-procuring MICs(Middle Income Countries)


  • Africa (AFRO)

  • Americas (AMRO)

  • Eastern Mediterranean (EMRO)

  • Europe (EURO)

  • South and East Asia (SEARO)

  • Western Pacific (WPRO)

Leading Companies

  • CSL Limited (Seqirus)

  • Emergent BioSolutions Inc.

  • GlaxoSmithKline plc.

  • Haffkine Bio-pharmaceutical Corporation Ltd.

  • Merck & Co., Inc.

  • Mitsubishi Tanabe Pharma Corporation

  • Moderna

  • Novavax

  • Pfizer Inc.

  • Sanofi Pasteur

  • Serum Institute of India Pvt. Ltd.

  • Sinopharm

Report Inclusions

  • Market Estimates and Forecast

  • Market Dynamics

  • Industry Trends

  • Competition Landscape

  • Vaccine-wise Analysis

  • Country Group-wise Analysis

  • Company-wise Analysis

  • Region-wise Analysis

  • Country-wise Analysis

  • Key Trends Analysis

  • COVID-19 Impact Analysis

About Us

Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.


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